Catenaa, Thursday, September 04, 2025- Webull Corporation (NASDAQ: BULL) reported robust second-quarter results, with total revenues climbing 46% year-over-year to $131.5 million, driven by heightened trading activity and user engagement.
Customer assets reached an all-time high of $15.9 billion, up 64% from last year, reflecting market recovery and strong net deposits.
The company achieved its third consecutive quarter of operating profitability, underscoring disciplined expense management.
Trading-related revenue surged 63% year-over-year, while operating expenses rose 37% to $135.2 million, largely due to $18.5 million in share-based compensation. Adjusted operating profit improved to $23.3 million, compared to a loss in the prior year. Adjusted net income rose to $15.4 million from a prior net loss of $1.5 million.
The company reported a net loss of $28.3 million, primarily reflecting accounting for the fair value of shares and warrants issued to preferred shareholders during its business combination with SK Growth Opportunities Corporation.
Webull expanded globally, launching its Latin America app in Brazil and Mexico, reintroducing crypto trading in Brazil, and adding cryptocurrency hourly contract and Fed events trading via a partnership with Kalshi.
US customers also regained crypto trading in July, while Webull Pay was consolidated back into the platform. The company secured a standby equity purchase agreement providing access to $1 billion, raising $142.8 million as of August 28, 2025.
Registered users reached 24.9 million, funded accounts rose 9% to 4.73 million, equity notional volume climbed 58% to $161 billion, and options contracts volume increased 8% to $127 million.
Webull highlighted its commitment to providing a comprehensive, all-in-one trading platform for retail investors globally.
