v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - SECURITIZE, INC. AND SUBSIDIARIES - Securitize, Inc. and Subsidiaries - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net income (loss) $ (7,932,652) $ (5,124,857) $ (48,454,725) $ (24,287,668)
Net loss from discontinued operations, net of tax 0 583,339 6,086,562 5,861,133
Net loss from continuing operations (7,932,652) (4,541,518) (42,368,163) (18,426,535)
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation and amortization 587,934 313,414 1,891,867 1,098,881
Provision for expected credit losses 285,453 74,388 397,382 1,743,140
Share-based compensation expense 836,588 7,431,004 11,411,837 404,041
Share-based promotional expense     731,076 0
Accretion of debt discount 1,186,318 763,786 3,442,622 2,325,169
Net gains from investments (1,365,256) (2,769) (235,631) (98,730)
Loss on digital assets held for investment net 920,467 0    
Loss on digital assets from operations, net 286,592 169,338 5,113,796 0
Deferred tax provision 43,008 82,059 122,045 57,723
Change in fair value of simple agreement for future equity 1,368,000 66,000 4,735,000 95,000
Change in fair value of derivative liability 2,001,000 290,000 11,719,000 1,370,000
Change in fair value of option liability (90,000) (490,000) 6,431,000 (261,000)
Changes in operating assets and liabilities:        
Digital assets from operations 104,608 29,296    
Stablecoins and other digital assets     (3,828,348) 0
Digital assets receivable (63,701) (6,361,577) (5,760,940) 0
Customer escrow funds 28,946,509 3,514,587 (23,441,612) (16,310,587)
Contract assets 1,452,002 (912,637) (10,502,489) (4,768,725)
Prepaid expenses and other current assets (634,379) (298,300) (553,328) (1,279,168)
Accounts payable (1,473,162) 235,704 647,533 (639,804)
Accrued expenses and other current liabilities 2,473,524 (221,490) (666,913) (700,738)
Interest payable 1,083,540 725,927 2,768,398 2,328,094
Customer escrow funds payable (28,845,937) (3,508,567) 23,329,055 16,262,616
Deferred revenue (5,000,697) 1,084,925 2,965,590 2,614,161
Cash used in operating activities from continuing operations (9,092,102) (2,751,520) (15,319,840) (14,979,093)
Cash used in operating activities from discontinued operations 0 (1,227,965) (861,695) (3,548,562)
Net cash used in operating activities (9,092,102) (3,979,485) (16,181,535) (18,527,655)
Cash flows from investing activities:        
Purchase of available-for-sale debt securities held in Trust Account 0 (18,293) (1,165,583) (18,023,420)
Proceeds from sales and redemptions of investments and available-for-sale marketable securities 0 808,724 1,123,347 25,698,918
Acquisition of a business, net of cash acquired 0 25,000 (21,090,525) (5,644,898)
Proceeds from partial repayments of notes receivable, related parties     345,638 4,940,263
Originations of and disbursements for notes receivable, related parties (2,231,266) (688,098) (1,759,598) 0
Proceeds from dispositions of digital assets held for investment     0 59,854
Proceeds from redemptions of tokenized assets for investment 1,500,000 0    
Net purchases and disposals of long-lived assets (290,296) 0 (314,618) 0
Proceeds from sale of equipment and other long-lived assets 0 3,702    
Proceeds from participation and closing positions in DeFi activities     21,984,830 0
Investment activities in DeFi involving use of cash equivalents     (6,097,859) (20,721,815)
Cash used in investing activities from continuing operations     (15,782,232) (13,691,098)
Investing cash flows generated from sale of discontinued operations, net of cash disposed     2,766,644 0
Net cash used in investing activities (1,021,562) (765,460) (13,015,588) (13,691,098)
Cash flows from financing activities:        
Proceeds from issuance of note payable, related party     945,343 2,474,384
Proceeds from convertible promissory notes payable, net of issuance costs     29,992,221 49,867,511
Proceeds from options exercised 81,964 3,020 534,580 0
Payment of deferred offering costs (429,924) 0 (143,454) 0
Repayment of stockholder note     3,568,855 0
Repayment of notes payable, related party     (3,419,727) (5,000,000)
Net cash provided by financing activities (347,960) 3,020 31,477,818 47,341,895
Effect of exchange rate changes on cash 49,886 73,228 627,402 106,250
Net increase in cash and cash equivalents (10,411,738) (4,668,697) 2,908,097 15,229,392
Cash – beginning of the period 24,871,555 21,788,225 21,788,225 6,627,289
Cash and cash equivalents from discontinued operations, beginning of period 0 94,200 0 175,233
Less: Cash and cash equivalents from discontinued operations, end of period 0 (94,200) 0 (175,233)
Cash – end of the period 14,459,817 17,200,561 24,871,555 21,788,225
Supplemental disclosure of cash flow information and non-cash transactions:        
Income taxes paid 0 19,479 59,058 33,173
Income Tax Paid, after Refund Received, Adjustment     0 52,278
Cash paid for interest     200,158 84,439
Fair value of common stock issued as consideration in business combination     0 53,539
Digital assets loan receivables originated 0 3,036,255 30,217,233 15,000,000
Digital assets loan receivables repaid 390,003 5,000,000 44,017,407 0
Digital assets received as collateral 0 3,990,890 34,565,947 15,000,000
Digital assets received as collateral returned 1,351,493 5,000,000 47,937,435 0
Digital assets borrowed 0 3,654,465 30,217,234 36,000,000
Digital assets borrowed repaid 101,109 5,000,000 66,116,125 0
Digital assets pledged as collateral 0 4,702,304 34,565,947 36,000,000
Digital assets pledged as collateral returned 1,711,530 5,000,000 68,937,437 0
Digital assets exchanged with collateral 371,172 0    
Non-cash additions or transfers of digital asset investments 2,098,272 0    
Non-cash investment assets participating in DeFi activities 0 896,495 6,097,859 21,000,000
Deferred offering costs in accounts payable and accrued expenses 1,790,772 0 2,898,148 0
Series B-4 preferred stock issued in exchange of common stock 0 6,325,845 6,325,845 0
Reissuance of Series A, Series B-1, and Series B-2 preferred stock at fair value in secondary transaction 0 (1,493,539) 1,493,539 0
Retirement of common stock reacquired in exchange of preferred stock 0 (6,325,887) 6,325,845 0
Deemed dividend recognized on reissuance of Series A, Series B-1, and Series B-2 preferred stock at fair value in secondary transaction 0 1,493,539 1,493,539 0
Digital Assets        
Cash flows from investing activities:        
Purchases of digital and tokenized assets for investment 0 (896,495) (1,772,127) 0
Tokenized Assets        
Cash flows from investing activities:        
Purchases of digital and tokenized assets for investment     (7,035,737) 0
Nonrelated Party        
Changes in operating assets and liabilities:        
Accounts receivable (5,422,887) (1,399,455) (4,223,095) 250,627
Related party        
Changes in operating assets and liabilities:        
Accounts receivable $ 161,026 $ 204,365 $ 554,478 $ (1,043,258)