Securitize Reports Second Quarter 2026 Results

Rhea-AI Summary

Securitize (NYSE: SECZ) reported second quarter 2026 revenue of $14.4 million, down 5% year over year, with a net loss of $21.7 million, or $2.37 per diluted share. Adjusted EBITDA loss was $5.5 million versus positive $1.8 million a year earlier.

Average tokenized AUM reached a record $4.3 billion, up 16% year over year, and aggregate transaction volume was $5.3 billion, up 147%. Securitize highlighted partnerships with Computershare, Continental, Cantor Fitzgerald, Jump, Jupiter, Atlas Capital and Upshift, and received FINRA approval to expand broker-dealer, custody and underwriting capabilities. According to Securitize, it ended post‑quarter business combination with about $350 million in cash and no debt and serviced 663 funds with $24.3 billion AUA, down about 20%.

Positive

• Tokenized AUM $4.3 billion, up 16% YoY in 2Q26
• Aggregate transaction volume $5.3 billion in 2Q26, up 147% YoY
• Asset servicing revenue $6.6 million, up 3% YoY
• Strong liquidity post-quarter about $350 million cash and no debt
• FINRA approval expanding custody, underwriting, and settlement capabilities
• Major partnerships with Computershare, Continental, Cantor Fitzgerald, Jump, Jupiter, Atlas

Negative

• Total revenue $14.4 million, down 5% YoY in 2Q26
• Net loss $21.7 million versus $6.1 million prior-year quarter
• Adjusted EBITDA loss $5.5 million versus $1.8 million profit YoY
• Selling, general and administrative expenses up 133% YoY in 2Q26
• Provision for expected credit losses up over 1,000% YoY
• Fund services AUA $24.3 billion, down about 20% YoY

News Explained

Securitize is now public and has tokenized its own common stock; quarterly weighted-average common shares were 7% higher year over year.

Securitize began trading on the NYSE on July 2, shortly after quarter-end, and reports that its business combination closed one day after quarter-end; the company is therefore public and the transaction is complete.

The company also brought its own common stock onchain; in the issuer-sponsored model described, tokenized shares remain connected to the issuer’s official shareholder register, corporate actions and transfer-agent infrastructure.

The release reports weighted-average common and Class A shares outstanding of 9,139,723 for the quarter, up 7% from 8,570,963 a year earlier; this is a period-average measure rather than a stated post-listing share count.

Market Context

The Cantor partnership announcement, news_id 1082206, was followed by a 12.68% 24-hour move. Against...

Analysis

The Cantor partnership announcement, news_id 1082206, was followed by a 12.68% 24-hour move. Against that historical reference, the release balanced 147% transaction-volume growth against falling revenue and a larger loss; operating leverage remained a risk.

Key Figures

Total Revenue: $14.4 million Net Loss: $21.7 million Net Loss Per Share: $2.37 +5 more

8 metrics

Total Revenue $14.4 million Q2 2026, down 5% year over year

Net Loss $21.7 million Q2 2026

Net Loss Per Share $2.37 Q2 2026 diluted share

Adjusted EBITDA $5.5 million loss Q2 2026 versus $1.8 million positive prior-year period

Average Tokenized AUM $4.3 billion Q2 2026, up 16%

Aggregate Transaction Volume $5.3 billion Q2 2026, up 147%

Active Funds Serviced 663 funds As of June 30, 2026

Fund Services AUA $24.3 billion As of June 30, 2026, down approximately 20%

Historical Context

4 past events · Latest: Jul 31 (Neutral)

Pattern 4 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 31	Earnings call notice	Neutral	+4.0%	Company scheduled its second-quarter earnings call and release for August 12 and 13.
Jul 27	Regulatory registration	Positive	-7.9%	Securitize Capital became an SEC-registered investment adviser with added compliance requirements.
Jul 15	IPO partnership	Positive	+12.7%	Cantor partnership enabled blockchain-based IPOs and follow-on offerings for public companies.
Jul 14	Board appointments	Positive	-5.7%	Rebecca Macieira-Kaufmann and Manolo Sánchez joined the company's Board of Directors.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Prior supplied events showed more divergence than alignment, with the Cantor partnership the clearest positive alignment.

