Webull Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Webull (NASDAQ:BULL) reported Q1 2026 revenue of $159.9 million, up 36% year-over-year, with its sixth consecutive quarter of adjusted profitability but a GAAP net loss of $21.7 million.
Customer assets rose 90% to $24 billion, driven by 91% net deposit growth, record trading volumes, European expansion, FINRA clearing approval, and new AI-powered research and trading tools.
AI-generated analysis. Not financial advice.
Positive
- Total revenue rose 36% year-over-year to $159.9 million
- Customer assets reached $24 billion, up 90% year-over-year
- Net deposits grew 91% year-over-year despite market headwinds
- Equity notional volume increased 104% year-over-year to $261 billion
- Sixth consecutive quarter of adjusted operating profitability
- FINRA approval for self and correspondent clearing, enabling potential cost savings
Negative
- Total operating expenses increased 68% year-over-year
- Loss before income taxes was $12.8 million versus prior-year income of $19.5 million
- Net result shifted to $21.7 million loss from $13.1 million net income
- Adjusted operating profit fell to $14.8 million from $28.7 million
- Adjusted net income declined to $9.2 million from $21.3 million
Market Reaction – BULL
Following this news, BULL has gained 1.51%, reflecting a mild positive market reaction. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $6.71. This price movement has added approximately $52M to the company's valuation. Trading volume is elevated at 3.0x the average, suggesting notable buying interest.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Market Reality Check
Peers on Argus
Pre‑earnings action appears stock‑specific. Only one peer from scanners, FROG, showed upside momentum (+1.93%), and sector peers show mixed single‑stock moves without a clear Technology or Application Software trend.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 04 | FY 2025 earnings | Positive | -5.6% | Reported strong 2025 growth, AI expansion, adjusted operating profit and pre‑tax income. |
| Nov 20 | Q3 2025 earnings | Positive | +0.5% | Strong Q3 revenue growth, record customer assets, solid profitability and expansion. |
| Aug 28 | Q2 2025 earnings | Positive | -7.4% | Robust Q2 growth and volumes but GAAP net loss tied to equity and combo costs. |
| May 22 | Q1 2025 earnings | Positive | -8.9% | Strong Q1 growth, swing to profitability and multiple new products and partnerships. |
Earnings releases have typically been strong fundamentally but followed by negative price reactions, with an average move of -5.34% over the past four earnings events.
Across the last four earnings releases (May 2025–Mar 2026), Webull reported rapid growth in revenues, customer assets, and trading activity, plus recurring adjusted profitability. Metrics included full‑year 2025 revenue of $571M, strong Q3 2025 revenue of $156.9M, and consistent expansion in funded accounts and user base. Despite this, three of the four earnings events saw negative next‑day price moves, suggesting the market often faded strong prints, which frames how today’s Q1 2026 results may be assessed.
Historical Comparison
In the past four earnings reports, Webull posted strong growth but an average next‑day move of -5.34%, showing a pattern of the market often fading upbeat results.
Same‑tag history shows Webull scaling from Q1 2025 through FY 2025: revenues rising from $117.4M in Q1 2025 to $571M for 2025, customer assets climbing to $24.6B, and adjusted operating profit turning positive and expanding, while GAAP results remained pressured by equity and combination‑related items.
Market Pulse Summary
This announcement highlights strong Q1 2026 growth with revenues of $159.9 million, a 36% year‑over‑year increase, and customer assets reaching $24 billion, up 90%. At the same time, operating expenses climbed sharply and results shifted to a $21.7 million net loss, while adjusted profitability declined. Compared with prior earnings, Webull continues to scale users and trading volumes, but investors may watch cost trends, adjusted margins, and regulatory developments around trading rules and AI‑driven tools.
Key Terms
finra regulatory
model context protocol technical
agentic ai technical
AI-generated analysis. Not financial advice.
Webull reports another strong quarter of growth, marked by record trading volumes and strong net deposits despite challenging market environment. Webull will continue to invest behind strategic priorities, including enhanced offerings for its active traders user base, international expansion to export the
"I'm proud to report a strong start to our second year as a public company and meaningful progress in enhancing, expanding and extending our leading-platform for self-directed active traders," said Anthony Denier, Group President and
"Webull continued to deliver in the first quarter of 2026, recording strong revenue growth and our sixth consecutive quarter of profitability on an adjusted basis," said H.C. Wang, Chief Financial Officer of Webull. "We will continue to invest behind key growth drivers to further power our platform while prioritizing diligent execution and capital allocation priorities, including returning capital to shareholders through our previously announced share repurchase program."
