Webull Corp

Webull Corporation reported second-quarter results on August 19, swinging from a pre-tax loss of $21.4 million a year earlier to pre-tax income of $34.7 million for the quarter ended June 30. Revenue rose 51% year over year to $198.8 million while total operating expenses climbed just 13%, lifting adjusted operating profit to $62.6 million, a 31.5% margin, from $23.3 million a year ago. Equity notional volume reached $279 billion, up 73%, and options contracts hit 213 million, a 34% jump from the prior quarter alone, while customer assets climbed 79% to $28.5 billion. Funded accounts grew only 8% to 5.13 million, meaning the surge came mostly from existing customers trading more, and the 79% asset gain far outran 7% growth in net deposits. Adjusted operating expenses rose 26% to $136.2 million on higher brokerage and transaction costs, and 8.06% of the float is sold short, with the stock trading at 19.61 times forward earnings as of September 25.

Webull began offering eligible customers CME Group's nano-sized S&P 500 and Nasdaq-100 futures on September 14, each contract a tenth the size of a Micro E-mini. The launch followed the broker's best quarter ever, reported August 19 for the quarter ended June 30, when revenue reached $198.8 million, up 51% from a year earlier, and trading-related revenue rose 66% to $147.7 million. Total operating expenses grew 13%, swinging the company from a pre-tax loss of $21.4 million a year ago to pre-tax income of $34.7 million. Options volume hit 213 million contracts, up 34% from the prior quarter, and customer assets climbed 79% from a year earlier to $28.5 billion, while registered users rose 13% to 28.2 million and funded accounts grew only 8% to 5.13 million. Webull also launched in Spain, Argentina, and Colombia and is now licensed in 35 markets, though the company has not disclosed how much futures trading contributes to revenue.

TMBThanachart Bank, or TTB, has launched its "My Wealth" service through the ttb touch application, partnering with Webull to let customers invest in US stocks and ETFs. Kanokwan Phetpisitchot, Head of the Bank Transaction Products and Financial Wealth Management Group at TTB, said Thais hold deposits equal to 57% of their financial assets, while investment assets account for only 23%, below the global average of 45% and the US figure of 59%. Naris Aruksakulwong, Head of the Strategy and Digital Group at TTB, said the money management market offers three main options. Mobile banking has roughly 150 million accounts in total and combined AUM of about 15 to 16 trillion baht. Retail securities trading accounts in the Thai stock market number fewer than 5 million, with combined AUM of only 3.4 trillion baht. Alternative investment platforms have about 3 million users and combined AUM of only 300 billion baht. In the past quarter, the bank's investment income grew at a double-digit rate year on year, driven by a policy interest rate of about 1%, which has set off a flow of funds from deposit accounts into investment accounts. TTB sees an opportunity in the Mass Affluent segment, or MAF, with assets of under 1 million baht, which currently has a base of about 6,000 customers and combined AUM of more than 280 billion baht. The bank expects at least 50% of its 600,000-strong customer base to start using "My Wealth". Chonladech Khemarattana, Chief Executive Officer of Webull Securities (Thailand) Company Limited, or Webull, said Thai investors are increasingly interested in global investing, especially in diversifying their portfolios into overseas markets and leading global companies in technology and innovation, with the US market remaining one of the key markets drawing interest from investors worldwide.

Webull announced that eligible customers will gain access to CME Group's E-nano S&P 500 and E-nano Nasdaq-100 futures, expanding the platform's futures offering with smaller-sized contracts. The CME Nano Futures are ultra-small equity index contracts sized at one-tenth of comparable CME Micro E-mini futures, allowing investors to take positions with less notional exposure and potentially lower dollar margin requirements. Anthony Denier, Group President and U.S. CEO of Webull, said the addition reflects the company's vision of evolving alongside individual investors, while Tanmay Sheth, FCM Product Head for Futures and Prediction Markets at Webull, said the launch gives customers a more accessible way to participate in major equity index markets. Eligible customers with an approved Webull futures account can trade the contracts alongside existing futures products using the same tools, subject to applicable account, margin, risk and jurisdictional requirements. CME Nano Futures are expected to be available to eligible Webull customers in mid-September.

Webull Corporation announced the completion of its acquisition of Pi Securities in Thailand, targeting a combined asset under management of THB 200 billion. The deal, approved by Thailand's SEC, involved Webull purchasing approximately 99.36% of Pi Securities for an aggregate consideration of about US$100 million, including a 90.98% stake from Country Group Holdings for US$90 million and an additional 8.38% from another shareholder for US$10 million. Webull Thailand's CEO highlighted synergies in research, technology, and AI, while the company plans to expand wealth management and leverage partnerships, including with a Thai bank and TrueMoney Mini App. Initially, both firms will operate independently under their respective brands.

