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 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.
HOULIHAN WILLIAM A reported acquisition or exercise transactions in this Form 4 filing.
Webull Corp director William A. Houlihan received a grant of 42,471 Restricted Share Units (RSUs). These RSUs were granted on April 13, 2026 and each represents a contingent right to receive one Class A Ordinary Share if service conditions are met.
The RSUs are scheduled to vest on April 10, 2027, subject to Houlihan’s continued service with Webull through that date. Settlement of the vested RSUs has been deferred at Houlihan’s election to the earlier of the fifth anniversary of the grant date or 30 days after his separation from service.
Webull Corp director William A. Houlihan increased his direct equity stake through share-based compensation. On April 10, 2026, 12,500 restricted share units were exercised into 12,500 Class A Ordinary Shares at no cash exercise price, leaving no remaining units from that grant.
On the same date, he also received a separate award of 4,719 Class A Ordinary Shares, bringing his direct holdings to 17,219 Class A Ordinary Shares after these transactions. The filing reflects compensation-related equity awards rather than open-market buying or selling.
Webull Corporation has terminated its standby equity purchase agreement with YA II PN, Ltd. (Yorkville). The company sent a termination notice on April 1, 2026, which became effective on April 6, 2026. At termination, there were no outstanding advance notices, no shares to be issued, and no amounts owed by either party.
The agreement had allowed Webull to issue up to $1.0 billion in Class A ordinary shares, but Webull only issued and sold 11,500,000 shares to Yorkville, raising proceeds of $173.2 million. Webull has not issued any shares under this arrangement since September 2025. The report and press release also reiterate extensive forward-looking risk factors related to regulation, market conditions, technology, cybersecurity, cryptocurrencies, and potential dilution from future warrant exercises.
Webull Corp President Anthony Michael Denier filed an initial ownership report showing significant direct holdings in the company. He directly owns 2,461,143 Class A Ordinary Shares. The reported securities also include 300,000 restricted shares that will vest in full on January 1, 2028, subject to continued service.
Denier also holds restricted share units representing 41,991 and 335,930 underlying Class A Ordinary Shares, which vest on January 1, 2027 and in two equal parts on January 1, 2027 and January 1, 2028. In addition, he holds stock options over 196,009, 125,974, and 251,948 Class A Ordinary Shares at an exercise price of $0.1384 per share, with expirations on June 1, 2027, January 1, 2029, and January 1, 2030.
Webull Corp director Walter A. Bishop reported initial holdings of 12,500 restricted share units (RSUs) on Class A Ordinary Shares. These RSUs are held directly and each unit represents a contingent right to receive one share.
According to the disclosure, 100% of the 12,500 RSUs will vest on June 8, 2026, provided Bishop continues his service through that date. Until vesting, they remain unexercised derivative positions rather than current share ownership.