Securitize Corp. (SECZ): Results of Operations and Financial Condition
Securitize Corp. (SECZ) filed an SEC Form 8-K — Results of Operations and Financial Condition. Securitize Reports Second Quarter 2026 Results MIAMI, August 12, 2026 — 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 ,
How this was made
The 30-second read
Why it matters
Traders can reassess SECZ’s near-term earnings power and the credibility of its regulatory and partner-driven distribution strategy based on the new quarterly metrics and approvals.
Market read
Fresh quarterly financials plus new regulatory and partnership catalysts provide a basis to reprice SECZ’s growth versus profitability trajectory.
What to watch
Investors may underweight the quality of AUM growth (mix, fee-bearing vs pass-through) and the sustainability of transaction volume growth versus one-off onboarding effects.
Securitize reported $14.4 million of total revenue, down 5% versus the prior-year period, alongside a $21.7 million net loss and a $5.5 million Adjusted EBITDA loss.
Asset Servicing revenue, average tokenized AUM, transaction volume and institutional infrastructure initiatives advanced, but total revenue declined, Tokenization revenue fell, operating costs increased and the Company recorded a substantially wider net loss and Adjusted EBITDA loss.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total RevenueGAAP | $14,435,845 | – | (5)% |
| Cost of revenue (exclusive of items shown below)GAAP | 3,981,122 | – | 13% |
| Selling, general & administrativeGAAP | 8,217,259 | – | 133% |
| Compensation and benefitsGAAP | 10,547,883 | – | 31% |
| Provision for expected credit lossesGAAP | 1,315,134 | – | 1,075% |
| Loss on digital assets from operations, netGAAP | 82,705 | – | (68)% |
| Total operating costs and expensesGAAP | 24,144,103 | – | 56% |
| Loss from operationsGAAP | (9,708,258) | – | 4,811% |
| Interest expenseGAAP | (1,105,915) | – | (20)% |
| Interest incomeGAAP | 176,391 | – | (49)% |
| Dividend incomeGAAP | 87,581 | – | 102% |
| Loss on digital assets held for investment, netGAAP | (512,615) | – | n/m |
| Other income (expense), netGAAP | 1,145,805 | – | 870% |
| Change in fair value of option liabilityGAAP | (29,266,000) | – | (2,895)% |
| Change in fair value of simple agreements for future equityGAAP | (4,310,000) | – | (1,025)% |
| Change in fair value of derivative liabilityGAAP | 21,843,000 | – | 893% |
| Total other expense, netGAAP | (11,941,753) | – | 127% |
| Net loss from continuing operations before income taxesGAAP | (21,650,011) | – | 297% |
| Provision for income taxesGAAP | (39,191) | – | (51)% |
| Net lossGAAP | $21.7 million | – | – |
| Net loss per diluted shareGAAP | $2.37 | – | – |
| Adjusted EBITDA lossnon-GAAP | $5.5 million | – | – |
| Average tokenized AUMother | $4.3 billion | – | 16% |
| Total AUMother | $4.3 billion as of June 30, 2026 | – | 9% |
| Aggregate Transaction Volumeother | $5.3 billion during the second quarter of 2026 | – | 147% |
| Active funds serviced by Securitize Fund Servicesother | 663 as of June 30, 2026 | – | – |
| Securitize Fund Services total AUAother | $24.3 billion as of June 30, 2026 | – | down approximately 20% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| TokenizationNot provided. | $7,839,139 | – | (12)% |
| Asset ServicingNot provided. | $6,596,706 | – | 3% |
What drove it
- Average tokenized AUM was up 16% YoY, and total AUM was up 9% as of June 30, 2026.
- Aggregate Transaction Volume was up 147% during the second quarter of 2026.
- Securitize added approximately $1 billion in AUM during the second quarter, recovering from crypto-driven declines over the prior two quarters.
- Securitize Markets received FINRA approval to custody tokenized securities and to participate in underwriting and selling groups for initial and secondary offerings.
- Computershare and Continental Stock Transfer & Trust selected Securitize for tokenization.
- Securitize partnered with Cantor Fitzgerald & Co. shortly after 2Q26 to enable onchain IPOs and follow-on offerings for public companies.
Concerns
- Total Revenue was down 5% versus the prior-year period.
- Tokenization revenue was down 12%.
- Total operating costs and expenses increased 56%, including a 133% increase in selling, general & administrative expense and a 1,075% increase in provision for expected credit losses.
- Loss from operations was (9,708,258), compared with (197,687) in the prior-year period.
- The Company reported a $21.7 million net loss and a $5.5 million Adjusted EBITDA loss, versus positive Adjusted EBITDA of $1.8 million in the prior-year period.
- Securitize Fund Services total AUA was down approximately 20% as of June 30, 2026.
What to watch
- Progress toward the CFO's stated near-term goal of delivering positive adjusted EBITDA.
- Whether investments to expand businesses and capabilities translate into top-line growth, given management's statement that quarterly revenue can be volatile at this stage of growth.
- Execution of expanded broker-dealer capabilities, including custody, atomic settlement, underwriting and selling-group participation.
- Commercial development of tokenized-equities relationships with Computershare, Continental Stock Transfer & Trust, Jump Trading, Jupiter, NYSE and Cantor Fitzgerald & Co.
