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Securitize Drops 20% After Missing Quarterly Estimates

Revenue and profit came in well below expectations, despite record growth in tokenized assets and higher platform activity. Securitize works with BlackRock’s BUIDL and the NYSE, among others, on tokenization infrastructure.

By Finst News
• 2 min read
Securitize Drops 20% After Missing Quarterly Estimates

Key Takeaways

  • Securitize fell 20% after hours after quarterly results came in below Wall Street expectations.
  • Revenue was $14.4 million, while loss per share came in at $2.37 versus an expected $0.15.
  • The platform did still see record growth, with $4.3 billion in tokenized assets under management and $5.3 billion in transaction value.

Securitize fell 20% after hours on Wednesday after the tokenization specialist came in below Wall Street expectations in its first quarterly report since going public. The stock move came despite solid growth in platform usage and a record in tokenized assets under management.

Revenue Misses Expectations

The crypto company reported revenue of $14.4 million (€12.5 million), 5% lower than a year earlier and clearly below the analyst estimate of $20.6 million (€17.8 million). The bottom line also disappointed: Securitize posted a loss of $2.37 (€2.05) per share, while the market had expected a loss of just $0.15 (€0.13) per share.

Net income came in at a loss of $21.7 million (€18.8 million). Adjusted EBITDA swung to a loss of $5.5 million (€4.8 million), compared with a profit of $1.8 million (€1.6 million) a year earlier. CEO Carlos Domingo called the quarter “softer,” but also pointed out that the first half of the year still showed 16% more revenue than a year earlier.

Tokenization Keeps Growing

Securitize is known as the company behind BlackRock’s BUIDL, a tokenized money-market fund, putting it right in the middle of the broader push to move funds and other financial products onto blockchain rails. Interest in tokenization is rising, but that still does not automatically translate into steady revenue growth for the company.

Platform activity did show a strong picture, though. Average tokenized assets under management hit a record $4.3 billion (€3.7 billion), up 16% from a year earlier. Transaction value rose 147% to $5.3 billion (€4.6 billion), while the fund-services arm handled 663 active funds and $24.3 billion (€21 billion) in assets under administration.

What This Says About the Market

For European crypto followers, the key point is that tokenization is increasingly becoming an institutional theme, not just a niche within crypto. Securitize also works with the New York Stock Exchange on infrastructure for tokenized securities and has partnerships with companies like Computershare, showing how traditional market players are continuing to explore blockchain infrastructure.

The growth fits into a broader trend where major financial firms are taking tokenization more seriously. For example, BlackRock brought tokenized money market funds to Europe, which further highlights institutional demand for onchain funds.

At the same time, this is still a market where growth in usage does not automatically lead to profitability. That makes Securitize’s numbers an interesting gauge for the broader tokenization sector, where institutional adoption and commercial performance are not always moving in lockstep.

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