Robinhood Stock Slips Despite Record 2025 Revenue

Tech

Robinhood Stock Slips Despite Record 2025 Revenue

• The aim of the platform has shifted toward premium subscribers and power traders, not the first-time investor it made its brand around.
• The slip of Bitcoin from around $126,000 in early October to about $69,000 has mashed the speculative momentum that ignited the growth of Robinhood.

Robinhood Markets recently hit a milestone, after which its stock slipped 7% to 8%. In 2025, the total revenue stood at around $4.5 billion, up 52% year-over-year, with net income hitting $1.9 billion, as per the firms Q4 earnings release.

However, talking solely about the Q4 results, the story is a bit different, as revenue came in at $1.28 billion, missing the analyst consensus of approximately $1.34 billion and breaking a three-quarter streak of beats.

One share earning of $0.66 edged over the $0.63 consensus; however, that small win did not help in stopping the sell-off. And the 27 million funded customers are worried now, not because of one missed quarter but because of the pattern forming below.

The Unexpected Fall

The monthly active users also slipped by 1.9 million year-over-year to 13 million in the fourth quarter. This comes amid the overall platform assets surging 68% to $324 billion. App users have also been reduced, and more money is sitting on it.

If we see the average revenue per user, it jumped to $191, and Gold subscribers surged 58% to 4.2 million, as per the earnings release. Robinhood is drawing more from its most loyal users, and the casual investors who once influenced its growth somehow faded.

The aim of the platform has shifted toward premium subscribers and power traders, not the first-time investor it made its brand around. Crypto trading revenue declined 38% year-over-year to $221 million, down from $358 million a year ago, as per Robinhood.

Crypto accumulates higher per-transaction revenue as compared to stock trades on the platform, so each lost crypto trade hits the bottom line harder than an equivalent equity order.

The slip of Bitcoin from around $126,000 in early October to about $69,000 has mashed the speculative momentum that ignited the growth of Robinhood. Coinbase witnesses the same pressure and reports later this week, but the user base of Robinhood tilts younger and more crypto-heavy, which makes the exposure sharper.