Securitize Reports Record Revenue Amid Continued Losses Ahead of SPAC Merger
Securitize remains in the red even as record quarter fuels public listing plans
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Securitize, a Miami-based tokenization platform, reported a record revenue of $19.5 million in the first quarter, a 39% increase from last year. However, the company posted a net loss of $7.9 million as it invests heavily in growth and prepares for a public listing through a merger with Cantor Equity Partners II.
- 01Securitize's asset servicing revenue surged 201% to $8.3 million, driven by its expanding fund services.
- 02The company manages $3.4 billion in tokenized assets and has $24.9 billion in assets under administration.
- 03Despite revenue growth, adjusted EBITDA fell to $800,000, down from $4.1 million a year earlier.
- 04Securitize is focused on increasing its institutional partnerships, including collaborations with the New York Stock Exchange and Uniswap Labs.
- 05The merger with Cantor Equity Partners II aims to position Securitize as a leading publicly traded company in the tokenized securities market.
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Securitize, a tokenization platform based in Miami, has reported record first-quarter revenue of $19.5 million, marking a 39% increase compared to the same period last year. This growth is primarily attributed to a 201% surge in asset servicing revenue, which reached $8.3 million. Despite this impressive revenue performance, Securitize continues to operate at a loss, with its net loss widening to $7.9 million as the company ramps up spending in anticipation of its public listing through a merger with Cantor Equity Partners II, a special purpose acquisition company (SPAC). The company is also managing $3.4 billion in tokenized assets and has $24.9 billion in assets under administration. Chief Financial Officer Francisco Flores emphasized the company's commitment to long-term growth through investments in infrastructure and personnel, even as they navigate profitability challenges. The merger is expected to position Securitize as a notable player in the public market focused on tokenized securities.
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The company's growth and public listing plans could enhance job opportunities and investment in the local economy as it expands its operations.
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