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Webull Reports Second Quarter 2026 Financial Results

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Webull reports another strong quarter of growth, marked by record trading volumes, increased customer assets, and strong net deposits. Webull continues to invest in strategic priorities, including enhanced offerings for its active traders, international expansion, and building its institutional business.

ST. PETERSBURG, Fla., Aug. 19, 2026 /PRNewswire/ — Webull Corporation (NASDAQ: BULL) (“Webull” or the “Company”) today announced financial and operating results for the second quarter ended June 30, 2026.

“I’m proud to report a record second quarter for Webull, highlighted by our successful implementation of updated active trader functionality following the June 4 elimination of the Pattern Day Trader Rule,” said Anthony Denier, Group President and U.S. CEO. “Webull’s advanced technology platform enabled eligible customers to fully leverage the new trading environment from day one, contributing to record trading volumes and strong customer engagement. We also made significant progress in executing on our 2026 roadmap, including expanding our AI capabilities with the launch of Vega Analyst, extending our global footprint, and scaling our institutional business. We believe these investments are strengthening Webull’s position as a leading platform for active traders seeking access to investment opportunities across global markets and asset classes.”

“Q2 was the best quarter in Webull’s history, with record revenue of $198.8 million, up 51% year-over-year and 24% sequentially,” said H.C. Wang, Chief Financial Officer of Webull. “Adjusted operating profit reached $62.6 million, representing a 31.5% operating margin, while adjusted net income was $43.2 million. These results demonstrate the operating leverage inherent in our platform and the potential for further margin expansion.”

Second Quarter Results

Financial Results                                                                                                                                

Total revenues increased 51% year-over-year to $198.8 million.Trading-related revenue increased 66% year-over-year to $147.7 million.Total operating expenses increased 13% year-over-year, primarily driven by higher brokerage and transaction costs associated with rapid growth in trading volumes as well as product expansion, offset by lower share-based compensation expense.Adjusted operating expenses increased 26% year-over-year to $136.2 million.Income before income taxes totaled $34.7 million for the quarter, compared to a loss before taxes of $21.4 million for the prior year comparative quarter. The increase of $56.1 million in income was primarily due to total revenues growing 51%, which outpaced the 13% increase in total operating expenses.Adjusted operating profit totaled $62.6 million for the quarter, compared to $23.3 million for the prior year comparative quarter.Adjusted operating profit per share – basic and diluted was $0.12, compared with a basic and diluted adjusted operating profit per share of $0.05 in the prior year comparative quarter.Net income attributable to the Company was $24.4 million for the quarter, compared to a net loss of $28.3 million for the prior year comparative quarter.Adjusted net income increased to $43.2 million for the quarter, compared to $15.4 million for the prior year comparative quarter.Net income per ordinary share – basic and diluted was $0.05 and $0.04 per share, respectively, compared to basic and diluted loss per ordinary share of $1.20 per share for the prior year comparative quarter.Share Repurchase Program – During the quarter, the Company repurchased and cancelled 1,820,788 Class A ordinary shares at an average repurchase price of $6.03.

Operating Results

Customer assets (AUM) totaled $28.5 billion, representing 79% year-over-year growth, driven by net deposits which grew 7% year-over-year.Registered users increased 13% year-over-year to 28.2 million users.Funded accounts increased to 5.13 million, representing 8% year-over-year growth.Equity notional volume grew to $279 billion, representing a 73% year-over-year increase and an increase of 7% from the previous quarter.Options contracts volume grew to 213 million, a 68% year-over-year increase and an increase of 34% from the previous quarter.DARTs increased to 1.6 million, representing 62% year-over-year growth.

Company Highlights

Successfully implemented updated active trader functionality for all eligible customers following the elimination of the Pattern Day Trader Rule, contributing to record quarterly trading volumes.Vega AI added approximately 160,000 new users during the quarter, bringing total active users to approximately 480,000.Expanded Model Context Protocol (“MCP”) to support natural-language research, tool-building and trade execution through leading AI models.Introduced paper trading capabilities to achieve parity with live trading across asset classes, providing users with the ability to test and refine trading strategies.Continued international expansion with the launch of Webull in Spain, Argentina, and Colombia. Webull is now licensed across 35 markets globally and operates trading activities in 18 markets.International funded accounts grew to approximately 810,000.Announced the acquisition of Pi Securities in Thailand, expanding Webull’s presence in Asia-Pacific where customer assets now exceed $5 billion.Expanded Webull’s B2B offering with access to futures and prediction markets, and partnered with Monark Markets to provide accredited investors access to late-stage private companies through special purpose vehicles.

Conference Call Information 

Webull will host a conference call to discuss its results at 5:00 p.m. E.T. today, August 19, 2026. The conference call can be accessed at https://event.choruscall.com/mediaframe/webcast.html?webcastid=y93ulpXT or participants may dial 1-844-744-1431 (U.S.) or 1-412-564-6518 (international).

