v3.25.2
Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity (Deficit) - USD ($)
Ordinary Shares
Previously Reported
Class A
Ordinary Shares
Class A
Ordinary Shares
Class B
Treasury Share Reserve
Previously Reported
Treasury Share Reserve
Additional Paid-in- Capital
Previously Reported
Additional Paid-in- Capital
Subscription Receivable
Previously Reported
Subscription Receivable
Accumulated Deficit
Previously Reported
Accumulated Deficit
Accumulated Other Comprehensive Loss
Previously Reported
Accumulated Other Comprehensive Loss
Total Shareholders’ (Deficit) Equity
Previously Reported
Total Shareholders’ (Deficit) Equity
Noncontrolling Interest
Previously Reported
Noncontrolling Interest
Previously Reported
Total
Balance at Dec. 31, 2021   $ 13,449         $ (3,449)   $ (1,473,025,700)   $ (4,970,718)   $ (1,477,986,418)     $ (1,477,986,418)
Balance (in Shares) at Dec. 31, 2021   134,486,491                                  
Balance (in Shares) at Dec. 31, 2021         (6,370,243)                            
Issuances of vested restricted stock awards   $ 127               127     127
Issuances of vested restricted stock awards (in Shares)   1,267,639     1,267,639                            
Net loss attributable to noncontrolling interest                                    
Issuance of shares to treasury share reserve                    
Issuance of shares to treasury share reserve (in Shares)         (2,674,846)                            
Share-based compensation         30,085,992         30,085,992     30,085,992
Receipt of subscription receivable           3,449       3,449     3,449
Net income (loss) attributable to the Company             50,077,626     50,077,626     50,077,626
Preferred shares redemption value accretion         (30,085,992)     (21,323,757)     (51,409,749)     (51,409,749)
Foreign currency translation adjustment, net of $0 income taxes               (3,551,836)   (3,551,836)     (3,551,836)
Balance at Dec. 31, 2022   $ 13,576           (1,444,271,831)   (8,522,554)   (1,452,780,809)     (1,452,780,809)
Balance (in Shares) at Dec. 31, 2022   135,754,130                                  
Balance (in Shares) at Dec. 31, 2022         (7,777,450)                            
Issuances of vested restricted stock awards   $ 132       (132)            
Issuances of vested restricted stock awards (in Shares)   1,323,252     1,323,252                            
Spin-off of subsidiary to shareholders             (7,014,594)     (7,014,594)     (7,014,594)
Acquisition of PT Webull Sekuritas Indonesia                   910,230   910,230
Net loss attributable to noncontrolling interest                   (247,296)   (247,296)
Share-based compensation         29,375,956         29,375,956     29,375,956
Net income (loss) attributable to the Company             6,069,284     6,069,284     6,069,284
Preferred shares redemption value accretion         (29,375,824)     (310,704,176)     (340,080,000)     (340,080,000)
Foreign currency translation adjustment, net of $0 income taxes               1,662,753   1,662,753   (2,713)   1,660,040
Balance at Dec. 31, 2023 $ 13,708 $ 1,371   $ (1,755,921,317) (1,755,908,980) $ (6,859,801) (6,859,801) $ (1,762,767,410) (1,762,767,410) $ 660,221 660,221 $ (1,762,107,189) $ (1,762,107,189)
Balance (in Shares) at Dec. 31, 2023 137,077,382 137,077,382                                
Balance (in Shares) at Dec. 31, 2023       (6,454,199) (6,454,199)                           6,454,198
Issuances of vested restricted stock awards   $ 5     (5)              
Issuances of vested restricted stock awards (in Shares)   496,219     496,219                            
Net loss attributable to noncontrolling interest                   (121,820)   (121,820)
Options exercised   $ 4     48,696           48,700     48,700
Options exercised (in Shares)   436,074     436,074                            
Share-based compensation       12,136,815           12,136,815     12,136,815
Net income (loss) attributable to the Company             (12,430,245)     (12,430,245)     (12,430,245)
Preferred shares redemption value accretion       (12,185,506)       (1,075,522,307)     (1,087,707,813)     (1,087,707,813)
Foreign currency translation adjustment, net of $0 income taxes               (2,762,299)   (2,762,299)   (10,435)   (2,772,734)
Balance at Mar. 31, 2024   $ 1,380           (2,843,861,532)   (9,622,100)   (2,853,482,252)   527,966   (2,852,954,286)
Balance (in Shares) at Mar. 31, 2024   138,009,675                                
