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MENLO PARK , Calif . October 26 , 2021 Robinhood Markets , Inc. ( " Robinhood " ) ( NASDAQ : HOOD ) today announced financial results for the third quarter ended September 30 , 2021 . Total net revenues increased 35 % to $ 365 million , compared with $ 270 million in the third quarter of 2020 . Transaction - based revenues increased 32 % to $ 267 million , compared with $ 202 million in the third quarter of 2020 . O Robinhood Reports Third Quarter 2021 Results O O Options increased 29 % to $ 164 million , compared with $ 127 million in the third quarter of 2020 . Cryptocurrencies increased 860 % to $ 51 million , compared to $ 5 million in the third quarter of 2020 . Equities decreased 27 % to $ 50 million , compared with $ 69 million in the third quarter of 2020 . Loss before income tax was $ 1.37 billion , compared with loss before income tax of $ 11 million in the third quarter of 2020. Share - based compensation expense totaled $ 1.24 billion in the third quarter of 2021 of which $ 1.01 billion was recognized upon our IPO . Net loss was $ 1.32 billion , or $ 2.06 per diluted share , compared with net loss of $ 11 million , or $ 0.05 per diluted share in the third quarter of 2020 . Adjusted EBITDA ( non - GAAP ) was negative $ 84 million , compared with positive $ 59 million in the third quarter of 2020 . Net Cumulative Funded Accounts increased 97 % to 22.4 million , compared with 11.4 million in the third quarter of 2020 . Monthly Active Users ( MAU ) increased 76 % to 18.9 million , compared with 10.7 million in the third quarter of 2020 . Assets Under Custody ( AUC ) increased 115 % to $ 95 billion , compared with $ 44 billion in the third quarter of 2020 . Average Revenues Per User ( ARPU ) decreased 36 % to $ 65 , compared with $ 102 in the third quarter of 2020 . Crypto activity declined from record highs in the prior quarter , leading to considerably fewer new funded accounts , a slight decline in Net Cumulative Funded Accounts , and lower revenue in the third quarter of 2021 compared with the second quarter of 2021 . " This quarter was about developing more products and services for our customers , including crypto wallets , " said Vlad Tenev , CEO and Co - Founder of Robinhood Markets . " More than one million people have joined our crypto wallets waitlist to date . With 24/7 live phone support , we believe that Robinhood is becoming the most trusted and intuitive platform for retail and crypto investors . And looking ahead , we're committed to delivering tax advantaged retirement accounts to help everyone invest for the long term . " Highlights Robinhood Delivers on Customer Service Robinhood recently launched 24/7 live phone support in our app , giving customers the ability to get phone support at any time and on any topic . Robinhood is the first major crypto platform to provide 24/7 phone support . Robinhood's interactive triage flow can pinpoint where support is needed , connecting customers with a representative who can provide a fast and personalized resolution . Robinhood Announces Multiple Improvements to its Crypto Platform Robinhood opened the waitlist for crypto wallets , one of its most heavily requested products . More than 1 million customers have signed up to date . Robinhood's crypto wallets feature is designed to help make crypto more accessible for the average investor , with an intuitive user experience and low - cost , competitive pricing . The feature is being built in public , gathering critical feedback from customers , and employing new multi - factor authentication verification in - app to ensure a secure and reliable experience .