Key Terms

tokenized aum, adjusted ebitda, broker-dealer, atomic settlement, +1 more

5 terms

tokenized aum financial

"Record average tokenized AUM(2) in 2Q26 of $4.3 billion"

Tokenized AUM means traditional assets that a fund or manager oversees (assets under management) have been converted into digital tokens on a blockchain so ownership or claims can be divided, transferred, and tracked like digital shares. Think of it as turning a painting into many numbered prints so more people can own a slice; for investors this can lower the cost of entry, increase liquidity and transparency, and change how quickly value moves, but it also brings technology and regulatory risks.

adjusted ebitda financial

"Adjusted EBITDA(3) loss of $5.5 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

broker-dealer regulatory

"expanded our broker-dealer capabilities"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

atomic settlement technical

"enabling atomic settlement between tokenized securities and stablecoins"

Atomic settlement is a way of completing a trade so that every part of the transaction happens at the same instant or not at all, like a digital “all-or-nothing” swap. For investors this removes the risk that one side delivers assets while the other does not, speeding up final ownership and reducing the need for trust or costly intermediaries. That improves liquidity, lowers counterparty and operational risk, and makes trade outcomes more predictable.

stablecoins technical

"between tokenized securities and stablecoins"

Stablecoins are a type of digital currency designed to maintain a steady value, often linked to traditional currencies like the dollar or euro. They function like digital cash that offers the convenience of online transactions while avoiding the large price swings common with other cryptocurrencies. This stability makes them useful for investors and users who want a reliable way to store and transfer value without exposure to sudden market changes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MIAMI, Aug. 12, 2026 /PRNewswire/ -- Securitize Corp.⁽¹⁾ ("Securitize" or the "Company") (NYSE: SECZ), the leader in tokenized assets, today announced financial results for the second quarter of 2026, which ended June 30, 2026.

"On July 2^nd, shortly after quarter-end, we began trading on the New York Stock Exchange, becoming the first tokenization company to go public," said Carlos Domingo, Chairman and CEO of Securitize. "This milestone, combined with our continued leadership in the industry, will serve to strengthen our value proposition and financial position while supporting investments to enhance our suite of tokenization-related products and services for our customers. Simultaneously with our listing, we brought our own common stock onchain, becoming the largest tokenized equity in the industry and the first to do so in the U.S. on its first day of public trading. This demonstrates the model we are building for other public companies under existing regulations."

Domingo continued: "In the second quarter, Securitize continued to lead the tokenization industry as the largest platform by tokenized assets, showing how years of investment across regulation, technology and institutional infrastructure have come to fruition. We established landmark relationships with Computershare and Continental to advance issuer-sponsored tokenized equities on the back of our earlier partnership announcement with NYSE for 24/7 trading of tokenized stocks, expanded our broker-dealer capabilities, and continued to build the liquidity, collateral and settlement infrastructure required for tokenized assets to function across global capital markets."

Domingo concluded: "With approximately $5.0 billion in assets now managed onchain and more than seven assets each with $100 million or more in AUM – more than any other platform – and a strengthened balance sheet, we believe we are very well positioned to lead the next stage of institutional tokenization growth."

Second Quarter 2026 Financial Highlights

• Record average tokenized AUM⁽²⁾ in 2Q26 of $4.3 billion, up 16%, with total AUM⁽²⁾ of $4.3 billion as of June 30, 2026, up 9%
• Total Revenue of $14.4 million, down 5% versus the prior-year period
• Net loss of $21.7 million, with a net loss per diluted share of $2.37
• Adjusted EBITDA⁽³⁾ loss of $5.5 million, versus positive Adjusted EBITDA of $1.8 million in the prior-year period
• Aggregate Transaction Volume⁽⁴⁾ of $5.3 billion during the second quarter of 2026, up 147%
• 663 active funds were being serviced by Securitize Fund Services as of June 30, 2026
• Securitize Fund Services total AUA⁽⁵⁾ of $24.3 billion as of June 30, 2026, down approximately 20%

Percentage comparisons throughout this press release are calculated for the second quarter 2026 versus the second quarter of 2025, unless otherwise specified.

Second Quarter 2026 Business Highlights

Leading transfer agents Computershare and Continental Stock Transfer & Trust selected Securitize for tokenization: Securitize partnered with the world's largest and third-largest transfer agents to support issuer-sponsored tokenized shares for U.S. public companies. These relationships build on Securitize's NYSE partnership announced in late 1Q26 to help them deliver a digital trading platform for tokenized equities, acting as a design partner, transfer agent, and broker-dealer. Under this model, tokenized shares remain connected to the issuer's official shareholder register, corporate actions and existing transfer-agent infrastructure. The relationships create opportunities for Securitize to support public companies, IPO candidates, and SPAC issuers exploring tokenization strategies.

