Robinhood reports August assets under custody $89.7B, down 5%

Robinhood reported selected monthly operating data for August. Net cumulative funded accounts, or NCFA, at the end of August were 23.2M, up approximately 30,000 from July. Monthly active users, or MAU, decreased to 10.6M in August, down approximately 400,000 from July. Assets under custody, or AUC, at the end of August were $89.7B, down 5% from July. Net deposits were $1.6B in August, translating to a 20% annualized growth rate relative to July AUC. Over the last twelve months, net deposits were $17.6B, translating to an annual growth rate of 25% relative to August 2022 AUC. Trading volumes in August were slightly higher for options and lower for equities and crypto compared to July. Equity notional trading volumes were $59.8B. Options contracts traded were 107.3M. Crypto notional trading volumes were $2.2B. Margin Balances at the end of August were $3.5B, up 3% from July. Cash sweep balances at the end of August were $13.3B, up $0.6B from the end of July.