First Quarter Results
Financial Results
- Total revenues increased
36% year-over-year to$159.9 million - Trading-related revenue increased
36% year-over-year. - Total operating expenses increased
68% year-over-year, primarily driven by higher marketing and branding expenses, brokerage and transaction costs reflecting rapid growth in trading volumes and product expansion, and increased share-based compensation expense. - Adjusted operating expenses increased
64% year-over-year to$145.1 million - Loss before income taxes totaled
$12.8 million $19.5 million $32.3 million - Adjusted operating profit totaled
$14.8 million $28.7 million - Adjusted operating profit per share – basic and diluted was
$0.03 $0.21 $0.06 - Net loss attributable to the Company was
$21.7 million $13.1 million - Adjusted net income decreased to
$9.2 million $21.3 million - Net Loss per ordinary share – basic and diluted was
$0.04 $0.06
[1] The first quarter year-over-year decrease in basic and diluted net loss per ordinary share and adjusted operating profit per share was primarily driven by the conversion of our preferred stock into ordinary shares upon the closing of our business combination transaction with SK Growth Opportunities Corporation in April 2025, which had the effect of increasing our weighted-average shares outstanding. |
Operating Results
- Customer assets totaled
$24 billion 90% year-over-year growth, driven by strong net deposits which grew91% year-over-year despite a challenging market environment.
Registered users increased15% year-over-year to 27.6 million users. - Funded accounts increased to 5.1 million, representing
8% year-over-year growth. - Equity notional volume grew to
$261 billion 104% year-over-year increase and an increase of9% from the previous quarter. - Options contracts volume grew to 159 million, a
31% year-over-year increase and an increase of3% from the previous quarter. - DARTs increased to 1.3 million, representing
42% year-over-year growth.
Company Highlights
- Developed Pattern Day Trader ("PDT") infrastructure to be well-positioned for the increase in active trading expected from FINRA's PDT rule change taking effect on June 4, 2026.
- In April, FINRA approved Webull Securities US for self and correspondent clearing, marking a pivotal step toward long-term cost savings and operational scale. This approval lays the groundwork for further growth by offering clearing services to institutional partners.
- Received permission to operate in all of the countries in the European Economic Area and launched the Webull App in
Germany . - Successfully developed and deployed Model Context Protocol (MCP) infrastructure functionality within Webull's trading platform, establishing a secure, scalable foundation for integrating third-party agentic AI platforms.
- Began initial rollout of AI-enabled research analyst tool, bring comprehensive research reports to platform users.
Conference Call Information
Webull will host a conference call to discuss its results at 5:00 p.m. E.T. today, May 21, 2026. The conference call can be accessed at https://event.choruscall.com/mediaframe/webcast.html?webcastid=GOLJRG6O or participants may dial 1-844-744-1431 (
Following the call, a replay and transcript will be available on the Company's website at www.webullcorp.com/investor-relations, as well as the earnings press release and accompanying slide presentation.
About Webull Corporation
Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 15 markets across
Contacts
For Investors
ir@webullcorp.com
For Media
5W Public Relations
Nicholas Koulermos
Webull@5wpr.com
(212) 999-5585
Use of Non-GAAP Financial Measures
We use adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses, all of which are non-GAAP financial measures, to evaluate our operating results and for financial and operational decision-making purposes. Adjusted operating profit represents income from continuing operations, before income taxes, excluding share-based compensation expenses, one-time transactions, and other expense (income), net. Adjusted operating profit per share represents adjusted operating profit divided by our weighted average shares outstanding on a basic and diluted basis. Adjusted net income represents net income attributable to the Company, excluding share-based compensation expenses, foreign currency transaction gains and losses, and one-time transactions. Adjusted operating expenses represent total operating expenses, excluding share-based compensation expenses and one-time transactions.
We believe that adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income before income taxes, net income, and total operating expenses. We believe that adjusted operating profit, adjusted net income, and adjusted operating expenses provide useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.
Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses should not be considered in isolation or construed as an alternative to income before income taxes, earnings per share, net income attributable to the Company, and total operating expenses or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to compare the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Quarterly Reconciliations of Non-GAAP and GAAP Financial Measures" set forth at the end of this press release.