Announced a tokenized-equities collaboration with Jump Trading and Jupiter: The collaboration combines Securitize's regulated ownership and execution infrastructure with Jump's institutional liquidity capabilities and Jupiter's distribution interface. Together, the companies are developing infrastructure to support regulated public equities trading and accessing liquidity onchain.

Received FINRA approval for expanded broker-dealer capabilities: During the second quarter, Securitize Markets received FINRA approval to custody tokenized securities, enabling atomic settlement between tokenized securities and stablecoins. The approval also allows Securitize Markets to participate in underwriting and selling groups for initial and secondary offerings, expanding Securitize's capabilities across issuance, ownership records, distribution, trading, custody and settlement.

Partnered with Cantor Fitzgerald & Co. to enable onchain IPOs and follow-on offerings for public companies: Entered into shortly after 2Q26, the partnership builds on the recently approved expanded capabilities for Securitize Markets to become part of IPOs and follow-on offerings using blockchain-based infrastructure to tokenize securities. By expanding the application of tokenization beyond secondary market trading, Securitize and Cantor will enable public companies to raise capital and issue securities onchain and gain access to the benefits of blockchain-based infrastructure, including enhanced transparency, improved operational efficiency, modernized ownership records, and a global onchain investor base, while still operating within the established capital markets framework of traditional public offerings.

Securitize was chosen as the tokenization partner of Atlas Capital to launch USAFi under Dubai's VARA framework: This product is economist Dr. Nouriel Roubini's first move into the blockchain and the first project for Securitize to issue an asset under Dubai's VARA Asset Reference Virtual Asset Rulebook. USAFi is a digital security backed by the Atlas America Fund, an SEC-registered, actively managed ETF (NASDAQ: USAF) with reserve assets custodied at BNY. It is designed to let regulated, institutional-grade collateral trade with 24/7 accessibility and portability.

Securitize Fund Services and Upshift Partner to deliver institutional-grade reporting for onchain vaults: As the onchain economy continues to grow, vaults are becoming one of the main access points for onchain yield; Securitize Fund Services partnered with Upshift (an institutional-grade onchain yield platform) to add independent, audit-ready reporting, investor-level allocation transparency, performance validation, and reconciliation for onchain vaults. This brings traditional fund administration standards to DeFi-style vault infrastructure.

Grew tokenized assets, institutional products and onchain finance integrations: Securitize added approximately $1 billion in AUM during the second quarter, recovering from crypto-driven declines over the prior two quarters. Average AUM was up 16% YoY, with more than seven assets crossing the $100 million AUM mark. Securitize continues to be the largest tokenization platform and the only one above $4 billion in AUM. BlackRock's BUIDL became available as yield-bearing collateral through a framework involving OKX and Standard Chartered, extending its use into institutional trading and collateral-management workflows. Securitize also expanded the Securitize Tokenized AAA CLO Fund (STAC) to include Solana, followed by Ethena Labs' USDe $250 million allocation to the fund. The Company further expanded its multichain infrastructure through an integration with TRON, the second-largest stablecoin blockchain, to continue enhancing the distribution of tokenized assets.

Key leadership and Board roles filled: During the second quarter, Securitize⁽⁶⁾ appointed Brett Redfearn as President and a member of the Board of Directors. Redfearn, the former director of the SEC's Division of Trading and Markets, joined Securitize to help lead its next stage of growth. His appointment strengthens the Company's expertise across market structure, regulation, and institutional capital markets. Additionally, Securitize⁽⁶⁾ appointed Sunil Sabharwal to its Board of Directors. Sabharwal has broad and deep experience across payments, financial infrastructure, international markets, and public policy. His appointment further strengthens the oversight of the Company's governance as a public company.

Second Quarter 2026 Financial Results

Francisco Flores, Chief Financial Officer, commented: "We continued to make solid progress on our financial goals in the second quarter, reporting total revenue of $14.4 million. While our quarterly revenue can be volatile at this stage of Securitize's growth, we remain focused on driving top-line growth by making the necessary investments to expand our businesses, strengthen our capabilities, and capitalize on the opportunities ahead. As we scale as a public company, given the underlying operating leverage we see in the business, delivering positive adjusted EBITDA will remain an important near-term goal. Importantly, we closed the business combination one day after quarter-end, leaving Securitize in a strong liquidity position – with approximately $350 million in cash and no debt on our balance sheet – as we entered the third quarter."

