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Webull reported second-quarter revenue of $198.8 million, beating estimates of $165.71 million. The stockbroking firm posted earnings of $0.04 per share, compared to a loss of $1.20 per share in the same quarter last year. Trading-related revenue increased 66% year-on-year to $147.7 million. Equity notional volume grew 73% to $279 billion, whilst options contracts volume surged 68% to 213 million contracts. The company's total user base reached 28.2 million users in the second quarter, up 13% year-on-year. Customer assets totalled $28.5 billion, up 79% year-on-year. Chief Financial Officer H.C. Wang called the second quarter "the best quarter in Webull's history". BULL stock soared 11% after-hours following the results.

Webull swings to $24 million profit as trading revenue jumps 66%. Wednesday, 19/08/2026 | 23:20 GMT-7 by Damian Chmiel * Revenue reached $198.8 million as options activity and equity order flow lifted the top line. * Marketing spending eased from the first quarter, but customer assets fell 4% in July. Webull swung to a second-quarter net profit of $24.4 million from a $28.3 million loss a year earlier. Revenue rose 51% to $198.8 million, according to unaudited results released yesterday (Wednesday). One quarter earlier, the online broker lost $21.7 million as operating expenses rose 68% year over year. Costs moved the other way this time. Revenue increased 24% from the first three months of 2026 while total operating expenses fell 6% sequentially. The reversal shows how quickly heavier options and equity activity can feed through Webull's income statement. It also leaves the company dependent on trading conditions: funded accounts grew only 8% year over year, far behind the 51% increase in revenue. Trading revenue drives the rebound. Trading-related revenue increased 66% to $147.7 million and supplied about three-quarters of total revenue. Options revenue rose to $88.4 million from $56.2 million, while equity revenue reached $33.5 million, up from $19.6 million. Webull recorded 213 million options contracts during the quarter, 68% more than a year earlier. Equity notional volume climbed 73% to $279 billion, and daily average revenue trades increased 62% to 1.64 million. "Q2 was the best quarter in Webull's history," Chief Financial Officer H.C. Wang said. The company reported adjusted operating profit of $62.6 million, up from $23.3 million, and adjusted net income of $43.2 million, compared with $15.4 million. | Metric | Q2 2026 | Q2 2025 | Change | | Total revenue | $198.8 million | $131.5 million | +51% | | Trading-related revenue | $147.7 million | $88.8 million | +66% | | Net income attributable to Webull | $24.4 million | -$28.3 million | Turned profitable | | Adjusted operating profit | $62.6 million | $23.3 million | +169% | | Customer assets | $28.5 billion | $15.9 billion | +79% | | Funded accounts | 5.13 million | 4.73 million | +8% | GAAP operating expenses rose 13% year over year to $153.4 million, a slower pace than revenue. Brokerage and transaction costs increased to $44.3 million from $34.8 million as activity grew. Marketing and branding spending was $35.0 million, up from $30.3 million a year earlier but down from $49.4 million in the first quarter. Earlier FinanceMagnates.com reporting on Webull's annual filing found that promotional spending had accelerated sharply in late 2025. The latest release separately disclosed $12.4 million of contra revenue, promotional payments recorded as reductions in revenue under accounting rules. That was more than double the $5.1 million recorded a year earlier. Retail brokers benefit from heavier activity. Other listed brokers also converted higher customer activity into revenue during the quarter. Robinhood's net revenue rose 32% to $1.31 billion, with options remaining its largest disclosed trading category and event contracts becoming its second largest. Interactive Brokers reported a 28% increase in net revenue to $1.90 billion as commissions, customer accounts and margin lending grew, and its $1.06 billion of net interest income alone exceeded Webull's total quarterly revenue by more than five times. Webull's mix is more concentrated in transaction activity. Interest-related income rose 18% to $42.8 million, equal to 22% of total revenue, while trading-related revenue accounted for 74%. Assets slip after the quarter ends. Customer assets reached $28.5 billion at the end of June, up 79% year over year, after Webull recorded $2.1 billion of net deposits during the quarter. Registered users increased 13% to 28.2 million, while funded accounts reached 5.13 million. Webull also said Vega AI added about 160,000 users during the quarter, taking active users to roughly 480,000. The company has expanded its Model Context Protocol tools for natural-language research and trade execution. Post-quarter data in the presentation showed customer assets falling to $27.3 billion in July from $28.5 billion in June. Registered users rose to 28.4 million, but funded accounts remained at about 5.1 million. About 810,000 funded accounts were outside the United States. Following launches in Spain, Argentina and Colombia, Webull operated trading services in 18 markets and reported more than $1.4 billion of institutional assets under management. Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia. His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates' quarterly industry benchmarking reports. Damian's reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch. Education: MA in Finance and Accounting, Cracow University of Economics * 3871 Articles * 116 Followers

