Securitize reports Q3 growth, acquires River One and authorizes buyback
Business · First reported 9 Nov, 21:24 · Updated 21:55
Securitize reported higher revenue and tokenized-asset volume in the third quarter, alongside increased operating costs. It also announced its River One acquisition and authorized a $50 million share buyback.
- Third-quarter revenue rose 28% year over year to $11.5 million, while tokenized assets on the platform reached $4.8 billion.
- Securitize reported a $2 million adjusted EBITDA loss and a 183% increase in operating costs and expenses.
- The company announced it would acquire River One, an asset-backed financing platform, and its board authorized a $50 million share buyback.
Summary written by Sumzly from 2 articles
Key facts
- Q3 revenue
- $11.5 million, up 28% year over year
- Tokenized assets
- $4.8 billion, up 9% year over year
- Transaction volume
- $4.3 billion, up 20% year over year
- Adjusted EBITDA
- $2 million loss, versus positive $3.6 million a year earlier
- Share buyback
- $50 million authorized by the board
- River One acquisition
- Terms were not disclosed
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