Securitize remains in the red even as record quarter fuels public listing plans
The tokenization platform reported record quarterly revenue but continued to post losses as it invested in growth and public-company preparations tied to its merger with Cantor Equity Partners II.
What to know:
- Securitize reported record first-quarter revenue of $19.5 million, up 39% from a year earlier, driven largely by rapid growth in its asset-servicing business.
- The company remains unprofitable, with its net loss widening to $7.9 million as it increases spending ahead of a planned public listing via a SPAC merger with Cantor Equity Partners II.
- Securitize deepened its institutional reach through new partnerships with the New York Stock Exchange, Uniswap Labs and others, while overseeing $3.4 billion in tokenized assets under management.
Asset servicing revenue surged 201% to $8.3 million, reflecting the continued expansion of Securitize Fund Services, which serviced 650 active funds as of March 31. Tokenization revenue totaled $11.1 million, compared with $11 million in the same quarter a year earlier.
The company ended the quarter with $3.4 billion in tokenized assets under management, $24.9 billion in assets under administration and $1.9 billion in aggregated transaction volume.
Despite top-line growth, Securitize remained unprofitable as it increased spending on expansion efforts and preparations for becoming a publicly traded company. Net loss widened to $7.9 million, or 88 cents per diluted share, while adjusted EBITDA fell to $800,000 from $4.1 million in the prior-year period.
