Webull Corp Reports Strong 2025 Financials with 46% Revenue Growth and Return to Profitability
BULL is trading near its 52-week low of $4.5 (13% above the low).
Summary
Webull Corp reported a significant financial turnaround in 2025 with 46% revenue growth and a return to net income, driven by strong customer acquisition and trading activity, alongside strategic business developments.
Key Events · Earnings and Guidance · BULL
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Strong 2025 Financial Performance
Total revenues increased by 46.3% to $571.0 million in 2025, up from $390.2 million in 2024. The company achieved a net income of $24.8 million in 2025, a significant improvement from a net loss of $22.7 million in the prior year.
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Significant Customer and Asset Growth
Customer assets surged by 80.9% to $24.6 billion as of December 31, 2025, from $13.6 billion in 2024. Funded accounts grew to 5.0 million, and registered users reached 26.8 million globally.
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Increased Trading Activity
Daily Average Revenue Trades (DARTs) increased by 53.8% to 1.2 million in Q4 2025, and equity notional volume rose by 86.7% to $239 billion in the same period, reflecting heightened customer engagement.
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Re-acquisition of Digital Assets Business
On September 26, 2025, Webull re-acquired Webull Pay Inc., reintegrating its digital assets business and cryptocurrency trading services into the company's offerings.
Analysis · BULL · Crypto Assets
Webull Corp's 20-F filing reveals a robust financial performance for fiscal year 2025, marked by significant revenue growth and a return to GAAP net income. The company's total revenues surged by 46.3% to $571.0 million, and it achieved a net income of $24.8 million, a substantial turnaround from a $22.7 million net loss in 2024. This strong performance is underpinned by impressive growth in key operating metrics, including a near doubling of customer assets to $24.6 billion and a 53.8% increase in daily average revenue trades (DARTs). The filing also confirms the strategic re-acquisition of its digital assets business, Webull Pay, and the termination of a $1 billion standby equity purchase agreement, removing a potential dilutive overhang. While the net loss attributable to ordinary shareholders remains high, this is primarily due to non-cash accounting adjustments related to preferred share conversions and the business combination, rather than operational performance. Investors should view these results as a strong indicator of Webull's expanding market presence and operational efficiency.
At the time of this filing, BULL was trading at $5.10 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $4.50 to $79.56. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.