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10-Q Filing

ROBINHOOD MARKETS, INC. CIK: 1783879 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001783879-22-000104
Period End Date 20220331
Filing Date 20220506
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance hood-20220331_htm.xml
Balance Sheet 69 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.19B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.25B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.79B USD Point-in-time
Cash and securities segregated under federal and other regulations CashAndSecuritiesSegregatedUnderSecuritiesExchangeCommissionRegulation $3.99B USD Point-in-time
Cash and securities segregated under federal and other regulations CashAndSecuritiesSegregatedUnderSecuritiesExchangeCommissionRegulation $4.46B USD Point-in-time
Receivables from brokers, dealers, and clearing organizations ReceivablesFromBrokersDealersAndClearingOrganizations $88.00M USD Point-in-time
Receivables from brokers, dealers, and clearing organizations ReceivablesFromBrokersDealersAndClearingOrganizations $124.00M USD Point-in-time
Receivables from users, net ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent $6.64B USD Point-in-time
Receivables from users, net ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent $5.21B USD Point-in-time
Deposits with clearing organizations DepositsWithClearingOrganizationsAndOthersSecurities $328.00M USD Point-in-time
Deposits with clearing organizations DepositsWithClearingOrganizationsAndOthersSecurities $294.00M USD Point-in-time
User-held fractional shares UserHeldFractionalSharesAmount $1.83B USD Point-in-time
User-held fractional shares UserHeldFractionalSharesAmount $1.93B USD Point-in-time
Investments DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent $27.00M USD Point-in-time
Investments DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent $40.00M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $92.00M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $75.00M USD Point-in-time
Other current assets OtherAssetsCurrent $30.00M USD Point-in-time
Other current assets OtherAssetsCurrent $29.00M USD Point-in-time
Total current assets AssetsCurrent $18.36B USD Point-in-time
Total current assets AssetsCurrent $19.28B USD Point-in-time
Property, software, and equipment, net PropertyPlantAndEquipmentNet $146.00M USD Point-in-time
Property, software, and equipment, net PropertyPlantAndEquipmentNet $166.00M USD Point-in-time
Goodwill Goodwill $100.00M USD Point-in-time
Goodwill Goodwill $101.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $34.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $32.00M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $24.00M USD Point-in-time
Restricted cash RestrictedCashNoncurrent $24.00M USD Point-in-time
Operating lease right-of-use-assets OperatingLeaseRightOfUseAsset $155.00M USD Point-in-time
Operating lease right-of-use-assets OperatingLeaseRightOfUseAsset $129.00M USD Point-in-time
Non-current prepaid expenses PrepaidExpenseNoncurrent $35.00M USD Point-in-time
Non-current prepaid expenses PrepaidExpenseNoncurrent $44.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $5.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $8.00M USD Point-in-time
Total assets Assets $19.77B USD Point-in-time
Total assets Assets $18.87B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $249.00M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $252.00M USD Point-in-time
Payables to users ContractWithCustomerLiabilityCurrent $7.15B USD Point-in-time
Payables to users ContractWithCustomerLiabilityCurrent $6.48B USD Point-in-time
Securities loaned SecuritiesLoaned $2.15B USD Point-in-time
Securities loaned SecuritiesLoaned $3.65B USD Point-in-time
Fractional shares repurchase obligation FractionalSharesRepurchaseObligationAmount $1.83B USD Point-in-time
Fractional shares repurchase obligation FractionalSharesRepurchaseObligationAmount $1.93B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $23.00M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $22.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $112.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $80.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $12.35B USD Point-in-time
Total current liabilities LiabilitiesCurrent $11.58B USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $160.00M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $129.00M USD Point-in-time
Total liabilities Liabilities $11.74B USD Point-in-time
Total liabilities Liabilities $12.48B USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 13) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $11.17B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $11.40B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $1.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax - USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-4.27B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-3.88B USD Point-in-time
Total stockholders equity StockholdersEquity $-1.49B USD Point-in-time
Total stockholders equity StockholdersEquity $7.29B USD Point-in-time
Total stockholders equity StockholdersEquity $-55.00M USD Point-in-time
Total stockholders equity StockholdersEquity $7.13B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $18.87B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $19.77B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net interest revenues InterestIncomeExpenseNet $62.00M USD 1 Quarter
Net interest revenues InterestIncomeExpenseNet $55.00M USD 1 Quarter
