Webull (BULL, Financial) has announced impressive financial results for the first quarter, with revenue reaching $117.4 million, a notable increase from $88.9 million the previous year. The company's customer assets surged to $12.6 billion, marking a 45% rise compared to last year, driven by a 66% growth in net deposits.
The platform saw a 17% rise in registered users, totaling 24.1 million. Funded accounts increased by 10% to 4.7 million. Additionally, the notional volume of equities advanced by 15% to $128 billion, while options contracts saw an 8% increase to reach 121 million. Daily average revenue trades (DARTs) grew significantly as well, jumping 44% to 924 thousand.
Webull's leadership attributes this growth to the platform's robust trading capabilities and its focus on innovation and global distribution. Looking ahead, the company plans to diversify its product offerings and expand its reach to enhance customer experience and reinforce its position as a leading choice for retail investors.
