Robinhood’s first nine months of 2025 saw revenue climb 65% year-over-year to $3.2 billion, driven by robust trading activity in equities, options and cryptocurrencies. Diluted earnings per share more than doubled, rising 153% to $1.39. In the third quarter alone, transaction-based revenue from options trading increased 50% to $304 million, while crypto-related revenue surged over 300% to $268 million. The company’s gross margin remains elevated at nearly 90%, underscoring its ability to scale trading infrastructure efficiently.

Robinhood’s funded customer count grew 10% sequentially to 26.8 million at the end of Q3, reflecting continued success in attracting new retail investors. Average revenue per user jumped 82% year-over-year to $191 as trading volumes and product adoption broadened. Management has also rolled out new services – including savings accounts, credit cards and an AI-powered investment assistant for premium subscribers – aimed at diversifying revenue streams beyond core commission-free trading.

Generali Asset Management initiated a position of 16,589 shares valued at approximately $2.4 million in the latest quarter, joining a cohort of institutions that collectively hold over 93% of the company’s float. Vanguard, State Street and Geode each increased stakes by between 2% and 9% earlier in the year. Wall Street sentiment skews positive: two firms rate the stock a Strong Buy, fourteen assign Buy ratings, seven issue Holds and one a Sell, with an average price target near $137.00. Meanwhile, insiders have sold 2.9 million shares worth $367 million over the past three months but retain roughly 14.5% ownership, signalling mixed signals on near-term valuation.