- Trends in tokenized AUM, Aggregate Transaction Volume and Securitize Fund Services total AUA.
Balance sheet and cash flow
- approximately $350 million in cash
- no debt on our balance sheet
Analysis
Securitize delivered mixed second-quarter results. Total Revenue was $14,435,845, down 5% from $15,262,176 in the prior-year period. Tokenization revenue declined 12% to $7,839,139, while Asset Servicing revenue increased 3% to $6,596,706. Operating activity indicators were stronger than reported revenue: average tokenized AUM was $4.3 billion and up 16%, total AUM was $4.3 billion as of June 30, 2026 and up 9%, and Aggregate Transaction Volume was $5.3 billion and up 147%.
Expenses materially outpaced revenue. Total operating costs and expenses rose 56% to 24,144,103, with selling, general & administrative expense up 133%, compensation and benefits up 31%, and provision for expected credit losses up 1,075%. The higher cost base contributed to a loss from operations of (9,708,258), compared with (197,687) in the prior-year period. Securitize reported a $21.7 million net loss and a $5.5 million Adjusted EBITDA loss, compared with positive Adjusted EBITDA of $1.8 million in the prior-year period.
Below operating income, the quarter included substantial fair-value movements. Change in fair value of option liability was (29,266,000), change in fair value of simple agreements for future equity was (4,310,000), and change in fair value of derivative liability was 21,843,000. Total other expense, net was (11,941,753), while net loss from continuing operations before income taxes was (21,650,011). These items are important to the gap between the operating loss and reported net loss.
The business update emphasized institutional tokenization infrastructure rather than near-term financial guidance. The Company cited relationships with Computershare, Continental Stock Transfer & Trust, Jump Trading, Jupiter, and Cantor Fitzgerald & Co., as well as FINRA approval for expanded broker-dealer capabilities. It also stated that it added approximately $1 billion in AUM during the second quarter after crypto-driven declines over the prior two quarters. Securitize Fund Services total AUA remained a pressure point at $24.3 billion as of June 30, 2026, down approximately 20%.
Capital resources were strengthened after quarter-end, according to the CFO. The business combination closed one day after quarter-end, and the Company entered the third quarter with approximately $350 million in cash and no debt on its balance sheet. No forward revenue, margin, expense, tax-rate, EBITDA or other quantitative guidance was issued, leaving the reported growth indicators, expense trajectory and management's stated objective of positive adjusted EBITDA as the principal measures to monitor.
Management, verbatim
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.
Carlos Domingo, Chairman and CEO of Securitize
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.
Carlos Domingo, Chairman and CEO of Securitize
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.
Francisco Flores, Chief Financial Officer
Not in the filing
stated, not guessed- Gross profit and gross margin were not reported.
- Operating cash flow was not reported.
- Free cash flow was not reported.
- Cash balance as of June 30, 2026 was not reported. The filing provided approximately $350 million in cash after the business combination closed one day after quarter-end.
- Balance-sheet debt amount as of June 30, 2026 was not reported. The filing stated no debt on the balance sheet after the business combination.
- Share repurchases, dividends and other capital-return figures were not reported.
- Forward quantitative guidance was not provided.
- Previous-quarter figures and quarter-over-quarter changes for reported metrics were not provided.
- Prior-year net loss per diluted share was not provided.
- Prior-year net loss was not provided in the supplied filing text.
- A full prior-year figure for net loss from continuing operations was not available in the supplied filing text because the statement was truncated after the current-period amount.
- GAAP diluted share count was not reported.
- Non-GAAP reconciliation details for Adjusted EBITDA were not provided in the supplied filing text.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The 8-K reports 2Q26 financial results and details operational milestones for Securitize’s tokenized-asset platform.
Ticker impact
Securitize filed an 8-K with 2Q26 results, including $14.4M revenue, $21.7M net loss, and record $4.3B tokenized AUM.
Near-term volatility likely tied to whether investors focus on AUM growth versus ongoing net loss and Adjusted EBITDA loss.
The filing provides fresh quarterly datapoints (AUM, revenue, losses) and new operational catalysts (FINRA approval, transfer-agent selections, NYSE listing/onchain stock), which can shift expectations for revenue take-rate and scalability.
Market effects
Reinforces momentum in tokenized-equities infrastructure, with FINRA broker-dealer custody and settlement capabilities as a gating factor for broader adoption.
Limited direct regional read-through, but NYSE listing and U.S. transfer-agent partnerships may improve U.S. institutional accessibility.
Highlights cross-border productization (e.g., Dubai VARA framework) and multichain integrations, which may broaden the addressable market for tokenized collateral.
Counterpoint
AUM growth may not translate into profitability soon, as revenue declined YoY and Adjusted EBITDA remained negative.
Key entities
- companySecuritize Corp.
NYSE-listed tokenization platform reporting 2Q26 results and business highlights in an SEC 8-K.
- partnerComputershare
Selected by Securitize as a transfer agent for issuer-sponsored tokenized shares.
- partnerContinental Stock Transfer & Trust
Selected by Securitize as a transfer agent for issuer-sponsored tokenized shares.
- regulatorFINRA
Approved Securitize Markets’ expanded broker-dealer capabilities, including custody of tokenized securities.
- venueNYSE
Securitize began trading on the NYSE shortly after quarter-end and highlighted onchain common stock at listing.