Total net revenues Revenues $522.00M USD 1 Quarter
Total net revenues Revenues $299.00M USD 1 Quarter
Brokerage and transaction FloorBrokerageExchangeAndClearanceFees $31.00M USD 1 Quarter
Brokerage and transaction FloorBrokerageExchangeAndClearanceFees $41.00M USD 1 Quarter
Technology and development TechnologyAndDevelopmentExpense $117.00M USD 1 Quarter
Technology and development TechnologyAndDevelopmentExpense $266.00M USD 1 Quarter
Operations OtherCostAndExpenseOperating $67.00M USD 1 Quarter
Operations OtherCostAndExpenseOperating $91.00M USD 1 Quarter
Marketing MarketingExpense $34.00M USD 1 Quarter
Marketing MarketingExpense $102.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $137.00M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $268.00M USD 1 Quarter
Total operating expenses OperatingExpenses $464.00M USD 1 Quarter
Total operating expenses OperatingExpenses $690.00M USD 1 Quarter
Change in fair value of convertible notes and warrant liability FairValueAdjustmentOfConvertibleDebtAndWarrants - USD 1 Quarter
Change in fair value of convertible notes and warrant liability FairValueAdjustmentOfConvertibleDebtAndWarrants $1.49B USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-391.00M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-1.43B USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $12.00M USD 1 Quarter
Net loss NetIncomeLoss $-1.45B USD 1 Quarter
Net loss NetIncomeLoss $-392.00M USD 1 Quarter
Basic NetIncomeLossAvailableToCommonStockholdersBasic $-392.00M USD 1 Quarter
Basic NetIncomeLossAvailableToCommonStockholdersBasic $-1.45B USD 1 Quarter
Diluted NetIncomeLossAvailableToCommonStockholdersDiluted $-392.00M USD 1 Quarter
Diluted NetIncomeLossAvailableToCommonStockholdersDiluted $-1.45B USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-6.26 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.45 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.45 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-6.26 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 230.69M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 867.77M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 867.77M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 230.69M shares 1 Quarter
Cash Flow Statement 83 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-1.45B USD 1 Quarter
Net loss NetIncomeLoss $-392.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $12.00M USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $16.00M USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $8.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $9.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $220.00M USD 1 Quarter
Change in fair value of convertible notes and warrant liability FairValueAdjustmentOfConvertibleDebtAndWarrants - USD 1 Quarter
Change in fair value of convertible notes and warrant liability FairValueAdjustmentOfConvertibleDebtAndWarrants $1.49B USD 1 Quarter
Segregated securities under federal and other regulations IncreaseDecreaseInSegregatedSecuritiesUnderFederalAndOtherRegulations $-135.00M USD 1 Quarter
Segregated securities under federal and other regulations IncreaseDecreaseInSegregatedSecuritiesUnderFederalAndOtherRegulations - USD 1 Quarter
Receivables from brokers, dealers, and clearing organizations IncreaseDecreaseInBrokerageReceivables $36.00M USD 1 Quarter
Receivables from brokers, dealers, and clearing organizations IncreaseDecreaseInBrokerageReceivables $51.00M USD 1 Quarter
Receivables from users, net IncreaseDecreaseInAccountsReceivable $-1.42B USD 1 Quarter
Receivables from users, net IncreaseDecreaseInAccountsReceivable $2.03B USD 1 Quarter
Deposits with clearing organizations IncreaseDecreaseInDepositOtherAssets $-34.00M USD 1 Quarter
Deposits with clearing organizations IncreaseDecreaseInDepositOtherAssets $97.00M USD 1 Quarter
Operating lease right-of-use assets IncreaseDecreaseInOperatingLeaseRightOfUseAsset $26.00M USD 1 Quarter
Operating lease right-of-use assets IncreaseDecreaseInOperatingLeaseRightOfUseAsset $6.00M USD 1 Quarter
Current and non-current prepaid expenses IncreaseDecreaseInPrepaidExpense $20.00M USD 1 Quarter
Current and non-current prepaid expenses IncreaseDecreaseInPrepaidExpense $-26.00M USD 1 Quarter
Other current and non-current assets IncreaseDecreaseInOtherOperatingAssets $-2.00M USD 1 Quarter
Other current and non-current assets IncreaseDecreaseInOtherOperatingAssets $-616.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $126.00M USD 1 Quarter
Payables to users IncreaseDecreaseInPayablesToCustomers $673.00M USD 1 Quarter
Payables to users IncreaseDecreaseInPayablesToCustomers $-56.00M USD 1 Quarter
Securities loaned IncreaseDecreaseInSecuritiesLoanedTransactions $-1.50B USD 1 Quarter
Securities loaned IncreaseDecreaseInSecuritiesLoanedTransactions $110.00M USD 1 Quarter
Current and non-current operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $32.00M USD 1 Quarter
Current and non-current operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $7.00M USD 1 Quarter
Other current and non-current liabilities IncreaseDecreaseInOtherOperatingLiabilities $-693.00M USD 1 Quarter
Other current and non-current liabilities IncreaseDecreaseInOtherOperatingLiabilities $-31.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $437.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-1.88B USD 1 Quarter
Purchase of property, software, and equipment PaymentsToAcquireProductiveAssets $9.00M USD 1 Quarter
Purchase of property, software, and equipment PaymentsToAcquireProductiveAssets $13.00M USD 1 Quarter