Definitions
"Customer assets" refer to the sum of the fair value of all equities, ETFs, options, warrants, futures, digital assets and cash held by customers in their Webull brokerage accounts, net of customer margin balances, as of the record date. While customer assets are significantly impacted by mark-to-market valuations of customers' investments and digital holdings, we consider customer assets an important metric as growth in customer assets generally leads to an increase in trading volumes and revenue.
"DARTs" refer to daily average revenue trades, which is the number of customer trades executed during a given period divided by the number of trading days in that period. DARTs provide us information on how active our customers trade. A limitation of this metric is that it does not capture the size of the trade and revenue per trade varies significantly depending on size and type of trades.
"Equity notional volume" refers to the aggregate dollar value (purchase price or sale price as applicable) of trades executed over a specified period of time. Equity notional volume directly drives our equities trading revenue, as we earn payment for order flow or commissions for customers' equities trades based on a percentage of notional value. However, equity notional volume is highly sensitive to market conditions in the short-term which makes predicting our equity trading revenue with precision difficult.
"Funded accounts" refer to Webull brokerage accounts into which the customer has made an initial deposit or money transfer, of any amount, whose account balance (which is measured as the fair value of assets in the customer's account less the amount due from the customer) has not dropped to or below zero for 45 consecutive calendar days as of the record date. Funded accounts reflect unique customers, and multiple funded accounts by a single customer are counted as one funded account. Growth in our funded accounts provides insight as to the effectiveness of our marketing efforts and our ability to acquire monetizable customers. Funded accounts are positively correlated with, but are not determinative, of customer assets, trading volumes, and revenue.
"Options contracts volume" refers to the total number of options contracts bought or sold over a specified period of time. Options contracts volume directly drives our options trading revenue, as we earn payment for order flow or commissions for customers' options trades on a per contract basis. However, options contracts volume is highly sensitive to market conditions in the short-term, which makes predicting our options trading revenue with precision difficult.
"Registered users" refer to those users who have registered on our platform but not necessarily have opened a brokerage account with one of our licensed broker-dealers. Growth in our registered users provides insight as to the popularity of the Webull App. While we do not generate revenue from registered users who do not have brokerage accounts with us, registering an account on the Webull App is the first step toward opening and funding a brokerage account with us.
Webull Corporation | ||||||||
Condensed Consolidated Statements of Financial Position | ||||||||
March 31, 2026 | December 31, 2025 | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Cash and cash equivalents | $ | 677,154,737 | $ | 653,188,906 | ||||
Cash and cash equivalents segregated under federal and foreign requirements | 1,276,042,349 | 1,537,119,275 | ||||||
Receivables from brokers, dealers, and clearing organizations | 499,661,318 | 562,961,145 | ||||||
Receivables from customers, net | 843,830,424 | 708,785,550 | ||||||
Prepaid expenses and other current assets | 53,774,736 | 50,208,272 | ||||||
Customer-held fractional shares | 174,696,145 | 172,309,953 | ||||||
Total current assets | 3,525,159,709 | 3,684,573,101 | ||||||
Right-of-use assets | 63,793,434 | 64,357,655 | ||||||
Property and equipment, net | 37,032,857 | 35,894,855 | ||||||
Intangible assets, net | 54,912,666 | 55,434,567 | ||||||
Goodwill | 30,264,138 | 30,264,138 | ||||||
Deferred tax assets | 1,319,263 | 9,346,987 | ||||||
Other non-current assets | 1,000,000 | 1,000,000 | ||||||
Total non-current assets | 188,322,358 | 196,298,202 | ||||||
Total assets | $ | 3,713,482,067 | $ | 3,880,871,303 | ||||
Liabilities and shareholders' equity | ||||||||
Payables due to customers | $ | 2,504,723,555 | $ | 2,667,837,626 | ||||
Payables due to brokers, dealers, and clearing organizations | 3,611,459 | 3,481,115 | ||||||
Lease liabilities - current portion | 3,319,483 | 3,611,195 | ||||||
