Robinhood Markets Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,883	1,411	-541	-1,028	-3,687
Depreciation & Amortization	77	43	71	61	26
Stock-Based Compensation	305	304	871	654	1,572
Other Adjustments	297	-290	94	116	2,122
Changes in Restricted Cash and Segregated Assets	197	-397	-	-	135
Changes in Securities Borrowed	828	-1,634	-1,085	-517	-
Change in Receivables	-9,044	-4,974	-311	3,398	-3,326
Changes in Securities Loaned	4,163	3,916	1,713	-1,817	578
Changes in Accounts Payable	3,405	2,316	530	-1,837	80
Changes in Other Operating Activities	-483	-883	-118	118	1,493
Operating Cash Flow	1,638	-157	1,181	-852	-885
Capital Expenditures	-15	-13	-2	-28	-63
Purchases of Intangible Assets	-39	-37	-19	-29	-20
Purchases of Investments	-244	-557	-760	-25	-27
Proceeds from Sale of Investments	400	658	282	42	-
Payments for Business Acquisitions	794	-9	-93	-	-125
Other Investing Activities	-753	-192	-	-20	-3
Investing Cash Flow	141	-148	-582	-60	-238
Short-Term Debt Issued	4,752	22	20	21	1,968
Short-Term Debt Repaid	-4,752	-22	-20	-21	-1,968
Long-Term Debt Issued	-	-	-	-	3,552
Net Long-Term Debt Issued (Repaid)	-	-	-	-	3,552
Issuance of Common Stock	38	34	19	22	2,073
Repurchase of Common Stock	-1,090	-501	-620	-12	-422
Net Common Stock Issued (Repurchased)	-1,052	-467	-601	10	1,651
Other Financing Activities	457	127	1	-10	-
Financing Cash Flow	-590	-345	-610	-1	5,203
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-11	9	-1	-913	-
Net Cash Flow	1,178	-641	-12	-913	4,080
Free Cash Flow	1,623	-170	1,179	-880	-948
FCF Margin	36.28%	-5.76%	63.22%	-64.80%	-52.23%
Free Cash Flow Per Share	1.77	-0.19	1.32	-	-1.93
Levered Free Cash Flow	11,938	6,170	27	-5,048	2,114
Unlevered Free Cash Flow	10,042	4,746	564.95	-5,032	607.11

Updated Dec 31, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.