Securitize Shares Sink 20% After Q2 Revenue Miss

Securitize (SECZ) shares plunged 20% in after-hours trading Wednesday after the tokenization company reported weaker-than-expected second-quarter results in its first earnings release since becoming a publicly traded company.

The blockchain-based securities firm reported Q2 revenue of $14.4 million, a 5% decline from the same period last year and well below Wall Street estimates of $20.6 million. Securitize also recorded a loss of $2.37 per share, sharply exceeding analysts’ expected loss of $0.15 per share.

Net losses reached $21.7 million during the quarter. Adjusted EBITDA fell to a $5.5 million loss, reversing a $1.8 million profit recorded a year earlier.

The disappointing earnings come as institutional interest in real-world asset tokenization continues to grow. Securitize provides blockchain infrastructure that allows asset managers to issue and administer traditional financial products, including funds and securities, as digital tokens.

CEO Carlos Domingo described the second quarter as “softer,” while highlighting the company’s stronger performance earlier in 2026. First-half revenue was still up 16% year-over-year, helped by record quarterly revenue of $19.5 million in Q1.

Despite weaker Q2 financial results, activity across the Securitize platform expanded. Average tokenized assets under management rose 16% year-over-year to a record $4.3 billion, while transaction volume jumped 147% to $5.3 billion. Its fund-services business managed 663 active funds representing $24.3 billion in assets under administration.

Securitize has emerged as a major player in institutional asset tokenization through relationships with firms including BlackRock and KKR. It provides infrastructure for BlackRock’s BUIDL tokenized money-market fund, launched in 2024 and now among the largest tokenized Treasury and money-market products.

The company is also collaborating with the New York Stock Exchange on tokenized securities trading infrastructure and has partnered with Computershare to support tokenized shares for U.S. issuers.

The Q2 report marks Securitize’s first quarterly earnings announcement since completing its merger with a Cantor-backed SPAC and going public in July.