Accounts payable and other accrued expenses | 97,114,181 | 102,183,377 | ||||||
Total current liabilities | 2,608,768,678 | 2,777,113,313 | ||||||
Lease liabilities - non-current portion | 8,189,194 | 8,911,821 | ||||||
Unsecured promissory notes | 65,000,000 | 65,000,000 | ||||||
Deferred tax liabilities | 13,301,770 | 13,366,222 | ||||||
Total non-current liabilities | 86,490,964 | 87,278,043 | ||||||
Total liabilities | 2,695,259,642 | 2,864,391,356 | ||||||
Commitments and Contingencies | – | – | ||||||
Shareholders' equity | ||||||||
Class A ordinary shares ( | 4,468 | 4,396 | ||||||
Class B ordinary shares ( | 839 | 839 | ||||||
Treasury shares (914,485 and 1,124,485 shares as of March 31, 2026 and December 31, | – | – | ||||||
Additional paid in capital | 3,210,754,470 | 3,192,952,827 | ||||||
Accumulated deficit | (2,199,912,575) | (2,178,189,845) | ||||||
Accumulated other comprehensive income | 7,207,133 | 1,524,496 | ||||||
Total shareholders' equity | 1,018,054,335 | 1,016,292,713 | ||||||
Noncontrolling interest | 168,090 | 187,234 | ||||||
Total equity | 1,018,222,425 | 1,016,479,947 | ||||||
Total liabilities and total equity | $ | 3,713,482,067 | $ | 3,880,871,303 | ||||
Webull Corporation | ||||||||
Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income | ||||||||
For the Three Months Ended | ||||||||
2026 | 2025 | |||||||
Revenues | ||||||||
Equity and option order flow rebates | $ | 84,392,839 | $ | 64,111,182 | ||||
Interest related income | 40,050,378 | 31,140,064 | ||||||
Handling charge income | 26,412,742 | 17,547,010 | ||||||
Other revenues | 9,072,057 | 4,570,579 | ||||||
Total revenues | 159,928,016 | 117,368,835 | ||||||
Operating expenses | ||||||||
Brokerage and transaction | 38,393,140 | 23,245,456 | ||||||
Technology and development | 23,860,822 | 16,924,892 | ||||||
Marketing and branding | 49,411,166 | 22,991,038 | ||||||
General and administrative | 50,641,443 | 33,620,720 | ||||||
Total operating expenses | 162,306,571 | 96,782,106 | ||||||
Other expense (income), net | 10,432,161 | 1,089,417 | ||||||
(Loss) income before income taxes | (12,810,716) | 19,497,312 | ||||||
Provision for income taxes | 8,927,156 | 6,558,225 | ||||||
Net (loss) income | (21,737,872) | 12,939,087 | ||||||
Less net loss attributable to noncontrolling interest | (15,142) | (146,720) | ||||||
Net (loss) income attributable to the Company | (21,722,730) | 13,085,807 | ||||||
Preferred shares redemption value accretion | – | (21,702,737) | ||||||
Net loss attributable to ordinary shareholders | (21,722,730) | (8,616,930) | ||||||
Net loss per share attributable to ordinary shareholders | ||||||||
Basic | $ | (0.04) | $ | (0.06) | ||||
Diluted | $ | (0.04) | $ | (0.06) | ||||
Weighted-average shares outstanding | ||||||||
Basic | $ | 526,127,355 | 139,307,224 | |||||
Diluted | $ | 526,127,355 | 139,307,224 | |||||
Net (loss) income | $ | (21,737,872) | $ | 12,939,087 | ||||
Other comprehensive income, net of tax: | ||||||||
Change in cumulative foreign currency translation adjustment | 5,678,635 | 1,741,649 | ||||||
Other comprehensive income | 5,678,635 | 1,741,649 | ||||||
Comprehensive (loss) income | (16,059,237) | 14,680,736 | ||||||
Less comprehensive loss attributable to noncontrolling interest | (15,142) | (146,720) | ||||||
Less foreign currency translation adjustment attributable to noncontrolling interest | (4,002) | (28,127) | ||||||
Preferred shares redemption value accretion | – | (21,702,737) | ||||||
Comprehensive loss attributable to ordinary shareholders | $ | (16,040,093) | $ | (6,847,154) | ||||
Webull Corporation
Unaudited Quarterly Reconciliation of Non-GAAP and GAAP Financial Measures
Adjusted Operating Expenses Reconciliation | ||||||||||||
(Unaudited) | ||||||||||||
For the Three Months Ended December 31, | For the Three Months Ended March 31, | |||||||||||
(Unaudited) | ||||||||||||
2025 | 2025 | 2026 | ||||||||||
Total operating expenses (GAAP) | $ | 147,999,822 | $ | 96,782,106 | $ | 162,306,571 | ||||||
Less: Share-based compensation | 4,350,886 | 8,069,045 | 17,201,576 | |||||||||
Adjusted operating expenses (Non-GAAP) | $ | 143,648,936 | $ | 88,713,061 | $ | 145,104,995 | ||||||
Adjusted Operating Profit Reconciliation | ||||||||||||
(Unaudited) | ||||||||||||
For the Three Months Ended December 31, | For the Three Months Ended March 31, | |||||||||||
(Unaudited) | ||||||||||||
2025 | 2025 | 2026 | ||||||||||
Income (loss) from before income taxes | $ | 8,133,523 | $ | 19,497,312 | $ | (12,810,716) | ||||||
Add: Other expense (income), net | 9,065,477 | 1,089,417 | 10,432,161 | |||||||||
Add: Share-based compensation | 4,350,886 | 8,069,045 | 17,201,576 | |||||||||
