Webull Corporation Warrants Q3 FY2025 earnings call

• Strong momentum and growth in a favorable market environment, with revenue up 55% year over year.
• Product expansions: Reintroduced crypto with crypto futures trading, launched sports prediction markets via partnership with Kalshi, and unveiled Vega, an AI-powered decision-making partner. Webull Premium subscription reached 90,000 subscribers, up 20% from the previous quarter.
• Geographic expansion: Webull Canada set to reach $1 billion in assets under management, launched platform in the EU starting with The Netherlands, and entered strategic partnerships for U.S. market access in South Korea. Level three options trading live in Singapore and Hong Kong, imminent launch in Japan.
• User and funded accounts growth: Added roughly 1 million registered users, bringing total to 25.9 million; added approximately 200,000 new funded accounts, totaling 4.93 million, with a 97.7% quarterly retention rate.

In the third quarter, Webull Corporation Class A Ordinary Shares recorded top-line revenue of $156.9 million, representing 55% growth year over year. Customer assets reached an all-time high of $21.2 billion, inclusive of $1.2 billion from the acquisition of Webull Pay. Equity trading volume surged 71% year over year. Interest-related income grew 32% year over year to RMB43.4 million. Adjusted operating expenses for the quarter were $120 million, a 13% year-over-year increase. Adjusted operating profit was $36.7 million, with an adjusted operating margin of 23.4%, a 28.7% improvement from the prior year.

• Continued focus on margin expansion and execution, aiming for sustainable growth. Vega to play a crucial role in portfolio consolidation. Webull Premium on track to reach 100,000 subscribers by year-end. Continue expanding crypto offerings globally and exploring digital asset licenses. Prioritize delivering U.S. products to international markets and building diversified revenue streams.

Q: Future listings and listing strategy?

A: Plan to have as many offerings as possible, goal to offer diverse products, focus on better trading experience.

Q: Localized features in international markets and user resilience in U.S. IVD volatility?

A: Local teams in each region, export U.S. retail trading experience globally. Well-positioned for rising VIX as customers can short sell and trade more during volatility.