Webull (BULL) Skyrockets 35% W/W on Crypto Boom Ride
Webull grew its share prices by 35.34 percent week-on-week to end at $16.89 versus the $12.48 on July 11, as investor sentiment was boosted by its ongoing initiatives for the cryptocurrency industry.
In a statement earlier in the week, Webull Corporation (NASDAQ:BULL) announced that it would reintegrate cryptocurrency trading into its group platform as it eyes to reintroduce cryptocurrency trading to its global customer base following its launch in Brazil last month.
Additional markets are also expected to take place, including making cryptocurrency trading available to its US customers through the Webull app by the end of the third quarter.
'The improving clarity of cryptocurrency regulations, both in the United States and internationally, underlies our decision to bring crypto trading back to our platform,' Webull Corporation (NASDAQ:BULL) President and CEO Anthony Denier said.
Image by drobotdean on Freepik
'With this consolidation, the company will be better positioned to meet the needs of our customers. We are excited about the evolution of the financial services industry as it begins to adopt blockchain technology, and we've already seen great success with our rollout in Brazil. We look forward to tapping additional markets this year,' he added.
While we acknowledge the potential of BULL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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Closing Remarks'The second quarter began with a flurry of activity that has not slowed down. We closed the VOXX acquisition on April 1st and then moved very quickly into a chaotic period of global trade uncertainty that lasted for the entire quarter and remains unresolved. It was, nevertheless, a very productive quarter, as we continued to make progress on our path to improved profitability. Our teams are performing at a very high level and our operational efficiency is improving significantly versus the same time last year. These improvements played a key role in driving strong revenue and profitability improvements, despite revenue reductions in the domestic China market and the lower than expected light vehicle production in our primary markets. Over the next several quarters, the Company will continue executing the margin improvement initiatives that are targeted to get the core margin profile in line with our long-term target of 35 - 36%. While we are working on those targets, we are also working with the VOXX team to ensure the combined organization is appropriately structured to support long-term profitability and shareholder value,' concluded Downing. 'On the product front, we continue to make significant strides in the development of large area devices and we remain very confident that the technology breakthroughs we have made in the last year will create significant opportunities for our dimmable visor, sunroof, side-window, and panoramic roof applications globally,' said CTO and COO, Neil Boehm. 'Additionally, we continue to make progress on our launches of Driver Monitoring System ("DMS") platforms for four key customers as demand for safety and driver-assist technology continues to accelerate across global markets. We are increasingly confident in the strength of our technology roadmap and our team's ability to deliver the best scalable technology platforms that create value for our customers and end consumers,' concluded Boehm. Safe Harbor for Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'forecast,' 'future,' 'goal,' 'guidance,' 'hope,' 'intend,' "likely", 'may,' 'opinion,' 'optimistic,' 'plan,' 'poised,' 'predict,' 'project,' 'should,' 'strategy,' 'target,' 'will,' "work to," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. These risks and uncertainties include, without limitation: changes in general industry or regional market conditions, including the impact of inflation; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers and suppliers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; labor shortages, supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation, including securities litigation relating to the conduct of our business; and force majeure events. 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GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Six Months Ended June 30, 2025 and 2024 Supplemental Information Gentex VOXX 2025 2024 Net Sales $ 1,155,797,748 $ 78,833,552 $ 1,234,631,300 $ 1,163,150,989 Cost of Goods Sold 759,584,814 58,021,996 817,606,810 772,350,073 Gross Profit 396,212,934 20,811,556 417,024,490 390,800,916 Engineering, Research & Development 91,368,391 6,027,250 97,395,641 86,185,980 Selling, General & Administrative 59,010,503 19,437,857 78,448,360 60,384,602 Severance Expense 9,086,014 587,234 9,673,248 — Operating Expenses 159,464,908 26,052,341 185,517,249 146,570,582 Income (Loss) from Operations 236,748,026 (5,240,785 ) 231,507,241 244,230,334 Other (Loss)/Income (2,500,747 ) 91,227 (2,409,520 ) (15,251,428 ) Income before Income Taxes 234,247,279 (5,149,558 ) 229,097,721 228,978,906 Provision for Income Taxes 39,290,603 (717,377 ) 38,573,226 34,707,753 Net Income (Loss) 194,956,676 (4,432,181 ) $ 190,524,495 $ 194,271,153 Less: Net loss attributable to non-controlling interest — (389,134 ) (389,134 ) — Net Income (Loss) Attributable to Gentex Corporation $ 194,956,676 $ (4,043,047 ) $ 190,913,629 $ 194,271,153 Earnings Per Share Attributable to Gentex Corporation(1) Basic $ 0.86 $ (0.02 ) $ 0.85 $ 0.84 Diluted $ 0.86 $ (0.02 ) $ 0.85 $ 0.84 Cash Dividends Declared per Share $ 0.240 $ 0.240 (1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards. GENTEX CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 (Unaudited) (Note) ASSETS Cash and Cash Equivalents $ 119,774,840 $ 233,318,766 Short-Term Investments 21,303,330 22,304,829 Accounts Receivable, net 372,961,789 295,344,353 Inventories 475,719,663 436,497,445 Other Current Assets 72,217,004 49,862,777 Total Current Assets 1,061,976,626 1,037,328,170 Plant and Equipment - Net 783,863,952 728,481,467 Goodwill 340,668,927 340,668,927 Long-Term Investments 267,045,895 339,604,044 Intangible Assets, net 186,550,142 195,157,160 Patents and Other Assets, net 173,711,794 119,581,207 Total Other Assets 967,976,758 995,011,338 Total Assets $ 2,813,817,336 $ 2,760,820,975 LIABILITIES AND SHAREHOLDERS' INVESTMENT Current Liabilities $ 336,933,865 $ 252,692,676 Other Non-current Liabilities 43,755,486 36,028,644 Redeemable Non-controlling Interest 2,490,261 — Shareholders' Investment 2,430,637,724 2,472,099,655 Total Liabilities & Shareholders' Investment $ 2,813,817,336 $ 2,760,820,975 Note: The condensed consolidated balance sheet at December 31, 2024 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. GENTEX CORPORATION AND SUBSIDIARIESRECONCILIATION OF NON-GAAP MEASURES (Unaudited) In this press release, the Company has provided information regarding certain non-GAAP financial measures, which are reconciled to their closest GAAP financial measure in the following schedules. Use of the term "adjusted" or "excluding" in connection with a financial measure identifies and reflects a non-GAAP financial measure. Non-GAAP Financial Measures: The Company has presented Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Expenses, and Adjusted Operating Income (Loss) as supplemental measures of the Company's performance. Current quarter Adjusted Gross Profit, Adjusted Operating Expenses, and Adjusted Operating Income (Loss) exclude certain purchase price adjustments pursuant to ASC 805, acquisition related costs, and severance costs set forth in the table below. Current quarter Adjusted Gross Margin is defined as Adjusted Gross Profit divided by Net Sales. (Unaudited) Three Months Ended June 30, Gentex VOXX Consolidated 2025 Consolidated 2024 Gross Profit - GAAP $ 204,479,347 $ 20,811,556 $ 225,290,903 $ 188,563,309 Inventory purchase price step-up adjustments pursuance to ASC 805 — 2,498,442 2,498,442 — Adjusted Gross Profit - (Non-GAAP) $ 204,479,347 $ 23,309,998 $ 227,789,345 $ 188,563,309 Gross Margin - GAAP 35.3 % 26.4 % 34.2 % 32.9 % Adjusted Gross Margin - (Non-GAAP) 35.3 % 29.6 % 34.6 % 32.9 % Operating Expenses - GAAP 80,718,427 26,052,341 106,770,768 73,679,287 Less: Acquisition Related Costs 957,207 1,515,844 2,473,051 — Severance Costs 6,196,902 587,234 6,784,136 — Adjusted Operating Expenses - (Non-GAAP) $ 73,564,318 $ 23,949,263 $ 97,513,581 $ 73,679,287 Income (Loss) from Operations - GAAP 123,760,920 (5,240,785 ) $ 118,520,135 $ 114,884,022 Inventory purchase price step-up adjustments pursuance to ASC 805 — 2,498,442 2,498,442 — Acquisition Related Costs 957,207 1,515,844 2,473,051 — Severance Costs 6,196,902 587,234 6,784,136 — Adjusted Income (Loss) from Operations - (Non-GAAP) $ 130,915,029 $ (639,265 ) $ 130,275,764 $ 114,884,022 Adjusted Net Income and Adjusted Earnings per Diluted Share: Adjusted Net Income and Adjusted Earnings per Diluted Share are presented as supplemental measures of the Company's performance. Adjusted Net Income is defined as Net Income (Loss) adjusted for purchase price adjustments pursuant to ASC 805, acquisition related costs, and severance costs during the second quarter of 2025. Adjusted Earnings per Diluted Share is defined as Adjusted Net Income (Loss) divided by weighted average diluted shares outstanding. (Unaudited) Three Months Ended June 30, Gentex VOXX Consolidated 2025 Consolidated 2024 Net Income (Loss) Attributable to Gentex Corporation - GAAP $ 100,082,631 $ (4,043,047 ) $ 96,039,584 $ 86,040,438 Inventory purchase price step-up adjustments pursuance to ASC 805, net of tax — 2,068,710 2,068,710 — Acquisition Related Costs, net of tax 792,567 1,255,119 2,047,686 — Severance Costs, net of tax 5,131,035 486,230 5,617,265 — Net Income (Loss) Attributable to Gentex Corporation - (Non-GAAP) $ 106,006,233 $ (232,988 ) $ 105,773,245 $ 86,040,438 Adjusted Basic Earnings Per Share: Basic $ 0.48 $ — $ 0.47 $ 0.37 Diluted $ 0.48 $ — $ 0.47 $ 0.37 The Company believes that the presentation of these non-GAAP financial measures provides insight into the Company's core performance and trends with respect to the same. Management of the Company similarly uses such non-GAAP financial measures in assessing the business internally. This press release was published by a CLEAR® Verified individual.
