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Side-by-side financial comparison of Webull Corp (BULL) and PicoCELA Inc. (PCLA). Click either name above to swap in a different company.
PicoCELA Inc. is the larger business by last-quarter revenue ($252.6M vs $131.5M, roughly 1.9× Webull Corp). Webull Corp runs the higher net margin — -21.5% vs -125.2%, a 103.7% gap on every dollar of revenue. Webull Corp produced more free cash flow last quarter ($271.7M vs $-256.6M).
Webull Corporation, often stylized as simply Webull, is a US-based financial services holding company headquartered in St. Petersburg, Florida. It provides an electronic trading platform of the same name.
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
BULL vs PCLA — Head-to-Head
Income Statement — Q2 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $131.5M | $252.6M |
| Net Profit | $-28.3M | $-316.2M |
| Gross Margin | — | — |
| Operating Margin | -16.3% | -114.8% |
| Net Margin | -21.5% | -125.2% |
| Revenue YoY | 46.3% | — |
| Net Profit YoY | -144.3% | — |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 25 | $131.5M | — | ||
| Q1 25 | — | $252.6M | ||
| Q2 24 | $89.9M | — |
| Q2 25 | $-28.3M | — | ||
| Q1 25 | — | $-316.2M | ||
| Q2 24 | $-11.6M | — |
| Q2 25 | -16.3% | — | ||
| Q1 25 | — | -114.8% | ||
| Q2 24 | -11.4% | — |
| Q2 25 | -21.5% | — | ||
| Q1 25 | — | -125.2% | ||
| Q2 24 | -12.9% | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $476.7M | $456.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $751.6M | $354.8M |
| Total Assets | $2.6B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | $476.7M | — | ||
| Q1 25 | — | $456.8M | ||
| Q2 24 | — | — |
| Q2 25 | $751.6M | — | ||
| Q1 25 | — | $354.8M | ||
| Q2 24 | $-2.9B | — |
| Q2 25 | $2.6B | — | ||
| Q1 25 | — | $1.2B | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $272.1M | $-245.6M |
| Free Cash FlowOCF − Capex | $271.7M | $-256.6M |
| FCF MarginFCF / Revenue | 206.6% | -101.6% |
| Capex IntensityCapex / Revenue | 0.3% | 4.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 25 | $272.1M | — | ||
| Q1 25 | — | $-245.6M | ||
| Q2 24 | — | — |
| Q2 25 | $271.7M | — | ||
| Q1 25 | — | $-256.6M | ||
| Q2 24 | — | — |
| Q2 25 | 206.6% | — | ||
| Q1 25 | — | -101.6% | ||
| Q2 24 | — | — |
| Q2 25 | 0.3% | — | ||
| Q1 25 | — | 4.3% | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BULL
Segment breakdown not available.
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
