BULLWebull CorporationQ2 2026Aug 19, 2026, 4:15 PM EDT
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Earnings Report· 2026-08-19

BULL

Q2 · 2026After-Market
Webull Corporation
EARNING PER SHARE
Actual ($)
0.04
103.33% YoY
Expected
0.02
Beat
+100.00%
REVENUE
Actual ($)
198.83M
51.00% YoY
Expected
180.73M
Beat
+10.02%

Earning Report

MetricQ2 2026Q2 2025YoY Change %
Revenue$198.80M$131.50M+51%
└─Equity and option order flow rebates$113.00M$68.70M+64.5%
└─Interest related income$42.80M$36.30M+17.8%
└─Handling charge income$34.80M$20.10M+73.0%
└─Other revenues$8.30M$6.40M+30.0%
Net Income$24.40M($28.30M)-
GAAP EPS - Basic$0.05($1.20)-
GAAP EPS - Diluted$0.04($1.20)-
Adj. EPS - Basic$0.12$0.05+140.0%
Adj. EPS - Diluted$0.12$0.05+140.0%

Business Highlights

  • Revenue $198.8M, up 51% YoY and 24% sequentially
  • Trading-related revenue $147.7M, up 66% YoY
  • Net income $24.4M, versus $28.3M net loss
  • Repurchased and cancelled 1.82M Class A shares at $6.03 average
  • Implemented updated active trader functionality after Pattern Day Trader Rule elimination
  • Vega AI added ~160,000 users, reaching ~480,000 active users
  • Launched Webull in Spain, Argentina, and Colombia
  • Announced acquisition of Pi Securities in Thailand

Management Commentary

Anthony Denier, Group President and U.S. CEO

I'm proud to report a record second quarter for Webull, highlighted by our successful implementation of updated active trader functionality following the June 4 elimination of the Pattern Day Trader Rule. Webull's advanced technology platform enabled eligible customers to fully leverage the new trading environment from day one, contributing to record trading volumes and strong customer engagement. We also made significant progress in executing on our 2026 roadmap, including expanding our AI capabilities with the launch of Vega Analyst, extending our global footprint, and scaling our institutional business. We believe these investments are strengthening Webull's position as a leading platform for active traders seeking access to investment opportunities across global markets and asset classes.

H.C. Wang, Chief Financial Officer of Webull

Q2 was the best quarter in Webull's history, with record revenue of $198.8 million, up 51% year-over-year and 24% sequentially. Adjusted operating profit reached $62.6 million, representing a 31.5% operating margin, while adjusted net income was $43.2 million. These results demonstrate the operating leverage inherent in our platform and the potential for further margin expansion.