Reporting · companies
Securitize posts $66.3 million loss in third quarter as first NYSE-listed quarter
Securitize, now NYSE-listed, reported a third-quarter net loss of $66.3 million on revenue of $18.6 million, and agreed to buy River One.
Quick take
- The third-quarter net loss, the first as a NYSE-listed company, reached $66.3 million.
- Non-cash charges accounted for roughly $60 million of the loss, even as revenue climbed 13% to $18.6 million.
- The company authorized a $50 million buyback and agreed to acquire River One, with closing expected by year-end.
Unchained reported that Securitize, which trades under the ticker SECZ, recorded a net loss of $66.3 million in the third quarter, its first quarter as a New York Stock Exchange-listed company. The firm's third-quarter revenue rose 13% to $18.6 million, according to the figures it released. Securitize's chief financial officer, Francisco Flores, walked through the results on an earnings call on Nov. 9.
Roughly $60 million of the loss stemmed from non-cash charges, the company said, and a further $23.2 million charge tied to an earnout liability was also recorded. On an adjusted EBITDA basis, the company posted a loss of $2.0 million.
Directors approved a share buyback worth $50 million, which runs through Dec. 31, 2027. Securitize also agreed to buy River One on terms that were not disclosed, and the deal is expected to close by year-end. Guidance for 2026 calls for revenue between $70 million and $80 million.
Sources
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