Webull (BULL) EBITDA (2024 - 2026)

Webull (BULL) reported EBITDA of -$16.1 million for Q1 2026, down 209.39% on a YoY basis from $14.7 million in Q1 2025, and down 257.09% quarter-over-quarter from $10.2 million in Q4 2025.

Webull (BULL) EBITDA (2024 - 2026) Analysis & Trends

Webull has reported EBITDA for 3 years, with the latest figure at -$16.1 million in Q1 2026.

  • For the quarter ending Q1 2026, EBITDA fell 209.39% year-over-year to -$16.1 million; the trailing twelve-month figure through Mar 2026 stood at -$480.2 million (down 3711.88% YoY), and the FY2025 full-year result was $41.1 million, up 229.88% from the prior year.
  • EBITDA for Q1 2026 stood at -$16.1 million, down from $10.2 million in the prior quarter.
  • The five-year high for EBITDA was $35.3 million in Q3 2025, with the low at -$509.7 million in Q2 2025.
  • Historically, EBITDA has averaged -$56.5 million across 3 years, with a median of -$4.3 million in 2024.
  • The largest YoY upside for EBITDA was 916.62% in 2025 against a maximum downside of 2028.67% in 2025.
  • Webull's EBITDA stood at $1.0 million in 2024, then soared by 916.62% to $10.2 million in 2025, then tumbled by 257.09% to -$16.1 million in 2026.
  • The last three EBITDA figures came in at -$16.1 million (Q1 2026), $10.2 million (Q4 2025), and $35.3 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) EBITDA (Qtr)
1 Sap Se 238.14 Bn 220.17 Bn 8.16 Bn 3.21 Bn
2 Full Truck Alliance 166.83 Bn 164.28 Bn - 145.23 Mn
3 Uber Technologies 150.36 Bn 149.32 Bn 11.88 Bn 1.92 Bn
4 Shopify 147.75 Bn 142.01 Bn 1.55 Bn -586.00 Mn
5 Salesforce 140.39 Bn 128.55 Bn 8.56 Bn 2.35 Bn
6 Cadence Design Systems 105.73 Bn 104.32 Bn 1.26 Bn 431.33 Mn
7 ServiceNow 105.42 Bn 100.24 Bn 2.83 Bn 457.00 Mn
8 Automatic Data Processing 89.57 Bn 86.34 Bn 2.87 Bn -1.37 Bn
9 Adobe 85.05 Bn 78.16 Bn 5.90 Bn 2.24 Bn
10 Webull 268.60 -676.99 Mn - -16.06 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -16.06 Mn
Dec 31, 2025 10.22 Mn
Sep 30, 2025 35.33 Mn
Jun 30, 2025 -509.66 Mn
Mar 31, 2025 14.68 Mn
Dec 31, 2024 1.01 Mn
Sep 30, 2024 -4.34 Mn
Jun 30, 2024 -23.94 Mn
Mar 31, 2024 -15.32 Mn