Securitize reported first-quarter revenue of $19.5 million, a 39% year-over-year increase and the highest quarterly revenue in its history. Asset servicing revenue surged 201% to $8.3 million, driven by its Fund Services business servicing 650 active funds. Tokenization revenue was $11.1 million, flat from the prior year. The company had $3.4 billion in tokenized assets under management, $24.9 billion in assets under administration, and $1.9 billion in aggregated transaction volume. Despite revenue growth, net loss widened to $7.9 million due to increased spending on expansion and preparations for its merger with Cantor Equity Partners II. The company remained profitable on an adjusted EBITDA basis at $800,000, down from $4.1 million. CFO Francisco Flores highlighted disciplined expense management and strong operating leverage. Securitize's SPAC merger would make it a rare publicly traded company focused on tokenized securities. Shares of CEPT rose 5% on the news.

Key facts

• Q1 revenue hit record $19.5M, up 39% YoY
• Asset servicing revenue surged 201% to $8.3M
• Net loss widened to $7.9M on merger preparation costs
• Company had $3.4B in tokenized assets under management
• SPAC merger with Cantor Equity Partners II progressing

KeyAudit data perspective