Crypto generated about 1% of Webull’s record $198M Q2 revenue

cointelegraphPublished on 2026-08-20Last updated on 2026-08-20

Abstract

Webull reported record Q2 2026 revenue of $198 million, a 51% year-over-year increase. Cryptocurrency trading contributed $2.25 million, or just over 1%, of this total. The majority of revenue (56%, or $112 million) came from equity and options trading. During an earnings call, President Anthony Michael Denier stated the company is gradually introducing crypto deposit and withdrawal features. The results slightly exceeded Wall Street estimates, and Webull's stock price saw significant gains following the announcement. In contrast, competitor Robinhood recently reported a 38% decline in its crypto transaction revenue for the quarter.

Webull said Wednesday that cryptocurrency trading accounted for $2.25 million, or a little over 1% of the platform’s record $198 million revenue for the second quarter of 2026.

Revenue for the period was up 51% year-over-year, according to online brokerage and digital trading platform’s Wednesday earnings release.

That’s as equity and options trading generated $112 million of the quarterly income, or about 56% of the total $198 million.

Webull president and director Anthony Michael Denier during a Wednesday earnings call said the company was in the process of gradually rolling out crypto deposit and withdrawal capabilities.

Online brokerage Robinhood also posted record quarterly results on July 30, but its crypto transaction revenue fell 38% to $100 million, from about $160 million a year earlier.

Cointelegraph has approached Webull for more details about its cryptocurrency trading revenue compared to previous quarters.

The platform’s quarterly revenue came in slightly above Wall Street consensus of $194.5 million, according to analyst estimates compiled by Yahoo Finance. Webull’s stock price rose 8.9% on Wednesday and was up nearly 15% in pre-market activity on Thursday, changing hands at $9.98 a shareas of 10:37 am UTC.

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