Robinhood Markets delivered a staggering 204% share price increase in 2025, outperforming all major online brokerages over the period. This surge was fueled by an aggressive user acquisition strategy that added more than 15 million funded retail accounts, bringing the total to 42 million by year-end, and a 35% rise in average revenue per user to $65.

The company more than doubled its top line in 2025, posting full-year revenue of $5.4 billion compared with $2.5 billion in the prior year. Net income soared 271% to $1.1 billion, generating free cash flow of $850 million and driving the adjusted return on equity to 18%, up from 6% in 2024.

Robinhood’s newly launched banking services attracted 4.2 million deposit accounts with average balances of $1,300, while its social investing tools recorded 8 million monthly active users. Crypto trading volumes climbed 180% to $75 billion, and options transactions more than doubled to 9 million contracts, reducing dependency on equities commissions from 60% to 42% of total revenue.

Despite the exceptional 2025 run, shares have fallen close to 20% over the past three months as investors flagged the company’s elevated P/E ratio of 49 and potential volatility from its growing crypto business. Analysts are also warning that any slowdown in retail trading activity could pressure the stock, given that 58% of revenue remains tied to market transaction volumes.