Webull Reports Fourth Quarter and Full Year 2025 Financial Results

Core Insights - Webull Corporation reported record revenue of $571 million for the full year 2025, marking a 46% increase year-over-year, and net deposits reached $8.6 billion, a 91% increase [1][2] - The company aims to expand its product offerings globally while focusing on being the preferred platform for active, self-directed investors [1][2] Financial Results Fourth Quarter - Net income per ordinary share was $0.01, compared to a loss of $0.22 per share in the prior year [1] - Adjusted net income decreased to $14.6 million from $15.0 million year-over-year [1] - Total revenues for the quarter increased by 50% year-over-year to $165.2 million [1] - Trading-related revenue grew by 56% year-over-year [1] - Adjusted operating expenses rose by 62% year-over-year to $143.6 million, driven by increased marketing and branding expenses [1] Full Year - Net loss per ordinary share was $1.23, an improvement from a loss of $3.73 in the prior year [1] - Adjusted net income increased to $84.2 million, up from $7.9 million in the previous year [1] - Total operating expenses increased by 27% year-over-year, primarily due to higher brokerage and transaction costs [1] - Trading-related revenue increased by 59% year-over-year [1] Operating Results Fourth Quarter - Daily average revenue trades (DARTs) increased to 1.2 million, a 55% year-over-year growth [1] - Registered users grew by 15% year-over-year to 26.8 million [1] - Customer assets reached an all-time high of $24.6 billion, representing an 81% year-over-year growth [1] Full Year - Equity notional volume increased to $732 billion, a 59% year-over-year increase [1] - Options contracts volume rose to 550 million, a 19% year-over-year increase [1] Company Highlights Fourth Quarter - Partnership established with Meritz Financial Group to provide South Korean investors access to U.S. equity markets [2] - Launched corporate bond trading for U.S. customers [2] Full Year - Rolled out Level 3 Options for customers in Canada, Singapore, and Hong Kong [2] - Launched Webull in the European Union, providing access to European and U.S.-listed equities [2] - Introduced cryptocurrency trading in Australia and relaunched in the U.S. market [2]