Robinhood has achieved its highest-ever quarterly profit, reporting a staggering 700% increase in cryptocurrency revenue during the fourth quarter.
On 12 February 2025, Robinhood released Fourth Quarter and Full Year 2024 Results. The company’s Q4 revenues went up 115% year-on-year to a record $1.01 billion.
FOR THE FIRST TIME EVER
Robinhood $HOOD just had its first quarter with more than $1 Billion of Revenue pic.twitter.com/Pk8VCreRlq
— Evan (@StockMKTNewz) February 12, 2025
“Q4 was a record-breaking quarter that caps off a record-setting year in 2024,” said Jason Warnick, Chief Financial Officer of Robinhood.
Robinhood’s crypto notional volumes increased over 400% year-on-year, reaching $71 billion in Q4 2024. This was on the back of seven new crypto assets launched in the US and Ethereum (ETH) staking launch in the EU.
Commenting on the impressive results, Vlad Tenev, CEO and Co-Founder of Robinhood said, “We hit the gas on product development in 2024 with a new platform for active traders, Gold Card launch, an expanded UK and EU product suite, and much more.”
Meanwhile Warnick said, “For both the quarter and full year, we reached new highs for Assets Under Custody, Net Deposits, Gold Subscribers, Revenues, Net Income, Adjusted EBITDA, and EPS.”
Major Power Moves By Robinhood
Let’s talk the recent major power moves Robinhood made!
The company announced plans to expand into the Asia-Pacific region in 2025. It will be headquartered in Singapore now.
Earlier this week, the company also started to offer options trading to its UK customers.
In June 2024, Robinhood announced the acquisition of Bitstamp. The acquisition is expected to close in the first half of 2025.
“We’re entering 2025 with strong momentum as we remain focused on delivering another year of profitable growth,” Warnick added.
Furthermore, the company revealed that its outlook for combined Adjusted Operating Expenses and SBC for full-year 2025 is $2.0 billion to $2.1 billion.
Tenev said, “We see a huge opportunity ahead of us as we work toward enabling anyone, anywhere, to buy, sell, or hold any financial asset and conduct any financial transaction through Robinhood.”
Explore: Robinhood Expands To Spain, Offering Crypto Trading And Staking Under MiCA Regulations
Company’s European Expansion
Robinhood Crypto announced its entry into Spain on 21 January 2025, enabling users in the country to access its trading, staking, and investing services.
This marks the company’s latest move to broaden its European presence, following the implementation of the EU’s Markets in Crypto-Assets (MiCA) regulations at the end of December 2024.
Robinhood’s expansion aligns with its previously announced strategy to grow in Europe, the UK, and Asia. “In terms of total addressable market, [the EU] is as big as the US,” Johann Kerbrat, general manager of Robinhood’s crypto unit, noted last year.
Robinhood announced the expansion of its crypto services to Europe on 1 October 2024. With this, European users will be able to transfer crypto between their Robinhood accounts and external wallets. This has also been “the most requested feature” in Europe, the company revealed.
Commenting on the development, Johann Kerbrat, VP and GM of Robinhood Crypto said, “With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers.”
By enabling crypto transfers, Robinhood will be able to provide European users with flexibility and control over their digital assets.
Explore: Robinhood Introduces Crypto Transfers In Europe, Continues Expanding In EU
Key Takeaways
- Robinhood has recorded its highest-ever quarterly profit.
- The company said “it hit gas on product development,” hence the staggering 2024 numbers.
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