Robinhood appears to have fallen out of favor with retail investors as its Q1 revenue slumped, recording a 43% decrease from $522M the year before.
The millennial-focused exchange Robinhood has experienced a sharp decline in trading activities for Q1 2022, according to the company’s latest financial report. The broader crypto market remaining bearish and the recent global equity selloffs have contributed to the disappointing financial figures, the report suggested.that the company’s total net revenue was $299 million, a 43% decrease from $522 million in the first quarter of 2021.
The company’s Adjusted EBITDA was negative $143 million – another striking decline from a positive $115 million recorded a year ago. Also, monthly active users fell 10% to 15.9 million for March 2022, compared with 17.7 million 12 months ago.that perhaps for the first time, its customers are experiencing the opposite of “low interest rates, low inflation, and rising markets.”
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