Webull Corp. announced its financial results for the second quarter of 2025, reporting total revenues of $131.5 million, a 46% increase year-over-year. The company attributed this growth to robust user engagement and heightened trading activity. Trading-related revenue saw a significant 63% increase compared to the previous year. The company's operating expenses rose by 37% year-over-year, primarily due to an $18.5 million increase in share-based compensation expenses. Despite this, adjusted operating expenses only grew by 20% year-over-year to $108.2 million. Webull has achieved three consecutive quarters of operating profitability, reflecting disciplined expense management and strong top-line growth. Customer assets surged by 64% year-over-year, reaching an all-time high, driven by market recovery and strong net deposits. In a significant business update, Webull entered into a standby equity purchase agreement in July, allowing access to $1 billion of capital through sales of its Class A ordinary shares. As of August 28, 2025, the company had raised $142.8 million under this agreement.