New York, Feb 12, 2026, 07:06 (ET) — Premarket
- Robinhood shares ticked up roughly 2% ahead of the bell, following a sharp slide the previous session.
- Even with crypto revenue dropping in the quarter, the company still notched record net revenue for 2025.
- Expense strategies, crypto valuations, and the March 4 product event are drawing investor attention right now.
Robinhood Markets, Inc. (HOOD) bounced back in premarket hours Thursday, climbing roughly 1.6% to $79.26. That move followed an 8.9% drop to $77.97 at Wednesday’s close.
The rebound lands as anxiety lingers over crypto-connected brokers. Robinhood’s earnings continue to track digital-asset moves, with the latest quarterly report once again showing just how exposed it is.
The company’s bet on transaction revenue from active traders is front and center, despite ongoing efforts to ramp up more stable lines like interest income and subscriptions. The core question from the market hasn’t changed: are customers actually trading, or just staying put?
Robinhood reported in a filing that total net revenue for the fourth quarter jumped 27% to $1.28 billion. Net income, however, slid 34%, coming in at $605 million, or 66 cents per share. Transaction-based revenue hit $776 million, offsetting a 38% plunge in crypto revenue, which dropped to $221 million. The company is targeting 2026 adjusted operating expenses and share-based compensation between $2.6 billion and $2.725 billion.
Earnings beat estimates, but revenue missed the $1.36 billion mark analysts were looking for, according to Investor’s Business Daily. The number of monthly active users slid 13% year-over-year, down to 13 million. So, rising customer numbers didn’t translate into engagement gains.
Robinhood has named Shiv Verma as its new chief financial officer, according to a separate SEC filing. Verma steps in effective Feb. 6. The filing also noted that Jason Warnick, the previous CFO, transitioned to an advisory post and is set to stay on staff until Sept. 1.
Warnick disclosed unloading 125,000 Class A shares on Feb. 9 at a weighted-average price of $85.0882, according to an SEC Form 4. The document notes the sale was executed under a Rule 10b5-1 plan—an automated program set up in August 2025.
Robinhood is dipping its toes into blockchain tech, rolling out tests for Robinhood Chain, its proprietary platform constructed on Arbitrum. Arbitrum is a so-called “layer-2” network, designed to speed up and cut costs for transactions on Ethereum. Crypto head Johann Kerbrat told Fortune that, once the mainnet launches, “Customers will be able to interact directly with it.” Fortune
Analysts kept paring estimates. Ken Worthington at J.P. Morgan lowered his price target on the stock to $113 from $130, sticking with a neutral call. He described Robinhood’s growth as “impressive but decelerating,” according to Barron’s. Barron’s
Piper Sandler trimmed its price target to $135 from the previous $155 but stuck with its overweight call, according to Investing.com. The brokerage pointed to a slowdown in both crypto trading and net deposits. It also noted that prediction-markets activity might drop off after football season, despite new features rolling out.
The stock is still moving with the crypto crowd—sometimes that’s good, sometimes not. Bitcoin struggled to hold $67,000, dragging down crypto-linked names like Coinbase and Strategy last session. Now, traders have their eyes on Friday’s U.S. consumer price numbers, searching for any hint about rates and appetite for risk.
Vlad Tenev, the chief executive, is steering the conversation toward prediction markets—contracts based on real-world results—telling investors, per Investopedia and the earnings call transcript, that the company is moving into a “prediction market supercycle.” Next up: Robinhood’s “Take Flight” event set for March 4, where Tenev is slated to unveil new products. investopedia.com
