In Q4'25, HOOD's operation income reached $650M USD, marking a significant improvement from the initial loss of -$509M in Q1'23 and representing the highest quarterly figure in the observed period. The operation income exhibits a strong upward trend from Q1'23 to Q4'25, transitioning from negative values in early quarters to consistent profitability starting in Q2'23, with notable acceleration in 2024 and 2025 driven by peaks of $556M in Q4'24 and $650M in Q4'25. Year-over-year growth has been robust overall, averaging multi-fold increases (e.g., 20.38x in Q4'24), though it shows volatility with dips like 16.9% in Q4'25; key inflection points include the shift to positive YoY in Q2'23 and sustained high growth in Q3'24 (3.07x) and Q3'25 (3.21x), underscoring improving operational efficiency.