Robinhood Markets, Inc. Reveals July 2024 Operating Metrics

Robinhood
Markets,
Inc.
(NASDAQ:
HOOD)
has
released
its
operating
metrics
for
July
2024,
showcasing
notable
growth
in
several
key
areas,
according
to

GlobeNewswire.

Funded
Customers
and
Assets
Under
Custody

At
the
end
of
July
2024,
Robinhood
reported
having
24.2
million
funded
customers,
an
increase
of
approximately
70,000
from
June
2024
and
over
one
million
year-over-year.
Assets
Under
Custody
(AUC)
reached
$144.5
billion,
marking
a
3%
rise
from
June
2024
and
a
53%
increase
compared
to
the
previous
year.
Net
deposits
for
July
totaled
$4.2
billion,
translating
to
a
36%
annualized
growth
rate
relative
to
June
2024
AUC.
Over
the
past
twelve
months,
net
deposits
amounted
to
$35.8
billion,
reflecting
a
38%
annual
growth
rate
compared
to
July
2023
AUC.

Trading
Volumes
and
Margin
Balances

Equity
notional
trading
volumes
surged
to
$104.4
billion,
up
21%
from
June
2024
and
51%
year-over-year.
Options
contracts
traded
reached
160.5
million,
a
22%
increase
from
the
previous
month
and
a
51%
rise
year-over-year.
Crypto
notional
trading
volumes
were
$5.3
billion,
reflecting
a
23%
month-over-month
increase
and
a
56%
year-over-year
growth.
Margin
balances
stood
at
$5.4
billion
at
the
end
of
July,
an
8%
increase
from
June
2024
and
a
59%
rise
year-over-year.

Cash
Sweep
Balances
and
Securities
Lending
Revenue

Total
cash
sweep
balances
at
the
end
of
July
were
$21.8
billion,
up
4%
from
June
2024
and
72%
year-over-year.
Gold
cash
sweep
balances
amounted
to
$21.2
billion,
a
4%
increase
from
June
2024
and
a
78%
rise
year-over-year.
Non-gold
cash
sweep
balances
remained
flat
month-over-month
at
$0.6
billion
but
decreased
by
25%
year-over-year.
Total
securities
lending
revenue
for
July
was
$21
million,
consistent
with
June
2024
but
up
24%
year-over-year.

Daily
Average
Revenue
Trades
(DARTs)

Equity
DARTs
were
reported
at
2.1
million,
a
5%
decline
from
June
2024
but
a
24%
increase
year-over-year.
Options
DARTs
remained
stable
month-over-month
at
0.9
million,
showing
a
29%
rise
year-over-year.
Crypto
DARTs
stayed
unchanged
from
June
2024
at
0.3
million,
reflecting
a
50%
increase
year-over-year.

For
more
detailed
definitions
and
additional
information
regarding
these
metrics,
please
refer
to
Robinhood’s
full
monthly
metrics
release
available
on
their
investor
relations
website.

About
Robinhood

Robinhood
Markets,
Inc.
aims
to
democratize
finance
for
all.
In
the
U.S.,
it
offers
commission-free
trading
of
U.S.
stocks,
options,
and
cryptocurrencies
through
Robinhood
Financial
LLC
and
Robinhood
Crypto,
LLC.
The
company
also
provides
debit
and
credit
card
services
through
Robinhood
Money,
LLC
and
Robinhood
Credit,
Inc.
In
the
UK
and
select
jurisdictions
in
the
European
Union,
Robinhood
offers
trading
services
through
its
subsidiaries.

Image
source:
Shutterstock