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Mar 31, 2022
Robinhood Q1 2022 Earnings Report
Robinhood's Q1 2022 results reflected the impact of the macroeconomic environment on its customers, while the company progressed on its long-term plans and product development.
Key Takeaways
Robinhood's Q1 2022 total net revenues decreased by 43% to $299 million compared to Q1 2021. The net loss was $392 million, or $0.45 per diluted share. Monthly Active Users (MAU) decreased by 10% to 15.9 million, and Average Revenues Per User (ARPU) decreased by 62% to $53.
Total net revenues decreased 43% to $299 million compared to Q1 2021.
Transaction-based revenues decreased 48% to $218 million compared to Q1 2021.
Net loss was $392 million, or $0.45 per diluted share, compared to a net loss of $1.4 billion in Q1 2021.
Monthly Active Users (MAU) decreased 10% to 15.9 million for March 2022.
Revenue by Segment
Forward Guidance
Robinhood anticipates recording a restructuring benefit of approximately $7–$19 million in the second quarter of 2022. They expect total operating expenses, excluding share-based compensation, for full year 2022 to increase by approximately 2%–5% year-over-year and share-based compensation to decline by approximately 42%–47% year-over-year.
Positive Outlook
- Tax-advantaged retirement accounts remain on track, with the goal of providing early access to an initial set of customers later this year.
- The company signed an agreement to acquire Ziglu Limited, which will help accelerate global expansion efforts.
- Robinhood is focused on long-term investing, spending and savings.
- Robinhood is helping customers move money faster.
- Robinhood is opening up its crypto platform to customers internationally.
Challenges Ahead
- Total operating expenses excluding share-based compensation will further increase by $17-$23 million due to cash restructuring and related charges.
- GAAP total operating expenses for full year 2022 will further decrease due to a restructuring benefit of approximately $7-$19 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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