Overview
- Full-year revenue rose 46% to $571 million, with trading-related revenue up 59% year over year.
- Net deposits totaled $8.6 billion for 2025 as customer assets climbed to a record $24.6 billion by year-end.
- GAAP net income for the year was $24.8 million and adjusted net income was $84.2 million, while Q4 net income fell to $3 million as marketing spend jumped 128%.
- Platform scale continued to expand with 5.0 million funded accounts, 26.8 million registered users, 1.2 million DARTs in Q4, and sharp gains in equity and options volumes.
- Webull broadened its footprint with EU brokerage in the Netherlands, a U.S. crypto relaunch and Australia crypto via Coinbase Prime, a South Korea partnership with Meritz, and the debut of its Vega AI tool; the company said the reported figures are unaudited.