"Crypto activity came off record highs leading to fewer new funded accounts and lower revenue," CEO Vlad Tenev said.
The uncapped waitlist for the crypto wallet will be released on Wednesday ahead of the launch. Rivals Coinbase and Gemini already offer their own.
The feature, discovered by developer Steve Moser, is called Early Direct Deposit. The code suggests it will charge no fee, per a Bloomberg report.
"Can we get a Robinhood hat and hoodie jacket?" asked one shareholder during Robinhood's second-quarter earnings call.