TLDR
Webull surges on 46% revenue jump, turning profits in Q2 2025. Shares climb as Webull posts record growth and trading rebound. Webull Q2: revenue up 46%, user assets hit $15.9B milestone. Crypto relaunch and global push fuel Webull’s strong earnings. From losses to profits: Webull’s first post-IPO quarter shines.Webull Corporation reported strong second-quarter results for 2025, sending its shares higher during and after trading hours. The stock closed at $14.67 on August 28, marking a 1.59% gain, then advanced to $15.05 in after-hours trading. The rise followed solid revenue growth, improving operating performance, and strategic product expansion.
The quarter marked Webull’s first full period as a public company after its recent business combination. It delivered a 46% year-over-year increase in total revenue, reaching $131.5 million. Trading-related revenue led the charge, climbing 63% compared to the prior year.
Webull, $BULL, Q2-25. Results:
📊 Adj. EPS: $0.05
💰 Revenue: $131.5M
📈 Net Loss: $518.9M
🔎 First earnings since going public: three straight quarters of operating profitability, record customer assets, and adjusted net income of $15.4M. pic.twitter.com/XKTPYbE9KM
— EarningsTime (@Earnings_Time) August 28, 2025
While operating expenses rose 37%, driven by share-based compensation, adjusted operating costs were up only 20%. The company posted an adjusted operating profit of $23.3 million, reversing a loss from the prior year. Loss before income taxes totaled $21.4 million, mainly due to $11 million in equity offering expenses.
Adjusted net income grew from a $1.5 million loss to $15.4 million, while net loss attributable to shareholders widened due to dividend-related accounting. The loss per ordinary share reached $1.20, impacted by share and warrant issuance during the SK Growth business combination. However, adjusted operating profit per share climbed to $0.05 for the quarter.
User Growth, Customer Assets Hit New Highs
Webull saw funded accounts rise to 4.73 million, showing 9% annual growth. Registered users also expanded 18% year-over-year, reaching 24.9 million by quarter-end. Customer assets hit an all-time high of $15.9 billion, up 64% from a year earlier.
Trading activity continued to grow, with options volume increasing 8% to $127 million. Equity notional volume climbed 58%, totaling $161 billion for the quarter. Strong net deposits and a favorable trading environment helped fuel these gains.
Webull maintained its momentum with efficient cost management and expanding product lines. The retail self-directed trading space showed renewed strength, aiding platform engagement. The firm highlighted increased usage from active traders and stronger retention metrics.
Crypto Relaunch and Global Expansion Drive Future Outlook
During the quarter, Webull resumed its cryptocurrency expansion by launching crypto trading in Brazil. It also consolidated its Latin America platform to support streamlined growth across Brazil and Mexico. These moves reflect broader demand for digital assets and unified user experiences.
In the U.S., Webull reintroduced crypto trading in July, bringing the offering back to domestic users. It now supports crypto, equities, options, futures, and prediction markets through one platform. Expansion efforts continue as the company pursues licenses in additional markets.
Webull also raised over $200 million by redeeming BULLZ warrants and accessed $142.8 million through a $1 billion standby equity agreement. These capital inflows strengthen the firm’s ability to scale globally. Leadership reaffirmed their commitment to growth while managing profitability effectively.
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