Webull Q2 earnings call highlights. August 19, 2026 Key points. * Record Q2 performance: Webull's revenue rose 51% year over year to $198.8 million, while adjusted operating profit surged 169% to $62.6 million as expenses grew more slowly than revenue. * PDT rule boosts trading: The June elimination of the Pattern Day Trader rule helped drive a 62% increase in DARTs, a 73% rise in equity trading volume and a 68% increase in options volume. Webull said elevated activity continued into July and August. * Expansion beyond core brokerage: Customer assets climbed 79% to $28.5 billion, while Webull continued international expansion and development of AI, prediction-market and crypto offerings; prediction-markets revenue grew 71% sequentially to roughly $5 million-$6 million. * MarketBeat previews top five stocks to own in September. Webull NASDAQ: BULL reported record second-quarter results for 2026, with revenue rising 51% year over year to $198.8 million as higher trading activity and customer asset growth lifted both transaction- and interest-related income. Group President and U.S. CEO Anthony Denier said the elimination of the Pattern Day Trader, or PDT, rule on June 4 was the company's defining event during the quarter. He said Webull's technology allowed qualified customers to make unlimited day trades under its zero-commission model after the rule change took effect. "Executing on this rule change was our defining event for the quarter and contributed to a significant increase in trading volumes and record quarterly results," Denier said. Trading activity drives revenue growth. Webull reported trading-related revenue of $147.7 million, up 66% from a year earlier and 33% sequentially. Daily average revenue trades, or DARTs, increased 62% year over year to 1.64 million. Equity notional trading volume reached $279 billion, up 73% from the prior-year period, while options volume rose 68% to 213 million contracts. Options volume increased 34% sequentially. Denier said the activity helped Webull reach a top-five position among retail brokers in options trading for the first time. The company said the PDT rule's removal has changed customer behavior, with traders making a greater number of smaller trades rather than conserving a limited number of day trades. Denier said the higher number of trades within overall volume has supported payment-for-order-flow economics. Webull's July operating figures showed options activity remained steady after the June change, according to Denier, while August trading activity was tracking above July levels. He said the company does not expect trading volumes to return to levels seen before the PDT rule was eliminated. * Customer assets rose 79% year over year to $28.5 billion. * Net customer deposits totaled $1.6 billion, up more than 7% year over year. * Funded accounts reached 5.13 million, an 8% increase from a year earlier. * Registered users increased 13% to 28.2 million. * Quarterly retention was 97.3%. Profitability expands as expenses grow more slowly. Group CFO H.C. Wang said adjusted operating expenses increased 26% year over year to $136.2 million, a slower rate than revenue growth. Expenses declined 6% from the first quarter, primarily because marketing costs normalized. Discover more ETF Screener Tool Cryptocurrency Research Adjusted operating profit rose 169% year over year to $62.6 million, producing an adjusted operating margin of roughly 31%. Adjusted net income was $43.2 million, for a 21.7% net profit margin. Interest-related income increased 18% to $42.8 million, supported by higher assets under management, margin loan balances and client cash balances. Wang described interest income as a durable complement to the company's trading revenue. Marketing expenses in the first half continued to include amortization related to asset-match promotions launched during 2025, Wang said. The company reduced the scale of those promotions beginning in the first quarter, including lowering a 3.5% IRA asset-match offer to 1% and ending some promotions in certain markets. For the remainder of 2026, Wang said Webull expects marketing spending to remain broadly between first-quarter and second-quarter levels, absent major market changes. Denier said current priorities include U.S. brand building, attracting higher-quality accounts and supporting international growth. International and institutional expansion continue. Webull said it is licensed in 35 markets and has trading operations in 18 markets after launching in Spain, Argentina and Colombia during the second quarter. International funded accounts totaled about 810,000, while customer assets in Asia-Pacific exceeded $5 billion. The company recently announced an acquisition of Pi Securities in Thailand, expected to close at the end of August. Denier said the transaction is expected to expand Webull's Asia-Pacific assets under management and provide access to active trading accounts in Thailand. Wang said Webull views its Asian operations collectively, citing cross-market opportunities including institutional clients and high-net-worth customers who may seek offshore accounts. Institutional assets under management exceeded $1.4 billion, or about 5% of total assets under management, with most institutional clients located outside the United States. In the U.S., Webull received a clearing license from FINRA in April but said it is not currently clearing trades and does not expect to begin doing so for some time. The company has expanded its institutional offering to include futures and prediction markets, and announced a partnership with Monark Markets to provide accredited investors access to late-stage private companies through special purpose vehicles. AI, crypto and prediction markets. Webull continued to build AI-enabled products during the quarter. Its Vega AI intelligence system added about 160,000 users, bringing active Vega users to 480,000. Engagement among active traders rose about 23% sequentially, Denier said. The company also connected its MCP server with leading AI models, allowing users to use natural-language prompts for research, tool-building and trade execution through the Webull platform. Denier said the current focus is on portfolio construction, research and trade analysis, with additional execution-oriented AI features expected later in the year. Crypto revenue was about $2.25 million during the quarter, representing just over 1% of total revenue, according to Denier. He said Webull was in the process of gradually rolling out crypto deposit and withdrawal capabilities. Denier also said prediction-markets revenue was approximately $5 million to $6 million in the quarter and that the business grew 71% sequentially. About Webull (NASDAQ:BULL). Webull Financial LLC is a commission-free online brokerage platform that provides individual investors with access to U.S. equities, exchange-traded funds (ETFs), options, and cryptocurrencies. Through its mobile and desktop applications, the company offers real-time market data, advanced charting tools, customizable watchlists, and streamlined order execution. Webull's platform is designed to support both self-directed traders and investors seeking an intuitive interface coupled with professional-grade analytics. In addition to its core trading services, Webull delivers educational resources and research tools to help users make informed decisions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Webull, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Webull wasn't on the list. 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