Webull Corporation Class A Ordinary Shares
TechnologyNASDAQ:BULL · NASDAQ Global Select
-$0.19 today
Vol 12.35M · Avg 14.41M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$613.6M of revenue converted into -$10.0M of net income for the selected period. Gross margin is 76.4% and net margin is -2.4%, showing how much revenue survives after costs and taxes. EPS is $-1.16, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $571.0M +46.3% | $390.2M +0.2% | $389.6M +0.3% | $388.3M | $0 | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $128.7M +62.3% | $79.3M +19.4% | $66.4M +11.1% | $59.8M | $0 | $725.6M | $804.0M | $882.4M |
| Gross Profit | $442.2M +42.2% | $310.9M -3.8% | $323.2M -1.6% | $328.6M | $0 | $8.9B | $7.6B | $6.2B |
| Gross Margin | 77.5% -2.2pp | 79.7% -3.3pp | 83.0% -1.7pp | 84.6% | — | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 -100.0% | $63.8M +22.4% | $52.2M +11.5% | $46.8M | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $301.4M +18.3% | $254.8M +4.7% | $243.4M +16.0% | $209.7M +619864.6% | $33.8K | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $383.8M +18.0% | $325.3M +8.4% | $300.2M +15.5% | $260.0M +768467.0% | $33.8K | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $3.2M -51.5% | $6.7M +42.6% | $4.7M +33.6% | $3.5M | $0 | $374.2M | $1.2B | $631.8M |
| EBITDA | $53.9M +1124.9% | -$5.3M -121.2% | $24.9M -64.1% | $69.2M +204605.0% | -$33.8K | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 9.4% +10.8pp | -1.3% -7.7pp | 6.4% -11.4pp | 17.8% | — | 5.6% | 46.3% | 42.0% |
| Operating Income | $58.5M +507.4% | -$14.4M -162.5% | $23.0M -66.5% | $68.6M +202739.3% | -$33.8K | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 10.2% +13.9pp | -3.7% -9.6pp | 5.9% -11.8pp | 17.7% | — | 16.6% | 24.1% | 22.0% |
| Interest Income | $154.3M | $0 | $0 -100.0% | $1.4M | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $5.5M +4348.6% | $122.8K | $0 | $0 | $0 | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$13.3M -676.5% | $2.3M +182.2% | -$2.8M +2.4% | -$2.9M | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $45.2M +475.1% | -$12.1M -159.7% | $20.2M -69.3% | $65.7M +194257.7% | -$33.8K | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 7.9% +11.0pp | -3.1% -8.3pp | 5.2% -11.7pp | 16.9% | — | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $20.8M +50.7% | $13.8M -14.4% | $16.1M -49.9% | $32.2M | $0 | $1.3B | -$1.6B | $745.2M |
| Net Income | $24.8M +209.2% | -$22.7M -473.9% | $6.1M -87.9% | $50.1M +148122.9% | -$33.8K | $4.9B | $4.8B | $4.7B |
| Net Margin | 4.3% +10.2pp | -5.8% -7.4pp | 1.6% -11.3pp | 12.9% | — | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$1 -8.8% | -$1 -54.8% | -$1 -25072.4% | -$0 -2800.0% | -$0 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$1 -8.8% | -$1 -54.8% | -$1 -25072.4% | -$0 -2800.0% | -$0 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $397.0M -13.6% | $459.4M +0.0% | $459.4M +0.0% | $459.4M -8.1% | $500.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $397.0M -13.6% | $459.4M +0.0% | $459.4M +0.0% | $459.4M -8.1% | $500.0M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Clearwater Analytics Holdings, Inc.
NYSE:CWAN
$7.24B
Commvault Systems, Inc.
NASDAQ:CVLT
$5.27B
WEX Inc.
NYSE:WEX
$4.70B
ACI Worldwide, Inc.
NASDAQ:ACIW
$4.60B
CleanSpark, Inc.
NASDAQ:CLSK
$4.23B
Bitdeer Technologies Group
NASDAQ:BTDR
$4.16B
Bill.com Holdings, Inc.
NYSE:BILL
$3.30B
Workiva Inc.
NYSE:WK
$2.75B
OneStream, Inc. Class A Common Stock
OS
$2.40B
Diginex Limited
DGNX
$26.19M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does BULL generate?
Webull Corporation Class A Ordinary Shares (BULL) reported $571.00M of revenue in fiscal 2025.
Is BULL profitable?
Webull Corporation Class A Ordinary Shares (BULL) reported $24.77M of net income, with a net margin of 4.3%.
Explore More
Continue the stock analysis
Jump to another research area for this company.