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Equiscale · Syntellia LLC
Webull Corporation operates as a digital investment platform. Its platform enables retail investors to trade securities through its licensed broker dealer in the United States, Canada, the United Kingdom, Australia, Hong Kong, Indonesia, Singapore, Malaysia, Thailand, Japan, South Africa, the Netherlands, and internationally. Webull Corporation was founded in 2016 and is headquartered in Saint Petersburg, Florida.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $571M | $54M | $25M | $562M | 2.4% | 46.3% | -209.2% |
| 2024 | $390M | $-8M | $-23M | $183M | 1.0% | 0.2% | -473.9% |
| 2023 | $390M | $28M | $6M | $466M | -0.3% | 0.3% | -87.9% |
| 2022 | $388M | $72M | $50M | $-63M | -3.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 388.33 | 389.60 | 390.23 | 571 |
| Operating Revenue | 379.36 | 378.70 | 376.57 | 545.68 |
| Cost Of Revenue | 59.76 | 66.42 | 79.31 | 128.75 |
| Gross Profit | 328.57 | 323.18 | 310.92 | 442.25 |
| Operating Expense | 260.01 | 300.20 | 325.28 | 383.77 |
| Research And Development | 46.77 | 52.16 | 63.84 | 79.18 |
| Selling General And Administration | 209.74 | 243.37 | 258.43 | 301.36 |
| Total Expenses | 319.78 | 366.62 | 404.58 | 512.52 |
| Operating Income | 68.55 | 22.98 | -14.35 | 58.47 |
| EBITDA | 72.06 | 27.66 | -8.42 | 53.89 |
| Normalized EBITDA | 77.79 | 30.28 | -10.93 | 61.57 |
| EBIT | 68.55 | 22.98 | -11.93 | 50.66 |
| Interest Income | 1.41 | 0 | 0 | - |
| Interest Expense | - | - | 0.12 | 5.46 |
| Net Interest Income | 1.41 | 0 | -0.12 | -5.46 |
| Other Non Operating Income Expenses | 1.46 | -0.18 | -0.08 | -0.14 |
| Other Income Expense | -4.28 | -2.80 | 2.43 | -7.81 |
| Interest Income Non Operating | 1.41 | 0 | 0 | - |
| Interest Expense Non Operating | - | - | 0.12 | 5.46 |
| Net Non Operating Interest Income Expense | 1.41 | 0 | -0.12 | -5.46 |
| Pretax Income | 65.69 | 20.18 | -12.05 | 45.20 |
| Tax Provision | 32.21 | 16.14 | 13.82 | 20.83 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -1.21 | -0.55 | 0.53 | -1.61 |
| Net Income Continuous Operations | 33.47 | 4.04 | -25.87 | 24.37 |
| Net Income From Continuing And Discontinued Operation | 50.08 | 6.07 | -22.69 | 24.77 |
| Net Income From Continuing Operation Net Minority Interest | 33.47 | 4.28 | -25.39 | 24.77 |
| Net Income | 50.08 | 6.07 | -22.69 | 24.77 |
| Net Income Common Stockholders | -1.33 | -334.01 | -517.78 | -487.52 |
| Net Income Including Noncontrolling Interests | 50.08 | 5.82 | -23.18 | 24.37 |
| Normalized Income | 38.01 | 6.36 | -27.36 | 30.83 |
| Diluted NI Availto Com Stockholders | -1.33 | -334.01 | -517.78 | -487.52 |
| Basic Average Shares | 138.83 | 137.97 | 138.83 | 397 |
| Diluted Average Shares | 138.83 | 137.97 | 138.83 | 397 |
| Reconciled Depreciation | 1.42 | 2.78 | 3.51 | 3.20 |
| Reconciled Cost Of Revenue | 61.84 | 68.32 | 78.81 | 128.78 |
| Total Unusual Items | -5.74 | -2.62 | 2.50 | -7.67 |
| Total Unusual Items Excluding Goodwill | -5.74 | -2.62 | 2.50 | -7.67 |
| Minority Interests | 0 | 0.25 | 0.49 | 0.40 |
| Net Income Discontinuous Operations | 16.60 | 1.78 | 2.69 | 0 |
| Special Income Charges | -11.25 | -0.32 | 0.53 | 4.52 |
| Gain On Sale Of Business | -11.50 | 0 | 0 | - |
| Other Special Charges | -0.25 | 0.32 | -0.53 | 10.98 |
| Restructuring And Mergern Acquisition | - | - | - | -15.50 |
| Gain On Sale Of Security | 5.51 | -2.30 | 1.97 | -12.19 |
