Robinhood released its Q4 and full-year 2022 earnings on Wednesday, slightly missing on analysts’ expectations.
The trading platform posted $380M in revenue, up 5% from the previous quarter and up 5% YoY. Robinhood narrowed its Q4 net loss to $166M from $423M reported during the same period in 2021 and from a loss of $175M reported in Q3 2022.
- EPS was negative 19 cents, down from negative 20 cents reported in Q3 and negative 49 cents reported in Q4 2021.
- Robinhood reported $186M in transaction-based revenue, down 30% YoY.
- Robinhood co-founders Vlad Tenev and Baiju Bhatt canceled about $500M of their share-based compensation.
- Robinhood said its board has approved a plan to buy back FTX founder Sam Bankman-Fried’s ~7% stake in the company.
- Bankman-Fried purchased 55 million shares of Robinhood in May 2022 through Emergent Fidelity Technologies.
- Robinhood said it is working with the DOJ, which seized the shares in January, to recover the shares.
