After Securitize's IPO, the first earnings report fell short of expectations, leading to a 20% post-market stock price plunge.

BlockBeats News, August 13th, according to BIT (bit.com) market data, Securitize (SECZ) stock price plummeted 20% in Wednesday's after-hours trading. The tokenization company failed to meet Wall Street's expectations for the second quarter in its first earnings report released after last month's IPO.

The company is known for issuing and managing BlackRock's BUIDL tokenized money market fund. The report shows revenue of $14.4 million, a 5% decrease from the same period last year, below analysts' estimated $20.6 million.

Securitize reported a loss per share of $2.37, much higher than the expected loss of $0.15. The net loss amounted to $21.7 million, with adjusted EBITDA shifting from a profit of $1.8 million in the same period last year to a loss of $5.5 million.