Balance (in Shares) at Mar. 31, 2024         (5,521,906)                            
Balance at Dec. 31, 2023 $ 13,708 $ 1,371   (1,755,921,317) (1,755,908,980) (6,859,801) (6,859,801) (1,762,767,410) (1,762,767,410) 660,221 660,221 (1,762,107,189) $ (1,762,107,189)
Balance (in Shares) at Dec. 31, 2023 137,077,382 137,077,382                                
Balance (in Shares) at Dec. 31, 2023       (6,454,199) (6,454,199)                           6,454,198
Net loss attributable to noncontrolling interest                                     $ (226,420)
Net income (loss) attributable to the Company                                     (24,005,787)
Foreign currency translation adjustment, net of $0 income taxes                                     (4,046,056)
Balance at Jun. 30, 2024   $ 1,393           (2,858,059,280)   (10,892,984)   (2,868,950,871)   420,928   (2,868,529,943)
Balance (in Shares) at Jun. 30, 2024   139,305,125                                
Balance (in Shares) at Jun. 30, 2024         (4,226,456)                            
Balance at Dec. 31, 2023 $ 13,708 $ 1,371   (1,755,921,317) (1,755,908,980) (6,859,801) (6,859,801) (1,762,767,410) (1,762,767,410) 660,221 660,221 (1,762,107,189) $ (1,762,107,189)
Balance (in Shares) at Dec. 31, 2023 137,077,382 137,077,382                                
Balance (in Shares) at Dec. 31, 2023       (6,454,199) (6,454,199)                           6,454,198
Issuances of vested restricted stock awards   $ 179       (179)            
Issuances of vested restricted stock awards (in Shares)   1,791,669     1,791,669                            
Net loss attributable to noncontrolling interest                   (488,504)   (488,504)
Increase in noncontrolling interest attributable to loan conversion                   1,196,037   1,196,037
Options exercised   $ 44       48,947         48,991     48,991
Options exercised (in Shares)   438,173     438,173                            
Share-based compensation         32,587,611         32,587,611     32,587,611
Net income (loss) attributable to the Company             (22,693,648)     (22,693,648)     (22,693,648)
Preferred shares redemption value accretion         (32,636,379)     (462,451,659)     (495,088,038)     (495,088,038)
Foreign currency translation adjustment, net of $0 income taxes               (8,336,145)   (8,336,145)   (94,666)   (8,430,811)
Balance at Dec. 31, 2024 $ 13,931 $ 1,393   (2,241,066,624) (2,241,054,086) (15,195,946) (15,195,946) (2,256,248,639) (2,256,248,639) 1,273,088 1,273,088 (2,254,975,551) $ (2,254,975,551)
Balance (in Shares) at Dec. 31, 2024 139,307,224 139,307,224                                
Balance (in Shares) at Dec. 31, 2024       (4,224,356) (4,224,356)                           4,224,356
Balance at Mar. 31, 2024   $ 1,380           (2,843,861,532)   (9,622,100)   (2,853,482,252)   527,966   $ (2,852,954,286)
Balance (in Shares) at Mar. 31, 2024   138,009,675                                
Balance (in Shares) at Mar. 31, 2024         (5,521,906)                            
Issuances of vested restricted stock awards   $ 13     (13)              
Issuances of vested restricted stock awards (in Shares)   1,295,450     1,295,450                            
Net loss attributable to noncontrolling interest                   (104,600)   (104,600)
Share-based compensation       8,474,119           8,474,119     8,474,119
Net income (loss) attributable to the Company             (11,575,542)     (11,575,542)     (11,575,542)
Preferred shares redemption value increase       (8,474,106)       (2,622,206)     (11,096,312)     (11,096,312)
Foreign currency translation adjustment, net of $0 income taxes               (1,270,884)   (1,270,884)   (2,438)   (1,273,322)
Balance at Jun. 30, 2024   $ 1,393           (2,858,059,280)   (10,892,984)   (2,868,950,871)   420,928   (2,868,529,943)
Balance (in Shares) at Jun. 30, 2024   139,305,125                                
Balance (in Shares) at Jun. 30, 2024         (4,226,456)                            
Balance at Dec. 31, 2024 $ 13,931 $ 1,393   (2,241,066,624) (2,241,054,086) (15,195,946) (15,195,946) (2,256,248,639) (2,256,248,639) 1,273,088 1,273,088 (2,254,975,551) $ (2,254,975,551)
Balance (in Shares) at Dec. 31, 2024 139,307,224 139,307,224                                
Balance (in Shares) at Dec. 31, 2024       (4,224,356) (4,224,356)                           4,224,356
Net loss attributable to noncontrolling interest                   (146,720)   $ (146,720)
