Securitize shares plunge 20% after first earnings since listing miss Wall Street estimates

On Aug. 13, Securitize (SECZ) plunged 20% in Wednesday's after-hours trading, according to market data from BIT (bit.com) cited by BlockBeats. The tokenization firm, known for issuing and managing BlackRock's BUIDL tokenized money market fund, published its first earnings report since going public last month. That report missed Wall Street's targets for the second quarter. Revenue came to $14.4 million, down 5% from a year earlier and roughly 30% below the $20.6 million analysts had forecast; the shortfall was about $6.2 million. The company reported a loss of $2.37 per share, more than 15 times the $0.15 loss that analysts expected. Net loss was $21.7 million. Adjusted EBITDA swung to a $5.5 million loss from a $1.8 million profit in the same period a year ago. The stock trades under the ticker SECZ, and the after-hours data came from BIT (bit.com). Wednesday's decline came after the company's first earnings release as a listed company.