Webull Corporation Class A Ordinary Shares (BULL) — Financial statements
Income statement, balance sheet, and cash flow for Webull Corporation Class A Ordinary Shares — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 571↑46.3% | 390↑0.2% | 390↑0.3% | 388 | 0.00 | |
| Cost of Revenue | 129↑62.3% | 79↑19.4% | 66↑11.1% | 60 | 0.00 | |
| Gross Profit | 442↑42.2% | 311↓3.8% | 323↓1.6% | 329 | 0.00 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00↓100.0% | 64↑22.4% | 52↑11.5% | 47 | 0.00 | |
| General & Administrative Expenses | 176↑43.2% | 123↑27.8% | 96↑24.7% | 77 | 0.00 | |
| Selling & Marketing Expenses | 126↓4.8% | 132↓10.3% | 147↑11.0% | 133 | 0.00 | |
| SG&A Expenses | 301↑18.3% | 255↑4.7% | 243↑16.0% | 210↑619864.6% | 0.03 | |
| Other Expenses | 82↑1135.8% | 7↑42.6% | 5↑33.6% | 4 | 0.00 | |
| Operating Expenses | 384↑18.0% | 325↑8.4% | 300↑15.5% | 260↑768467.0% | 0.03 | |
| Total Costs & Expenses | 513↑26.7% | 405↑10.4% | 367↑14.6% | 320↑945121.9% | 0.03 | |
| Operating Results | ||||||
| Operating Income | 58↑507.4% | -14↓162.5% | 23↓66.5% | 69↑202739.3% | -0.03 | |
| Depreciation & Amortization | 3↓51.5% | 7↑42.6% | 5↑33.6% | 4 | 0.00 | |
| EBITDA | 54↑1124.9% | -5↓119.0% | 28↓61.6% | 72↑213086.5% | -0.03 | |
| EBIT | 51↑524.7% | -12↓151.9% | 23↓66.5% | 69↑202739.3% | -0.03 | |
| Interest & Other Income | ||||||
| Net Interest Income | 149↑121289.9% | -0.12 | 0.00↓100.0% | 1 | 0.00 | |
| Interest Income | 154 | 0.00 | 0.00↓100.0% | 1 | 0.00 | |
| Interest Expense | 5↑4348.6% | 0.12 | 0.00 | 0.00 | 0.00 | |
| Non-Operating Income | 8↑422.1% | -2 | 0.00 | 0.00 | 0.00 | |
| Other Income / Expenses | -13↓676.5% | 2↑182.2% | -3↑2.4% | -3 | 0.00 | |
| Income Before Tax | 45↑475.1% | -12↓159.7% | 20↓69.3% | 66↑194257.7% | -0.03 | |
| Income Tax Expense | 21↑50.7% | 14↓14.4% | 16↓49.9% | 32 | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 24↑194.2% | -26↓740.8% | 4↓87.9% | 33↑99044.7% | -0.03 | |
| Net Income from Discontinued Operations | 0.00↓100.0% | 3↑50.9% | 2↓89.3% | 17 | 0.00 | |
| Net Income | 25↑209.2% | -23↓473.9% | 6↓87.9% | 50↑148122.9% | -0.03 | |
| Bottom-Line Net Income | 25↑104.8% | -518↓55.0% | -334↓24973.6% | -1↓3837.6% | -0.03 | |
| EPS (Basic) | -1.23↓8.8% | -1.13↓54.8% | -0.73↓25072.4% | -0.00↓2800.0% | -0.00 | |
| EPS (Diluted) | -1.23↓8.8% | -1.13↓54.8% | -0.73↓25072.4% | -0.00↓2800.0% | -0.00 | |
| Weighted Average Shares | 397↓13.6% | 459↑0.0% | 459↑0.0% | 459↓8.1% | 500 | |
| Weighted Average Diluted Shares | 397↓13.6% | 459↑0.0% | 459↑0.0% | 459↓8.1% | 500 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.