Public vs Robinhood
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Robinhood monetizes trading volume via PFOF; Public deliberately built a non-PFOF, research-and-yield model for mature investors.
At a glance
| Metric | Public | Robinhood |
|---|---|---|
| Revenue | Not disclosed (private; multi-asset fee + interest mix) | $4.5B (FY2025); $1.07B in Q1 2026 |
| Profit | Private; scaling unit economics | $1.9B net income (FY2025); $346M in Q1'26 |
| Active users | 3M+ members | 27.4M funded customers |
| Employees | ~877 (May 2026) | ~3,800+ |
| Founded | 2019 | 2013 |
| HQ | New York, NY | Menlo Park, USA |
LLitmus Framework Score
Overall: Public 89 · Robinhood 82
Customer Segment
94
88
Value Proposition
96
85
Marketing Channel
88
82
Engagement
90
80
Income Source
85
86
Asset Validation
92
83
Core Operations
89
78
Strategic Alliance
84
75
Expense Validation
87
84
Public leads 8 modules, Robinhood leads 1. Overall edge: Public.
Head to head
| Dimension | Public | Robinhood |
|---|---|---|
| PFOF | Dropped in 2021 (tipping instead) | Core revenue source |
| Top revenue line | Interest/interchange on cash (~50%) | PFOF + Robinhood Gold + net interest |
| Target user | Mass-affluent ($10k-$100k) | Mass-market beginners |
| Asset menu | Stocks, options, bonds, T-bills, crypto, alts | Stocks, options, crypto, retirement |
| Differentiator | Alpha AI research subscription | Simplicity + scale |
FAQ
Is Public or Robinhood a better business?
Robinhood monetizes trading volume via PFOF; Public deliberately built a non-PFOF, research-and-yield model for mature investors. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Public and Robinhood's business model?
Public operates in Fintech / Investing (Invest in everything), while Robinhood is Fintech (Investing for Everyone). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Public or Robinhood?
Public: Private; scaling unit economics. Robinhood: $1.9B net income (FY2025); $346M in Q1'26.