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Robinhood statistics 2024: assets under management (AUM), number of users, revenue, & more

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Franklin Silva
Updated
Apr 23, 2024

Robinhood has quickly become one of the most popular brokers, offering commission-free trades and an intuitive interface. The platform has gained a massive customer base in the US, making it a major disruptor in the finance industry.

In this article, we’ll examine the statistics that matter most, such as Robinhood’s assets under management (AUM) and user base, as well as revenue and other metrics. By examining these key metrics, we’ll uncover valuable insights into the company’s growth and success, as well as its impact on the investing world.

Whether you’re a professional investor or simply curious about Robinhood’s statistics, continue reading to find out more about the most recent 2024 statistics.

Overview

Robinhood Markets, Inc.is a well-known fintech firm that provides an online discount brokerage platform offering commission-free trading for stocks, exchange-traded funds (ETFs), options, and cryptocurrencies. It was launched in 2013 with a focus on providing commission-free trading and democratizing access to financial markets which has largely contributed to the company’s rapid growth and influence in the investment industry.

Here are some key corporate facts about Robinhood:

  • Founded in: 2013
  • Headquarters: Menlo Park, California
  • IPO date: July 28, 2021
  • Listed exchange: NASDAQ
  • Sector: Financials
  • Industry: Investment Banking and Brokerage
  • Ticker: HOOD
  • Founders: Vladimir Tenev and Baiju Bhatt
  • Number of employees: 2,500+

Robinhood AUMs

Robinhood’s assets under management (AUM) have experienced impressive growth since its launch, reaching a peak of $102 billion during the second quarter of 2021.

Robinhood yearly assets under management

Robinhood AUM by Year Amount (in million USD)
Robinhood AUM 2017 $4,505.7 million
Robinhood AUM 2018 $8,359.5 million
Robinhood AUM 2019 $14,135.6 million
Robinhood AUM 2020 $62,978.5 million
Robinhood AUM 2021 $98,006.9 million
Robinhood AUM 2022 $62,200 million
Robinhood AUM Aug 2023 $89,700 million

Robinhood quarterly assets under management

Quarter AUM (in billion USD)
Q1 – 2020 $19 billion
Q2 – 2020 $33 billion
Q3 – 2020 $44 billion
Q4 – 2020 $63 billion
Q1 – 2021 $81 billion
Q2 – 2021 $102 billion
Q3 – 2021 $95 billion
Q4 – 2021 $98 billion
Q1 – 2022 $93 billion
Q2 – 2022 $64 billion
Q3 – 2022 $65 billion
Q4 – 2022 $62 billion
Q1 – 2023 $78 billion
Q2 – 2023 $89 billion

Robinhood users

Robinhood’s rapid growth in popularity can be seen through its two major user metrics: Net cumulative funded accounts and Monthly Active Users (MAU). While net cumulative funded accounts represent the total number of accounts that have ever been opened and funded on the platform, MAU represents the number of unique users who have used the app in the past month.

Robinhood users – Net cumulative funded accounts and monthly active users (MAU)

Years Net cumulative funded accounts (in millions) Monthly active users (in millions)
Robinhood users 2015 0.5 Not disclosed
Robinhood users 2016 1.0 Not disclosed
Robinhood users 2017 1.9 1.8
Robinhood users 2018 3.3 3.3
Robinhood users 2019 5.1 4.3
Robinhood users 2020 12.5 11.7
Robinhood users 2021 22.7 17.3
Robinhood users 2022 23.0 11.4
Robinhood users Aug 2023 23.2 10.6

As of August 2023, Robinhood reported 23.2 million net cumulative funded accounts, showing that a large number of individuals have shown interest in using the platform for investing. In contrast, the platform had 10.6 million Monthly Active Users in August 2023. This difference between the two figures is significant, as it shows that a large number of Robinhood’s users may have created an account in the past, but are not actively using the platform. Nonetheless, Robinhood’s user base has been growing significantly in recent years, and it remains a popular choice for investors.

Robinhood revenues

Robinhood generates revenues through transaction-based revenues, net interest revenues, and other revenues. Transaction-based revenues come from routing customer orders for options, cryptocurrencies, and equities to market makers. Net interest revenues are earned through securities lending transactions and margin loans to users. Other revenues include subscription fees, proxy rebate revenues, and fees for facilitating the transfer of accounts to other brokers.

Robinhood’s revenue growth has been impressive in recent years. In 2020, it reported revenues of $959 million which further increased to $1.8 billion in 2021, representing year-over-year growth of 89%. However, the trend took a downturn in 2022, as the revenue declined by 25% from the previous year, dropping to $1.4 billion.

Robinhood yearly revenues

Period Revenues (in million USD)
Robinhood Revenues 2019 $278 million
Robinhood Revenues 2020 $959 million
Robinhood Revenues 2021 $1,815 million
Robinhood Revenues 2022 $1,358 million
Robinhood Revenues H1 2023 $927 million

Below, we will present the quarterly revenue figures for Robinhood.