Following the call, a replay and transcript will be available on the Company’s website at www.webullcorp.com/investor-relations, as well as the earnings press release and accompanying slide presentation.

About Webull Corporation 

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure and AI technologies. Through its global network of licensed brokerages, Webull offers investment services in 18 markets across North America, Asia Pacific, Europe, Africa, and Latin America. Webull serves more than 28 million registered users globally, providing retail and institutional investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through Webull’s trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at www.webullcorp.com. You may also access certain information on Webull and its securities on the website of the U.S. Securities and Exchange Commission (the “SEC”) at http://www.sec.gov, where Webull will, among others, be filing reports, such as Reports on Form 6-K and its Annual Report on Form 20-F.

Contacts

For Investors
ir@webullcorp.com 

For Media
5W Public Relations
Nicholas Koulermos
Webull@5wpr.com
(212) 999-5585

Use of Non-GAAP Financial Measures

We use adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses, all of which are non-GAAP financial measures, to evaluate our operating results and for financial and operational decision-making purposes. Adjusted operating profit represents income from continuing operations, before income taxes, excluding share-based compensation expenses, one-time transactions, and other expense (income), net. Adjusted operating profit per share represents adjusted operating profit divided by our weighted average shares outstanding on a basic and diluted basis. Adjusted net income represents net income attributable to the Company, excluding share-based compensation expenses, foreign currency transaction gains and losses, and one-time transactions. Adjusted operating expenses represent total operating expenses, excluding share-based compensation expenses and one-time transactions.

We believe that adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in income before income taxes, net income, and total operating expenses. We believe that adjusted operating profit, adjusted net income, and adjusted operating expenses provide useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses should not be considered in isolation or construed as an alternative to income before income taxes, earnings per share, net income attributable to the Company, and total operating expenses or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to compare the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted operating profit, adjusted operating profit per share, adjusted net income, and adjusted operating expenses presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Quarterly Reconciliations of Non-GAAP and GAAP Financial Measures” set forth at the end of this press release.

Definitions

“Customer assets” refer to the sum of the fair value of all equities, ETFs, options, warrants, futures, digital assets and cash held by customers in their Webull brokerage accounts, net of customer margin balances, as of the record date. While customer assets are significantly impacted by mark-to-market valuations of customers’ investments and digital holdings, we consider customer assets an important metric as growth in customer assets generally leads to an increase in trading volumes and revenue.

“DARTs” refer to daily average revenue trades, which is the number of customer trades executed during a given period divided by the number of trading days in that period. DARTs provide us information on how active our customers trade.  A limitation of this metric is that it does not capture the size of the trade and revenue per trade varies significantly depending on size and type of trades.

“Equity notional volume” refers to the aggregate dollar value (purchase price or sale price as applicable) of trades executed over a specified period of time. Equity notional volume directly drives our equities trading revenue, as we earn payment for order flow or commissions for customers’ equities trades based on a percentage of notional value. However, equity notional volume is highly sensitive to market conditions in the short-term which makes predicting our equity trading revenue with precision difficult.

“Funded accounts” refer to Webull brokerage accounts into which the customer has made an initial deposit or money transfer, of any amount, whose account balance (which is measured as the fair value of assets in the customer’s account less the amount due from the customer) has not dropped to or below zero for 45 consecutive calendar days as of the record date. Funded accounts reflect unique customers, and multiple funded accounts by a single customer are counted as one funded account. Growth in our funded accounts provides insight as to the effectiveness of our marketing efforts and our ability to acquire monetizable customers. Funded accounts are positively correlated with, but are not determinative, of customer assets, trading volumes, and revenue.

“Options contracts volume” refers to the total number of options contracts bought or sold over a specified period of time. Options contracts volume directly drives our options trading revenue, as we earn payment for order flow or commissions for customers’ options trades on a per contract basis. However, options contracts volume is highly sensitive to market conditions in the short-term, which makes predicting our options trading revenue with precision difficult.

“Registered users” refer to those users who have registered on our platform but not necessarily have opened a brokerage account with one of our licensed broker-dealers. Growth in our registered users provides insight as to the popularity of the Webull App. While we do not generate revenue from registered users who do not have brokerage accounts with us, registering an account on the Webull App is the first step toward opening and funding a brokerage account with us.

