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💰 Banks & Money
Robinhood Markets
(HOOD ↗)
robinhood.com ↗
The app that made stock trading free, tap-to-buy, and — for better or worse — fun. It rode the 2021 meme-stock boom, crashed hard, and has come back bigger and, for the first time, durably profitable. They make money on the trades you don't pay for.
Updated · FY2025 · December 2025
6
Chapters
~19
Min read
$4.5B / yr revenue · ~2.3K employees · public since 2021
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1
Growth
~4 min
Boom, Bust, and Back Again
Robinhood's revenue chart looks like a heartbeat: a 2021 meme spike, a brutal crash, and a comeback that just hit a new high.
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2
Financial Health
~4 min
The Year It Started Making Money
For most of its public life, Robinhood lost money — billions of it. 2024 was the turn. 2025 confirmed it.
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3
Moat
~3 min
The Default Brokerage for a Generation
Robinhood's moat isn't technology anyone can copy. It's that it became the place an entire generation first learned to invest.
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4
Management
~3 min
Founder-Controlled, By Design
Robinhood's founders don't just run the company. Through a special class of stock, they control more than half the votes.
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5
Behind the Numbers
~2 min
The Story Behind the Numbers
Record revenue, a profit streak, surging assets — and a business still tied to how much people trade.
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6
Risk
~3 min
The Trade You Don't Pay For
Robinhood made trading 'free.' But someone pays — and how they pay is the single biggest risk to the whole business.
↻ Next update · Jul 30
est. Jul 30, 2026 · Q2 FY26 · Robinhood IR ↗
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You're reading the 6 opening chapters. After that, every time Robinhood files a new report, the chapters get updated here.