TLDR
- Webull stock fell 8.56% to $12.34 after strong Q1 results.
- Revenue grew 32% YoY, reaching $117.4 million.
- Net income rose to $12.9 million from a $12.6 million loss last year.
- Customer assets surged 45% to $12.6 billion.
- User base hit 24.1 million; funded accounts rose to 4.7 million.
Webull Corporation (NASDAQ: BULL) reported its Q1 2025 financial results on May 23, 2025, with shares trading at $12.34, down 8.56% in afternoon trading.
Webull Corporation ($BULL) Stock
Despite the stock drop, the company delivered a strong quarter marked by significant revenue growth and a return to profitability.
Total revenue climbed 32% year-over-year to $117.4 million, reflecting solid account and trading volume expansion. Trading-related revenue surged 52%, underlining continued demand for Webull’s advanced trading platform.
$BULL Webull Corporation reported earnings
Q1 FY2025 results ended on Mar 31, 2025– Revenue: $117.4M, +32% YoY
– Net income: $12.9M vs -$12.6M YoY
– Customer assets: $12.6B, +45% YoYAnthony Denier, Group President and U.S. CEO: “We are proud to have delivered a very strong… pic.twitter.com/xcVWCWLZ8u
— invesdea💰Investing Ideas (@theinvesdea) May 22, 2025
Profitability Turns Positive Amid Lower Expenses
Webull reversed a net loss from the prior year, reporting $12.9 million in net income, up from a $12.6 million loss. Income before income taxes reached $19.5 million, a $29.3 million year-over-year swing. Adjusted operating profit came in at $28.7 million, up from just $2.3 million a year earlier, with a 22 percentage point improvement in operating margin to 24.4%.
Operating efficiency played a role. Total operating expenses fell 2% to $96.8 million, while adjusted operating expenses rose just 2.4%, showing cost control even as the business scaled.
User Base and Customer Assets See Strong Growth
Webull’s platform continued to attract more investors. Registered users rose 17% to 24.1 million, and funded accounts increased by 10% to 4.7 million. Customer assets totaled $12.6 billion, growing 45% year-over-year due to strong net deposits, which surged 66%.
Trading metrics were robust as well. Equities notional volume climbed 15% to $128 billion, while options contract volume increased 8% to 121 million. Daily average revenue trades (DARTs) jumped 44% to 924,000.
New Initiatives Support Long-Term Strategy
Webull’s strategic initiatives also gained momentum in Q1. In February, it partnered with Kalshi to offer binary event contracts, initially featuring hourly S&P 500 and Nasdaq contracts. In March, the company launched Webull Premium, a subscription-based service that attracted 40,000 users and now manages $2.0 billion in customer assets.
In May, the firm enhanced its wealth platform by integrating BlackRock model portfolios into Webull Advisors, offering automated, diversified asset management to U.S. customers. Webull also announced a new partnership with Visa, allowing users to transfer funds seamlessly between brokerage accounts and external banks via Visa Direct.
Conclusion
Webull’s Q1 2025 results underscore its strong position in the online trading market, driven by revenue growth, product expansion, and improving profitability. Despite the solid performance, market sentiment remains cautious, as shown by the stock’s sharp decline. The company’s broadening product suite and new global initiatives suggest a focus on long-term value, even if short-term volatility persists.
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