Securitize reported record quarterly revenue as the tokenization platform continued to move 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 continued 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 services revenue increased 201% to $8.3 million, reflecting the continued expansion of Securitize Fund Services, which served 650 active funds as of March 31. Tokenization revenue totaled $11.1 million, compared to $11 million in the same quarter a year ago.
The company ended the quarter with $3.4 billion in tokenized assets under management, $24.9 billion in assets under management, and $1.9 billion in aggregate transaction volume.
Despite revenue growth, Securitize remained unprofitable as it increased spending on expansion efforts and preparations to become a publicly traded company. Net loss widened to $7.9 million, or 88 cents per 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 staff and infrastructure to support long-term growth and its transition to the public market, while maintaining what he described as disciplined expense management.
Securitize 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. CEPT shares rose 5% on Wednesday.
