Securitize posts record revenue in the first quarter as it gears up for public listing

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Securitize posts record revenue in the first quarter as it gears up for public listing 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's net loss widened to $7.9 million as it increased spending ahead of a planned public listing via a SPAC merger with Cantor Equity Partners II, while it remained profitable on an adjusted Ebitda basis. - 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. Securitize reported record quarterly revenue as the tokenization platform continued advancing toward an eventual public listing through its proposed SPAC merger with Cantor Equity Partners II (CEPT), underscoring growing institutional demand for tokenized real-world assets despite ongoing profitability pressures. The Miami-based company said first-quarter revenue rose 39% year over year to $19.5 million, the highest quarterly revenue in its history, according to results released Wednesday. 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, net loss widened to $7.9 million, or 88 cents per diluted share, as it increased spending on expansion efforts and on preparations to become a publicly traded company. However, the company remains profitable on an adjusted Ebitda basis, even as it fell to $800,000 from $4.1 million in the prior-year period. Chief Financial Officer Francisco Flores said the company continued investing in headcount and infrastructure to support long-term growth and its public-market transition, while maintaining what he described as disciplined expense management. "Despite increased investments in headcount to support the growth of the business and prepare for becoming a public company, we delivered strong positive operating leverage for the quarter," Flores said. "We also ended the quarter with a solid liquidity position and approximately breakeven operating cash flow before working capital movements and public-company related expenses," he added. Securitize has agreed to merge with Cantor Equity Partners II, a Nasdaq-listed special purpose acquisition company, in a deal that would position it as one of the few publicly traded companies focused primarily on tokenized securities and real-world assets. Shares of CEPT rose 5% on Wednesday. UPDATE (May 20, 10:26 pm ET): Updates headline, adds CFO commentaries and includes more context about the company's profitability. More For You Nvidia's stronger-than-expected results and bullish AI outlook lifted crypto mining stocks tied to data center and high-performance computing demand, even as the chipmaker's shares fell due to growth concerns. What to know: - Nvidia reported first-quarter revenue of $81.62 billion, up 85 percent from a year earlier and above Wall Street expectations, as AI infrastructure demand continued to surge. - Data Center now accounts for more than 90 percent of Nvidia’s revenue, prompting the company to reorganize its reporting into two segments: Data Center...

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