 

 

Webull Corporation

Condensed Consolidated Statements of Financial Position

June 30, 2026

December 31,
2025

(Unaudited)

Assets

Cash and cash equivalents

$

701,621,304

$

653,188,906

Cash and cash equivalents segregated under federal and foreign requirements

1,224,069,199

1,537,119,275

Receivables from brokers, dealers, and clearing organizations

701,369,826

562,961,145

Receivables from customers, net

1,011,784,680

708,785,550

Prepaid expenses and other current assets

60,814,415

50,208,272

Customer-held fractional shares

223,802,727

172,309,953

Total current assets

3,923,462,151

3,684,573,101

Right-of-use assets

64,014,634

64,357,655

Property and equipment, net

41,473,511

35,894,855

Intangible assets, net

54,269,690

55,434,567

Goodwill

25,066,700

30,264,138

Deferred tax assets

3,450,909

9,346,987

Other non-current assets

1,000,000

1,000,000

Total non-current assets

189,275,444

196,298,202

Total assets

$

4,112,737,595

$

3,880,871,303

Liabilities and shareholders’ equity

Payables due to customers

$

2,877,895,236

$

2,667,837,626

Payables due to brokers, dealers, and clearing organizations

1,632,515

3,481,115

Lease liabilities – current portion

3,497,320

3,611,195

Accounts payable and other accrued expenses

97,610,615

102,183,377

Revolving credit facility

17,611,040

–

Unsecured promissory notes

50,000,000

–

Total current liabilities

3,048,246,726

2,777,113,313

Lease liabilities – non-current portion

7,624,608

8,911,821

Unsecured promissory notes

–

65,000,000

Deferred tax liabilities

13,193,834

13,366,222

Total non-current liabilities

20,818,442

87,278,043

Total liabilities

3,069,065,168

2,864,391,356

Commitments and Contingencies

–

–

Shareholders’ equity

Class A ordinary shares ($0.00001 par value; 4,000,000,000 shares authorized,
446,769,891 and 445,905,406 shares issued and outstanding as of June 30, 2026,
respectively; and 440,715,769 and 439,591,284 shares issued and outstanding as
of December 31, 2025, respectively)

4,459

4,396

Class B ordinary shares ($0.00001 par value, 1,000,000,000 shares authorized,
83,859,005 shares issued and outstanding as of June 30, 2026 and December 31,
2025)

839

839

Treasury shares (864,485 and 1,124,485 shares as of June 30, 2026 and December
31, 2025, respectively)

–

–

Additional paid in capital

3,207,257,664

3,192,952,827

Accumulated deficit

(2,175,548,251)

(2,178,189,845)

Accumulated other comprehensive income

11,817,455

1,524,496

Total shareholders’ equity

1,043,532,166

1,016,292,713

Noncontrolling interest

140,261

187,234

Total equity

1,043,672,427

1,016,479,947

Total liabilities and total equity

$

4,112,737,595

$

3,880,871,303

 

 

Webull Corporation

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

For the Three Months Ended June
30,

For the Six Months Ended June
30,

2026

2025

2026

2025

Revenues

Equity and option order flow rebates

$

112,961,852

$

68,688,838

$

197,354,691

$

132,800,020

Interest related income

42,752,379

36,286,533

82,802,757

67,426,597

Handling charge income

34,780,092

20,105,503

61,192,834

37,652,513

Other revenues

8,336,757

6,412,476

17,408,814

10,983,055

Total revenues

198,831,080

131,493,350

358,759,096

248,862,185

Operating expenses

Brokerage and transaction

44,348,662

34,800,716

82,741,802

58,046,172

Technology and development

22,157,376

19,140,449

46,018,198

36,065,341

Marketing and branding

35,046,209

30,300,834

84,457,375

53,291,872

General and administrative

51,823,929

50,976,724

102,465,372

84,597,444

Total operating expenses

153,376,176

135,218,723

315,682,747

232,000,829

Other expense, net

10,768,430

17,659,796

21,200,591

18,749,213

Income (loss) before income taxes

34,686,474

(21,385,169)

21,875,758

(1,887,857)

Provision for income taxes

10,343,085

6,999,777

19,270,241

13,558,002

Net income (loss)

24,343,389

(28,384,946)

2,605,517

(15,445,859)

Less net loss attributable to noncontrolling interest

(20,935)

(110,919)

(36,077)

(257,639)

Net income (loss) attributable to the Company

24,364,324

(28,274,027)

2,641,594

(15,188,220)

Preferred shares redemption value accretion

–

–

–

(21,702,737)

Fair value of ordinary shares issued to
preferred shareholders

–

(513,080,828)

–

(513,080,828)

Fair value of ordinary share warrants issued to
preferred shareholders

–

(15,600,000)

–

(15,600,000)

Excess carrying value of preferred shares repurchased

–

38,093,537

–

38,093,537

Net income (loss) attributable to ordinary
shareholders

$

24,364,324

$

(518,861,318)

$

2,641,594

$

(527,478,248)

Net income (loss) per share attributable to ordinary
shareholders

Basic

$

0.05

$

(1.20)

