TLDR
- Securitize shares fell 20% after hours after missing Q2 revenue and earnings estimates
- Revenue came in at $14.4 million, down 5% year-over-year, well below the $20.6 million expected
- Net loss widened to $21.7 million versus $6.1 million in the same period last year
- Tokenized assets under management hit a record $4.3 billion, up 16% year-over-year
- Transaction volume surged 147% to $5.3 billion despite the weak financial results
Securitize, the BlackRock-backed tokenization company, reported a sharp loss in its first earnings update since going public on the New York Stock Exchange last month. Shares dropped around 20% in after-hours trading Wednesday after the results fell well short of Wall Street expectations.
The company reported Q2 revenue of $14.4 million, down 5% from $15.3 million a year earlier. Analysts had expected $20.6 million. The miss was wide.
The net loss widened to $21.7 million for the three months ended June 30. That compares to a loss of $6.1 million in the same quarter last year.
Securitize hit a record $4.3 billion in average tokenized assets in its first results since listing
That figure rose 16% year on year, though revenue slipped 5% to $14.4 million and the company booked a $21.7 million net loss. Adjusted EBITDA swung to a $5.5 million loss from a… pic.twitter.com/tAmDGeyzr3
— BSCN (@BSCNews) August 12, 2026
The per-share loss came in at $2.37. Analysts had forecast a loss of just $0.15 per share. Adjusted EBITDA swung to a loss of $5.5 million from a gain of $1.8 million a year ago.
CEO Carlos Domingo described the quarter as “softer” on the earnings call, while pointing to a stronger start to the year. First-half revenue was still 16% higher compared to the same period in 2024.
The first quarter was the company’s strongest, with revenue hitting a record $19.5 million. The second quarter pullback followed a broader downturn in the crypto market.
Platform Activity Grew Despite Revenue Miss
Despite the weak revenue, activity on the Securitize platform was up. Average tokenized assets under management reached a record $4.3 billion, a 16% increase year-over-year.
Transaction volume jumped 147% to $5.3 billion during the quarter. The company’s fund-services arm oversaw 663 active funds and $24.3 billion in assets under administration.
Securitize provides the infrastructure that lets asset managers issue and manage traditional financial products as blockchain-based tokens. Its clients include BlackRock and KKR.
The company is best known for managing BlackRock’s BUIDL fund, a tokenized money-market product launched in 2024. BUIDL has grown into one of the largest tokenized Treasury and money-market products in the market.
Securitize’s Public Debut and Partnerships
Securitize went public last month after merging with a special purpose acquisition company backed by Cantor Fitzgerald. Wednesday’s report was its first as a listed company.
The company currently has approximately $5 billion in assets managed on the blockchain.
It is also working with the New York Stock Exchange on infrastructure for trading tokenized securities. It has partnered with transfer agent Computershare to enable tokenized shares for U.S. issuers.
The stock was trading at around $7.86 before the after-hours drop. The results come as Wall Street’s interest in tokenization continues to grow, but sustained revenue growth has not yet followed for Securitize.
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