Webull Corporation reported a 46% year-over-year
increase in total revenue for the second quarter of 2025, reaching $131.5
million, as trading activity and user engagement accelerated. Customer assets
rose to an all-time high of $15.9 billion, supported by net deposits and market
recovery.
Revenue and Profitability
Trading-related revenue led the quarter with a 63%
increase compared to the same period last year. Total operating expenses grew
37%, largely due to $18.5 million in share-based compensation. Adjusted
operating expenses rose 20% to $108.2 million.
The company reported a loss before income taxes of
$21.4 million, reflecting $11 million in equity offering costs. Adjusted
operating profit totaled $23.3 million, up 18% year-over-year, while adjusted
operating profit per share was $0.05 for the quarter.
“We delivered strong business results in our first quarter
as a public company, with three consecutive quarters of operating profitability
and customer assets at an all-time high, underpinned by substantial growth in
trading volumes and net deposits,” said Anthony Denier, Group President and
U.S. CEO of Webull.
“The environment for retail self-directed trading was the
best we’ve seen since the COVID-19 pandemic, and with the market now in a new
era driven by a more discernible regulatory environment.
User Growth and Trading Volume
Webull expanded its user base, with registered users
increasing 18% to 24.9 million. Funded accounts rose 9% to 4.73 million.
Options contracts volume grew 8% to $127 million, while equity notional volume
jumped 58% to $161 billion. Customer assets rose 64% year-over-year to $15.9
billion, reflecting both market recovery and a 37% increase in net deposits.
In May, Webull launched the Latin America Webull App,
integrating platforms in Brazil and Mexico to support regional growth. In June,
the company re-entered the crypto market in Brazil and expanded its partnership with Kalshi to include cryptocurrency hourly contracts and Fed events trading.
Post-Quarter Developments
Following the quarter, Webull reinstated cryptocurrency trading for U.S. users and consolidated Webull Pay into the
Webull Group. Users across the U.S., Brazil, and Australia can now trade
equities, options, futures, prediction markets, and digital assets through a
single platform.
The company also entered a standby equity purchase
agreement, providing access to $1 billion in capital at its discretion. As of
August 28, 2025, $142.8 million had been raised under the agreement.
This article was written by Jared Kirui at www.financemagnates.com.
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