Robinhood Markets, Inc. (NASDAQ: HOOD) has released its operating data for May 2023, providing insights into the company’s performance.
The report highlights several key points. While the number of customers placing trades increased in May, Monthly Active Users (MAU) declined to 10.6 million, down approximately 900 thousand from April 2023. Nonetheless, the net cumulative funded accounts (NCFA) at the end of May were 23.1 million, up roughly 20 thousand from the previous month.
Assets Under Custody (AUC) also saw positive growth, reaching $81.8 billion, a 6% increase from April 2023. Net Deposits for May were $1.6 billion, translating to a 25% annualized growth rate compared to April 2023 AUC. Over the last twelve months, Net Deposits amounted to $16.5 billion, representing an annual growth rate of 22%.
Trading volumes experienced variation in May. Equity Notional Trading Volumes were $49.4 billion, up 27%, while Options Contracts Traded were 97.5 million, up 29%. However, Crypto Notional Trading Volumes decreased by 43% to $2.1 billion compared to April 2023.
Margin Balances remained steady at $3.1 billion, in line with April 2023. Meanwhile, Cash Sweep Balances at the end of May increased to $11.2 billion, a significant rise of $1.6 billion (16%) compared to April 2023.
Investors should note that the Net Cumulative Funded Accounts (NCFA) only includes unique users and does not account for customers opening multiple accounts.
For more detailed information on these metrics, investors can refer to Robinhood’s full monthly metrics update available on investors.robinhood.com.
It is important to mention that the information provided in the report is unaudited and based on Robinhood’s estimates. Final results for the most recent quarter may vary from the information presented in this release.
Robinhood Markets, Inc. is dedicated to democratizing finance, ensuring accessibility and inclusivity for all. The company offers various services such as no account minimum investment, cryptocurrency trading, savings, and educational content.