Quarterly guidance

Quarterly guidance
No quarterly guidance was given.

Annual guidance

Adjusted OpEx (including SBC)
$2.675 billion to $2.75 billion

Outlook

Net deposits
The company has already exceeded its 20% annual growth target with two months left in the year.
Robinhood Gold
Viewed as a loyalty product rather than just a subscription, with significant runway for growth and adoption.
International expansion
Momentum is accelerating in established markets and new regions like Dubai and Singapore.
Prediction markets
Management believes it is early innings and is investing to be a leader, with a focus on non-sports contracts.
Expense philosophy
The company maintains a disciplined approach, reinvesting efficiencies from core businesses into new growth areas.
Rate environment
A rate hike is considered a tailwind for the business, though the company is diversified to perform well in various rate environments.