Securitize reported a $66.3 million net loss for the third quarter, its first reporting period as a public company on the New York Stock Exchange. Revenue rose 13% from a year earlier to $18.6 million, marking a sharp contrast with the 5% year-over-year decline seen in the second quarter. The board authorized a $50 million share buyback program open through December 31, 2027. Average tokenized assets climbed 39% from a year ago to hit an internal record of $5 billion. Adjusted EBITDA stood at a $2.0 million loss during the period.
Listing Charges and Market Reaction
Chief Financial Officer Francisco Flores stated that about $60 million of the total loss came from largely non-cash expenses and accounting charges tied to the business combination and public listing. Earnout liabilities produced a $23.2 million charge after the stock price moved from $11.78 at the deal close to $14.59 on September 30. "If our share price at the year end were at today’s level, we would expect to record a meaningful non-cash gain in the fourth quarter," Flores said on the earnings call. The stock closed Monday at $6.97 before surging 12.20% in after-hours trading to reach $7.82 following the release. Investors appear confident that the heavy initial costs will not define the firm’s long-term trajectory despite the significant paper loss.
Acquiring River One for Financing
Securitize agreed to acquire River One, a platform that offers financing to institutions against pools of income-generating assets like loans and receivables. Framework Ventures and Maple Finance backed the company, which was founded in 2025 and uses stablecoin capital to fund facilities while borrowers draw and repay in ordinary dollars. This transaction allows the firm to enter the $6 trillion global private asset-backed finance market by adding a new layer of financing alongside existing tokenized offerings. Carlos Domingo, Chairman and CEO, noted that the deal enables participation in asset origination and lending markets. Securitize expects to complete the purchase by year-end but is not disclosing financial terms. The company still projects total revenue between $70 million and $80 million for 2026.