$

0.00

$

(1.84)

Diluted

$

0.04

$

(1.20)

$

0.00

$

(1.84)

Weighted-average shares outstanding

Basic

530,642,516

431,390,035

528,397,409

286,155,488

Diluted

542,622,870

431,390,035

543,513,592

286,155,488

Net income (loss)

$

24,343,389

$

(28,384,946)

$

2,605,517

$

(15,445,859)

Other comprehensive income, net of tax:

Change in cumulative foreign currency translation
adjustment

4,603,428

9,212,371

10,282,063

10,954,020

Other comprehensive income

4,603,428

9,212,371

10,282,063

10,954,020

Comprehensive income (loss)

28,946,817

(19,172,575)

12,887,580

(4,491,839)

Less comprehensive loss attributable to noncontrolling
interest

(20,935)

(110,919)

(36,077)

(257,639)

Less foreign currency translation adjustment
attributable to noncontrolling interest

(6,894)

12,414

(10,896)

(15,713)

Preferred shares redemption value accretion

–

–

–

(21,702,737)

Fair value of ordinary shares issued to
preferred shareholders

–

(513,080,828)

–

(513,080,828)

Fair value of ordinary share warrants issued to 
preferred shareholders

–

(15,600,000)

–

(15,600,000)

Excess carrying value of preferred shares repurchased

–

38,093,537

–

38,093,537

Comprehensive income (loss) attributable to
   ordinary shareholders

$

28,974,646

$

(509,661,361)

$

12,934,553

$

(516,508,515)

 

 

Webull Corporation
Unaudited Quarterly Reconciliation of Non-GAAP and GAAP Financial Measures

Adjusted Operating Expenses Reconciliation

(Unaudited)

For the Three Months Ended
June 30,

For the Six Months Ended
June 30,

2025

2026

2025

2026

Total operating expenses (GAAP)

$

135,218,723

$

153,376,176

$

232,000,829

$

315,682,747

Less: Share-based compensation

26,969,402

17,135,196

35,038,447

34,336,772

Adjusted operating expenses (Non-
GAAP)

$

108,249,321

$

136,240,980

$

196,962,382

$

281,345,975

 

 

Adjusted Operating Profit Reconciliation

(Unaudited)

For the Three Months Ended
June 30,

For the Six Months Ended
June 30,

2025

2026

2025

2026

Income (loss) before income taxes

$

(21,385,169)

$

34,686,474

$

(1,887,857)

$

21,875,758

Add: Other expense (income), net

17,659,796

10,768,430

18,749,213

21,200,591

Add: Share-based compensation

26,969,402

17,135,196

35,038,447

34,336,772

Adjusted operating profit (Non-GAAP)

$

23,244,029

$

62,590,100

$

51,899,803

$

77,413,121

Adjusted operating profit per share
   (Non-GAAP) – basic

$

0.05

$

0.12

$

0.18

$

0.15

Adjusted operating profit per share
   (Non-GAAP) – diluted

$

0.05

$

0.12

$

0.16

$

0.14

Weighted-average shares outstanding –
   basic

431,390,035

530,642,516

286,155,488

528,397,409

Weighted-average shares outstanding –
   diluted

473,431,087

542,622,870

325,521,525

543,513,592

 

 

Adjusted Net Income Reconciliation

(Unaudited)

For the Three Months Ended
June 30,

For the Six Months Ended
June 30,

2025

2026

2025

2026

Net income (loss) attributable to the
   Company (GAAP)

$

(28,274,027)

$

24,364,324

$

(15,188,220)

$

2,641,594

Add: Share-based compensation

26,969,402

17,135,196

35,038,447

34,336,772

Add: Deferred tax impact of officer
   stock compensation and other items

–

(2,192,461)

–

5,845,761

Add: Foreign currency transaction losses
   (gains)

5,740,232

3,854,895

5,843,939

9,573,592

Add: Equity Offering Costs

10,976,693

–

10,976,693

–

Adjusted net income (Non-GAAP)

$

15,412,300

$

43,161,954

$

36,670,859

$

52,397,719

 

Contra Revenue Impact 

Most of our platform users are not considered customers under ASC 606, Revenues from Contracts with Customers (“ASC 606”), and promotional payments made to these platform users are accounted for as a marketing and branding expense. Conversely, for our platform users who have been determined to be customers under ASC 606, we account for these promotional payments as a reduction in revenue (i.e., “contra revenue”). The following presents how contra revenue impacted our revenues.