Securitize will host a conference call tomorrow, August 13, 2026, at 8:30 a.m. (ET) to present second-quarter 2026 financial results. The general public can access the conference call by dialing the following numbers: +1(833) 461-5787 or +1(626) 884-3620 (for North American callers). For international callers, please find your local dial-in information here: https://help.events.q4inc.com/eahc/international-dial-in-numbers. The participant passcode for all callers is 815 954 037.

The live audio webcast and presentation slides will be available on the Company's investor relations website, https://investors.securitize.io/events-and-presentations/. A replay and transcript of the webcast will be available shortly after the event.

SECURITIZE, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)	Three Months Ended June 30,						Six Months Ended June 30,
	2026		2025		YoY Change		2026		2025		YoY Change
Revenue	$14,435,845		$15,262,176		(5) %		$33,914,311		$29,296,195		16 %
Tokenization	$7,839,139		$8,874,393		(12) %		$18,974,344		$20,136,056		(6) %
Asset Servicing	$6,596,706		$6,387,783		3 %		$14,939,967		$9,160,139		63 %
Operating costs and expenses:
Cost of revenue (exclusive of items shown below)	3,981,122		3,532,624		13 %		8,451,012		5,279,281		60 %
Selling, general & administrative	8,217,259		3,523,906		133 %		15,955,352		6,845,087		133 %
Compensation and benefits	10,547,883		8,031,538		31 %		19,648,481		20,005,074		(2) %
Provision for expected credit losses	1,315,134		111,885		1,075 %		1,600,587		186,273		759 %
Loss on digital assets from operations, net	82,705		259,910		(68) %		369,297		1,110,570		(67) %
Total operating costs and expenses	24,144,103		15,459,863		56 %		46,024,729		33,426,285		38 %
Loss from operations	(9,708,258)		(197,687)		4,811 %		(12,110,418)		(4,130,090)		193 %
Other income (expense):
Interest expense	(1,105,915)		(1,389,167)		(20) %		(3,374,490)		(2,840,058)		19 %
Interest income	176,391		347,802		(49) %		413,505		515,293		(20) %
Dividend income	87,581		43,313		102 %		241,033		85,147		183 %
Loss on digital assets held for investment, net	(512,615)		—		n/m		(1,433,082)		—		n/m
Other income (expense), net	1,145,805		(148,833)		870 %		1,735,797		431,677		302 %
Change in fair value of option liability	(29,266,000)		(977,000)		(2,895) %		(29,176,000)		(487,000)		(5,891) %
Change in fair value of simple agreements for future equity	(4,310,000)		(383,000)		(1,025) %		(5,678,000)		(449,000)		(1,165) %
Change in fair value of derivative liability	21,843,000		(2,754,000)		893 %		19,842,000		(3,044,000)		752 %
Total other expense, net	(11,941,753)		(5,260,885)		127 %		(17,429,237)		(5,787,941)		201 %
Net loss from continuing operations before income taxes	(21,650,011)		(5,458,572)		297 %		(29,539,655)		(9,918,031)		198 %
Provision for income taxes	(39,191)		(80,216)		(51) %		(82,199)		(162,275)		(49) %
Net loss from continuing operations	$(21,689,202)		$(5,538,788)		292 %		$(29,621,854)		$(10,080,306)		194 %
Net loss from discontinued operations	—		(607,515)		(100) %		—		(1,190,854)		(100) %
Net loss	$(21,689,202)		$(6,146,303)		253 %		$(29,621,854)		$(11,271,160)		163 %
Deemed dividend to preferred stockholders	—		—				—		(1,493,539)		(100) %
Net loss attributable to common stockholders	$(21,689,202)		$(6,146,303)		253 %		$(29,621,854)		$(12,764,699)		132 %
Net loss per share of common stock and Class A common stock - basic and diluted	$(2.37)		$(0.72)		231 %		$(3.29)		$(1.48)		122 %
Net loss from continuing operations per share of common stock and Class A common stock - basic and diluted	$(2.37)		$(0.65)		267 %		$(3.29)		$(1.34)		145 %
Net loss from discontinued operations per share of common stock and Class A common stock - basic and diluted	$—		$(0.07)		(100) %		$—		$(0.14)		(100) %
Weighted average common stock and Class A common stock shares outstanding - basic and diluted	9,139,723		8,570,963		7 %		8,993,202		8,616,139		4 %
Other comprehensive income:
Foreign currency translation adjustment	72,399		260,059		(72) %		122,285		333,287		(63) %
Total other comprehensive income	72,399		260,059		(72) %		122,285		333,287		(63) %
Comprehensive loss	$(21,616,803)		$(5,886,244)		267 %		$(29,499,569)		$(10,937,873)		170 %

