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Analyst
Ed Engel
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q2 (6 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 0%none of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
HOODRobinhood Markets, Inc.6 questions · 6 reporting periods · 0 of 6 challenging
Calendar 2026 Q2
do you see any opportunity to kind of improve your economics by partnering with different exchanges
Show response
Vlad said both are true, Rothera gets more flow while Robinhood keeps diversifying across ForecastEx, Kalshi and other counterparties.
Calendar 2026 Q1
did you give an update on how April crypto volumes are trending relative to the past few months
Show response
Shiv acknowledged crypto volumes roughly flat with Q1 while emphasizing strong rebounds in equities, options, and prediction markets.
Calendar 2025 Q4
How are you thinking about the opportunity around Trump accounts and their launch this year
Show response
Vlad confirmed involvement from inception including White House summit. Offered best engineering talent if selected for a role. Could not share details. Noted recent summit showed strong contributions and donations indicating bright program future.
Calendar 2025 Q3
How does M&A play into that strategy? And can we expect you to kind of continue kind of launching market by market? Or could they create an opportunity to kind of launching a couple of markets simu...
Show response
Jason confirmed mix of organic and M&A for international expansion. Noted active corp dev team led by Shiv. Deals pursued when great team, technology, and ability to accelerate roadmap align.
Calendar 2025 Q2
Curious whether your mindset has changed on that, especially just given some of the recent rollouts you've had in the banking side
Show response
Vlad explained partnership model has delivered all needed capabilities including $30B cash sweep. Banking charter pros haven't outweighed cons yet but remains open to reevaluation as lending expands.
Calendar 2025 Q1
what does kind of that core run rate cost base looks like? Is there any opportunities for savings there?
Show response
Jason noted the $85M includes deal-related costs that will decline, with opportunity to reduce run rate by next quarter. Did not quantify long-term cost base.
COINCoinbase Global1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q3
are you still ramping up hiring through the end of the year? Or is most of that headcount growth behind us?
Show response
Alesia broke down Q4 expense growth: ~$100M QoQ increase, half from Deribit/Echo acquisitions, half from headcount. Hiring continues but at a much slower rate than Q3.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HOOD Robinhood Markets, Inc. | 6 | 0%none of 6 questions |
| COIN Coinbase Global | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 2 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Product Launch3
- Regulation Policy2
- Cost Pressure2
- M&A2
- Competitive Dynamics1
- Capital Allocation1
- Revenue Growth1
- Demand1
- Margin1
- Geographic Expansion1