Securitize reported record revenue in the quarter as the tokenization platform continued to progress toward an eventual public listing through its proposed SPAC merger with Cantor Equity Partners II (CEPT), underscoring growing institutional demand for real-world tokenized 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 increased 201% to $8.3 million, reflecting the continued expansion of Securitize Fund Services, which serviced 650 active funds per year. March 31. Tokenization revenue was $11.1 million compared to $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 aggregate transaction volume.
Despite revenue growth, Securitize remained unprofitable as it ramped up spending on expansion efforts and preparations to become a publicly traded company. The net loss widened to $7.9 million, or 88 cents a share. diluted share, while adjusted EBITDA fell to $800,000 from $4.1 million in the prior-year period.
Chief Financial Officer Francisco Flores said the company continued to invest in headcount and infrastructure to support long-term growth and the transition to the public market, while maintaining what he described as disciplined expense management.
Securitize has agreed to merge with Cantor Equity Partners II, a Nasdaq-listed special-purpose buyout firm, in a deal that will position it as one of the few publicly traded companies focused primarily on tokenized securities and real-world assets. Shares in CEPT rose 5% on Wednesday.
