How Robinhood Makes Money (2026)
Robinhood makes money mainly from Transaction-based revenue. Its FY2025 total revenue was $4,473 million ($4.5 billion), with Transaction-based revenue the biggest disclosed revenue line at $2,628 million ($2.6 billion) and 58.8% of total revenue (computed from the 10-K FY2025). Robinhood’s securities lending activity generates interest revenue and interest expense.
Last checked 2026-10-18 on the official pages.
Revenue breakdown
Amounts in millions of USD. Partial breakdown: these lines do not necessarily reconcile to total revenue. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Transaction-based revenue | $2,628 million ($2.6 billion) | 58.8% | 10-K FY2025 ↗ |
| Other revenue | $331 million | 7.4% | 10-K FY2025 ↗ |
| Total revenue | $4,473 million ($4.5 billion) | — | 10-K FY2025 ↗ |
The hidden model
Robinhood’s securities lending activity generates interest revenue and interest expense.
Robinhood’s securities lending activity generates interest revenue and interest expense. verified
We also earn and incur interest revenues and expenses on securities lending transactions.
Business models
Brokerage and transaction fees · Interest and banking
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Frequently asked questions
How does Robinhood make money?
Robinhood makes money mainly from Transaction-based revenue. Its FY2025 total revenue was $4,473 million ($4.5 billion), with Transaction-based revenue the biggest disclosed revenue line at $2,628 million ($2.6 billion) and 58.8% of total revenue (computed from the 10-K FY2025). Robinhood’s securities lending activity generates interest revenue and interest expense.
What is Robinhood’s business model?
Robinhood’s business model is Brokerage and Transaction Fees and Interest and Banking. Facilitate transactions in securities or digital assets and earn commissions, execution-related payments, or trading fees. Related custody, lending, and subscriptions can add revenue. Robinhood’s securities lending activity generates interest revenue and interest expense.
What is Robinhood’s hidden model?
Robinhood’s securities lending activity generates interest revenue and interest expense.