Net interest (cash sweep and margin)
Q2 2026 net interest revenue was $389 million, up 9% year over year, with the margin book up 127% to $21.6 billion.
The numbers
What it is
Income from margin lending and from customer cash swept into bank deposit programs, net of interest paid to customers. Over $6 billion of cash sweep balances moved to Cash and Deposits in February 2026, and the cash sweep balance was $29.7 billion at June 30, 2026, down 9%.
Why it matters to the stock. Net interest is the most rate-sensitive line. Fed decisions move it directly, and it was the second-largest source of revenue in 2025.
News
Robinhood February 2026: 27.4M funded customers, $314B platform assets, $5.6B net deposits
Robinhood's February 2026 operating data showed funded customers of 27.4 million and total platform assets of $314.2 billion at the end of February.
Robinhood guides 2026 adjusted operating expenses and SBC to $2.6B-$2.725B
In its Q4 2025 release, Robinhood guided 2026 non-GAAP adjusted operating expenses and stock-based compensation to $2.6 billion to $2.725 billion.