Securitize falls 16% after earnings miss, tokenization revenue drops
Summary
Securitize fell in premarket trading after missing revenue expectations in its second quarter. Total revenue was $14.4 million, down 5% year over year and below the $20.6 million Wall Street estimate. Tokenization revenue declined to $7.8 million from $8.9 million. Despite weaker sales, average tokenized assets under management hit a record $4.3 billion, up 16% from a year earlier. The company also posted a wider net loss of $21.7 million, and adjusted EBITDA shifted to a $5.5 million loss from a profit of $1.8 million. Shares were down about 16% premarket.
