Webull (BULL) Income Statement

Webull reported revenue of $571.00M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 46.3% from $390.23M a year earlier. Net income was $24.77M, a net margin of 4.3%. Gross margin was 77.5% and operating margin 10.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $198.83M, up 53.3% from the same quarter a year earlier.

Webull Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Webull Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Revenue & Gross Profit
Revenue	571.00	390.23	389.60	388.33	0.00
Cost of Revenue	128.75	79.31	66.42	59.76	0.00
Gross Profit	442.25	310.92	323.18	328.57	0.00
Operating Expenses
Research & Development	79.18	63.84	52.16	46.77	0.00
Selling, General & Administrative	301.36	254.77	243.37	209.74	0.03
Operating Expenses	383.77	325.28	300.20	260.01	0.03
Operating Income	58.47	-14.35	22.98	68.55	-0.03
Other Income/Expense
Interest Income	154.26	0.00	0.00	1.41	0.00
Interest Expense	5.46	0.12	0.00	0.00	0.00
Other Income/Expense	-13.28	2.30	-2.80	-2.87	0.00
Income
Income Before Tax	45.20	-12.05	20.18	65.69	-0.03
Income Tax Expense	20.83	13.82	16.14	32.21	-
Net Income	24.77	-22.69	6.07	50.08	-0.03
Net Income - Continuous Operations	24.77	-22.69	6.07	50.08	-0.03
Net Income - Discontinued Operations	-	2.69	1.78	16.60	-
EBITDA	53.89	-5.26	24.85	69.19	0.37
EBIT	50.66	-11.93	22.98	68.55	-
Depreciation & Amortization	3.23	6.67	4.68	3.50	0.41
Earnings Per Share
Basic EPS	-	-1.00	-1.00	-	-
Diluted EPS	-	-1.00	-1.00	-	-
Basic Shares Outstanding	397.00	459.36	459.36	459.36	25.00
Diluted Shares Outstanding	397.00	459.36	459.36	459.36	25.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Webull Financial Statements

What was Webull's revenue in fiscal 2025?

Webull reported revenue of $571.00M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 46.3% from $390.23M a year earlier.

Is Webull profitable?

Yes. Webull earned net income of $24.77M in fiscal 2025, a net margin of 4.3%. In fiscal 2024 it lost $22.69M.

What is Webull's operating margin?

Webull's operating income was $58.47M on revenue of $571.00M in fiscal 2025, an operating margin of 10.2%, compared with -3.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition