Webull Corporation has reported an outstanding performance for the second quarter of 2025, achieving its highest-ever quarterly revenues. The financial technology firm showcased robust growth across various metrics, driven by a surge in customer assets and intensified trading activity. A significant contributing factor to this success was the strategic reintroduction of cryptocurrency trading, alongside an aggressive global expansion strategy that saw Webull extending its footprint into new international markets.
During the second quarter, Webull navigated a dynamic market landscape characterized by considerable volatility. Initially, a sharp downturn followed a tariff announcement, causing the S&P 500 to dip by over 12% in early April. However, a rapid recovery ensued, fueled by strong corporate earnings, favorable inflation data, and speculative interest in technology and AI sectors. This resurgence propelled the S&P 500 to an all-time high by the quarter's end, creating a highly conducive environment for retail self-directed trading—a scenario not witnessed since February 2020. This period of heightened market activity directly contributed to Webull’s impressive trading volumes and overall revenue growth.
Webull's leadership emphasized that the market is currently undergoing a profound technological transformation, akin to the shifts seen in the late 1990s with the move from physical to online trading, and later the transition from desktop to mobile platforms. The current era, according to Webull, is defined by an increasingly supportive regulatory environment that fosters FinTech innovations and democratizes access to a wider array of financial products. This includes new asset classes such as cryptocurrencies, prediction markets, and tokenized real-world assets, all becoming accessible through integrated platforms. Webull sees itself as uniquely positioned to meet the demands of this new generation of retail investors who seek greater control over their financial futures, offering not just trading capabilities but also comprehensive market data, insights, and a community-driven experience.
Financially, the company reported a remarkable 46% year-over-year increase in total revenues, reaching $131.5 million. This growth was primarily attributed to a significant rise in customer assets, which hit an unprecedented $15.9 billion, marking a 64% year-over-year surge. The successful completion of a De-SPAC transaction during the quarter, which raised over $200 million, along with a standby equity purchase agreement for up to $1 billion over three years, has substantially bolstered Webull’s capital reserves. This strong capital position is crucial for funding ongoing innovation and competitive global expansion. Notably, Webull achieved its third consecutive quarter of operating profitability, with an adjusted operating profit of $23.3 million, reflecting an 18 percentage point improvement in operating margin compared to the previous year.
Product innovation and expansion have been central to Webull’s strategy. The Webull Premium subscription service, launched in March, quickly amassed 75,000 subscribers, exceeding internal targets. This service has driven increased average daily trading volumes across all product categories. Furthermore, Webull expanded its partnership with Kalshi to offer crypto hourly contract trading and Fed events trading in prediction markets. The highly anticipated reintroduction of crypto trading in the U.S., Brazil, and Australia underscores Webull's commitment to meeting evolving customer demand amidst a clearer global regulatory landscape. The company plans further digital asset license explorations in additional markets, aiming to provide a seamless investing experience that integrates traditional and alternative asset classes.
Looking ahead, Webull anticipates continued growth, with Assets Under Management (AUM) already surpassing $18 billion in the current quarter, and July marking the firm's highest revenue month to date. The company remains focused on strategic deployment of capital to enhance its product offerings and expand its global presence, particularly in Latin American and European markets where new app rollouts are underway. Webull’s sustained momentum is a testament to its adaptive strategy, technological prowess, and dedication to delivering value to its growing base of sophisticated retail investors worldwide.