Mr. Chonladech Khemaratana, Chief Executive Officer of Webull Thailand, revealed that the company is pursuing criminal charges and seeking damages from media outlets that accused the company of accepting deposits outside the system, not performing KYC, and being an illegal bank. He affirmed that the allegations are false and that the company has passed inspections by the SEC and AMLO. The news caused fewer than 10 partners under discussion to temporarily suspend relations, about half of them, but key partners such as True Money and TTB continue their collaboration. Webull also pointed out that the SEC's approval for it to acquire a major stake in Pi reflects transparency, and the company recently received an award from the Cyber Police. Webull Group is registered in the US, does not operate in China, and has branches in four Southeast Asian countries, including Thailand.

Coinbase has launched regulated crypto derivatives for eligible Canadian traders, offering 23 crypto futures tied to assets such as Bitcoin, Ether, and Solana, along with five commodity futures covering gold, silver, and oil, and index futures including COIN50. The offering, announced in a Tuesday blog post by Eric Richmond, Country Director and CEO of Coinbase Canada, includes nano-sized products to lower capital requirements, with leverage up to 10 times. The futures are provided by Coinbase Financial Markets, a registered futures commission merchant overseen by the US Commodity Futures Trading Commission. Coinbase is also offering promotional pricing of 0.02% per trade plus a flat $0.11 fee per contract for a limited period, and has expanded its partnership with Webull into Canada, allowing customers to trade Bitcoin, Ethereum, and Solana directly through Webull.

Robinhood Markets stock rose 7% to $110.97 and Webull climbed 4% to $8.86 after Webull CEO Anthony Denier reported a nearly 300% increase in retail buy orders for Bitcoin and Ethereum since the June 4 repeal of the pattern day trader rule. Denier told CNBC that the old $25,000 minimum equity requirement had locked out most Webull users, whose average account holds about $5,500, and that the repeal helped lift Webull's quarterly revenue from $160 million in Q1 to nearly $200 million. Webull's Q2 2026 revenue of $198.83 million beat the $182.83 million consensus, with trading-related revenue up 66% year over year to $147.7 million and daily average revenue trades hitting a record 1.6 million. The ARK Blockchain & Fintech Innovation ETF gained 2% to $46.45 while the iShares Bitcoin Trust ETF added just 0.6% to $44.92, underscoring that brokers capture a trading-volume premium that pure spot Bitcoin funds do not. Bitcoin itself was up only 0.4% over the past 24 hours at $79,377.30, while Ethereum slipped 0.5% to $2,475.16.

Webull Corporation reported second-quarter 2026 results showing revenue of US$198.83 million and net income of US$24.36 million, reversing a loss a year earlier and turning both basic and diluted earnings per share from continuing operations positive. The earnings release highlighted how the SEC's removal of the Pattern Day Trader rule, combined with Webull's updated active-trader tools and growing options activity, materially reshaped customer behavior and boosted trading volumes across its platform. The company also completed a US$10.98 million share repurchase, about 0.34% of shares. Webull's narrative projects $1.1 billion in revenue and $254.0 million in earnings by 2029, with a $12.00 fair value estimate representing a 36% upside to its current price.

Webull reported a shift from a loss to a profit in its second quarter 2026 earnings and completed a share repurchase program. The stock has gained 43.2% over the past 90 days to US$8.85, though the one-year total shareholder return is down 42.6% and the three-year return is down 17.3%. The company is expanding into Canada, Latin America, and Europe, and its subscription offerings such as Webull Premium are exceeding targets. Webull trades at about 110.1 times earnings, well above the US Capital Markets industry average of 38.5 times and its own fair ratio of 51.6 times.

