Webull (BULLW) Operating Expenses (2024 - 2026)

Webull has reported Operating Expenses for 3 years, with the latest figure at $162.3 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 67.7% year-over-year to $162.3 million; the trailing twelve-month figure through Mar 2026 stood at $578.0 million (up 43.57% YoY), and the FY2025 full-year result was $512.5 million, up 26.68% from the prior year.
• Operating Expenses for Q1 2026 stood at $162.3 million, up from $148.0 million in the prior quarter.
• The five-year high for Operating Expenses was $162.3 million in Q1 2026, with the low at $95.2 million in Q4 2024.
• Historically, Operating Expenses has averaged $119.9 million across 3 years, with a median of $111.9 million in 2024.
• Annual changes were most pronounced in 2025 — Operating Expenses decreased 1.99% — and 2026, when it soared 67.7%.
• Webull's Operating Expenses stood at $95.2 million in 2024, then soared by 55.43% to $148.0 million in 2025, then advanced by 9.67% to $162.3 million in 2026.
• The last three Operating Expenses figures came in at $162.3 million (Q1 2026), $148.0 million (Q4 2025), and $132.5 million (Q3 2025), per Business Quant data.