Robinhood Markets Inc. (HOOD) just had its best quarter for customer growth in almost five years, adding nearly 1 million funded accounts. And the company says SpaceX's blockbuster IPO played a big role.
During the earnings call, CFO Shiv Verma was asked about the jump. He pointed to several tailwinds: strong market conditions, new product launches, and the acquisition of WonderFi. But he also singled out the SpaceX IPO.
"One million funded customers, the most we've added in a quarter in nearly five years since the IPO… variety of different vectors… strong market backdrop… new products that came out. … We also had the SpaceX IPO, which helped. We had an acquisition in the quarter, which provided a couple hundred thousand accounts."
The message is clear: one of the year's biggest IPOs didn't just generate trading volume—it brought a fresh wave of retail investors to Robinhood's platform. SpaceX's public debut was a magnet, and Robinhood was there to catch the flow.
