Robinhood Other Revenues Breakdown — Gold Subscription

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This page presents Robinhood’s other revenues breakdown by category, consisting of:

• gold subscription revenues,
• proxy revenues, and
• other.

Let’s look at the revenue results!

For other statistics of Robinhood, you may find more information on this page: Robinhood key stats.

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Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Gold Subscription Revenues:

Robinhood defines a Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment.

Proxy Revenues:

Robinhood earns proxy revenue directly from issuers through Say Technologies, a wholly-owned subsidiary. Proxy services are made up of two performance obligations, (i) distribution of proxy materials to shareholders and (ii) collection, tallying, and reporting of shareholder response during a voting event. Revenue is recognized at a point in time upon satisfaction of these performance obligations.

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Insight & Summary of Robinhood’s Other Revenues Breakdown By Category

Robinhood’s other revenues — Gold subscriptions, proxy revenues, and a small residual “Other” line — nearly tripled from $120M in FY2022 to $331M in FY2025, growing from a minor contributor into a meaningful, high-margin complement to transaction and interest revenue.

• Gold subscriptions have become the anchor of the category. Gold revenue rose from $68M to $179M over the period, and its share of the total actually held remarkably steady in the 50–57% band throughout, even as the other line items grew even faster in percentage terms. Growth accelerated sharply — from 10.3% in FY2023 to 45.3% in FY2024 and 64.2% in FY2025 — pointing to compounding subscriber adoption rather than a one-off pricing change.

• Proxy revenues plateaued while their relative weight shrank. Proxy revenue grew from $44M to a peak of $61M in FY2023, then essentially flattened ($60M in FY2024, $63M in FY2025). Because the rest of the category kept expanding, proxy’s mix share nearly halved, from 36.7% in FY2022 to 19.0% in FY2025 — a structural dilution rather than a decline in the underlying business.

• The “Other” line is the fastest-growing but still the smallest, and its swings are the most volatile. It grew from $8M to $89M — an 11x increase — including a 242.3% jump in FY2025 alone, lifting its mix share from 6.7% to 26.9%. Because this bucket is small and undefined by category, its growth rate is naturally noisier and more sensitive to one-off items than Gold or proxy revenue.

• Structural Takeaway: Other revenues are shifting from a proxy-revenue-led mix toward a Gold-subscription-and-“Other”-led mix — Gold remains the single largest and most stable contributor, while “Other” is now the fastest-expanding piece and could plausibly close the gap with proxy revenue in the next year or two if its FY2025 pace persists. Proxy revenue, tied to shareholder-vote volume and share-lending-adjacent mechanics, looks structurally capped without a change in the underlying driver, so continued growth in the category will depend increasingly on subscriber-driven Gold revenue and on however “Other” ultimately gets decomposed with additional disclosure.

The table below combines all key Robinhood’s other revenues metrics into a single view for the latest three fiscal years.

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Other revenues breakdown by category

Robinhood’s definition of gold subscriber and proxy revenue is available here: gold subscription revenues and proxy revenues.

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Other revenues mix by category

Robinhood’s definition of gold subscriber and proxy revenue is available here: gold subscription revenues and proxy revenues.

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Other revenues growth by category

Robinhood’s definition of gold subscriber and proxy revenue is available here: gold subscription revenues and proxy revenues.

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Credits And References

1. All data presented in this article were obtained and referenced from Robinhood’s quarterly and annual reports published on the company’s IR: Robinhood Investor Relations.

2. Pexels Images.

Disclosure

We may use artificial intelligence (AI) tools to assist us in writing some of the text in this article. However, the data is directly obtained from original sources (usually the quarterly and annual reports) and meticulously cross-checked by our editors multiple times to ensure its accuracy and reliability.

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