Quarterly Impact:

For the Three Months Ended
June 30,

For the Six Months Ended
June 30,

2025

2026

2025

2026

Contra revenue impact on:

Option handling fees

$

(1,440,872)

$

(4,196,056)

$

(1,559,413)

$

(8,189,029)

Platform and trading fees

(3,219,590)

(7,670,054)

(5,925,705)

(16,355,583)

Other income

(427,442)

(549,824)

(427,442)

(1,516,700)

Total contra revenue

$

(5,087,904)

$

(12,415,934)

$

(7,912,560)

$

(26,061,312)

 

Statement Regarding Unaudited Financial and Operational Information

The unaudited financial and operational information included in this press release is subject to potential adjustments and is based on the information available to management at this time. Potential adjustments to operational and consolidated financial information may be identified from work performed during Webull’s preparation of financial statements subsequent hereto or its year-end audit. Information may also be presented differently from the information included herein in the future. This could result in significant differences from the unaudited or other historical operational and financial information included herein.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release or other statements of the Company made in connection herewith, including, for instance, statements as to business strategy and plans, future results of operations and financial position, planned products and services, objectives of management for future operations or strategies of the Company, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,” “suggests,” “plan,” “believe,” “predict,” “potential,” “seek,” “future,” “propose,” “continue,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology.

All forward-looking statements are based upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and its management as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company and its management and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of the Company to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers, and retain its management and key employees; (2) the reliance of key functions of the Company’s business on third-parties and the risk that the Company’s platform and systems rely on software and applications that are highly technical and may contain undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3) the risks associated with the Company’s global operations and continued global expansion, including, but not limited to, the risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require adverse changes to the Company’s business practices; (4) the Company’s estimates of expenses and costs, of profitability or of other operational and financial metrics as well as the Company’s expectations regarding demand for and market acceptance of its products and service; (5) the Company’s reliance on trading related income, including payment for order flow (“PFOF”), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company’s exposure to fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets and their respective trading volumes; (7) the Company’s reliance on a limited number of market makers and liquidity providers to generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers; (8) the effects of competition in the Company’s industry and the Company’s need to constantly innovate and invest in new markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business; (10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates; (11) risk of further actions taken by various government bodies in the United States that have made the Company the subject of inquiries and investigations relating to concerns about our connections to China; (12) the risk that the failure to protect customer data and privacy or to prevent security breaches relating to the Company’s platform could result in economic loss, damage to its reputation, deter customers from using its products and services, and expose it to legal penalties and liability; (13) the risks associated with incorporating artificial intelligence technologies into certain of our products and processes, including potential regulatory, operational, reputational, or compliance challenges; (14) risks related to the Company’s need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and self-regulatory organizations; (15) the ability to meet, or continue to meet, stock exchange listing standards; (16) the possibility of adverse developments in pending or new litigation and regulatory investigations; (17) risks relating to our offering of event contracts or prediction market products in the United States, including potential changes in regulatory interpretations or enforcement priorities; (18) risks related to significant disruptions in the cryptocurrency market that negatively impacts user engagement with cryptocurrency trading on our platform; (19) political, regulatory or economic changes that affect cryptocurrencies, including changes in the governance of a cryptocurrency; (20) risks related to the offer and resale of our securities, such as dilution from the issuance of additional Class A ordinary shares upon the exercise of warrants, and increased volatility, or significant declines, in the price of our securities based on increased trading activity and the perception that sales of our securities may occur; (21) risks relating to the Company’s share repurchase program under which the Company may repurchase up to $100 million of its Class A ordinary shares, including that the program may be suspended, modified or discontinued at any time, and that the actual amount, timing and manner of any repurchases will depend on market conditions, share price, applicable legal requirements, contractual restrictions and other factors; and (22) other risks and uncertainties that are more fully described in filings made, or to be made, by the Company with the SEC, including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the SEC, such as the Company’s Annual Report on Form 20-F filed with the SEC on April 9, 2026. The foregoing list of factors is not exhaustive. Reported results should not be considered an indication of future performance. There may be additional risks that the Company and its management presently do not know about or that the Company and its management currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. The Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

 

 

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Industrial AI, Saudi Scale: OrbitronAI and Aramco Digital Partner to Unlock Billions

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Partnership signed at LEAP 2026 will develop and commercialize industrial-grade AI agents targeting capital productivity, supply chain performance and operational execution

RIYADH, Saudi Arabia, Oct. 7, 2026 /PRNewswire/ — OrbitronAI and Aramco Digital have formed a strategic commercial partnership to develop, deploy and commercialize industrial-grade agentic AI solutions focused on industrial value recovery across asset-intensive industries. The agreement was signed in early September at LEAP 2026 in Riyadh.

The partnership combines OrbitronAI’s industrial-grade agentic AI technology and domain-led delivery model with Aramco Digital’s industrial knowledge, operating scale and market reach. The companies will target multibillion-dollar value pools in areas including capital productivity, supply chain performance and operational execution, where fragmented information, complex workflows and delayed decisions can materially affect financial performance.

