Robinhood Markets (HOOD) Operating Expenses (2020 - 2026)

Robinhood Markets (HOOD) reported Operating Expenses of $656.0 million for Q1 2026, up 17.77% year-over-year from $557.0 million in Q1 2025, and up 3.63% quarter-over-quarter from $633.0 million in Q4 2025.

Robinhood Markets (HOOD) Operating Expenses (2020 - 2026) Analysis & Trends

Robinhood Markets (HOOD) has 7 years of Operating Expenses data on file, last reported at $656.0 million in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $656.0 million, up 17.77% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.5 billion (up 24.27% YoY), and the FY2025 annual result was $2.4 billion, up 25.41% from the prior year.
  • Operating Expenses grew to $656.0 million in Q1 2026 per HOOD's latest filing, from $633.0 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $950.0 million in Q1 2023 and troughed at $445.0 million in Q4 2023.
  • A 5-year average of $570.7 million and a median of $540.0 million in 2023 frame the typical range for Operating Expenses.
  • On a YoY basis, Operating Expenses climbed as much as 48.71% in 2022 and fell as far as 68.68% in 2022.
  • A 5-year view of Operating Expenses shows it stood at $534.0 million in 2022, then declined by 16.67% to $445.0 million in 2023, then advanced by 2.92% to $458.0 million in 2024, then jumped by 38.21% to $633.0 million in 2025, then increased by 3.63% to $656.0 million in 2026.
  • Business Quant data shows HOOD's Operating Expenses at $656.0 million in Q1 2026, $633.0 million in Q4 2025, and $639.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 94,425.84 Bn 94,425.84 Bn - 386,258.80
2 Morgan Stanley 349.82 Bn 216.29 Bn - 13.47 Bn
3 Goldman Sachs 333.85 Bn -603.70 Bn - 10.43 Bn
4 Schwab Charles 160.31 Bn 115.33 Bn - 3.29 Bn
5 Robinhood Markets 97.28 Bn 92.64 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 42.79 Bn 53.38 Bn - 381.00 Mn
7 LPL Financial Holdings 23.54 Bn 22.51 Bn - 4.45 Bn
8 Tradeweb Markets 21.20 Bn 19.96 Bn - 330.51 Mn
9 Iren 19.97 Bn 17.75 Bn 144.76 Mn 81.75 Mn
10 Circle Internet 19.67 Bn 18.16 Bn 35.01 Mn 242.35 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 656.00 Mn
Dec 31, 2025 633.00 Mn
Sep 30, 2025 639.00 Mn
Jun 30, 2025 550.00 Mn
Mar 31, 2025 557.00 Mn
Dec 31, 2024 458.00 Mn
Sep 30, 2024 486.00 Mn
Jun 30, 2024 493.00 Mn
Mar 31, 2024 460.00 Mn
Dec 31, 2023 445.00 Mn
Sep 30, 2023 540.00 Mn
Jun 30, 2023 466.00 Mn
Mar 31, 2023 950.00 Mn
Dec 31, 2022 534.00 Mn
Sep 30, 2022 535.00 Mn
Jun 30, 2022 610.00 Mn
Mar 31, 2022 690.00 Mn
Dec 31, 2021 783.00 Mn
Sep 30, 2021 1.71 Bn
Jun 30, 2021 501.00 Mn