Key Highlights
- First-quarter revenue reached a company record of $19.5 million, representing a 39% annual growth rate
- Revenue from asset servicing operations tripled, rising 201% to reach $8.3 million
- Total tokenized assets under management stood at $3.4 billion by the end of the quarter
- Operating losses expanded to $7.9 million as the firm invested in growth and public company readiness
- A planned merger with Cantor Equity Partners II SPAC will take Securitize public in late 2026
The Miami-headquartered tokenization platform Securitize has delivered its strongest quarterly financial performance to date during the opening months of 2026, positioning itself for its upcoming transition to public markets.
First-quarter revenues totaled $19.5 million, representing a year-over-year expansion of 39% compared to the equivalent 2025 period.
Asset Management Services Drive Performance
The asset servicing division emerged as the primary growth engine. This business line generated $8.3 million in revenue, marking a remarkable 201% surge attributed to the expansion of Securitize Fund Services, which supported 650 actively managed funds by the conclusion of March.
Revenues from tokenization activities totaled $11.1 million, showing minimal change from the $11 million recorded in the first quarter of 2025.
Transaction volume processed during the three-month period reached $1.9 billion, while aggregate assets under administration climbed to $24.9 billion.
The platform’s tokenized assets under management hit $3.4 billion at quarter-end. This represents a relatively modest portion of the firm’s overall administered asset base.
Operating Deficit Expands Amid Strategic Investments
While revenues climbed, the company recorded a net deficit of $7.9 million, equivalent to 88 cents per diluted share. This marks a larger shortfall compared to the corresponding period in the previous year.
Management attributed the increased deficit to strategic investments in personnel and technology infrastructure, along with expenditures related to public listing preparations.
On an adjusted Ebitda basis, Securitize maintained profitability, although the metric declined to $800,000 from $4.1 million in the prior-year quarter.
Chief Financial Officer Francisco Flores noted that the company concluded the quarter with robust liquidity and approximately neutral operating cash flow, excluding working capital adjustments and public company transition costs.
Strategic Alliances and Regulatory Developments
The quarter featured multiple high-profile institutional collaborations. March saw Securitize and the New York Stock Exchange unveil a partnership designed to advance tokenized securities infrastructure. Securitize received designation as the inaugural firm authorized to create blockchain-based securities for ETFs on the NYSE’s Digital Trading Platform.
The platform also broadened accessibility to BlackRock’s BUIDL tokenized money market fund via integration with Uniswap Labs. Fund shares became tradable through UniswapX infrastructure.
From a regulatory perspective, FINRA granted Securitize approval this month for custody of tokenized securities and underwriting capabilities for tokenized IPOs and secondary market offerings. Bloomberg recently indicated that the SEC might unveil an innovation exemption framework for tokenized equities in the near term.
Benchmark analysts characterized Securitize as a fundamental infrastructure provider for the tokenization sector, noting that capturing even a modest fraction of the NYSE’s approximately $44 trillion market capitalization could substantially expand its tokenized asset holdings.
Public Market Transition Progressing
Securitize continues advancing its public listing strategy through a combination with Cantor Equity Partners II, a special purpose acquisition company listed on Nasdaq. The transaction is anticipated to finalize during the latter half of 2026, with securities expected to trade under the ticker symbol SECZ.
Cantor Equity Partners II shares appreciated 5% on Wednesday in response to the quarterly financial disclosure.
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