 

SECURITIZE, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)	June 30, 2026		December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$   33,599,243		$        24,871,555
Digital assets from operations	99,915		2,023,098
Digital assets held for investment	887,928		—
Digital assets receivable	1,831,093		2,500,102
Customer escrow funds	18,106,706		44,293,388
Restricted tokenized assets	—		1,722,665
Investments in available-for-sale marketable securities	444,058		928,037
Investments in tokenized assets	7,651,765		12,034,881
Accounts receivable, net	9,120,623		5,321,337
Accounts receivable, related parties	460,213		594,435
Contract assets	15,122,608		12,289,139
Digital assets loan receivable	—		99,647
Digital assets loan receivable, related parties	—		290,356
Deferred offering costs	7,112,971		3,041,602
Prepaid expenses and other current assets	3,043,115		2,396,986
Total current assets	97,480,238		112,407,228
Digital assets receivable, noncurrent	1,690,610		1,556,218
Contract assets, noncurrent	1,081,243		2,982,075
Notes receivable, related parties	8,766,201		5,183,987
Intangible assets, net	20,130,639		20,683,828
Goodwill	26,365,270		26,365,270
Other noncurrent assets	601,415		596,519
Total assets	$ 156,115,616		$      169,775,125
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable	$        693,723		$          2,779,997
Digital asset borrowings	—		101,109
Obligation to return collateral	—		1,722,665
Accrued expenses and other current liabilities	13,749,798		4,273,592
Interest payable	6,114,314		5,096,492
Customer escrow funds payable	18,103,958		44,187,723
Deferred revenue	1,148,727		5,154,656
Option prepayment liability	20,000,000		—
Total current liabilities	59,810,520		63,316,234
Deferred revenue, noncurrent	993,665		1,348,701
Simple agreements for future equity	16,127,000		10,449,000
Convertible promissory notes payable, net	74,948,845		72,562,079
Derivative liability	6,328,000		26,170,000
Option liability	40,566,000		11,390,000
Deferred tax liability	342,015		263,634
Total liabilities	199,116,045		185,499,648
Commitments and contingencies (See Note 17)
Mezzanine equity:
J Digital 6 warrants	1,169,721		731,076
Series B-4 redeemable convertible preferred stock, 2,089,457 shares authorized, issued and outstanding (preference in liquidation of $45,132,272 for both periods)	42,348,900		42,348,900
Series B-3 redeemable convertible preferred stock, 1,219,998 shares authorized, issued and outstanding (preference in liquidation of $21,959,964 for both periods)	21,969,898		21,969,898
Series B-2 redeemable convertible preferred stock, 2,630,197 shares authorized, issued and outstanding (preference in liquidation of $19,103,384 for both periods)	24,387,798		24,387,798
Series B-1 redeemable convertible preferred stock, 2,881,387 shares authorized, issued and outstanding (preference in liquidation of $26,159,824 for both periods)	21,407,747		21,407,747
Series A redeemable convertible preferred stock, 2,999,412 shares authorized, issued and outstanding (preference in liquidation of $14,501,257 for both periods)	14,700,686		14,700,686
Total mezzanine equity	125,984,750		125,546,105
Stockholders' deficit:
Common stock, $0.0001 par value; 28,059,331 shares authorized at June 30, 2026 and December 31, 2025; 8,700,776 shares issued at June 30, 2026 and December 31, 2025; 8,550,776 shares outstanding at June 30, 2026 and December 31, 2025.	870		870
Class A common stock, $0.0001 par value; 5,100,000 shares authorized at June 30, 2026 and December 31, 2025; 809,230 and 293,768 issued and outstanding at June 30, 2026 and December 31, 2025, respectively.	81		29
Treasury stock, 150,000 shares at cost	(1,599,978)		(1,599,978)
Additional paid-in capital	26,521,873		24,736,907
Accumulated deficit	(195,124,692)		(165,502,838)
Accumulated other comprehensive income	1,216,667		1,094,382
Total stockholders' deficit	(168,985,179)		(141,270,628)
Total liabilities, mezzanine equity and stockholders' deficit	$ 156,115,616		$      169,775,125

