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T Stamp Inc develops and markets identity authentication software solutions for enterprise partners and peer-to-peer markets. The company is engaged in developing proprietary artificial intelligence-powered solutions; researching and leveraging biometric science, cryptography, and data mining to deliver insightful identity & trust predictions while identifying and defending against fraudulent identity attacks, protecting sensitive user information, and extending the reach of digital services through accessibility.
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Trust Stamp (Nasdaq: IDAI) announced financial results and business update for Q3 2023, reporting a 127.35% increase in net revenue to $3.07 million. The company reduced selling, general, and administrative expenses by $3.11 million, or 34.54%, for YTD 2023 compared to YTD 2022, and $1.23 million, or 37.42%, for Q3 2023 compared to Q3 2022. Trust Stamp also strengthened its balance sheet with an additional $621 thousand in equity capital from an investor exercising warrants.
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Trust Stamp (Nasdaq: IDAI) has been awarded the D-Seal for its identity authentication technology used in humanitarian projects. The company emphasizes the need for proper data collection practices in humanitarian contexts and the risks of traditional biometrics solutions. Trust Stamp's commitment to customer security and privacy is demonstrated by achieving the D-seal, which reassures clients and users that their data is handled with care and integrity.
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Trust Stamp (Nasdaq: IDAI) will report its financial results for the third quarter ended September 30, 2023 on Tuesday, November 7, 2023, after market close.
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Trust Stamp CEO invited to present at conference on Emerging Growth in A.I.
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Trust Stamp launches Tap-In Band, a discrete wrist-worn authentication technology for community based supervision programs.
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Trust Stamp announces issuance of two new patents expanding their intellectual property portfolio in biometric data tokenization.
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Trust Stamp awarded D-seal for IT security and responsible data usage, ensuring compliance with NIS2 directive in EU.
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Trust Stamp adds six sales team members to drive adoption of its Orchestration Layer through direct sales. Anticipates contracted revenue in 2023 with significant banked revenue in 2024. Addressable market in the US for biometric software estimated to be around $14.7B in 2024, growing at a compound rate of 14% over the next four years. Each account executive responsible for an annual quota of $1MM in new Annual Recurring Revenue. Sales pipeline has already seen a meaningful increase.
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Trust Stamp is addressing potential illegal short selling of its stock, which may have artificially depressed its stock price. The company will engage forensic experts and work with other listed companies to address this activity. Short selling may be liable for fraud and breaches of SEC regulations. Trust Stamp aims to obtain restitution for the damage caused and cooperate with regulatory authorities.
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Trust Stamp (Nasdaq: IDAI) receives provisional patent for biometric recognition technology
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FAQ
What is the current stock price of T Stamp (IDAI)?
The current stock price of T Stamp (IDAI) is $0.245 as of November 4, 2024.
What is the market cap of T Stamp (IDAI)?
The market cap of T Stamp (IDAI) is approximately 4.0M.
What does T Stamp Inc specialize in?
T Stamp Inc develops identity authentication software solutions for enterprise partners and peer-to-peer markets.
What technologies does T Stamp Inc leverage?
T Stamp Inc leverages artificial intelligence, biometric science, cryptography, and data mining in their solutions.
What is the recent achievement of T Stamp Inc?
T Stamp Inc has received a notice of allowance for a new patent for an AI-powered personal identifiable information encoder.
Who are the founders of T Stamp Inc?
T Stamp Inc was founded in 2016 by Gareth Genner and Andrew Gowasack.
Where is T Stamp Inc located?
T Stamp Inc is located across North America, Europe, Asia, and Africa.
Where does T Stamp Inc trade?
T Stamp Inc trades on the Nasdaq Capital Market under the symbol IDAI.
What sectors does T Stamp Inc serve?
T Stamp Inc serves sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services.
What is the mission of T Stamp Inc?
T Stamp Inc aims to provide advanced biometric identity solutions to reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader user base worldwide.
What is the significance of the new patent received by T Stamp Inc?
The new patent for an AI-powered personal identifiable information encoder addresses the need for security against cyber-attacks and provides optimized privacy protection by tokenizing personal data.
What is the focus of the recent patent filed by T Stamp Inc?
The recent patent aims to improve the performance of biometric-based age estimation algorithms to tailor results to complex client requirements.
T Stamp Inc.
Nasdaq:IDAI
IDAI Rankings
IDAI Stock Data
4.02M
18.82M
28.63%
4.92%
0.01%
Software - Application
Services-prepackaged Software
United States of America
ATLANTA