Robinhood’s stock experienced a sharp decline after the company reported its latest quarterly results. While Robinhood saw a significant surge in crypto-related revenue, with digital asset transaction revenue soaring over 200% to $268 million and total net income rising 271% year-over-year to $556 million, investors remained cautious.

Despite beating analyst expectations on overall earnings, the company’s guidance on future expenses did not meet Wall Street’s hopes. Robinhood warned that its operating expenses would likely increase, driven by planned investments in growth initiatives and technology. This outlook on costs seemed to disappoint investors, contributing to the slide in share price.

Adding to the investor unease, Robinhood announced that its Chief Financial Officer, Jason Warnick, would be stepping down. The company has begun the search for a new CFO to help guide its next phase of development.

As the platform continues to navigate the evolving digital asset landscape and adapt to shifting regulatory and market conditions, Robinhood’s financial performance and executive changes remain in sharp focus for both customers and shareholders.