Adjusted operating profit (Non-GAAP) | $ | 21,549,886 | $ | 28,655,774 | $ | 14,823,021 | ||||||
Adjusted operating profit per share (Non-GAAP) - basic | $ | 0.04 | $ | 0.21 | $ | 0.03 | ||||||
Adjusted operating profit per share (Non-GAAP) - diluted | $ | 0.04 | $ | 0.06 | $ | 0.03 | ||||||
Weighted-average shares outstanding - basic | 521,969,391 | 139,307,224 | 526,127,355 | |||||||||
Weighted-average shares outstanding - diluted | 535,685,132 | 458,155,514 | 536,653,076 | |||||||||
Adjusted Net Income Reconciliation | ||||||||||||
(Unaudited) | ||||||||||||
For the Three Months Ended December 31, | For the Three Months Ended March 31, | |||||||||||
(Unaudited) | ||||||||||||
2025 | 2025 | 2026 | ||||||||||
Net income (loss) attributable to the Company (GAAP) | $ | 3,041,326 | $ | 13,085,807 | $ | (21,722,730) | ||||||
Add: Share-based compensation | 4,350,886 | 8,069,045 | 17,201,576 | |||||||||
Add: Deferred tax effect from IRC 162(m) limitation | – | – | 8,038,222 | |||||||||
Add: Foreign currency transaction losses (gains) | 7,213,228 | 103,707 | 5,718,697 | |||||||||
Adjusted net income (Non-GAAP) | $ | 14,605,440 | $ | 21,258,559 | $ | 9,235,765 | ||||||
Contra Revenue Impact
Most of our platform users are not considered customers under ASC 606, Revenues from Contracts with Customers ("ASC 606"), and promotional payments made to these platform users are accounted for as a marketing and branding expense. Conversely, for our platform users who have been determined to be customers under ASC 606, we account for these promotional payments as a reduction in revenue (i.e., "contra revenue"). The following presents how contra revenue impacted our revenues.
Quarterly Impact:
For the Three Months Ended December 31, | For the Three Months Ended March 31, | |||||||||||
(Unaudited) | ||||||||||||
2025 | 2025 | 2026 | ||||||||||
Contra revenue impact on: | ||||||||||||
Option handling fees | $ | (6,193,427) | $ | (118,541) | $ | (3,992,973) | ||||||
Platform and trading fees | (2,726,550) | (2,706,115) | (8,685,529) | |||||||||
Other income | (688,946) | – | (966,876) | |||||||||
Total contra revenue | $ | (9,608,923) | $ | (2,824,656) | $ | (13,645,378) | ||||||
Statement Regarding Unaudited Financial and Operational Information
The unaudited financial and operational information included in this press release is subject to potential adjustments and is based on the information available to management at this time. Potential adjustments to operational and consolidated financial information may be identified from work performed during Webull's preparation of financial statements subsequently hereto or its year-end audit. Information may also be presented differently from the information included herein in the future. This could result in significant differences from the unaudited or other historical operational and financial information included herein.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company made in connection herewith, including, for instance, statements as to business strategy and plans, future results of operations and financial position, planned products and services, objectives of management for future operations or strategies of the Company, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggests," "plan," "believe," "predict," "potential," "seek," "future," "propose," "continue," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology.
All forward-looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the reliance of key functions of the Company's business on third-parties and the risk that the Company's platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company's global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require adverse changes to the Company's business practices; (4) the Company's estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the Company's expectations regarding demand for and market acceptance of its products and service; (5) the Company's reliance on trading related income, including payment for order flow ("PFOF"), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company's exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets and their respective trading volumes; (7) the Company's reliance on a limited number of market makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8) the effects of competition in the Company's industry and the Company's need to constantly innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further actions taken by various government bodies in
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SOURCE Webull Corporation