Webull Corporation reported record second-quarter revenue of $198.8 million for the period ended June 30, 2026, marking a 51% increase from the same quarter a year earlier and a 24% rise from the prior three months. Cryptocurrency trading generated approximately $2.25 million, or a little over 1% of the total, according to details shared by company leadership.

Equity and options trading produced about $112 million, accounting for roughly 56% of quarterly revenue. Trading-related revenue overall climbed 66% to $147.7 million, underscoring the strength of the firm’s core brokerage operations.

Strong Activity in Equities and Options

Customer assets reached $28.5 billion at the end of the quarter, up 79% from a year earlier. Funded accounts grew 8% to 5.13 million, while registered users increased 13% to 28.2 million. Equity notional volume rose 73% to $279 billion, and options volume advanced 68% to 213 million contracts. Daily average revenue trades increased 62% to approximately 1.64 million.

Management linked part of the higher activity to the June 4 change in U.S. pattern day trader rules by FINRA. The update replaced previous day-trading margin requirements and removed the related $25,000 minimum equity threshold for the pattern day trader designation, although brokerages have until October 20, 2027, to complete the full transition. Webull said its systems supported the new standards from the effective date.

Net income attributable to the company totaled $24.4 million, reversing a $28.3 million loss in the year-earlier quarter. Pretax income stood at $34.7 million. Adjusted operating profit reached $62.6 million, corresponding to an adjusted operating margin of 31.5%. Adjusted net income rose to $43.2 million.

Crypto Contribution Remains Limited

President and director Anthony Michael Denier disclosed the $2.25 million crypto figure during the August 19 earnings call. The company’s formal financial release did not break out cryptocurrency trading as a separate line item. Denier noted that the business had been disappointing across recent quarters but added that conditions had begun to improve.

Webull is gradually introducing the ability for customers to deposit and withdraw cryptocurrency, allowing transfers between the platform and external wallets. No completion timeline, full list of supported assets, or geographic scope was provided. The firm returned cryptocurrency trading to its U.S. platform in August 2025 after consolidating related entities and also offers cryptocurrency futures through a partnership with Coinbase Derivatives.

In July, Webull received authorization to provide regulated crypto custody services in the European Union under the Markets in Crypto-Assets Regulation. Its European unit plans to launch crypto operations in late 2026, starting in the Netherlands.

Market Reaction and Industry Context

Webull’s quarterly revenue came in above certain Wall Street estimates that had centered near $194.5 million. Shares rose about 8.95% on Wednesday to close at $8.64 and continued higher in after-hours and pre-market trading on Thursday.

By comparison, Robinhood reported record overall quarterly results for the same period but saw its crypto transaction revenue decline 38% to $100 million. Webull’s results illustrate that strong growth in equities, options, and related products can support record brokerage revenue even when crypto trading remains a modest contributor.

The company has not issued specific guidance for cryptocurrency revenue in coming quarters. Future results will show whether the gradual rollout of deposit and withdrawal features and any broader recovery in digital-asset trading translate into a larger share of total income.