Webull (BULL) Operating Expenses (2024 - 2026)

Webull's Operating Expenses history runs 3 years deep, the most recent figure standing at $162.3 million for Q1 2026.

• Quarterly Operating Expenses rose 67.7% year-over-year to $162.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $578.0 million (up 43.57% YoY) and the FY2025 annual result came in at $512.5 million, up 26.68% from the prior year.
• Operating Expenses was $162.3 million for Q1 2026 at Webull, up from $148.0 million in the prior quarter.
• Across five years, Operating Expenses topped out at $162.3 million in Q1 2026 and bottomed at $95.2 million in Q4 2024.
• A 3-year average of $119.9 million and a median of $111.9 million in 2024 frame the typical range for Operating Expenses.
• Annual changes were most pronounced in 2025 — Operating Expenses declined 1.99% — and 2026, when it soared 67.7%.
• Webull's Operating Expenses stood at $95.2 million in 2024, then surged by 55.43% to $148.0 million in 2025, then grew by 9.67% to $162.3 million in 2026.
• Business Quant data shows BULL's Operating Expenses at $162.3 million in Q1 2026, $148.0 million in Q4 2025, and $132.5 million in Q3 2025.