 

SECURITIZE, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)		Six Months Ended June 30,
		2026		2025
Cash flows from operating activities:
Net loss		$           (29,621,854)		$           (11,271,160)
Net loss from discontinued operations		—		1,190,854
Net loss from continuing operations		(29,621,854)		(10,080,306)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		1,105,431		914,333
Provision for expected credit losses		1,600,587		186,273
Share-based compensation expense		1,373,774		8,677,983
Accretion of debt discount		2,386,766		1,508,376
Net losses (gains) from investments		(1,950,878)		(710,231)
Loss on digital assets held for investment, net		1,433,082		—
Loss on digital assets from operations, net		369,297		1,110,570
Deferred tax provision		78,381		30,510
Change in fair value of simple agreement for future equity		5,678,000		449,000
Change in fair value of derivative liability		(19,842,000)		3,044,000
Change in fair value of option liability		29,176,000		487,000
Changes in operating assets and liabilities, net of effects of business acquisitions and divestitures:
Digital assets from operations		(98,115)		(985,328)
Digital assets receivable		(134,392)		(6,425,985)
Customer escrow funds		26,186,682		2,397,566
Accounts receivable		(5,399,873)		(4,576,873)
Accounts receivable, related parties		134,222		248,973
Contract assets		(932,637)		(4,892,310)
Prepaid expenses and other current assets		(646,129)		(1,275,362)
Accounts payable		(2,111,162)		(365,550)
Accrued expenses and other current liabilities		6,910,195		936,405
Interest payable		1,017,822		1,499,021
Customer escrow funds payable		(26,083,765)		(2,391,578)
Deferred revenue		(4,360,965)		(398,193)
Cash used in operating activities from continuing operations		(13,731,531)		(10,611,706)
Cash used in operating activities from discontinued operations		—		(356,854)
Net cash flows used in operating activities		(13,731,531)		(10,968,560)
Cash flows from investing activities:
Purchases of investments in available-for-sale marketable securities		(642,203)		(474,152)
Proceeds from sales and redemptions of investments and available-for-sale marketable securities		1,151,827		870,493
Acquisition of a business, net of cash acquired		—		(21,090,525)
Proceeds from partial repayments of notes receivable, related parties		745,910		195,635
Originations of and disbursements for notes receivable, related parties		(2,795,910)		(772,500)
Purchases of tokenized assets for investment		—		(644,767)
Proceeds from redemptions of tokenized assets for investment		5,065,029		—
Purchases of equipment and other long-lived assets		(557,138)		(3,702)
Proceeds from participation and closing positions in DeFi activities		—		21,984,830
Investment activities in DeFi involving use of cash equivalents		—		(1,772,127)
Net cash flows provided by (used in) investing activities		2,967,515		(1,706,815)
Cash flows from financing activities:
Proceeds from issuance of note payable, related party		—		945,343
Proceeds from option prepayment liability		20,000,000		—
Payment of deferred offering costs		(1,480,470)		—
Proceeds from options exercised		849,889		46,905
Net cash flows provided by financing activities		19,369,419		992,248
Effect of exchange rate changes on cash		122,285		333,287
Net increase (decrease) in cash and cash equivalents		8,727,688		(11,349,840)
Cash and cash equivalents from continuing operations, beginning of period		24,871,555		21,788,225
Cash and cash equivalents from discontinued operations, beginning of period		—		175,233
Less: Cash and cash equivalents from discontinued operations, end of period		—		(98,016)
Cash and cash equivalents from continuing operations, end of period		$            33,599,243		$            10,515,602
Supplemental disclosure of cash flow information and non-cash transactions:
Income taxes paid		$                 193,567		$                   19,479
Digital assets loan receivables originated		—		24,225,263
Digital assets loan receivables repaid		390,003		10,081,943
Digital assets received as collateral		—		28,497,830
Digital assets received as collateral returned		1,351,493		10,081,940
Digital assets borrowed		—		24,868,207
Digital assets borrowed repaid		101,109		31,000,000
Digital assets pledged as collateral		—		29,247,464
Digital assets pledged as collateral returned		1,711,530		31,106,687
Digital assets exchanged with collateral		371,172		—
Non-cash additions or transfers of digital asset investments		2,321,010		—
Non-cash investment asset participation in DeFi activities		277,759		1,168,648
Deferred offering costs in accounts payable and accrued expenses		5,489,048		—
Series B-4 preferred stock issued in exchange of common stock		—		6,325,845
Reissuance of Series A, B-1, and B-2 preferred stock at fair value in secondary transaction		—		1,493,539
Retirement of common stock reacquired in exchange of preferred stock		—		6,325,845
Deemed dividend on reissuance of preferred stock at fair value in secondary transaction		—		1,493,539

