Securitize reported record quarterly revenue as the tokenization platform continued to advance toward a possible public listing through its proposed SPAC merger with Cantor Equity Partners II (CEPT), highlighting growing institutional demand for real-world tokenized assets despite continued profitability pressures.
The Miami-based company said its 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 jumped 201% to $8.3 million, reflecting the continued expansion of Securitize Fund Services, which managed 650 active funds as of March 31. Tokenization revenue totaled $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 trading volume.
Despite its revenue growth, Securitize remained unprofitable as it increased spending on expansion efforts and preparations to become a publicly traded company. The 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 year-ago period.
Chief Financial Officer Francisco Flores said the company continues to invest in workforce and infrastructure to support long-term growth and its 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 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.