| Depreciation Amortization Depletion Income Statement | 3.50 | 4.68 | 3.01 | 3.23 |
| Depreciation And Amortization In Income Statement | 3.50 | 4.68 | 3.01 | 3.23 |
| General And Administrative Expense | 76.96 | 95.96 | 126.25 | 175.51 |
| Other Gand A | 23.92 | 29.65 | 42.52 | 60.81 |
| Salaries And Wages | 53.04 | 66.32 | 83.74 | 114.70 |
| Provision For Doubtful Accounts | -0.25 | 0.32 | - | - |
| Selling And Marketing Expense | 132.78 | 147.41 | 132.17 | 125.84 |
| Otherunder Preferred Stock Dividend | 51.41 | 340.08 | 495.09 | 512.29 |
| Depreciation Income Statement | 3.50 | 4.68 | 3.01 | 3.23 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Webull Corporationthis co. | BULL | $3.2B | 130.96 | 3.19 | 2.4% | 49.51 |
| SoundHound AI, Inc. | SOUN | $3.5B | -247.50 | 7.47 | -3.0% | 113.33 |
| Dave Inc. | DAVE | $3.3B | 16.99 | 9.43 | 55.5% | 18.23 |
| Tenable Holdings, Inc. | TENB | $3.2B | -89.43 | 9.90 | -11.1% | 72.86 |
| NextNav Inc. | NN | $3.2B | -17.01 |
| -37.32 |
| 219.5% |
| -55.41 |
| Ambarella, Inc. | AMBA | $3.2B | - | 5.31 | -12.8% | - |
| Bel Fuse Inc. | BELFA | $3.1B | 51.01 | 7.38 | 14.5% | 24.22 |
| Fastly, Inc. | FSLY | $3.1B | -25.61 | 3.35 | -13.1% | -117.52 |
| Ouster, Inc. | OUST | $3.0B | - | 11.46 | -23.1% | - |
| Peer Median | - | -21.31 | 7.43 | -7.0% | 21.22 | |
Historically, Apr has averaged the highest return (+14.2%); Oct the lowest (-6.1%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -9.5%Negative MonthJan 2026: -9.52% | -17.4%Negative MonthFeb 2026: -17.35% | -17.4%Negative MonthMar 2026: -17.38% | +42.3%Positive MonthApr 2026: +42.29% | -6.3%Negative MonthMay 2026: -6.30% | +1.9%Neutral MonthJun 2026: +1.87% | +8.3%Positive MonthJul 2026: +8.28% | +22.4%*Positive MonthAug 2026: +22.38% | — | — | — | — |
| 2025 | +0.1%Neutral MonthJan 2025: +0.15% | +0.3%Neutral MonthFeb 2025: +0.33% | +4.5%Positive MonthMar 2025: +4.45% | +13.9%Positive MonthApr 2025: +13.85% | -15.9%Negative MonthMay 2025: -15.91% | +2.4%Positive MonthJun 2025: +2.40% | +18.6%Positive MonthJul 2025: +18.65% | -4.2%Negative MonthAug 2025: -4.23% | +8.8%Positive MonthSep 2025: +8.83% | -26.8%Negative MonthOct 2025: -26.84% | -13.8%Negative MonthNov 2025: -13.77% | -16.7%Negative MonthDec 2025: -16.72% |
| 2024 | +1.5%Neutral MonthJan 2024: +1.48% | +1.7%Neutral MonthFeb 2024: +1.73% | -1.1%Neutral MonthMar 2024: -1.07% | +0.4%Neutral MonthApr 2024: +0.36% | +0.2%Neutral MonthMay 2024: +0.18% | +0.1%Neutral MonthJun 2024: +0.12% | +0.6%Neutral MonthJul 2024: +0.56% | +0.6%Neutral MonthAug 2024: +0.58% | +0.8%Neutral MonthSep 2024: +0.76% | +1.1%Neutral MonthOct 2024: +1.09% | +0.9%Neutral MonthNov 2024: +0.92% | +0.5%Neutral MonthDec 2024: +0.52% |
| 2023 | +0.8%Neutral MonthJan 2023: +0.83% | +0.8%Neutral MonthFeb 2023: +0.83% | +0.8%Neutral MonthMar 2023: +0.77% | +0.4%Neutral MonthApr 2023: +0.38% | +0.6%Neutral MonthMay 2023: +0.57% | +0.6%Neutral MonthJun 2023: +0.57% | +0.2%Neutral MonthJul 2023: +0.19% | +0.8%Neutral MonthAug 2023: +0.85% | +0.5%Neutral MonthSep 2023: +0.47% | +0.5%Neutral MonthOct 2023: +0.47% | +0.4%Neutral MonthNov 2023: +0.37% | -0.2%Neutral MonthDec 2023: -0.18% |
| 2022 | — | — | — | — | — | — | — | — | +0.0%Neutral MonthSep 2022: +0.00% | +1.0%Neutral MonthOct 2022: +1.01% | +1.0%Neutral MonthNov 2022: +1.00% | +0.3%Neutral MonthDec 2022: +0.30% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 5 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