U.S. stock futures were little changed on Thursday as investors assessed a fresh batch of corporate earnings and analyst actions. CrowdStrike shares fell 2.8% in premarket trading after Bloomberg reported that the cybersecurity company's chief technology officer is departing to launch an artificial intelligence-focused cybersecurity fund. Advance Auto Parts stock plunged 15.9% after its second-quarter results revealed a significant difference between headline earnings and underlying performance, with about $0.31 of the reported $1.03 adjusted diluted earnings per share coming from one-time tariff refunds. Deere shares jumped 5.1% after the agricultural and construction equipment maker delivered a stronger-than-expected fiscal third quarter, with diluted earnings per share of $5.10 and net sales of about $11 billion. Etsy gained 3.9% in premarket trading after BofA Securities upgraded the online marketplace to Buy from Neutral and raised its price target to $105 from $88. Ultragenyx surged 11.1% after the U.S. Food and Drug Administration granted accelerated approval to GENGLYCOS, also known as DTX401, a gene therapy for glycogen storage disease type Ia in patients aged eight and older. Moderna shares fell 13% in premarket trading, retreating after more than doubling in the previous session following the company's major cancer-vaccine trial announcement with Merck. Wolfspeed plunged 10.5% after the semiconductor company reported a sharply wider-than-expected fiscal fourth-quarter loss, with an adjusted loss of $2.26 per share and revenue of $149.6 million. Webull rose 13.8% after the digital brokerage reported its strongest quarterly results since going public, with second-quarter revenue of $198.8 million and adjusted earnings of $0.05 per share.

Stock futures were lower early Thursday as persistent geopolitical tensions in the Middle East drove Brent crude over $92 a barrel, reinforcing broader inflation concerns. Webull shares climbed 14% after the digital investment platform reported record Q2 revenue of $198.8M, up 51% Y/Y and 24% Q/Q, beating estimates of $180.7M, while Ultragenyx Pharmaceutical surged 12% after the FDA granted accelerated approval to Genglycos, its gene therapy for glycogen storage disease type Ia. Circle Internet Group gained 5% alongside a broader rally in crypto-linked stocks as Bitcoin climbed more than 9% to around $71K, its highest level since June 2, following the U.S. Treasury's surprise decision to double planned buybacks of longer-dated Treasuries to at least $4B per operation. Wolfspeed plunged 10% after reporting a wider-than-expected FQ4 adjusted loss of $2.26 per share, versus the $1.47 consensus, while revenue rose 24% Y/Y to $149.6M, and Coty tumbled 9% after mixed FQ4 results with LFL revenue down 1% and adjusted operating income plunging 31%.

Webull and Robinhood Markets each climbed 7% in midday trading Wednesday, driven by a Bitcoin rally and company-specific catalysts. Webull shares rose to $8.49 ahead of its Q2 2026 earnings report after the close, with analysts projecting revenue of $182.83 million, up from $156.94 million a year earlier, and consensus EPS of $0.03. Robinhood advanced to $98.45 as CEO Vlad Tenev pushed U.S. regulators to approve tokenized stocks, arguing tokenization is the best path to modernizing the American financial system. Coinbase surged 11% to $163.32 as Bitcoin traded around $68,500, up 6% over 24 hours, though Coinbase remains down 35% year to date. The ARK Fintech Innovation ETF rose 4% to $44.20, reflecting its exposure to Robinhood and Coinbase, which account for 4.5% and 5.8% of net assets respectively.

Webull Australia has partnered with Qantas Frequent Flyer to let Australian clients earn Qantas Points through three new offers. New clients who open an account, deposit or transfer at least AUD$500 and hold it for 30 days receive 1,000 bonus Qantas Points and 12 months of complimentary 24-Hour Live US Market Data. A deposit and transfer offer running from 1 July 2026 to 30 September 2026 awards 1 Qantas Point per AUD$1 on eligible balances of AUD$2,000 or more, capped at 100,000 points, paid in four instalments if the balance is retained until 31 July 2027. Existing clients can earn up to 200 Qantas Points per trade on buy orders across US stocks, ETFs, Hong Kong stocks and China A shares, up to 2,000 points per month.

The Commodity Futures Trading Commission filed a federal lawsuit against Kentucky on June 23, 2026, challenging the state's recent shutdown orders and a 14.25% excise tax on prediction market transaction fees. Kentucky had moved the prior week to block Polymarket, Kalshi, Coinbase, Robinhood, and Webull, calling them unlicensed gambling operators, and the CFTC argues the tax makes the business economically impossible in the state. The complaint names Governor Andrew Beshear, Attorney General Russell Coleman, Department of Revenue Commissioner Thomas Miller, and the Kentucky Racing and Gaming Corporation as defendants, seeking declaratory and injunctive relief. The CFTC's legal theory relies on federal preemption under the Commodity Exchange Act, asserting that Kalshi and Polymarket are federally licensed exchanges and their event contracts are swaps. A parallel suit was filed by the Coalition for Fair Markets, representing Kalshi, Polymarket, Crypto.com, and Robinhood, calling the tax discriminatory and unconstitutional.