Robinhood hit $1.31B in Q2 revenue and $573M in net income, but crypto transaction revenue slid 38% YoY to $100M even as total crypto volume reached $40B.
Robinhood's second quarter produced record revenue and profit, but the crypto trading fees that once drove the company's growth fell sharply from a year ago.
Total revenue for the quarter reached $1.31 billion, up 32% year-on-year. Net income rose 48% to $573 million.
Crypto Revenue Takes a Hit
Cryptocurrency transaction revenue came in at $100 million, down 38% from roughly $160 million in the same quarter of 2025. Total crypto trading volume for the period was $40 billion, split between $18 billion on the Robinhood app and $22 billion through Bitstamp, the crypto exchange Robinhood acquired in June 2025.
The gap between volume holding steady and fee revenue falling suggests margins on crypto trades compressed during the quarter. Robinhood did not detail the cause in its earnings report.
Robinhood shares were down 3.15% on July 29 ahead of the earnings release, according to Yahoo Finance data.
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New Products and Acquisitions
During the quarter, Robinhood launched the public mainnet of Robinhood Chain and made tokenized US stocks available to users in more than 120 countries. It also introduced Robinhood Earn, a decentralized lending product.
Nearly 100,000 accounts enrolled in Agentic Trading, which allows users to automate certain investment actions. Those accounts represent more than $100 million in assets under custody. Robinhood also completed its acquisition of Canadian crypto platform WonderFi and said it plans to expand its crypto services in the United Kingdom.
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