Webull Reports Strong Q3 Earnings with Significant Revenue Growth

NEW YORK, NY – Webull Corp reported its third-quarter financial results on Thursday after the market closed. The company revealed significant growth, surpassing revenue estimates.

Webull generated $156.94 million in revenue for the third quarter, exceeding estimates of $135.58 million. This marks a 55% increase compared to the same quarter last year, driven by heightened user engagement and robust trading volumes.

The company also reported adjusted earnings of seven cents per share, outperforming expectations of two cents. Additionally, total customer assets surged to $21.2 billion, an 84% increase from the previous year, supported by a market recovery and a 31% rise in net deposits.

Registered users climbed 17% year-over-year, reaching 25.9 million, while funded accounts increased by 9%, totaling 4.93 million. Anthony Denier, U.S. CEO of Webull, emphasized the company’s growth strategy: “We continue to execute and grow our platform as showcased by the launch of Vega, our new AI tool that brings personalized market analysis and investing insights.”

Denier also highlighted new offerings, including corporate bonds and access to event-based prediction markets, alongside the re-introduction of crypto trading. The equity notional volume jumped 71% year-over-year to $204 billion, and volume of options contracts rose 24% to 147 million.

As of the end of the quarter, Webull had approximately $654.8 million in cash and cash equivalents. The company’s executives plan to discuss these results further in a call with investors and analysts at 5 p.m. ET.

Following the announcement, Webull’s stock saw a slight increase of 0.73% in after-hours trading, reaching $8.31 at the time of publication.