Overview
- Tickeron Indonesia Stock Exchange1
- Industryinfrastructure industry, transport1
- Websitewww.bull.co.id
- Listed onIndonesia Stock Exchange (BULL)1
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Equity Order Flow Rebates brought in 19% of the revenue Buana Lintas Lautan broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Equity Order Flow Rebates | $51.2M | $61.4M | $94.2M |
| Handling Charge Income | $30.7M | $49.0M | $87.3M |
| Customer Bank Deposits | $61.7M | $61.5M | $71.6M |
| Platform And Trading Fees | $2.4M | $20.7M | $59.7M |
| Margin Financing | $23.2M | $30.0M | $39.2M |
| Stock Lending | $56.1M | $26.1M | $28.5M |
| Options | $28.2M | $28.4M | $27.6M |
| Other Revenue | $10.9M | $13.7M | $25.3M |
| Other Revenues | $10.9M | $13.7M | $25.3M |
| Corporate Bank Deposits | $14.8M | $12.9M | $15.0M |
| Data Subscription Income | $6.8M | $7.2M | $8.0M |
| Nontrading Rebates | $5.6M |
Regions
United States brought in 93% of the revenue Buana Lintas Lautan broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $363.7M | $355.0M | $516.5M |
| SGMember | $5.6M | $10.9M | $13.2M |
| Other | $365.7K | $3.1M | $11.3M |
| Canada | $1.6M | $8.3M | |
| HKMember | $5.1M | $6.7M | $6.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development6¢$35.5M
- Other costs86¢$489.9M
- Income tax4¢$20.8M
- Profit4¢$24.8M
Out of $571.0M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending1¢$4.9M
- Kept or used elsewhere99¢$561.5M
Out of $566.4M of cash from operations.3
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $571.0M | $390.2M | $389.6M |
| Brokerage and transaction | $128.7M | $79.3M | $66.4M |
| Technology and development | $79.2M | $63.8M | $52.2M |
| Marketing and branding | $135.9M | $138.7M | $152.3M |
| General and administrative | $168.6M | $122.7M | $95.8M |
| Total operating expenses | $512.5M | $404.6M | $366.6M |
| Other expense (income), net | $13.3M | -$2.3M | $2.8M |
| Income (loss) from continuing operations, before income taxes | $45.2M | -$12.1M | $20.2M |
| Provision for income taxes | $20.8M | $13.8M | $16.1M |
| Income from discontinued operations, net of tax (Note 5) | $2.7M | $1.8M | |
| Net income (loss) | $24.4M | -$23.2M | $5.8M |
| Less net loss attributable to noncontrolling interest (Note 6) | -$404.7K | -$488.5K | -$247.3K |
| Net income (loss) attributable to the Company | $24.8M | -$22.7M | $6.1M |
| Preferred shares redemption value accretion | -$21.7M | -$495.1M | -$340.1M |
| Fair value of ordinary share warrants issued to preferred shareholders | -$15.6M | ||
| Net loss attributable to ordinary shareholders | -$487.5M | -$517.8M | -$334.0M |
| Income (loss) from continuing operations, net of tax | $24.4M | -$25.9M | $4.0M |
| Less loss from continuing operations attributable to noncontrolling interest | -$404.7K | -$488.5K | -$247.3K |
| Income (loss) from continuing operations attributable to the Company | $24.8M | -$25.4M | $4.3M |
| Fair value of ordinary shares issued to preferred shareholders | -$513.1M | ||
| Excess carrying value of preferred shares repurchased | $38.1M | ||
| Loss from continuing operations attributable to ordinary shareholders | -$487.5M | -$520.5M | -$335.8M |
| Income from discontinued operations attributable to ordinary shareholders | $2.7M | $1.8M | |
| Basic (in Dollars per share) | -$1 | -$4 | -$2 |
| Diluted (in Dollars per share) | -$1 | -$4 | -$2 |
| Basic (in Dollars per share) | $0 | $0 | |
| Diluted (in Dollars per share) | $0 | $0 | |
| Basic (in Dollars per share) | -$1.23 | -$3.73 | -$2.42 |
| Diluted (in Dollars per share) | -$1.23 | -$3.73 | -$2.42 |
| Basic (in Shares) | 397.0M shares | 138.8M shares | 138.0M shares |
| Diluted (in Shares) | 397.0M shares | 138.8M shares | 138.0M shares |
| Change in cumulative foreign currency translation adjustment | $16.7M | -$8.4M | $1.7M |
| Other comprehensive income (loss) | $16.7M | -$8.4M | $1.7M |
| Comprehensive income (loss) | $41.1M | -$31.6M | $7.5M |
| Less comprehensive loss attributable to noncontrolling interest | -$404.7K | -$488.5K | -$247.3K |
| Less foreign currency translation adjustment attributable to noncontrolling interest | -$29.0K | -$94.7K | -$2.7K |
| Preferred shares redemption value accretion | -$21.7M | -$495.1M | -$340.1M |
| Fair value of ordinary shares issued to preferred shareholders | -$513.1M | ||
| Fair value of ordinary share warrants issued to preferred shareholders | -$15.6M | ||
| Excess carrying value of preferred shares repurchased | $38.1M | ||
| Comprehensive (loss) income attributable to ordinary shareholders | -$470.8M | -$526.1M | -$332.3M |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $653.2M | $270.7M | |
