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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 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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Trust Stamp (Nasdaq: IDAI) receives patent for identity authentication technology. Company has 18 issued patents and 13 pending applications. Business update reports positive progress in raising capital, growing customer base, and reducing operating costs.
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Trust Stamp (IDAI) announces Q2 2023 financial results and business update. Revenue decreased by $247k or 34.94% compared to Q2 2022. COS decreased by $144k or 41.43%. R&D expense decreased due to reduction in dedicated team. SG&A expenses decreased by $655k or 25.87%. Operating loss decreased by $556k or 18.91%. Net loss decreased by $752k. Cash on hand as of June 30, 2023, was $5.04 million. Completed registered direct offerings for gross proceeds of $7.47 million.
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Trust Stamp (Nasdaq: IDAI) has issued a White Paper introducing its new AI-powered suite of facial attributes and quality assessment tools (FAIQA). The tools aim to improve the quality of facial images used in authentication applications, such as recognition and age estimation. The company's Chief Science Officer, Dr. Norman Poh, highlighted the challenges faced in image quality due to factors like poor illumination and facial occlusions. Trust Stamp's FAIQA can be integrated into applications to enhance capture quality and improve user experience. The company also announced a 31% increase in its financial services customer base in the past six months.
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Trust Stamp receives patent for biometric data tokenization, strengthening its intellectual property portfolio. Financial services customer base increased by 31% in the past six months. Q2 2023 financial results and business strategy to be released on August 14th.
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Trust Stamp receives new patent issuance for AI-powered technology from the US Patent and Trademark Office. The company now has 16 issued patents and 15 pending patent applications.
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Trust Stamp announces that 7 additional financial institutions, including a global institution with over 1,500 branches and assets exceeding $1.5T, are implementing its privacy-first biometric technology. Trust Stamp aims to onboard a total of 45-50 financial institutions by the end of 2023.
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FAQ
What is the current stock price of T Stamp (IDAI)?
The current stock price of T Stamp (IDAI) is $0.54 as of December 26, 2024.
What is the market cap of T Stamp (IDAI)?
The market cap of T Stamp (IDAI) is approximately 12.2M.
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
12.19M
18.37M
33.45%
8.48%
0.16%
Software - Application
Services-prepackaged Software
United States of America
ATLANTA