Webull Q4 Revenue Rises 50% to $165 Million with 81% Asset Growth
Webull delivered Q4 revenue of $165.2 million, up 50% year-over-year, with trading revenue rising 56% to $112.5 million and adjusted operating profit of $21.6 million on a 13% margin. Full-year customer assets climbed 81% to $24.6 billion, driving $571 million in revenue (up 46%) and $110.3 million adjusted operating profit.
1. Q4 Financial Performance
Webull reported fourth-quarter revenue of $165.2 million, up 50% year-over-year, with trading revenue surging 56% to $112.5 million. Adjusted operating profit totaled $21.6 million on a 13% margin, and adjusted net income reached $14.6 million or 8.8% of revenue.
2. Full-Year 2025 Results
Full-year revenue climbed 46% to $571 million, while adjusted operating profit improved 14.6 percentage points to a 19.3% margin, yielding $110.3 million. Customer assets rose 81% to $24.6 billion, equity trading volume hit $732 billion (up 59%), and options volume reached 550 million contracts (up 19%).
3. Product Expansion and User Growth
Webull's AI assistant Vega now serves 1.2 million weekly users and answered over 10 million queries. Premium subscriptions surpassed 102,000 subscribers, crypto trading reintroduced via Webull Pay, prediction markets saw 152 million contracts traded, and registered users reached 26.8 million with funded accounts at 5.03 million.