New York, March 5, 2026, 05:54 EST
- Webull posted a 50% jump in fourth-quarter revenue, hitting $165.2 million. For the full year, revenue increased 46% to $571 million.
- Net deposits hit a record $8.6 billion for the broker, pushing customer assets up to $24.6 billion.
- A prospectus supplement registered as many as 75.2 million Class A shares for resale. The stock added roughly 2% in early trading.
Webull Corp saw quarterly revenue surge, and the online brokerage has filed to allow the resale of as many as 75.2 million Class A shares. The company pointed to increased trading activity and a bigger pool of client cash. Shares traded up roughly 2%, sitting at $6.07 early this Thursday.
This update is significant: Webull is working through its initial phase after going public as a retail brokerage, and the market hasn’t hesitated to hit platforms hard when user engagement drops. Net deposits—what remains after customer withdrawals—serve as a key gauge of user loyalty.
The space is packed. Webull, Robinhood, and Interactive Brokers are each vying for the same crowd of active traders—offering platforms that are low-cost, quick, and simple to hop between.
Webull posted a 56% jump in trading revenue for the fourth quarter, with operating expenses not far behind, up 55%—a rise fueled by higher brokerage and transaction costs plus stepped-up marketing. “We reported another quarter of strong financial performance, particularly in our equities and options businesses,” CFO H.C. Wang said. SEC
Wang told analysts the company delivered $21.6 million in adjusted operating profit for the quarter, using a non-GAAP metric that strips out certain costs. Adjusted operating expenses climbed to $143.6 million. “Customers continue to trade consistently across four asset classes,” Anthony Denier noted. Investing.com Nigeria
Webull wrapped up 2025 with roughly 102,000 premium subscribers, according to an investor presentation. The company’s 2026 agenda: beef up tools for active traders, push further into overseas markets, and develop its business-to-business platform. SEC
The prospectus supplement details 159,236 “commitment shares” along with as many as 75 million more linked to a standby equity purchase agreement—a structure allowing a company to sell shares to an investor in stages. Timing and pace for any share sales weren’t specified in the filing.
Still, there’s a catch: Webull’s filing points right to its dependence on “payment for order flow”—the payments it gets from market makers to direct trades their way—and makes it clear that any regulatory shake-up or outright ban could put a dent in trading revenue. The company also flagged exposure to shifts in interest rates and swings in market volatility. Another point: if Webull sells or issues new shares, that could put downward pressure on its stock. SEC
Webull went public via a business combination with SK Growth Opportunities Corporation, closing the deal in April 2025, the company said. The transaction triggered changes that impacted year-over-year per-share comparisons, according to Webull.
