Webull Q2 revenue reaches $198.8 million as company returns to profit

Webull Corporation reported second-quarter revenue of $198.8 million and a return to GAAP profit in unaudited interim results furnished with a September 11 Form 6-K. Revenue for the three months ended June 30, 2026, compared with $131.5 million a year earlier. Net income attributable to the company was $24.4 million, reversing a $28.3 million loss in the second quarter of 2025. The results pair a larger revenue base with positive quarterly earnings, although first-half attributable profit was considerably smaller than the second-quarter result.

Q2 revenue and return to profit

Webull reported total revenues of $198,831,080 in the second quarter of 2026, compared with $131,493,350 in the second quarter of 2025. Net income attributable to the Company was $24,364,324 in Q2 2026, versus a loss of $(28,274,027) in Q2 2025. Basic EPS attributable to ordinary shareholders was $0.05 and diluted EPS was $0.04 in Q2 2026, compared with a prior-year basic/diluted loss per share of $(1.20) (Exhibit 99.1).

Revenue mix

Equity and option order flow rebates were $112,961,852 in Q2 2026 versus $68,688,838 in Q2 2025. Interest related income was $42,752,379 versus $36,286,533, and handling charge income was $34,780,092 versus $20,105,503. For the six months ended June 30, 2026, total revenues were $358,759,096 versus $248,862,185 in the prior-year half.

H1 run rate and balance sheet

Net income attributable to the Company for H1 2026 was $2,641,594 (Exhibit 99.1 full dollars; MD&A thousands table shows $2.64 million), versus an H1 2025 loss of $(15.19) million in the MD&A summary table. Cash and cash equivalents were $701,621,304 at June 30, 2026, versus $653,188,906 at December 31, 2025. Total assets were $4,112,737,595 versus $3,880,871,303. Payables due to customers were $2,877,895,236 versus $2,667,837,626. A revolving credit facility of $17,611,040 and unsecured promissory notes of $50,000,000 were classified as current at June 30, 2026.

Platform scale metrics

As of June 30, 2026, MD&A operating metrics included 28.2 million registered users, 5.1 million funded accounts, a 97.3% quarterly retention rate, $28.5 billion of customer assets, DARTs of 1.64 million, equity notional volume of $279 billion, and 213 million options contracts.

Non-GAAP adjusted profitability

Non-GAAP adjusted operating profit was $62.59 million in Q2 2026 versus $23.24 million in Q2 2025, and $77.41 million in H1 2026 versus $51.9 million in H1 2025. Non-GAAP adjusted net income was $43.16 million in Q2 2026 versus $15.41 million, and $52.4 million in H1 2026 versus $36.67 million. Adjusted operating profit excludes share-based compensation, one-time transactions, and other expense (income), net; adjusted net income excludes share-based compensation, FX gains/losses, and one-time transactions (MD&A notes).

What remains to be confirmed

This package does not include guidance, a Q3 outlook, analyst estimates, or share-price reaction. Form 6-K AccNo 0001213900-26-099290 with Exhibits 99.1 and 99.2 furnishes the unaudited interim statements and MD&A for the periods ended June 30, 2026 (accepted September 11, 2026 ~16:27 ET).