The following tables reconcile Adjusted EBITDA to Net loss from continuing operations, its most closely comparable GAAP financial measure, for the three and six months ended June 30, 2026 and 2025:

Reconciliation of GAAP to Non-GAAP Results
	Three Months Ended June 30,
(Unaudited)	2026		2025
Net loss from continuing operations	$         (21,689,202)		$              (5,538,788)
Add back:
Depreciation and amortization	517,497		600,919
Provision for expected credit losses	1,315,134		111,885
Share-based compensation expense	537,186		1,246,979
Provision for income taxes	39,191		80,216
Interest income	(176,391)		(347,802)
Interest expense	1,105,915		1,389,167
Dividend income	(87,581)		(43,313)
Loss on digital assets held for investment, net	512,615		—
Other income (expense), net	(1,145,805)		148,833
Change in fair value of simple agreements for future equity, embedded derivatives, and option liability	11,733,000		4,114,000
Acquisition related transaction costs	—		43,931
Professional fees and other one‑time public company readiness costs	1,879,717		—
Adjusted EBITDA	$           (5,458,724)		$               1,806,027
	Six Months Ended June 30,
(Unaudited)	2026		2025
Net loss from continuing operations	$         (29,621,854)		$            (10,080,306)
Add back:
Depreciation and amortization	1,105,431		914,333
Provision for expected credit losses	1,600,587		186,273
Share-based compensation expense	1,373,774		8,677,983
Provision for income taxes	82,199		162,275
Interest income	(413,505)		(515,293)
Interest expense	3,374,490		2,840,058
Dividend income	(241,033)		(85,147)
Loss on digital assets held for investments, net	1,433,082		—
Other income (expense), net	(1,735,797)		(431,677)
Change in fair value of simple agreements for future equity, embedded derivatives, and option liability	15,012,000		3,980,000
Acquisition related transaction costs	—		290,000
Professional fees and other one‑time public company readiness costs	3,403,127		—
Adjusted EBITDA	$           (4,627,499)		$               5,938,499

(1) The financial results herein are for Securitize I, Inc. (f/k/a Securitize, Inc.) and were achieved prior to the completion of the companies' business combination with Cantor Equity Partners II, Inc., which occurred on July 1, 2026. As part of that business combination, Securitize, Inc. was renamed as Securitize I, Inc. and became a wholly owned subsidiary of Securitize Corp.

(2) AUM refers to Tokenized Assets Under Management.

(3) Adjusted EBITDA is a non-GAAP financial metric. Securitize generally reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). However, management believes that the evaluation of its ongoing operating results may be enhanced by a presentation of Adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA represents net loss from continuing operations adjusted for  the items detailed in the reconciliation tables included in this release. Securitize believes that the use of Adjusted EBITDA provides an additional meaningful method of evaluating certain aspects of its operating performance from period to period on a basis that may not be otherwise apparent under GAAP when used in addition to, and not in lieu of, GAAP measures. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, net loss or other measures of financial performance prepared in accordance with GAAP. Other companies, including companies in Securitize's industry, may calculate Adjusted EBITDA differently or may use other measures to evaluate their performance, which reduces the usefulness of Adjusted EBITDA as a comparative measure. In addition, Adjusted EBITDA excludes changes in the fair value of simple agreements for future equity, derivative liabilities, and option liabilities, which have been significant to Securitize's results of operations in the periods presented.

(4) Aggregate Transaction Volume represents aggregate volume of investments, redemptions, dividends, and cross chain movements of assets issued by Securitize's platform.

(5) AUA refers to Assets Under Administration.

