Securitize tumbles as quarterly revenue slips, expenses surge
BUZZ-Securitize tumbles as quarterly revenue slips, expenses surge ** Shares of tokenizing platform Securitize SECZ.N slump 20% to $6.3
** On Wednesday after markets closed, co reported Q2 total revenue of $14.4 million, down 5% versus the prior-year period
** Reported adjusted EBITDA loss of $5.5 million, versus positive adjusted EBITDA of $1.8 million in the prior-year period
** Revenue from tokenization fell 12% to $7.8 million in Q2 and total operating costs and expenses rose 56% to $24.1 million
** All three analysts covering the stock rate it "buy"; their median PT is $15 — data compiled by LSEG
** Including session's move, stock down 44.5% YTD
(Reporting by Pragyan Kalita in Bengaluru)
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