In capital-intensive environments, delays in reviews, reconciliation and decision-making can affect schedule, cost and returns on invested capital. In supply chains, limited visibility across materials, suppliers and logistics can increase cost, tie up working capital and disrupt operations. OrbitronAI’s technology is built for these environments. It works across structured and unstructured industrial information, connects with enterprise systems and combines agentic reasoning with deterministic execution, while critical calculations, controls and approvals remain governed and subject to human oversight.

“Together with Aramco Digital, we are building a repeatable model for industrial value recovery: take a high-value industrial process, embed industrial-grade agents into the workflow, recover the value and turn what works into a product that can scale across the industry.”

— Saulius Adomaitis, Co-Founder and CEO, OrbitronAI

“Aramco Digital is focused on areas where our industrial knowledge, scale and data create a clear advantage. Capital projects, supply chain and other asset-intensive processes represent major opportunities to improve execution and create economic value. Through our partnership with OrbitronAI, we intend to convert that industrial advantage into scalable AI products for Aramco, our affiliates and the wider industrial market.”

— Ashraf Tahini, CEO, Aramco Digital

Successful capabilities developed through the partnership will be designed for reuse across similar industrial processes, creating a path to commercialization across Saudi Arabia and selected international markets.

OrbitronAI’s founding team combines industrial operating and technology experience. Luvy Singh, Co-Founder and Chief Business Officer, previously led supply chain at Shell and was a partner at EY. Ashu Gupta, Co-Founder and Chief AI Officer, was a founding CTO at a leading fintech company, while Poonam Gupta, Co-Founder and CTO, leads the engineering of OrbitronAI’s industrial-grade agentic AI platform.

###

About OrbitronAI

OrbitronAI builds secure, industry-specific AI systems for enterprises running complex operations. At its core is NovaOS, a proprietary agentic operating layer that connects existing enterprise systems, orchestrates AI workflows and provides the governance, oversight and auditability needed to deploy AI agents safely at scale. OrbitronAI works mainly with aviation, transport, energy and infrastructure organizations. It supports critical functions including supply chain, compliance, asset maintenance, sales and marketing, and helps clients reduce manual work, make better decisions and manage operational risk. With more than 50 people across five global offices, the company combines deep industry expertise with advanced AI engineering. OrbitronAI is ISO 27001 certified and SOC 2 compliant.

Learn more at www.orbitronai.com

Media Contact

Vilma Vaitiekunaite
GM, OrbitronAI KSA
E  vilma.vaitiekunaite@orbitronai.com
T  +966 56 778 9790

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Rose Brand Acquires IWEISS, Bringing Together Complementary Expertise for the Future of Live Entertainment

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Rose Brand today announced that it has entered into an agreement to acquire IWEISS, bringing together two highly respected companies with decades of experience serving the entertainment, performing arts, event, and architectural markets.

SECAUCUS, N.J., Oct. 7, 2026 /PRNewswire-PRWeb/ — For generations, Rose Brand and IWEISS have earned the trust of customers through craftsmanship, technical expertise, and responsive service. While the two organizations have often competed, they have always shared a deep respect for one another and a common commitment to helping customers solve increasingly complex production challenges.

“Our focus has always been on helping customers bring their ideas to life”

The combination brings together complementary expertise across custom theatrical fabrics, sewing and fabrication, rigging systems, curtain track solutions, automation, installation services, and the broader capabilities already offered through ADC. Together, the organizations are better positioned to support customers as productions, venues, and projects continue to evolve.

“Our focus has always been on helping customers bring their ideas to life,” said Josh Jacobstein, President of Rose Brand. “By bringing together the strengths of Rose Brand and IWEISS, we’re better positioned to support our customers with broader expertise while preserving the craftsmanship, responsiveness, and trusted relationships that have defined both organizations for decades.”

Jennifer Tankleff, President of IWEISS, added:

“For more than a century, IWEISS has built its reputation on craftsmanship, technical expertise, and taking on complex and unique projects. I’m incredibly proud of what we’ve built and the relationships we’ve developed along the way. Joining Rose Brand gives us the opportunity to build on that legacy, expand what we can offer, and continue serving our customers with even greater resources and capabilities.”

Together, all of our customers will have access to a combined range of products and technical expertise, and more importantly, experienced, talented people who understand how those pieces work together. Existing projects, commitments, and day-to-day operations will continue as usual while the organizations plan for the future together.

The combination reflects a shared commitment to the future of the live entertainment industry by bringing together complementary expertise that helps customers confidently take on increasingly complex productions and projects.

Additional updates will be shared as planning progresses. Throughout the transition, both organizations remain committed to open communication and to providing the same quality, service, and support customers expect today.