(6) Board appointments of Redfearn and Sabharwal were made by Securitize, Inc. Following the business combination referred to above in note (1), both Redfearn and Sabharwal were subsequently appointed to the Board of Directors of Securitize Corp.

About Securitize
Securitize, the world's leader in tokenizing real-world assets with approximately $5B of AUM (as of July 2026), is bringing the world onchain through tokenized funds in partnership with top-tier asset managers, such as Apollo, BlackRock, BNY, Hamilton Lane, KKR, VanEck and others.

In the U.S., Securitize operates through its affiliates, including Securitize Markets, LLC, an SEC-registered broker-dealer and member FINRA/SIPC that operates an SEC-regulated Alternative Trading System (ATS); Securitize Transfer Agent, LLC, an SEC-registered transfer agent; Securitize Capital LLC, an SEC-registered investment adviser; and Securitize Fund Services, LLC, which provides fund administration and digital asset reporting services. In Europe, Securitize operates through its affiliate Securitize Europe Brokerage and Markets, S.A., which is fully authorized as an Investment Firm and operates a Trading & Settlement System (TSS) under the EU DLT Pilot Regime, making Securitize the only company licensed to operate regulated digital-securities infrastructure across both the U.S. and EU. Securitize has also been recognized as a 2026 Forbes Top 50 Fintech company. 

For more information, please visit:
Website | X/Twitter | LinkedIn

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements regarding Securitize Corp.'s ("Securitize") future results of operations and financial position, business strategy, and plans and objectives of management for future operations, are forward-looking statements.

Forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "potential," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties.

Many factors could cause actual results to differ materially from those described in these forward-looking statements, including, but not limited to: regulatory developments relating to digital assets and tokenization; market volatility; competition; and those risks factors described in the filings of Securitize Corp.

Forward-looking statements speak only as of the date they are made. Securitize Corp. does not undertake any obligation to update or revise any forward-looking statements, except as required by law.

Securitize Contacts:

Press:
Tom Murphy
press@securitize.io 

Investor Relations:
Sam Ross
investor.relations@securitize.io 

Source: Securitize (NYSE: SECZ)
XNYS:SECZ

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SOURCE Securitize

FAQ

What were Securitize (NYSE: SECZ) Q2 2026 revenue and net loss?

Securitize reported Q2 2026 revenue of $14.4 million and a net loss of $21.7 million. According to Securitize, this represents a 5% year-over-year revenue decline and a net loss per diluted share of $2.37, significantly larger than the prior-year quarter.

How much tokenized assets did Securitize manage onchain in Q2 2026?

Securitize reported record average tokenized AUM of $4.3 billion in Q2 2026. According to Securitize, total tokenized AUM was also $4.3 billion at June 30, 2026, and it added about $1 billion in AUM during the quarter after earlier crypto-driven declines.

What drove Securitize’s increased net loss in Q2 2026?

Securitize’s net loss rose to $21.7 million, mainly alongside sharply higher operating expenses and fair-value items. According to Securitize, total operating costs and expenses increased 56% year over year, SG&A rose 133%, and changes in option and SAFE liabilities materially affected total other expense.

What key partnerships did Securitize (SECZ) announce around Q2 2026?

Securitize announced partnerships with Computershare, Continental, Cantor Fitzgerald, Jump, Jupiter, Atlas Capital and Upshift. According to Securitize, these collaborations target issuer-sponsored tokenized equities, onchain IPOs, institutional liquidity, USAFi under Dubai VARA, and institutional-grade reporting for onchain vaults.

What is Securitize’s liquidity position after the Q2 2026 business combination?

Securitize entered Q3 2026 with about $350 million in cash and no debt. According to Securitize’s CFO, the business combination closed one day after quarter-end, leaving the company in what it describes as a strong liquidity position to fund growth and pursue positive adjusted EBITDA.

How did Securitize Fund Services perform in Q2 2026?

Securitize Fund Services administered 663 active funds and AUA of $24.3 billion as of June 30, 2026. According to Securitize, this assets-under-administration figure was down approximately 20% year over year, even as it expanded institutional-grade reporting through a partnership with Upshift.

What is USAFi and how is it related to the USAF ETF?

USAFi is a digital security issued with Atlas Capital and backed by the Atlas America Fund (NASDAQ: USAF). According to Securitize, USAFi is launched under Dubai’s VARA framework to let regulated ETF-based collateral trade onchain with 24/7 accessibility and portability.