Key Highlights

  • Webull shares are up 10.53% pre-market at $9.55, extending Wednesday's 8.95% gain.
  • Second-quarter 2026 Revenue jumped 51% year-over-year to $198.8 million, beating estimates by 8.67%.
  • GAAP Net Income swung to $24.4 million from a year-ago loss, with adjusted net income rising to $43.2 million.
  • Customer Assets grew 79% year-over-year to $28.5 billion, with Equity notional Volume up 73% and Options volume up 68%.

Webull Surges on Best Quarter in Company History

Webull (NASDAQ:BULL) shares are up 10.53% in pre-market trading on August 20, extending Wednesday's 8.95% gain, after the company reported second-quarter 2026 results that it called the best quarter in company history. Revenue jumped 51% year-over-year to $198.8 million, beating consensus estimates by 8.67%, while GAAP net income swung to $24.4 million from a year-ago loss and adjusted net income rose to $43.2 million.

Webull is a digital Investment platform founded in 2016 by Anquan Wang, headquartered in St. Petersburg, Florida, and listed on Nasdaq following its 2025 SPAC Merger with SK Growth Opportunities. Through its network of licensed broker-dealer subsidiaries, Webull provides retail investors across more than a dozen global markets, including the US, Canada, the UK, Australia, Hong Kong, and others, with access to securities trading, Wealth Management products, market data and analytics, community features, and investor education, serving over 26 million registered users worldwide.

Trading Activity Hits Records Following PDT Rule Elimination

Trading activity hit records following the elimination of the Pattern Day Trader rule on June 4, with equity notional volume climbing 62% to $1.6 billion and daily average revenue trades up 62% year-over-year to 1.64 million. Adjusted operating profit hit a record $62.6 million, a 31.5% margin, up 169% year-over-year, while adjusted operating expenses rose 26% to $136.2 million but declined 6% sequentially due to normalizing Marketing spend.

International expansion continued with approximately 810,000 international funded accounts across licenses in 35 markets and trading activity in 18 markets, with international customer assets exceeding $5 billion and a pending Acquisition of Pi Securities in Thailand expected to close by the end of August. Institutional assets under management exceeded $1.4 billion, roughly 5% of total AUM.

What This Means for Investors

The strong print followed Rosenblatt Securities' reiterated Buy rating and $13 price target, and drove shares sharply higher into further gains in after-hours trading even as broader tech markets stayed volatile amid rising Treasury yields and a semiconductor-led selloff earlier in the week. Management expects marketing spend to normalize going forward, in a similar quantum to first-half 2026 levels, with August trading activity trending stronger than July and Margin Debt balances approaching all-time highs, while the company continues investing in AI tools and expanding institutional and crypto and prediction market offerings.