For more information, please visit:

https://www.rosebrand.com/blog/post/rose-brand-acquires-iweiss

About Rose Brand Rose Brand is a leading provider of custom theatrical fabrics, stage curtains, event products, and specialty solutions serving the entertainment, performing arts, event, and architectural industries. For more than a century, the company has been recognized for its craftsmanship, technical expertise, innovation, and commitment to customer service. www.rosebrand.com

About IWEISS IWEISS is a leading provider of theatrical fabrics, custom sewing and fabrication, rigging systems, and production solutions for the performing arts, entertainment, event, and architectural markets. For decades, the company has been recognized for its craftsmanship, technical expertise, and commitment to helping customers bring creative visions to life. www.iweiss.com

Media Contact

Joshua Alemany, Rose Brand, 1 (201) 809-1730 274, joshua.alemany@rosebrand.com, www.rosebrand.com

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Data Center Virtualization Market to Reach $60.90 Billion by 2035 as Multi-Hypervisor and Kubernetes-Native Adoption Reshape Enterprise Infrastructure

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DC Market Insights forecasts 7.43% CAGR through 2035; Kubernetes-native virtualization grows 21.29% annually while North America holds 40.6% of 2025 market value

LONDON, Oct. 7, 2026 /PRNewswire/ — The global Data Center Virtualization Market was valued at $29.75 billion in 2025 and is projected to reach $60.90 billion by 2035, expanding at a compound annual growth rate of 7.43%, according to a new study from DC Market Insights. The market is moving into a new phase in which platform diversification, licensing economics, Kubernetes-native infrastructure and higher demand for migration and managed services are reshaping how enterprises and data center operators deploy virtualized compute.

View the full report:  https://www.dcmarketinsights.com/report/data-center-virtualization-market 

$29.75B

$60.90B

7.43 %

40.6 %

2025 market size

2035 forecast

CAGR, 2025-2035

North America share

“The next decade of data center virtualization will be defined less by whether workloads are virtualized and more by how operators manage platform choice, licensing economics and mixed VM-container estates. Proprietary Type 1 hypervisors remain the largest segment today, but KVM-based and Kubernetes-native platforms together are projected to rise from 28.2% of market value in 2025 to 46.5% by 2035. That transition is creating a larger opportunity for migration, orchestration and managed services across enterprise, colocation and cloud environments.”

— Amit Jain, Senior Consultant, ICT & Emerging Technologies, DC Market Insights, and lead analyst of the report

Virtualized Core Growth and Licensing Changes Drive Market Expansion

DC Market Insights identifies three forces behind most of the market’s growth: expansion of the virtualized physical core base, higher software spend per core following licensing changes and a sustained wave of upgrade and migration projects. The firm models the installed virtualized core base rising from about 92.0 million in 2025 to 155.75 million by 2035. Server virtualization software alone is forecast to increase from $14.90 billion to $28.45 billion over the same period.

The report also finds that average server virtualization software spend increased from about $136 per core in 2023 to $162 per core in 2025. That price reset contributed significantly to the market’s 2025 value expansion. Looking ahead, growth becomes more volume- and service-driven as enterprises add cores, automate mixed infrastructure and outsource a larger share of ongoing operations.

Multi-Hypervisor Strategies Move Into the Mainstream

The competitive structure of virtualization is broadening. Proprietary Type 1 hypervisors accounted for 71.8% of market value in 2025, but their share is projected to decline to 53.5% by 2035. Open-source and KVM-based hypervisors are forecast to grow from $6.72 billion in 2025 to $16.83 billion by 2035, a 9.61% CAGR, while Kubernetes-native virtualization is the fastest-growing hypervisor category at 21.29% annually, increasing from $1.67 billion to $11.48 billion.

This shift does not imply the disappearance of established proprietary platforms. Instead, the report points to a more diversified operating model in which large buyers maintain core estates on established platforms while deploying new or less critical workloads on KVM-based, hyperconverged or Kubernetes-native alternatives. That architecture raises demand for cross-platform management, policy automation, skills, migration tooling and services.

Server Virtualization Software Retains the Largest Component Share

Server virtualization software represented 50.1% of global market revenue in 2025 at $14.90 billion. Professional services accounted for $4.15 billion, desktop and application virtualization for $4.66 billion, virtualization management and orchestration for $3.50 billion and managed services for $2.54 billion.

Managed services are projected to record the strongest growth among components, advancing at 11.70% annually to $7.67 billion by 2035. Virtualization management and orchestration also grows faster than the overall market, reaching $8.03 billion by 2035 as operators automate patching, policy enforcement, lifecycle management and capacity planning across several hypervisors.

On-Premises Enterprise Data Centers Lead, but Hosted and Edge Models Gain Share

On-premises enterprise data centers were the largest deployment segment in 2025 at $15.59 billion, or 52.4% of global spending. Colocation and hosted private cloud represented 23.6%, cloud service provider data centers 17.4% and edge and remote sites 6.6%. Edge and remote deployments are forecast to grow fastest at 11.90% annually, reaching $6.05 billion by 2035.

