Webull Corporation (NASDAQ: BULL) reported its strongest quarter to date for the three months ended June 30, 2026, with record revenue of $198.8 million, up 51% year-over-year and 24% sequentially. GAAP net income attributable to the company was $24.4 million, versus a loss in the prior-year quarter, while adjusted net income rose to $43.2 million.
Non-GAAP adjusted operating profit reached $62.6 million with a 31.5% adjusted operating margin, reflecting operating leverage as adjusted operating expenses grew 26% to $136.2 million, slower than revenue. Trading-related revenues benefited from the June elimination of the Pattern Day Trader Rule, contributing to record activity.
Customer assets increased to $28.5 billion, up 79% year-over-year, driven primarily by net deposits. Equity notional trading volume reached $279 billion and options contracts volume 213 million, up 73% and 68% respectively, while DARTs climbed to 1.635 million. Webull continued investing in AI tools, international expansion to 18 markets, and scaling its institutional business.
Webull Corp director Walter A. Bishop reported equity compensation activity. He exercised derivative securities into 12,500 Class A Ordinary Shares, leaving him with 12,500 shares held directly. He also received a grant of 29,584 Restricted Share Units, each representing a contingent right to one Class A Ordinary Share.
All 29,584 RSUs were granted on June 9, 2026 and are scheduled to vest on June 8, 2027, subject to his continued service. Settlement of these RSUs has been deferred to the 30th day following his separation from service with Webull, meaning the actual shares will be delivered only after he leaves the company.
Webull Corp director and president Anthony Michael Denier sold Class A Ordinary Shares in an open-market transaction. He sold 75,000 shares at a weighted average price of $6.2244 per share, with individual sale prices ranging from $6.2050 to $6.2500.
After this sale, he directly holds 2,386,143 Class A Ordinary Shares. The transaction was reported as a routine open-market sale of non-derivative equity, with no remaining derivative positions disclosed in this filing.
Webull Corporation reported strong top-line growth but lower profitability for the first quarter of 2026. Total revenues rose to $159.9 million from $117.4 million a year earlier, driven by record equities and options trading volumes and higher interest-related income.
The company posted a GAAP net loss attributable to the company of $21.7 million, compared with net income of $13.1 million in the prior-year quarter, as operating expenses increased. Non-GAAP adjusted operating profit was $14.8 million and adjusted net income was $9.2 million, both below last year.
Platform scale continued to expand, with customer assets reaching $24.6 billion, up about 90% year-over-year, equity notional trading volume up 104%, and options contracts volume up 31%. Registered users grew to 27.6 million and funded accounts to 5.11 million, while DARTs climbed to 1.312 million.
Webull Corp: Wang Anquan reports beneficial ownership of 96,796,752 Class A ordinary shares, representing 18.2% of the Class A shares referenced in the filing. The reported total includes direct holdings, shares held by related entities, 83,859,005 Class A shares issuable upon conversion of Class B shares, 754,616 Class A shares issuable upon settlement of RSUs, and 9,691,467 shares over which voting control is held via a proxy agreement.
Webull Corporation registers for resale up to 147,445,012 Webull Class A Ordinary Shares, up to 6,792,000 Webull Private Warrants, and up to 20,000,000 Webull Incentive Warrants pursuant to registration rights granted in connection with its Business Combination.
The prospectus covers resale by selling securityholders and issuance of up to 17,271,990 Class A shares underlying Webull Warrants exercisable at $11.50, and up to 20,913,089 Class A shares underlying Incentive Warrants. The filing states proceeds received to date from warrant exercises of approximately $213.8 million in aggregate and discloses that Webull will not receive proceeds from secondary sales by the selling securityholders.
Webull Corporation has authorized a share repurchase program allowing it to buy back up to $100 million of its Class A ordinary shares over the next 12 months. Repurchases may occur through open market purchases, block trades or privately negotiated deals, funded by existing cash and future cash flow.
The timing and total amount of buybacks will be determined by Webull’s capital position, liquidity, financial performance, share price, regulatory requirements and market conditions. The company is not required to repurchase a set number of shares and may modify, suspend or discontinue the program at any time.