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Robinhood Markets (HOOD) Cost of Revenue (2020 - 2025)

Robinhood Markets (HOOD) has disclosed Cost of Revenue for 6 consecutive years, with $306.0 million as the latest value for Q4 2025.

  • On a quarterly basis, Cost of Revenue rose 1192.86% to $306.0 million in Q4 2025 year-over-year; TTM through Dec 2025 was $399.0 million, a 206.92% increase, with the full-year FY2025 number at $399.0 million, up 256.25% from a year prior.
  • Cost of Revenue was $306.0 million for Q4 2025 at Robinhood Markets, up from -$41.0 million in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $306.0 million in Q4 2025 to a low of -$41.0 million in Q3 2025.
  • A 5-year average of $57.2 million and a median of $39.5 million in 2023 define the central range for Cost of Revenue.
  • Peak YoY movement for Cost of Revenue: skyrocketed 2600.0% in 2024, then tumbled 251.85% in 2025.
  • Robinhood Markets' Cost of Revenue stood at $85.0 million in 2021, then plummeted by 135.29% to -$30.0 million in 2022, then surged by 223.33% to $37.0 million in 2023, then crashed by 175.68% to -$28.0 million in 2024, then surged by 1192.86% to $306.0 million in 2025.
  • Per Business Quant, the three most recent readings for HOOD's Cost of Revenue are $306.0 million (Q4 2025), -$41.0 million (Q3 2025), and $29.0 million (Q2 2025).