Webull Corporation (NASDAQ:BULL) is a fast-rising digital brokerage firm that has emerged as a formidable player in the global fintech space. Founded in 2016 by Chinese entrepreneur Wang Anquan, a former executive at Alibaba, Webull was created to modernize retail investing through advanced technology, real-time market access, and intuitive trading tools. Headquartered in New York, with strong backing from major investors like Xiaomi and Shunwei Capital, Webull set out to challenge legacy brokers and capitalize on a new era of mobile-first, data-driven investing.
Unlike many of its fintech peers, Webull was purpose-built for both novice and sophisticated traders. The platform distinguishes itself with a feature-rich interface offering commission-free trading in U.S. equities, ETFs, options, and crypto, along with professional-grade tools like real-time quotes, customizable technical indicators, earnings calendars, Level 2 market data, and paper trading simulators. This hybrid approach—serving both beginner investors and active traders—allowed Webull to quickly gain traction among younger, digitally native users who were underserved by traditional financial institutions.
Webull gained significant attention during the COVID-era retail trading boom, as millions of users turned to app-based platforms to invest in volatile markets. But while many fintech startups struggled to convert user growth into sustainable profits, Webull continued to expand its capabilities and geographic reach. By 2024, the company had launched in multiple countries across North America, Asia, Europe, and Latin America, and diversified its offerings to include fixed income, prediction markets, subscription-based premium services, and advisory solutions. Today, Webull operates in more than 14 countries and has tens of millions of registered users managing billions in customer assets.
In April 2025, Webull made its public debut through a SPAC merger with SK Growth Opportunities, trading under the ticker BULL on the Nasdaq. The move not only provided fresh capital but also validated Webull’s business model in a more demanding, post-SPAC market environment. Unlike many of its fintech peers, Webull achieved profitability in early 2025, delivering strong margins and rapid revenue growth while continuing to scale globally.
Webull’s commitment to technological excellence, regulatory compliance, and product innovation has earned it recognition as one of the most well-rounded digital brokerages in the world. As the fintech sector continues to evolve, Webull is positioning itself as more than just a brokerage—it’s building a full-spectrum financial platform designed for the modern, mobile, global investor. With its eyes set on long-term global dominance and an ecosystem built for the AI-driven, multi-asset investor of tomorrow, Webull Corp is not only surviving the fintech shakeout—it’s thriving in it.
Webull Turns the Corner: Q1 2025 Delivers Profitability and Operating Leverage
Webull’s Q1 2025 earnings marked a major inflection point in the company’s evolution. The platform reported $117.4 million in revenue, representing 32% year-over-year growth. What stood out even more was the company’s 24.4% adjusted operating margin—a massive expansion from just 2.6% the year prior. For the first time in its history, Webull achieved net profitability, posting $12.9 million in earnings compared to a $12.6 million net loss in Q1 2024.
These figures are not just milestones—they are proof that Webull is no longer a speculative growth story. It is a financially disciplined fintech that is executing well on both growth and cost control. With global expansion already underway and new verticals launching rapidly, the company appears to be building a scalable, sustainable platform for the long haul.
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User Growth, Asset Surge, and Robust Trading Volumes
Webull’s ecosystem is expanding aggressively. By the end of Q1 2025, the company reported over 24.1 million registered users and 4.7 million funded accounts—up 17% and 10% respectively year over year. Customer assets surged to $12.6 billion, a massive 45% gain, while net deposits jumped 66% compared to the same quarter last year.
Daily average revenue trades (DARTs) climbed to 924,000, marking a 44% increase. This uptick in activity reflects growing user engagement and increased monetization via payment-for-order-flow and other transaction-based revenues. At a time when competitors are pulling back or consolidating, Webull is steadily growing its base and deepening engagement.
Mixed Options Sentiment: Short-Term Noise, Long-Term Opportunity
On June 19, 2025, shares of Webull Corp (BULL) dipped slightly by 0.77%, closing near $10.30. Options market data revealed a mixed sentiment. Though the overall options volume was light with just 4,729 contracts traded, the call-to-put ratio stood at a bullish 0.22—well below the typical 0.33 benchmark. Implied volatility (IV30) fell 1.15 points to 74.62, marking one of the lowest readings of the year and indicating subdued short-term volatility expectations. With a flattened put-call skew and a relatively strong call volume, the options market reflects a cautiously optimistic stance among traders despite the pullback.
This cooling of implied volatility often suggests a base-building phase in the underlying stock. It also opens opportunities for long-dated call buyers or volatility sellers to position ahead of the next fundamental catalyst—possibly earnings or another product expansion. For long-term investors, this momentary dip and modest options sentiment could be seen as a buying opportunity, especially in light of the company’s underlying financial performance.
New Revenue Engines: Webull Premium and Kalshi Integration
To diversify its income beyond commissions, Webull has launched “Webull Premium,” a subscription-based offering that has already attracted 40,000 users managing over $2 billion in assets. More importantly, Webull has also integrated prediction markets through its partnership with Kalshi, allowing traders to speculate on macroeconomic events, election outcomes, and now—crypto prices on an hourly basis.
The addition of Kalshi’s hourly crypto prediction contracts enhances Webull’s product ecosystem and provides a highly differentiated experience in a crowded brokerage market. This move taps into the growing demand for alternative investing instruments while reinforcing the company’s commitment to innovation.
Global Expansion and Product Diversification
Webull’s international strategy is progressing rapidly. It has expanded into 14 countries, including Canada, Brazil, Thailand, Malaysia, and Mexico, creating a truly global fintech platform. Unlike competitors focused primarily on North America, Webull is targeting markets underserved by legacy brokers.
Product-wise, the platform has added everything from fractional bonds and U.S. Treasuries to advisory services, crypto, and even paper trading simulators for beginner investors. This wide range of offerings positions Webull to capture a broader audience—from first-time investors to institutional-grade traders.
Valuation Remains Attractive Relative to Peers
Even after a recent rally, Webull trades around $12, giving it a modest market cap relative to its user base and revenue generation. In comparison to competitors like Robinhood or SoFi, Webull appears undervalued when factoring in profitability, global reach, and growth momentum. The company’s clean balance sheet, growing cash flow, and expanding margin profile suggest room for multiple expansion as investor confidence builds.
As the fintech sector re-rates away from “growth at any cost” toward “profitable growth,” Webull’s operating leverage, recurring subscription revenue, and expanding ecosystem put it in a unique category. The stock may still carry short-term volatility, but long-term fundamentals are strengthening quarter after quarter.
Final Thoughts: Webull Is Emerging as a Fintech Survivor—and a Future Leader
Webull Corp is quietly becoming a leader in the post-pandemic fintech reshuffle. With strong financials, growing users and assets, innovative product rollouts, and a disciplined operating structure, Webull has crossed a critical threshold: it is now a real business, not just a speculative bet.
Despite mixed short-term sentiment in the options market, long-term investors should consider Webull’s strengthening fundamentals, international expansion, and tech-forward product strategy. For those seeking exposure to the next generation of brokerage, wealth management, and digital finance, Webull may offer one of the most compelling risk-reward setups in the public markets today.
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