Logo

CEPT

Cantor Equity Partners II, Inc. Class A Ordinary Share

CEPT

Cantor Equity Partners II, Inc. Class A Ordinary Share • NASDAQ
$10.85 ▲ 0.37% (+0.04)
Market Cap $331.79 M
52w High $13.25
52w Low $10.32
Dividend Yield 0%
P/E 90.42
Volume 171.78K
Outstanding Shares 30.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $124.406K ▼ $2.407M ▲ 0% $0.11 ▲ $0 ▲
Q2-2025 $0 $137.699K ▲ $1.394M ▲ 0% $0.07 ▲ $-137.699K ▼
Q1-2025 $0 $27.148K ▲ $-27.148K ▼ 0% $-0.001 ▲ $-27.148K ▼
Q4-2024 $0 $18.581K ▼ $-18.581K ▲ 0% $-0.001 ▲ $-18.581K ▲
Q3-2024 $0 $50.15K $-50.15K 0% $-0.002 $-50.15K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25K $244.407M ▲ $166.331K ▲ $-3.49M ▼
Q2-2025 $25K ▲ $241.822M ▲ $69.082K ▼ $-3.335M ▼
Q1-2025 $0 $161.721K ▲ $256.811K ▲ $-95.09K ▼
Q4-2024 $0 $106.544K ▼ $174.486K ▲ $-67.942K ▼
Q3-2024 $0 $106.613K $155.974K $-49.361K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.819M ▲ $49.527K ▲ $-240M $239.975M ▼ $0 $49.527K ▲
Q2-2025 $1.394M ▲ $40.231K ▲ $-240M ▼ $239.985M ▲ $0 $40.231K ▲
Q1-2025 $-27.148K ▼ $-53.826K ▼ $0 $53.826K ▲ $0 $-53.826K ▼
Q4-2024 $-18.581K ▲ $-9.36K ▲ $0 $9.36K ▲ $0 $-9.36K ▲
Q3-2024 $-50.15K $-70.54K $0 $0 $0 $-70.54K

Five-Year Company Overview

Income Statement

Income Statement CEPT is a blank-check company, so its income statement is not meaningful in the usual way. Before a merger, these vehicles typically show little to no revenue and mainly reflect deal-related costs and interest on cash held in trust. The real economic story will only begin once the Securitize transaction closes and Securitize’s own revenues, costs, and profits (or losses) are consolidated into the public entity. Until then, there is effectively no operating business to assess from an income perspective.

Balance Sheet

Balance Sheet As a SPAC, CEPT’s balance sheet is expected to be dominated by cash raised from investors and related liabilities, rather than operating assets like plants, equipment, or large receivables. The historical data shown here is essentially blank, which suggests either pre-IPO status or incomplete reporting. After the merger, the balance sheet will be driven by Securitize’s assets (technology, licenses, acquired businesses, and cash) and its obligations (staff costs, regulatory capital needs, and any debt or contingent liabilities). The main balance-sheet question is how much cash the combined company will retain after redemptions and transaction expenses, and how that cash is deployed to grow the business.

Cash Flow

Cash Flow Currently, CEPT does not have a normal operating cash flow profile; cash movements typically relate to raising SPAC capital, covering listing and transaction expenses, and managing funds held in trust. There is no ongoing business generating or consuming cash from customers or suppliers yet. Once Securitize is merged in, cash flows will depend on how quickly its tokenization and trading services scale relative to its spending on technology, staff, compliance, and growth. Early-stage growth companies in this space often run negative operating cash flow for some time while they invest ahead of revenue, so the path to self-funding operations will be an important area to watch.

Competitive Edge

Competitive Edge The real competitive story sits with Securitize, not CEPT itself. Securitize appears to occupy a strong niche at the intersection of traditional finance and blockchain, with a focus on turning real-world securities into digital tokens. Its combination of regulatory licenses, a full-service platform, and partnerships with large asset managers gives it meaningful credibility and barriers to entry. The ability to act as a regulated transfer agent, broker-dealer, and operate a trading venue under one umbrella is not easy to replicate. At the same time, the market for tokenized real-world assets is still young and crowded with both crypto-native and traditional players experimenting in the space. Regulatory shifts, new entrants from big financial institutions, or changes in blockchain infrastructure could alter the landscape quickly, so while Securitize appears to have an early lead, its long-term dominance is not guaranteed.

Innovation and R&D

Innovation and R&D Securitize’s core value lies in its technology and regulatory infrastructure. Its platform is designed to support multiple blockchains, automate compliance within smart contracts, and handle the full lifecycle of a digital security: issuance, investor onboarding, ongoing management, and trading. The acquisitions of a traditional transfer agent and a digital asset platform for advisors show a strategy of blending old and new infrastructure to accelerate adoption. Future plans to tokenize its own equity, expand into more asset types, and integrate more deeply with decentralized finance indicate a strong innovation agenda. However, the exact scale of its R&D and product investment is not disclosed here, so it is hard to gauge how its innovation pace compares to better-capitalized competitors. What is clear is that continued spending on technology, regulatory alignment, and partnerships will be critical to maintaining its edge.

Summary

CEPT is essentially a financing and listing vehicle; the real underlying business is Securitize. Historical financials for CEPT offer little insight, because they represent a cash shell with no operating activity. The investment case and risk profile hinge on Securitize’s ability to turn its early leadership in tokenizing real-world assets into a durable, scalable business. On the positive side, Securitize combines regulatory approvals, a broad technology stack, and high-profile partnerships, which together form a credible competitive moat in an emerging field. On the risk side, the company operates in a young, evolving, and highly regulated market, where business models and rules are still being tested. Future outcomes will depend on the merger closing as expected, the amount of capital the combined company retains, and Securitize’s execution on growth, compliance, and continued innovation in digital securities.

NEWS

November 21, 2025 · 8:00 AM UTC

Securitize to Host Webcast to Review Proposed Business Combination with Cantor Equity Partners II

Read more

November 13, 2025 · 8:00 AM UTC

Securitize and Cantor Equity Partners II Announce Confidential Submission of Draft Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission

Read more

October 28, 2025 · 7:00 AM UTC

Securitize, the Leading Tokenization Platform, to Become a Public Company at $1.25B Valuation via Business Combination With Cantor Equity Partners II

Read more