CoinDesk
Securitize posted first-quarter revenue of $19.5 million, up 39% year over year and the highest quarterly figure in the company's history, driven by a 201% surge in asset-servicing revenue to $8.3 million. Tokenization revenue came in at $11.1 million, roughly flat with a year earlier, while total tokenized assets under management reached $3.4 billion, assets under administration hit $24.9 billion and aggregated transaction volume topped $1.9 billion for the quarter.
The Miami-based company remains unprofitable as it ramps spending ahead of a planned public listing. Net loss widened to $7.9 million, or 88 cents per diluted share, and adjusted EBITDA fell to $800,000 from $4.1 million in the prior-year period. CFO Francisco Flores framed the spend as investment in headcount, infrastructure and the public-market transition, with what he called disciplined expense management underneath.
Why it matters
Securitize is positioning to be one of the few publicly traded companies whose primary business is tokenized securities and real-world assets. Its agreed SPAC merger with Cantor Equity Partners II (CEPT), a Nasdaq-listed vehicle, would put a direct RWA-tokenization pure play in front of public-market investors — a structure that has so far been missing from the listed crypto complex. The deepening of partnerships with the New York Stock Exchange and Uniswap Labs during the quarter reinforces the institutional plumbing being built around the platform, and the $24.9 billion in assets under administration gives the eventual public company a sizeable base to monetize as the tokenization market scales.
Market impact
The 5% jump in CEPT shares on the day of the print is the cleanest read: investors are paying for the optionality of the listing, not the current earnings. With a $7.9M net loss against a still-modest $19.5M revenue base, the near-term question is whether growth in asset servicing can outrun the cost load before and after the merger closes. The 650 active funds on the Securitize Fund Services platform is the funnel to watch — every incremental fund adds recurring revenue and pulls the path to breakeven forward.
Frequently asked questions
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What is Securitize's planned public listing path?
Securitize has agreed to merge with Cantor Equity Partners II (CEPT), a Nasdaq-listed SPAC, in a deal that would position it as one of the few publicly traded companies focused primarily on tokenized securities and real-world assets.
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How much revenue did Securitize generate in Q1?
Securitize reported record first-quarter revenue of $19.5 million, up 39% from a year earlier, with asset-servicing revenue surging 201% to $8.3 million and tokenization revenue at $11.1 million.
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Is Securitize profitable?
No. Net loss widened to $7.9 million, or 88 cents per diluted share, in Q1, and adjusted EBITDA fell to $800,000 from $4.1 million a year earlier, as the company increased spending on growth and public-company preparations.
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How much in tokenized assets does Securitize manage?
Securitize 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, with 650 active funds on its Fund Services platform.
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Why did CEPT shares move on the earnings report?
Shares of Cantor Equity Partners II rose 5% on Wednesday as investors read the strong top-line growth and deepening institutional partnerships as positive signals for the proposed merger with Securitize.
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