Securitize shares tumble 20% after $14.4 million quarterly revenue miss
Business
Securitize (SECZ), known for running BlackRock's BUIDL tokenized money market fund, saw its shares fall 20% in after-hours trading on Wednesday.
The company brought in $14.4 million in revenue for the quarter, down 5% from last year and well below the expected $20.6 million.
Securitize posts $21.7 million loss, AUM +16%
The quarter was rough: Securitize reported a loss per share of $2.37, much higher than analysts predicted, and a net loss of $21.7 million.
Still, its tokenized assets under management jumped 16% to $4.3 billion, and transaction volumes soared by 147%.
CEO Carlos Domingo admitted it was a "softer" quarter but pointed out strong growth earlier this year and said there was a good beginning to the year.