Capitalization of internally developed software PaymentsToDevelopSoftware $2.00M USD 1 Quarter
Capitalization of internally developed software PaymentsToDevelopSoftware $8.00M USD 1 Quarter
Purchase of investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $14.00M USD 1 Quarter
Purchase of investments PaymentsToAcquireAvailableForSaleSecuritiesDebt - USD 1 Quarter
Sales of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments - USD 1 Quarter
Sales of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-34.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.00M USD 1 Quarter
Proceeds from issuance of convertible notes and warrants ProceedsFromIssuanceOfConvertibleDebtAndWarrants $3.55B USD 1 Quarter
Proceeds from issuance of convertible notes and warrants ProceedsFromIssuanceOfConvertibleDebtAndWarrants - USD 1 Quarter
Draws on credit facilities ProceedsFromLinesOfCredit $1.00B USD 1 Quarter
Draws on credit facilities ProceedsFromLinesOfCredit $11.00M USD 1 Quarter
Repayments on credit facilities RepaymentsOfLinesOfCredit $1.00B USD 1 Quarter
Repayments on credit facilities RepaymentsOfLinesOfCredit $11.00M USD 1 Quarter
Proceeds from exercise of stock options, net of repurchases ProceedsFromStockOptionsExercised $6.00M USD 1 Quarter
Proceeds from exercise of stock options, net of repurchases ProceedsFromStockOptionsExercised $3.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $3.56B USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net increase in cash, cash equivalents, segregated cash and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.67B USD 1 Quarter
Net increase in cash, cash equivalents, segregated cash and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $403.00M USD 1 Quarter
Cash, cash equivalents, segregated cash and restricted cash, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.27B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.86B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.67B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.19B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.27B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.86B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.67B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.19B USD Point-in-time
Cash and cash equivalents, end of the period CashAndCashEquivalentsAtCarryingValue $6.19B USD Point-in-time
Cash and cash equivalents, end of the period CashAndCashEquivalentsAtCarryingValue $6.25B USD Point-in-time
Cash and cash equivalents, end of the period CashAndCashEquivalentsAtCarryingValue $4.79B USD Point-in-time
Segregated cash, end of the period CashSegregatedUnderOtherRegulations $3.05B USD Point-in-time
Segregated cash, end of the period CashSegregatedUnderOtherRegulations $4.46B USD Point-in-time
Restricted cash, end of the period RestrictedCash $10.00M USD Point-in-time
Restricted cash, end of the period RestrictedCash $24.00M USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.27B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.86B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $10.67B USD Point-in-time
Cash, cash equivalents, segregated cash and restricted cash, end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.19B USD Point-in-time
Cash paid for interest InterestPaidNet $3.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $1.00M USD 1 Quarter
Cash paid for income taxes, net of refund received IncomeTaxesPaidNet $1.00M USD 1 Quarter
Cash paid for income taxes, net of refund received IncomeTaxesPaidNet $3.00M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquity $-1.49B USD Point-in-time
Balance at beginning of period StockholdersEquity $7.29B USD Point-in-time
Balance at beginning of period StockholdersEquity $-55.00M USD Point-in-time
Balance at beginning of period StockholdersEquity $7.13B USD Point-in-time
Net loss NetIncomeLoss $-1.45B USD 1 Quarter
Net loss NetIncomeLoss $-392.00M USD 1 Quarter
Shares issued in connection with stock option exercise, net of repurchases StockIssuedDuringPeriodValueShareBasedCompensation $4.00M USD 1 Quarter
Shares issued in connection with stock option exercise, net of repurchases StockIssuedDuringPeriodValueShareBasedCompensation $6.00M USD 1 Quarter
Shares withheld related to net share settlement SharesWithheldRelatedToNetShareSettlementAmount $3.00M USD 1 Quarter
Vesting of early-exercised stock options StockIssuedDuringPeriodValueStockOptionsExercised - USD 1 Quarter
Vesting of early-exercised stock options StockIssuedDuringPeriodValueStockOptionsExercised - USD 1 Quarter
Change in other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.00M USD 1 Quarter
Change in other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $230.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $9.00M USD 1 Quarter
Balance at end of period StockholdersEquity $-1.49B USD Point-in-time
Balance at end of period StockholdersEquity $7.29B USD Point-in-time
Balance at end of period StockholdersEquity $-55.00M USD Point-in-time
Balance at end of period StockholdersEquity $7.13B USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-1.45B USD 1 Quarter
Net loss NetIncomeLoss $-392.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax - USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.00M USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-393.00M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-1.45B USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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