| Cash and cash equivalents segregated under federal and foreign requirements | $1.5B | $939.2M | |
| Receivables from brokers, dealers, and clearing organizations | $563.0M | $262.1M | |
| Receivables from customers, net | $708.8M | $301.1M | |
| Prepaid expenses and other current assets | $50.2M | $50.3M | |
| Customer-held fractional shares | $172.3M | $108.3M | |
| Total current assets | $3.7B | $1.9B | |
| Right-of-use assets | $64.4M | $66.3M | |
| Property and equipment, net | $35.9M | $33.6M | |
| Intangible assets, net | $55.4M | $19.4M | |
| Goodwill | $30.3M | $5.2M | $5.2M |
| Deferred tax assets | $9.3M | $12.4M | |
| Other non-current assets | $1.0M | ||
| Total non-current assets | $196.3M | $136.9M | |
| Total assets | $3.9B | $2.1B | |
| Payables due to customers | $2.7B | $1.4B | |
| Payables due to brokers, dealers, and clearing organizations | $3.5M | $1.5M | |
| Lease liabilities - current portion | $3.6M | $5.0M | |
| Accounts payable and other accrued expenses | $102.2M | $61.1M | |
| Total current liabilities | $2.8B | $1.4B | |
| Lease liabilities - non-current portion | $8.9M | $10.4M | |
| Unsecured promissory notes | $65.0M | ||
| Deferred tax liabilities | $13.4M | $5.3M | |
| Total non-current liabilities | $87.3M | $15.7M | |
| Total liabilities | $2.9B | $1.5B | |
| Total mezzanine equity | $2.9B | ||
| Additional paid in capital | $3.2B | ||
| Accumulated deficit | -$2.2B | -$2.2B | |
| Accumulated other comprehensive income (loss) | $1.5M | -$15.2M | |
| Total shareholders equity (deficit) | $1.0B | -$2.3B | |
| Noncontrolling interest | $187.2K | $1.3M | $660.2K |
| Total equity (deficit) | $1.0B | -$2.3B | -$1.8B |
| Total liabilities, mezzanine equity, and total equity (deficit) | $3.9B | $2.1B | |
| Treasury shares (in Shares) | 1.1M shares | 4.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $24.4M | -$23.2M | $5.8M |
| Deferred tax expense | $3.0M | -$7.7M | -$1.1M |
| Depreciation and amortization | $3.2M | $3.5M | $2.8M |
| Gain from step-acquisition of Webull Pay | -$15.5M | ||
| Provision for contingent liabilities | $3.1M | $1.2M | $326.7K |
| Provision for expected credit losses | $1.5M | $332.1K | |
| Share-based compensation | $43.9M | $32.6M | $29.4M |
| Unrealized foreign exchange gain | -$280.5K | -$419.8K | $14.3K |
| Write-off of deferred equity offering costs | $7.6M | ||
| Net receivables from brokers, dealers and clearing organizations | -$281.5M | -$202.1M | -$26.0M |
| Net customer receivables and customer payables | $806.3M | $466.7M | $545.6M |
| Customer-held fractional shares | -$64.1M | -$62.7M | -$45.0M |
| Prepaid expenses and other current assets | -$3.1M | $17.1M | -$27.6M |
| Operating lease right-of-use assets | $1.9M | -$54.4M | -$819.9K |
| Accrued expenses and other current liabilities | $38.8M | $12.0M | -$13.8M |
| Operating lease liabilities-current | -$1.4M | $1.5M | $963.1K |
| Operating lease liabilities-non-current | -$1.5M | $847.9K | -$33.5K |
| Net cash provided by operating activities | $566.4M | $185.2M | $470.6M |
| Cash received from business combination, net of cash paid | $51.4M | ||
| Cash paid for acquisition, net of cash acquired | -$5.5M | ||
| Investment in limited liability company units | -$1.0M | ||
| Purchase of property and equipment and intangible assets | -$4.9M | -$2.4M | -$4.5M |
| Net cash provided by (used in) investing activities | $45.5M | -$2.4M | -$10.0M |
| Proceeds from exercise of options | $2.8M | $49.0K | |
| Proceeds from incentive warrants exercised | $204.5M | ||
| Proceeds from public warrants exercised | $9.3M | ||
| Proceeds from sale of ordinary shares | $172.7M | ||
| Proceeds from sale of preferred shares | $40.3M | $20.0M | |
| Borrowing from revolving credit agreement | $30.0M | $5.0M | |
| Principal payments made on revolving credit agreement | -$30.0M | -$5.0M | |
| Principal payments made on insurance premium financing agreement | -$2.2M | ||
| Principal payments made on unsecured promissory notes | -$35.0M | ||
| Purchase of treasury shares | -$20.0M | ||
| Proceeds from sale of treasury shares | $21.6M | ||
| Purchase of additional shares from noncontrolling interest | -$1.7M | ||
| Spin-off of subsidiary to shareholders | -$7.2M | ||
| Net cash provided by financing activities | $352.1M | $40.3M | $12.8M |
| Net increase in cash, cash equivalents, segregated cash, and cash of discontinued operations | $964.0M | $223.1M | $473.4M |
| Effective of exchange rate changes | $16.3M | -$7.3M | $2.5M |
Timeline
- May 23, 2011Went public Listed on Indonesia Stock Exchange1
Links
- Websitewww.bull.co.id1
- WikidataQ96100142
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataBuana Lintas Lautan on Wikidata
- 2Company websiteBuana Lintas Lautan logo
- 3
- 4