Robinhood Reports Strong Year-On-Year Growth Despite Mixed August Metrics
Customer Numbers Remain Stable As Assets Surge
Robinhood Markets, Inc. (NASDAQ: HOOD) has released its August 2025 operating data, showing resilience in platform assets and margin activity even as trading volumes saw a monthly dip. The brokerage ended the month with 26.7 million funded customers, roughly flat compared to July but up by 2.4 million year-over-year. Growth in new accounts was partly offset by the escheatment of about 180,000 low-balance accounts, a regulatory requirement.
Total platform assets rose to $304 billion, up 2% from July and a striking 112% increase compared to August 2024. Net deposits came in at $4.8 billion for the month, representing a 19% annualized growth rate versus July’s platform assets. Over the past year, Robinhood has attracted $61.6 billion in net deposits, reflecting an annual growth rate of 43%.
Trading Activity Shows Divergence Across Asset Classes
Equity notional volumes totaled $199.2 billion, down 5% from July but more than doubled compared to a year earlier. Options month-on-month at 195.5 million contracts, still representing a 33% increase year-over-year. Crypto trading presented a mixed picture: the Robinhood app reported $13.7 billion in notional crypto volume, down 18% from July but up 154% versus 2024. Meanwhile, Bitstamp, acquired earlier this year, recorded $14.4 billion in crypto volumes, a 21% increase from the prior month.
Daily Average Revenue Trades (DARTs) highlighted similar dynamics. Equity DARTs fell 7% month-on-month to 2.5 million, while options DARTs rose 9% to 1.2 million. Crypto DARTs slipped 14% to 0.6 million but still doubled compared to August 2024.
Margin Balances And Cash Sweeps Expand
Robinhood’s margin book grew to $12.5 billion at the end of August, marking a 10% increase from July and a 127% rise year-over-year. Cash sweep balances also climbed to $34.1 billion, up 1% from the prior month and 50% higher than a year ago. The bulk of this came from Gold Cash Sweep accounts, which accounted for $32.3 billion, while non-Gold sweeps stood at $1.8 billion.
These figures suggest that clients are maintaining significant cash allocations on the platform even as markets remain volatile, offering Robinhood a steady source of interest-related revenue streams.
Securities Lending Revenue Declines From July Highs
August securities lending revenue came in at $53 million, a 13% decline from July but up a remarkable 165% compared to August 2024. The drop follows an unusually strong July, but the year-on-year trend demonstrates robust growth in this revenue line as demand for stock borrow remains high.
Outlook
Robinhood’s August results reflect a platform that is steadily expanding its assets and margin activity, even amid across equities, options, and crypto. The addition of Bitstamp is already showing material impact on crypto flows, while higher cash sweep balances and lending revenues suggest increasing monetization of customer balances. With 112% year-over-year asset growth and steady customer engagement, Robinhood appears well-positioned to continue scaling ahead of its next quarterly update.