Large enterprises accounted for 69.3% of market value in 2025, while small and medium enterprises are projected to grow faster through hosted, managed and subscription-based offerings. Banking, financial services and insurance was the largest end-user vertical at 22.6% of spending, followed by IT and telecom. Healthcare is forecast to be the fastest-growing major vertical as hospitals virtualize clinical applications, shared workstations and data-intensive workloads.

North America Leads; Asia Pacific Gains the Most Share

North America led the market with $12.08 billion in 2025, representing 40.6% of global value, and is forecast to reach $22.42 billion by 2035. The region has the largest installed base of proprietary hypervisors and is therefore seeing a significant volume of licensing reviews, platform renewals and migration projects.

Europe held 27.8% of the market in 2025 at $8.27 billion, while Asia Pacific accounted for 23.4% at $6.96 billion. Asia Pacific is projected to reach $16.92 billion by 2035 at a 9.29% CAGR, gaining 4.4 percentage points of global share. The Middle East and Africa is the fastest-growing region at 9.79% annually, supported by new government, financial services and telecom infrastructure.

The United States was the largest country market at $10.77 billion in 2025, equal to 36.2% of global spending. China ranked second at $2.21 billion, followed by Germany at $1.75 billion. India is forecast to grow fastest among the major country markets at 13.49% annually through 2035.

Competitive Landscape Shifts Toward Platform Choice and Migration Economics

The report profiles 16 companies across server virtualization, desktop and application virtualization, management software and services. Broadcom (VMware) is estimated to lead the market with about 39% of 2025 value, while Broadcom, Microsoft and Citrix together account for approximately 58%. Other profiled competitors include Nutanix, Red Hat, Omnissa, Hewlett Packard Enterprise, Oracle, Proxmox Server Solutions, SUSE, Huawei, Scale Computing, Dell Technologies, IBM, Parallels and Canonical.

Recent developments reinforce the move toward broader platform choice. HPE made Morpheus VM Essentials generally available in May 2025, Omnissa announced Horizon support for Nutanix AHV, Broadcom made VMware Cloud Foundation 9.0 generally available in June 2025 and Proxmox released Proxmox VE 9.0 in August 2025. Nutanix reported fiscal 2026 revenue of $2.85 billion and more than 3,000 new customers, reflecting growing interest in alternative virtualization stacks.

Forecast Scenarios Put 2035 Market Between $51.28 Billion and $70.22 Billion

DC Market Insights’ base case places the market at $60.90 billion by 2035. A lower-growth scenario, built around faster switching to lower-cost platforms, flat spend per core after 2026 and slower core expansion, produces a $51.28 billion market. A high case, in which bundle pricing remains firm and managed services and edge deployments expand faster, places the market at $70.22 billion.

Kubernetes-native virtualization is a central structural variable in the forecast because it shifts value from the traditional hypervisor license toward container-platform subscriptions and integrated management. For buyers, that makes total cost of ownership, workload portability, governance and operational tooling increasingly important in platform selection.

Research Methodology

DC Market Insights built the market model bottom-up from annual cohorts of virtualized physical cores and concurrent hosted desktop users, with separate pricing curves for hypervisor and management software. Professional and managed services were then added as ratios of software spending. The model was split across five components, three hypervisor types, four deployment models, two organization sizes, seven verticals and five regions. Results were cross-checked against supplier disclosures, published licensing terms and country-level installed server and data center capacity estimates.

Get Free Report Sample – https://www.dcmarketinsights.com/report/data-center-virtualization-market 

Report author: Amit Jain, Senior Consultant, ICT & Emerging Technologies. Reviewed by: Deepti Agrawal, Senior Editor, Research.

Related Reports from DC Market Insights

Software-Defined Data Center MarketData Center Automation MarketData Center Orchestration MarketSoftware-Defined Networking (SDN) in the Data Center MarketAIOps for Data Center Management Market

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Data Center Map – Deal Tracker – PUE Calculator

About DC Market Insights

DC Market Insights is the data center research and consulting practice of Credence Research, founded in 2015. The firm sizes data center markets, develops forecasts to 2035 and advises investors, operators, vendors and governments on commercial due diligence, site selection, market entry, power strategy, market sizing and competitive intelligence. Its research spans the data center value chain across facilities, power, cooling, racks, cloud, AI compute, interconnection, software, services, storage, networking and energy.

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DC Market Insights
Email: sales@dcmarketinsights.com
United States: +1 628 262 7656
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Office: Tower C-1105, S 25, Akash Tower, Vishal Nagar, Pimple Nilakh, Pune, MH 411027, India
Web: www.dcmarketinsights.com

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