As per the recent stats of Earnings Before Interest, Taxes, Depreciation, and Amortization from Robinhood for its third yearly quarter performance, it is stated the fintech platform has been able to recover its losses loop, compared to the previous quarter’s losses this year.
This has been the situation for the platform due to losses in cryptocurrency markets in recent times. The company has witnessed a decrease in the monthly active users on the platform.
What are the recent statics from Robinhood?
The fintech company Robinhood has witnessed a decrease in its active monthly users by 1.8 million accounting for a total of 12.2 million in September this year. Along with this, the cryptocurrency transaction platform witness a decrease in the Crypto transactions by 12% compared to last year, which accounted for approximately $ 51 million on the platform.
The platform in its third yearly review has disclosed a net loss of $175 million against the market-analyzed $311 million loss for the same period. This fact resulted in a rise in the price of company shares by more than 4% in the stock exchange after-hours trading of the NASDAQ.
The platform also disclosed its earnings before interest, taxes, depreciation, and amortization (EBITDA) to a total of $47 million this was against the market analyst predictions of $48 million. The platform also witnessed a decrease in the total users at the platform to 12.2 million in September, this was a decrease of 1.8 million users from the last year.
The total net revenue loss the company has witnessed in recent times has increased by 14% against its second-quarter losses of $361 million. The total number of crypto translations on the platform also declined by 12% to the total value of $51 million against the $58 million in the last quarter.
The total revenue tractions at the Robinhood platform witnessed a rise of 3% from the second quarter of the total value of $208 million against the comparison of $202 million in the 2nd quarter of the year.
What is Robinhood?
Robinhood is an American financial service company, which has been headquartered in the California state of US and has been established in the year 2013. The platform works as a commission-free trade platform for the investment options like stocks, cryptocurrencies, and exchange-traded funds in the US.
The platform operates mainly with the help of its mobile app for all these operations for the users. The platform is a US SEC-registered broker-dealer platform in the US. As per the April 2022 statics, the platform Robinhood has been able to facilitate more than 2 million users the cryptocurrency wallet services.