Yesterday, Securitize (NYSE:SECZ) filed its first earnings report after listing on the New York Stock Exchange. Securitize went public last month in a SPAC deal.
In early trading, Securitize shares are down around 20%.
Securitize is a prominent platform in the tokenization sector. It generates the bulk of its revenue assisting issuers in the tokenization process. It also provides asset servicing and fund administration operations. It is a broker-dealer and operates an ATS.
Securitize works with top-tier financial services firms like Apollo, BlackRock, BNY, Hamilton Lane, KKR, VanEck, and others.
According to its report, Securitize experienced a drop in revenue during the quarter. Total revenue of $14.4 million was generated during the quarter, down 5% versus the prior-year period. First-half 2026 revenue was still up 16% year over year, helped by a record $19.5 million in revenue during the first quarter.
The company booked a net loss of $21.7 million, with a net loss per diluted share of $2.37. Adjusted EBITDA was a loss of $5.5 million, versus positive Adjusted EBITDA of $1.8 million in the prior-year period.
Securitize Fund Services’ total assets under administration were $24.3 billion as of June 30, 2026, down approximately 20%.
On a more positive note, Securitize’s average tokenized AUM in the quarter was $4.3 billion, up 16%, with total AUM of $4.3 billion as of June 30, 2026, up 9%.
Securitize stated that 663 active funds were being serviced by Securitize Fund Services as of the end of June.
Francisco Flores, Chief Financial Officer, said they continue to make progress on their financial goals. While their quarterly revenue can be volatile, they remain focused on driving top-line growth by investing to expand the business.
“As we scale as a public company, given the underlying operating leverage we see in the business, delivering positive adjusted EBITDA will remain an important near-term goal. Importantly, we closed the business combination one day after quarter-end, leaving Securitize in a strong liquidity position – with approximately $350 million in cash and no debt on our balance sheet – as we entered the third quarter.”
Securitize highlighted multiple recent announcements that indicate a growing business, including an agreement to partner with Atlas Capital to launch USAF (NASDAQ:USAF) under Dubai’s VARA framework; partnering with Cantor Fitzgerald on tokenized IPOs; Acting as a transfer agent for Computershare and Continental Stock Transfer & Trust; and tokenized-equities collaboration with Jump Trading and Jupiter.
Analysts remain pretty positive about the company, with multiple buy targets well over its current price. On average, the share price target stands at around $15 today.