BULL FY 2025 Earnings Report — Webull Corporation Class A Ordinary Shares Revenue & Financial Results | Market Cap Arena

Webull Corporation Class A Ordinary SharesBULL

FY 2025 Earnings

Reported March 10, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$571M	—	—	—	—
Op. Income	$58M	—	—	—	—
Gross Margin	77.5%	—	—	—	—
Net Margin	4.3%	—	—	—	—
EPS (Diluted)	$-1.23	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$571M
Cost of Revenue	$129M
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$384M
Operating Expenses	$384M
Cost & Expenses	$513M
OPERATING INCOME	$58M
Interest Income	$154M
Interest Expense	$0
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$45M
Income Tax Expense	$21M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	-$512M
BOTTOM LINE NET INCOME	$25M
D&A	$0
EBIT	$45M
EBITDA	$45M
EPS	-$1
EPS Diluted	-$1

Income Statement

Item	Amount
REVENUE	$571M
Cost of Revenue	$129M
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$384M
Operating Expenses	$384M
Cost & Expenses	$513M
OPERATING INCOME	$58M
Interest Income	$154M
Interest Expense	$0
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$45M
Income Tax Expense	$21M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	-$512M
BOTTOM LINE NET INCOME	$25M
D&A	$0
EBIT	$45M
EBITDA	$45M
EPS	-$1
EPS Diluted	-$1

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$0
Net Receivables	$1.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$100M
Goodwill	$0
Intangible Assets	$86M
Long-Term Investments	$0
Tax Assets	$9M
Other Non-Current Assets	$224M
TOTAL NON-CURRENT ASSETS	$419M
TOTAL ASSETS	$3.9B
Account Payables	$0
Short-Term Debt	$4M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$4M
Long-Term Debt	$65M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$13M
Other Non-Current Liabilities	$2.8B
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$2.9B
Common Stock	$5M
Additional Paid-In Capital	$3.2B
Retained Earnings	-$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	-$5M
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$187.2K
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$78M
Net Debt	-$2.1B