Webull Corporation (BULL)

Webull Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Net Income	-13.88	-22.69	6.07	50.08
Depreciation & Amortization, Total	9.89	10.18	7.45	4.92
Stock-Based Compensation	47.02	32.59	29.41	30.02
Change in Accounts Receivable	390.55	264.63	519.63	3.16
Change in Accounts Payable	5.24	11.98	-13.75	-94.98
Change in Other Net Operating Assets	-43.19	-97.71	-72.55	-16.21
Other Operating Activities	-1.57	-14.08	-5.67	-9.18
Operating Cash Flow	394.64	185.22	470.6	-31.21
Capital Expenditures	-1.84	-2.41	-4.54	-31.55
Cash Acquisitions	-	-	-5.5	-0.11
Investment in Securities	-1	-	-	-0.77
Investing Cash Flow	-2.84	-2.41	-10.04	-32.43
Short-Term Debt Issued	-	5	-	-
Total Debt Issued	35	5	-	-
Short-Term Debt Repaid	-	-5	-	-
Long-Term Debt Repaid	-	-	-	-10.84
Total Debt Repaid	-35.47	-5	-	-10.84
Net Debt Issued (Repaid)	-0.47	-	-	-10.84
Issuance of Common Stock	177.52	0.05	-	0
Other Financing Activities	-	-	-7.16	-
Financing Cash Flow	177.05	40.35	12.84	17.89
Foreign Exchange Rate Adjustments	4.96	-7.33	2.45	-5.45
Net Cash Flow	573.81	215.82	475.85	-51.2
Free Cash Flow	392.8	182.8	466.05	-62.76
Free Cash Flow Growth	37.54%	-60.78%	-	-
Free Cash Flow Margin	85.93%	47.00%	119.96%	-16.17%
Free Cash Flow Per Share	1.85	1.32	3.38	-0.47
Cash Interest Paid	0.03	0.03	-	-
Cash Income Tax Paid	15.97	15.97	19.47	55.17

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.

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