Robinhood quarterly revenues

Quarter Revenues (in million USD)
Q1 – 2020 $128 million
Q2 – 2020 $244 million
Q3 – 2020 $270 million
Q4 – 2020 $318 million
Q1 – 2021 $522 million
Q2 – 2021 $565 million
Q3 – 2021 $365 million
Q4 – 2021 $363 million
Q1 – 2022 $299 million
Q2 – 2022 $318 million
Q3 – 2022 $361 million
Q4 – 2022 $380 million
Q1 – 2023 $441 million
Q2 – 2023 $486 million

Average revenues per user

The average revenue per user (ARPU) is a critical metric for evaluating a company’s revenue generation efficiency. It is obtained by dividing the total revenue for a given period by the average of Net Cumulative Funded Accounts for that same period.

Robinhood average revenue per user

The figures show that Robinhood’s ARPU has been volatile over the years, peaking in 2020 at $108.9 and slightly declining to $103.3 in 2021. However, the latest figure for 2022 shows a more significant decline, with the ARPU standing at $66 and it increased to $84 during the second quarter of 2023. This metric offers insight into the revenue generation strategy and growth potential of Robinhood. However, the decline in ARPU may not necessarily indicate poor productivity, it could be attributed to factors outside of Robinhood’s control, such as the bearish market in 2022, which likely impacted revenue generation across the industry.

Robinhood profit

Robinhood has not reported a net profit since its inception, apart from a modest $7.4 million in 2020. The company suffered a significant net loss of -$3,686.4 million in 2021, while its losses decreased to -$1,028 million in 2022, yet it is still unprofitable. These financial results emphasize the challenges Robinhood has encountered in expanding its business, growing its market share and dealing with regulatory scrutiny.

Robinhood yearly profit

Year Profit (in million USD)
Robinhood Profit 2017 -$6.1 million
Robinhood Profit 2018 -$57.5 million
Robinhood Profit 2019 -$106.6 million
Robinhood Profit 2020 $7.4 million
Robinhood Profit 2021 -$3,686.4 million
Robinhood Profit 2022 -$1,028 million
Robinhood Profit H1 – 2023 -$486 million

Robinhood net deposit by year

Robinhood monitors the Net Deposits, which serves as a key indicator of customer trust and engagement. This metric reflects the net value of cash deposits and asset transfers from customers, excluding reversals, withdrawals, and other transfers out of the platform. Robinhood considers this metric critical in assessing the growth of its customer base and its financial performance.

Robinhood’s net deposits have shown a significant increase over the years, starting at $1.7 billion in 2017 and rising to $18.4 billion in 2022. The platform experienced substantial growth in net deposits from 2020 to 2021, with $31 billion and $27.4 billion, respectively. The steady growth of Robinhood’s net deposits is an indicator of the platform’s ability to attract and retain customers.

Robinhood yearly net deposits

Year Net Deposits (in billion USD)
Robinhood Net Deposits 2017 $1.7 billion
Robinhood Net Deposits 2018 $4.6 billion
Robinhood Net Deposits 2019 $4.3 billion
Robinhood Net Deposits 2020 $31.0 billion
Robinhood Net Deposits 2021 $27.4 billion
Robinhood Net Deposits 2022 $18.4 billion
Robinhood Net Deposits till Aug 2023 $11.4 billion

Robinhood average account size

The average account size is an important metric that can provide insights into the demographics and behavior of Robinhood’s customer base. Since Robinhood does not explicitly disclose its average account size metric, we will calculate it using data on its AUM and net cumulative funded accounts.

Robinhood yearly average account size

Year Average Account Size (USD)
Robinhood Average Account Size 2017 $2,371
Robinhood Average Account Size 2018 $2,533
Robinhood Average Account Size 2019 $2,771
Robinhood Average Account Size 2020 $5,038
Robinhood Average Account Size 2021 $4,317
Robinhood Average Account Size 2022 $2,695
Robinhood Average Account Size Aug 2023 $3,826

Conclusion

In summary, Robinhood has disrupted the financial services industry by providing a commission-free platform that has attracted a large and growing user base. The platform’s success can also be attributed to its user-friendly interface which made investing more accessible to a broader range of investors.

Although Robinhood is not among the list of largest brokers by AUM, it has established itself as a major player in the industry due to its rapidly increasing AUM and net deposits.

Other FAQs

What is Robinhood?

Robinhood is a commission-free investment and trading platform that allows users to buy and sell stocks, exchange-traded funds (ETFs), options, and cryptocurrencies.

Is Robinhood available in my country?

Robinhood is currently only available in the United States and certain territories, for a list of alternatives you can check our list of Robinhood alternatives.

Is Robinhood a good platform for investing?

Robinhood can be a good platform for investing, especially for those who are just starting out. Its commission-free structure and simple interface make it accessible to new investors. However, it’s important to note that the platform has had some technical issues and controversies in the past, so it’s important to do your own research before investing.

What are the fees associated with using Robinhood?

Robinhood is a commission-free platform, but it does charge fees for other services, such as margin trading and its premium subscription service, Robinhood Gold. It also charges regulatory fees on certain transactions.

How has Robinhood's user base grown over the years?

Robinhood’s user base has grown rapidly over the past few years, from 0.5 million users in 2015 to over 23 million as of 2022.

Can I buy fractional shares on Robinhood?

Yes, Robinhood allows users to buy fractional shares of stocks and ETFs.

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About the author
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Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

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