Securitize's first earnings report after listing fell short of expectations, and the stock price plummeted 20% after the market

Comparative news, according to BIT (bit.com) market data, Securitize (SECZ) shares plummeted 20% during Wednesday's after-hours trading. The tokenization company failed to meet Wall Street's expectations for the second quarter in its first earnings report after going public last month.

The company is known for issuing and managing BlackRock's BUIDL tokenized money market fund. The report showed revenue of $14.4 million, down 5% from the same period last year, and lower than analysts' estimates of $20.6 million.

Securitize lost $2.37 per share, while the expected loss was just $0.15. Net losses totaled $21.7 million, and adjusted EBITDA changed from a profit of $1.8 million in the same period last year to a loss of $5.5 million.