Robin's Q3 revenue meets estimates with prediction market revenue up and crypto revenue down 55%.
Robinhood reported revenue of $1.424 billion in the third quarter of 2026, up 12% year-over-year, and roughly in line with estimates of $1.42 billion. Net income fell 14% to $476 million, while diluted net income of $0.51 missed estimates by $0.56, including $0.07 per share in unrealized losses, primarily related to Robinhood Ventures Fund I. Adjusted EBITDA rose 9% to $808 million. Predictive market event contract revenue increased more than sixfold to $173 million, while crypto trading revenue fell 55% to $120 million. Notional crypto trading volume fell 38% to $50 billion, while traded event contracts rose by more than seven to $16.4 billion. The Robin chain recorded over $80 billion in DEX trading volume and over $50 million in network fees during its first quarter on the mainnet. The company also lowered the upper end of its 2026 adjusted operating expenses and stock-based compensation forecast from $2.775 billion to $2.75 billion, and kept the lower end at $2.675 billion.