Building Early

I’m even more bullish on $HOOD HOOD -7% on a 47% crypto revenue collapse. The bear take is obvious. Here’s why it’s actually bullish. Crypto revenue fell to $134M, down 47% YoY. Stock got punished. Story over, right? Look at what replaced it… → Event contracts revenue up 320% YoY to $147M, a record 8.8B contracts traded → Equities revenue +46%, options +8% → Total transaction revenue still grew despite crypto getting cut nearly in half The thesis was always that HOOD was a levered bet on crypto cycles. Q1 just proved the opposite. They absorbed a 47% hit to one of their biggest revenue lines and transaction revenue still went up. That’s not a crypto company anymore. That’s a diversified retail platform where prediction markets, options, and equities can carry the quarter when digital assets roll over. The market is pricing this like crypto weakness = HOOD weakness. But the correlation is breaking in real time. Subscription services and prediction markets are stepping into the lead role. Tenev’s still investing in crypto infrastructure for the next cycle, so you get the diversification plus the optionality when crypto comes back. Bear case… cyclical business missed estimates. Bull case… this was the stress test, and the new revenue mix passed it. Ima buyer of the post earnings de-rating.

The safest investments for the coming decade are Nvidia, Google, and Meta and I don’t think anything else comes close

$HOOD has multiple business Units generating over $100 Million per year. Some didn’t even exist 2 years ago. And your telling me your bearish?

$HOOD earnings snapshot:

100 followers!! Such an exciting milestone for only starting this account a few weeks ago I hope to keep learning and sharing my experiences Long $HOOD

$HOOD 🚨BREAKING NEWS🚨 Net income Q4 2025 =605 Million Net income Q1 2026 = 346 Million 🚩

Dave Ramsey says a $600 pressure washing job can be the first step to making 150K a year "You don’t want to be 63 years old still pressure washing. But to get through this week, you can do a lot of pressure washing" "Use the pressure washing money to pay $10,000 for code school, then go make 150K a year coding, every move should be a step toward where you want to be in 10 years"

"First-time home buying plunges to record low as baby boomers prevent younger Americans from ever owning," per NYP.

$HOOD Q1’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $1.07B (Est. $1.17B) 🔴; +15% YoY 🔹 EPS: $0.38 (Est. $0.41) 🔴; +3% YoY 🔹 Net Deposits: $17.7B; 22% annualized growth rate 🔹 Gold Subscribers: 4.3M; +36% YoY 🔹 Total Platform Assets: $307B; +39% YoY 🔹 Funded Customers: 27.4M; +6% YoY FY Guide: 🔹 Adj. Operating Expenses + SBC: $2.7B-$2.825B 🔹 Prior Adj. Operating Expenses + SBC Guide: $2.6B-$2.725B 🔹 Trump Accounts Investment: Additional $100M Segment Performance: 🔹 Transaction-Based Revenue: $623M; +7% YoY 🔹 Options Revenue: $260M; +8% YoY 🔹 Equities Revenue: $82M; +46% YoY 🔹 Crypto Revenue: $134M; -47% YoY 🔹 Other Transaction Revenue: $147M; +320% YoY 🔹 Net Interest Revenue: $359M; +24% YoY 🔹 Other Revenue: $85M; +57% YoY 🔹 Robinhood Gold Subscription Revenue: $50M; +32% YoY Other Metrics: 🔹 Investment Accounts: 29.1M; +8% YoY 🔹 ARPU: $157; +8% YoY 🔹 Robinhood Retirement AUC: $27.4B; +90% YoY 🔹 Margin Book: $17.0B; +93% YoY 🔹 Cash and Deposits: $16.7B; +71% YoY 🔹 Cash Sweep: $26.0B; -8% YoY 🔹 Equity Notional Trading Volumes: $638B; +54% YoY 🔹 Options Contracts Traded: 586M; +17% YoY 🔹 Crypto Notional Trading Volumes: $66B 🔹 Event Contracts Traded: Record 8.8B 🔹 Robinhood Banking: Over $2B in deposits from over 125,000 Funded Customers 🔹 Robinhood Strategies: Over 285,000 Funded Customers with over $1.6B AUM 🔹 Robinhood Gold Card: Over 800,000 Funded Customers Financials: 🔹 Net Income: $346M; +3% YoY 🔹 Net Income Attributable To Robinhood: $350M; +4% YoY 🔹 Operating Expenses: $656M; +18% YoY 🔹 Adj. Operating Expenses + SBC: $607M; +14% YoY 🔹 Adj. EBITDA: $534M; +14% YoY 🔹 Cash and Cash Equivalents: $5.0B Capital Return: 🔹 Buybacks: $250M, representing 3.1M shares at ~$81/share 🔹 Total Buybacks Since Q3’24: $1.2B, representing 25M shares at ~$46/share 🔹 Authorization: Refreshed to $1.5B, expected over next ~3 years Commentary: 🔸 “Driven by our relentless product velocity and innovation, Robinhood is increasingly positioned at the center of our customers’ financial lives, just as we enter the early innings of the Great Wealth Transfer,” 🔸 “In Q1, customers remained engaged and rapidly adopted new products, leading to a 20 percent-plus annualized net deposit growth rate, double digit growth across equities and options, and record volumes for prediction markets, futures, and index options,” 🔸 “And Q2 is off to a good start in April, as equity and option trading volumes are on track to be the highest month of the year, and even with tax season, net deposits are approximately $5 billion month-to-date.”