Share-based compensation       8,069,045           8,069,045     8,069,045
Net income (loss) attributable to the Company             13,085,807     13,085,807     13,085,807
Preferred shares redemption value increase       (8,069,045)       (13,633,692)     (21,702,737)     (21,702,737)
Foreign currency translation adjustment, net of $0 income taxes               1,769,776   1,769,776   (28,127)   1,741,649
Balance at Mar. 31, 2025   $ 1,393           (2,241,601,971)   (13,426,170)   (2,255,026,748)   1,098,241   (2,253,928,507)
Balance (in Shares) at Mar. 31, 2025   139,307,224                                  
Balance (in Shares) at Mar. 31, 2025         (4,224,356)                            
Balance at Dec. 31, 2024 $ 13,931 $ 1,393   $ (2,241,066,624) (2,241,054,086) $ (15,195,946) (15,195,946) $ (2,256,248,639) (2,256,248,639) $ 1,273,088 1,273,088 $ (2,254,975,551) $ (2,254,975,551)
Balance (in Shares) at Dec. 31, 2024 139,307,224 139,307,224                                
Balance (in Shares) at Dec. 31, 2024       (4,224,356) (4,224,356)                           4,224,356
Net loss attributable to noncontrolling interest                                     $ (257,639)
Net income (loss) attributable to the Company                                     (15,188,220)
Foreign currency translation adjustment, net of $0 income taxes                                     10,954,020
Balance at Jun. 30, 2025   $ 4,012 $ 830     2,987,559,282       (2,231,782,461)   (4,226,213)   751,555,450   999,736   $ 752,555,186
Balance (in Shares) at Jun. 30, 2025   401,072,472 82,988,016                                
Balance (in Shares) at Jun. 30, 2025         (527,147)                           527,147
Balance at Mar. 31, 2025   $ 1,393           (2,241,601,971)   (13,426,170)   (2,255,026,748)   1,098,241   $ (2,253,928,507)
Balance (in Shares) at Mar. 31, 2025   139,307,224                                  
Balance (in Shares) at Mar. 31, 2025         (4,224,356)                            
Issuances of vested restricted stock awards   $ 37     (37)              
Issuances of vested restricted stock awards (in Shares)   3,697,209     3,697,209                            
Conversion of preferred shares to ordinary shares   $ 2,694     2,745,355,239           2,745,357,933     2,745,357,933
Conversion of preferred shares to ordinary shares (in Shares)   269,381,830                                  
Redesignation of ordinary shares   $ (830) $ 830                  
Redesignation of ordinary shares (in Shares)   (82,988,016) 82,988,016                                
Issuance of ordinary shares to SKGR shareholders   $ 59     (59)              
Issuance of ordinary shares to SKGR shareholders (in Shares)   5,852,239                                  
Issuance of ordinary shares to settle accounts payable   $ 1     1,442,999           1,443,000     1,443,000
Issuance of ordinary shares to settle accounts payable (in Shares)   100,000                                  
Private warrants exercised   $ 18     (18)              
Private warrants exercised (in Shares)   1,777,844                                  
Incentive warrants exercised   $ 205     204,539,245           204,539,450     204,539,450
Incentive warrants exercised (in Shares)   20,453,945                                  
Public warrants exercised   $ 8     9,252,938           9,252,946     9,252,946
Public warrants exercised (in Shares)   804,604                                  
Repurchase of preferred shares             38,093,537     38,093,537     38,093,537
Net loss attributable to noncontrolling interest                   (110,919)   (110,919)
Issuance of incentive shares to preferred shareholders   $ 427     (427)              
Issuance of incentive shares to preferred shareholders (in Shares)   42,685,593                                  
Share-based compensation       26,969,402           26,969,402     26,969,402
Net income (loss) attributable to the Company             (28,274,027)     (28,274,027)     (28,274,027)
Foreign currency translation adjustment, net of $0 income taxes               9,199,957   9,199,957   12,414   9,212,371
Balance at Jun. 30, 2025   $ 4,012 $ 830     $ 2,987,559,282       $ (2,231,782,461)   $ (4,226,213)   $ 751,555,450   $ 999,736   $ 752,555,186
Balance (in Shares) at Jun. 30, 2025   401,072,472 82,988,016                                
Balance (in Shares) at Jun. 30, 2025         (527,147)                           527,147