Robinhood Markets misses by $0.05, misses on revs, issues downside Q1 revenue guidance (11.61 -0.80)
- Reports Q4 (Dec) GAAP loss of $0.49 per share, $0.05 worse than the S&P Capital IQ estimate of ($0.44); revenues rose 14.2% year/year to $362.7 mln vs the $366.64 mln S&P Capital IQ Consensus.
- Options for the quarter increased 14% yr/yr to $163 million; Cryptocurrencies for the quarter increased 304% yr/yr to $48 million; Equities for the quarter decreased 35% to $52 million.
- Monthly Active Users (MAU) increased 48% to 17.3 million for December 2021, compared with 11.7 million for December 2020. On a sequential basis, MAU decreased 8% compared with 18.9 million for September 2021.
- Average Revenues Per User (ARPU) for the quarter decreased 39% to $64 on an annualized basis, compared with $106 in the fourth quarter of 2020.
- HOOD issues downsideguidance , expects 1Q22 revenue will be less than $340 mln vs. the $438.7 mln S&P Capital IQ consensus estimate. which assumes some incremental improvement in trading volumes versus what we have seen so far. At the top end, this implies a year-over-year revenue decline of 35% compared to the first quarter of 2021, during which we saw outsized revenue performance due to heightened trading activity, particularly relating to certain meme-stocks.
- For fiscal year 2022, Robinhood expects total operating expenses, excluding share-based compensation, to increase 15-20% year-over-year. Additionally, HOOD expects share-based compensation to decline 35-40% year-over-year.