T Stamp Inc (NASDAQ: IDAI)

T Stamp Inc. develops and markets identity authentication software for enterprise and government partners and peer to peer markets. The company creates proprietary artificial intelligence powered solutions that use machine learning computer vision cryptography and data mining to process and protect data. Its technology delivers fraud detection identity verification and secure digital services across multiple industries. The company leverages GPU processing edge computing neural networks and large language models to accelerate data protection and insight generation. Its solutions are designed to work at a low cost while maintaining high accuracy and scalability.

T Stamp Inc. generates revenue primarily through licensing its identity authentication technology and offering software as a service via its Orchestration Layer platform. The company receives licensing fees and periodic or volume based payments from partners who integrate its technology into field specific applications. Long term agreements with an S&P 500 bank and Mastercard International provide a guaranteed minimum income stream that exceeds $215,000 per month after markups and includes hosting and expense reimbursements. Additionally the Orchestration Layer has onboarded over one hundred financial institutions and transaction volumes increased approximately 20% in 2025 contributing to recurring revenue streams. The company also earns monthly minimum payments under its Master Technology Service Agreement with QID Technologies LLC which provides an initial minimum of $100,000 per calendar month. In the fourth quarter of 2022 the first non FIS client onboarded to the Orchestration Layer generated $576,000 of revenue for the Company to date including $151,000 during the year ended December 31, 2025. Trust Stamp also reported a purchase order from an African telecommunications company for its Irreversibly Transformed Identity Token IT2 signaling early revenue from emerging markets.

T Stamp Inc. occupies a niche in the identity authentication industry where its proprietary IT2 tokenization technology provides privacy preserving verification that cannot be reverse engineered. The company faces competition from established biometric vendors such as NEXT Biometrics IDEMIA Synaptics Cognitec Innovatrics Suprema FaceTec Rank One Computing Acuant Jumio Onfido Ping and Mitek. However Trust Stamp believes its IT2 solution has no direct competitors due to its unique combination of biometric transformation and cryptographic tokenization which enables multi factor authentication without storing raw biometric data. This differentiation gives the company a competitive advantage in markets that prioritize data privacy and regulatory compliance. Trust Stamp supports its technology with a growing patent portfolio that includes over 25 issued patents and several pending applications covering areas such as liveness detection multi factor authentication and zero knowledge proofs. The company has also obtained third party certifications including SOC2 D Seal and NCSC Cyber Essentials Plus which reinforce its commitment to security and responsible data handling.

The company serves a diverse customer base that includes financial institutions technology providers and government agencies. Specific customers named in the filing are an S&P 500 bank Mastercard International Fidelity Information Services LLC and QID Technologies LLC. Additionally Trust Stamp works with a Malta based company that also operates in Dubai and has secured a purchase order from an African telecommunications company serving hundreds of millions of subscribers across multiple markets. As of December 31, 2025 the Orchestration Layer had onboarded 110 customers including those that have fully implemented the platform and those currently undergoing implementation. These onboarded customers represent over $350 billion in aggregate assets and the first non FIS client generated $576,000 of revenue to date. The company also reports that overall Orchestration Layer transaction volumes increased by approximately 20% in 2025 with a circa 200% increase in FIS related transactions.