Webull Stock (NASDAQ: BULL) Endures Turbulent Month as Earnings Await

Webull’s stock (NASDAQ: BULL) debuted on the Nasdaq via a SPAC merger with SK Growth Opportunities on April 14, 2025, soaring 375% to $79.56 within days. Retail investor enthusiasm, fueled by social media and meme-stock comparisons, drove the surge, but the rally was short-lived. At yesterday's close, the stock had fallen more than 80% from recent highs, with the last month alone accounting for a 66% decline.

Now, markets will get the first earnings report from the company, with Webull set to release its first-quarter 2025 earnings results on May 22, 2025, after market close. This event could prove pivotal for evaluating Webull’s financial health after a turbulent period. Key metrics under scrutiny include revenue growth, user acquisition, and expense management, especially given Webull’s negative profit margin (-9.1%) and high price-to-sales ratio (81.98).

• Revenue (TTM): $388.97 million
• Net Loss (TTM): -$517.78 million
• Return on Assets: 34.59% (efficient asset utilization)
• Debt-to-Capital Ratio: Low at 0.98, indicating minimal leverage

The call may also address operational costs tied to recent partnerships with Visa and BlackRock. On May 6, 2025, Webull partnered with Visa to integrate Visa Direct, enabling near-instant transfers between Webull brokerage accounts and external bank accounts. This feature reduces reliance on slower ACH transfers and aims to attract active traders seeking immediate access to funds during volatile markets. The collaboration supports Webull’s strategy to upgrade its tech infrastructure and user experience, though financial terms remain undisclosed.

Webull Advisors, the platform’s SEC-registered advisory arm, launched BlackRock model portfolios on May 1, 2025. These portfolios span multiple asset classes, including alternatives and digital assets, and are tailored to individual risk profiles. The move positions Webull to compete more aggressively in wealth management, diversifying revenue beyond commission-free trading. CEO Sara Schwartz emphasized the partnership’s role in delivering “smarter, more personalized investment experiences.” However, the long-term impact depends on adoption rates and whether advisory services can offset declining trading revenues.

All eyes now turn to Webull’s Q1 2025 earnings release on May 22. With no consensus analyst estimates, markets will likely focus on management’s commentary regarding revenue growth, user acquisition, expense management, and the financial impact of recent partnerships. The call will also be an opportunity to address regulatory concerns and provide guidance on the path to profitability.