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| Date | Value |
|---|---|
| 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 |