Webull hits record $15.9B in client assets for Q2 2025
Webull, a U.S.-based financial services holding company, has published its second-quarter 2025 results, showing solid growth in trading activity, client assets, and platform expansion. The June quarter report marked its first since listing on Nasdaq following its merger with the SPAC company SK Growth Opportunities Corp and highlighted its strengthening position in retail brokerage.
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In a press release, Group President and U.S. CEO of Webull Anthony Denier said: “In our first quarter as a public company, we achieved strong business results, maintaining three consecutive quarters of operating profitability and record-high client assets, supported by substantial growth in trading volumes and net deposits.” He also emphasized the role of the reintroduction of crypto services and accelerated international expansion as key pillars of Webull’s strategy.
Financial results
Chief Financial Officer H.C. Wang stressed disciplined growth, noting that revenue growth outpaced expenses, which enabled another quarter of positive operating performance. “We are the prime beneficiary of growing demand among self-directed traders for a sophisticated all-in-one trading platform like Webull. This gives us confidence to continue investing in growth and expanding access to more products for more investors across global markets,” he said.
• Revenue rose 46% year-over-year to $131.5 million, driven by a 63% increase in trading-related income.
• Operating expenses grew 37% due to higher share-based compensation, while adjusted expenses rose just 20% to $108.2 million.
• Adjusted operating profit reached $23.3 million, reversing losses from the prior year.
• Client assets hit a record $15.9 billion, up 64% year-over-year.
• Funded accounts grew 9% to 4.73 million, while registered users increased 18% to 24.9 million.
• Despite a net loss of $28.3 million, adjusted net income reached $15.4 million, compared to a loss a year earlier.
Strategic developments
In May, Webull launched its Latin America app, integrating platforms in Brazil and Mexico. In June, the company resumed crypto trading in Brazil and expanded its partnership with Kalshi, adding new contracts and prediction markets. The firm also raised more than $200 million through warrant redemptions and secured access to $1 billion via an equity purchase agreement.
With record client engagement, new product rollouts, and continued global expansion, Webull is cementing its position as a growing force in retail brokerage.
Earlier, Webull also launched crypto trading in Australia with Coinbase support.
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