Webull Corporation Class A Ordinary Shares (BULL) income statement
NASDAQ · Technology · Software - Application · 1,396 employees · CEO Anquan Wang
- Price
- $5.17 -3.00%
- Market cap
- $2.49B
- Enterprise value
- $1.87B
- Last report
- Q2 '26 filed 2026-09-11
- Next report
- 2026-11-19 EPS est. $0.07
Webull Corporation Class A Ordinary Shares (BULL) reported revenue of $199M for Q2 '26 (+51.2% year on year), operating income of $45.5M (22.9% of revenue) and net income of $24.4M. Over the last four quarters revenue was $681M.
Income statement
| Income statement | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $99.6M | $84.5M | $88.9M | $89.9M | $102M | $108M | $117M | $131M | $157M | $165M | $160M | $199M | |
| Cost of revenue | $16.7M | $17.5M | $17.9M | $19M | $19.8M | $22.6M | $23.2M | $34.8M | $35.6M | $35.1M | $38.4M | $44.3M | |
| Gross profit | $82.9M | $67M | $71M | $70.9M | $82M | $85.1M | $94.1M | $96.7M | $121M | $130M | $122M | $154M | |
| Research & development | $12.6M | $12.4M | $14.9M | $15M | $16.4M | $17.5M | $16.9M | $19.1M | $22.5M | $20.6M | $23.9M | $0 | |
| Sales & marketing | $22.5M | $46.6M | $34M | $33.2M | $47.1M | $19M | $23M | $30.3M | $29.4M | $43.2M | $49.4M | $0 | |
| General & administrative | $30.3M | $18.8M | $31.9M | $31.6M | $27.3M | $31.7M | $33.6M | $51M | $45M | $45.9M | $50.6M | $0 | |
| Other operating expenses | $1.07M | $3.51M | $0 | $0 | $1.85M | $1.85M | $0 | $0 | $0 | $3.23M | $0 | $109M | |
| Operating expenses | $66.4M | $81.2M | $80.8M | $79.8M | $92.8M | $70.1M | $73.5M | $100M | $96.9M | $113M | $124M | $109M | |
| Operating income | $16.5M | -$14.2M | -$9.81M | -$8.87M | -$10.7M | $15M | $20.6M | -$3.73M | $24.4M | $17.2M | -$2.38M | $45.5M | |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $43.5M | $40.1M | $42.8M | |
| Other non-operating income (gains on investments, FX ...) | $2.32M | $2.31M | $26.5K | $1.42M | -$1.47M | -$2.43M | $1.09M | $17.7M | -$14.5M | $9.07M | $10.4M | $10.8M | |
| Total non-operating income | -$2.32M | -$2.31M | -$26.5K | -$1.42M | $1.47M | $2.27M | -$1.09M | -$17.7M | $14.5M | -$9.07M | -$10.4M | -$10.8M | |
| Income before tax | $14.2M | -$16.5M | -$9.84M | -$10.3M | -$9.24M | $17.3M | $19.5M | -$21.4M | $39M | $8.13M | -$12.8M | $34.7M | |
| Income tax | $7.06M | -$2.88M | $2.72M | $1.4M | $331K | $9.38M | $6.56M | $7M | $2.16M | $5.12M | $8.93M | $10.3M | |
| Net income | $7.36M | -$13.5M | -$12.4M | -$11.6M | -$9.45M | $10.8M | $13.1M | -$28.3M | $36.9M | $3.04M | -$21.7M | $24.4M | |
| EPS (basic) | $0.48 | -$1.45 | -$2.39 | -$0.05 | $1.39 | $0.00 | -$0.02 | -$1.20 | $0.08 | $0.01 | -$0.04 | $0.05 | |
| EPS (diluted) | $0.48 | -$1.45 | -$2.39 | -$0.05 | $1.39 | $0.00 | -$0.02 | -$1.20 | $0.07 | $0.01 | -$0.04 | $0.04 | |
| Shares (basic, weighted) | 459M | 459M | 459M | 459M | 459M | 460M | 461M | 431M | 490M | 522M | 526M | 531M | |
| Shares (diluted, weighted) | 459M | 459M | 459M | 459M | 459M | 460M | 461M | 431M | 508M | 522M | 526M | 543M | |
| Depreciation & amortization | $719K | $787K | $924K | $866K | $850K | $866K | $0 | $1.37M | $0 | $0 | $0 | $0 | |
| EBITDA | $14.9M | -$15.8M | -$8.91M | -$9.42M | -$8.39M | $18.3M | $19.5M | -$20M | $39M | $8.13M | -$12.8M | $34.7M |
| Income statement | Trend | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $388M | $390M | $390M | $571M | |
| Cost of revenue | $0 | $59.8M | $66.4M | $79.3M | $129M | |
| Gross profit | $0 | $329M | $323M | $311M | $442M | |
| Research & development | $0 | $46.8M | $52.2M | $63.8M | $79.2M | |
| Sales & marketing | $0 | $133M | $147M | $132M | $126M | |
| General & administrative | $0 | $77M | $96M | $123M | $176M | |
| Other operating expenses | $0 | $3.5M | $4.68M | $6.67M | $3.23M | |
| Operating expenses | $33.8K | $260M | $300M | $325M | $384M | |
| Operating income | -$33.8K | $68.6M | $23M | -$14.4M | $58.5M | |
| Interest income | $0 | $1.41M | $0 | $0 | $154M | |
| Interest expense | $0 | $0 | $0 | $123K | $5.46M | |
| Other non-operating income (gains on investments, FX ...) | $0 | $2.87M | $2.8M | -$2.43M | $7.81M | |
| Total non-operating income | $0 | -$2.87M | -$2.8M | $2.3M | -$13.3M | |
| Income before tax | -$33.8K | $65.7M | $20.2M | -$12.1M | $45.2M | |
| Income tax | $0 | $32.2M | $16.1M | $13.8M | $20.8M | |
| Net income | -$33.8K | $50.1M | $6.07M | -$22.7M | $24.8M | |
| EPS (basic) | -$0.00 | -$0.00 | -$0.73 | -$1.13 | $0.06 | |
| EPS (diluted) | -$0.00 | -$0.00 | -$0.73 | -$1.13 | $0.06 | |
| Shares (basic, weighted) | 500M | 459M | 459M | 459M | 397M | |
| Shares (diluted, weighted) | 500M | 459M | 459M | 459M | 397M | |
| Depreciation & amortization | $0 | $4.77M | $2.78M | $3.51M | $3.2M | |
| EBITDA | -$33.8K | $70.5M | $23M | -$8.42M | $53.9M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings.
Data as of 2026-11-02