Trust Stamp (NASDAQ: IDAI) trims 2025 loss, boosts equity 188% after debt repay
Rhea-AI Filing Summary
T Stamp Inc. (Trust Stamp) reported full-year 2025 results showing modest revenue growth but a significantly smaller loss. Net recognized revenue for the year ended December 31, 2025 was $3.14 million, up 2% from $3.08 million in 2024, mainly driven by an S&P 500 bank customer contract amendment that contributed $666 thousand in 2025.
Total operating expenses fell to $10.80 million from $12.45 million, a 13% reduction, contributing to a 33.6% year-on-year decrease in comprehensive operating loss. Basic and diluted net loss per share improved to $2.67 from $11.36 in 2024.
As of December 31, 2025, cash and cash equivalents were $6.04 million, with total current assets of $7.48 million. Total liabilities declined to $2.35 million from $5.41 million after full repayment of a $3.07 million secured borrowing, and shareholder equity rose 188% to $8.73 million. Operationally, 100 financial institutions with over $350 billion in assets were onboarded via FIS, helping drive a 247% increase in transaction starts and over 30% higher customer completion rates.
Positive
- Material loss reduction and expense cuts: Total operating expenses fell 13% to $10.80 million and comprehensive operating loss decreased 33.6% year-on-year, with basic and diluted net loss per share improving from $11.36 to $2.67.
- Strengthened balance sheet: Total liabilities dropped from $5.41 million to $2.35 million after full repayment of a $3.07 million secured borrowing, while shareholder equity rose 188% to $8.73 million.
- Long-term bank contract visibility: An S&P 500 bank contract amendment added $666 thousand of 2025 revenue and provides minimum gross revenue exceeding $12.7 million through May 31, 2031, subject to a six‑month cancellation right.
- Improving usage metrics via FIS: 100 financial institutions with over $350 billion in assets were onboarded via FIS, with FIS-related transaction starts up 247% and customer completion rates up over 30% in 2025.
Negative
- Revenue growth below expectations: Net recognized revenue increased only 2% year-on-year to $3.14 million and undershot original company projections due to delays in customer implementation for the QID contract.
- Ongoing net losses: Despite improvements, the company still reported a basic and diluted net loss of $2.67 per share for 2025, indicating the business has not yet reached profitability.
Insights
Loss narrows sharply, balance sheet strengthens, growth still early.
Trust Stamp delivered only 2% revenue growth to $3.14M, but the S&P 500 bank contract amendment appears strategically important. It added $666K of 2025 revenue and extends the relationship to May 31, 2031 with minimum gross revenue exceeding $12.7M, subject to a six‑month cancellation right.
Cost discipline is notable: total operating expenses dropped 13% to $10.80M, contributing to a 33.6% year-on-year decrease in comprehensive operating loss and improving EPS from a $11.36 loss to $2.67 loss. This suggests the business is scaling closer to breakeven even on modest top-line growth.
The balance sheet improved meaningfully after repaying a $3.07M secured borrowing, reducing total liabilities to $2.35M and lifting shareholder equity 188% to $8.73M. Operational metrics around the FIS channel—100 onboarded institutions with over $350B in assets, 247% higher transaction starts, and >30% better completion—indicate rising platform usage that could support future revenue if monetization follows.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net recognized revenue: $3.14 million
Contract amendment revenue impact: $666 thousand
Minimum contract revenue: Exceeding $12.7 million
+5 more
8 metrics
Net recognized revenue
$3.14 million
Year ended December 31, 2025; up 2% from $3.08 million in 2024
Contract amendment revenue impact
$666 thousand
Additional 2025 revenue from S&P 500 bank customer contract amendment
Minimum contract revenue
Exceeding $12.7 million
Minimum gross revenue over S&P 500 bank contract term to May 31, 2031
Total operating expenses
$10.80 million
Year ended December 31, 2025; down from $12.45 million in 2024 (13% reduction)
Net loss per share
$2.67 loss
Basic and diluted EPS for 2025; improved from $11.36 loss in 2024
Total liabilities
$2.35 million
As of December 31, 2025; down from $5.41 million after $3.07 million debt repayment
Shareholder equity
$8.73 million
As of December 31, 2025; up 188% from $3.03 million at end of 2024
FIS onboarded institutions
100 institutions; $350+ billion assets
As of release date; transaction starts up 247% and completion rates up over 30% in 2025
Key Terms
Comprehensive Operating Loss, S&P 500 bank customer contract amendment, Nasdaq Capital Market, Orchestration Layer, +2 more
6 terms
Comprehensive Operating Loss financial
"reflecting strong growth in customer enrollments and user completions with a 33.6% year-on-year decrease in Comprehensive Operating Loss"
S&P 500 bank customer contract amendment financial
"The increase was primarily attributable to the S&P 500 bank customer contract amendment in 2025."
Nasdaq Capital Market market
"Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI)."
The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.
Orchestration Layer technical
"bringing the total number of customers either fully implemented or currently implementing the Orchestration Layer to 114."
An orchestration layer is the software that coordinates and manages multiple applications, services, or machines so they act together as a single, reliable system. For investors, it matters because effective orchestration improves uptime, speeds product rollouts, lowers operational costs, and simplifies integration of new features—like an air‑traffic controller keeping many flights on time so the whole airport operates smoothly.
forward-looking statements regulatory
"All statements in this release that are not based on historical fact are “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"including within the meaning of the Private Securities Litigation Reform Act of 1995"
Earnings Snapshot
Net recognized revenue: $3.14 million
Year ended December 31, 2025
Net recognized revenue
$3.14 million
+2% year-on-year
Total operating expenses
$10.80 million
-13% vs 2024 ($12.45 million)
Basic and diluted net loss per share
$2.67 loss
improved from $11.36 loss in 2024
Total liabilities
$2.35 million
down from $5.41 million at December 31, 2024
Shareholder equity
$8.73 million
up 188% from $3.03 million at December 31, 2024
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 31, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (404 ) 806-9906
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02. Results of Operations and Financial Condition.
On March 31, 2026, T Stamp, Inc. (the “Company”) issued a press release announcing its results of operations for the year ended December 31, 2025. A copy of that press release is being furnished herewith as Exhibit 99.1.
The information contained in and accompanying this Form 8-K with respect to Item 2.02 (including Exhibit 99.1 hereto) is being furnished to, and not filed with, the Securities and Exchange Commission in accordance with General Instruction B.2 to Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits
| Exhibit No. | Description | |||||||
99.1 | Press Release of the registrant issued March 31, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| T STAMP INC. | ||||||||
| By: | /s/ Gareth Genner | |||||||
| Name: Gareth Genner | ||||||||
| Title: Chief Executive Officer | ||||||||
Dated: March 31, 2026
Exhibit 99.1
T STAMP INC
(‘Trust Stamp’ or ‘The Company’)
Nasdaq: IDAI
Trust Stamp filed its 10K for the year ending December 31, 2025 reflecting strong growth in customer enrollments and user completions with a 33.6% year-on-year decrease in Comprehensive Operating Loss
March 31, 2026, Atlanta, Georgia, United States: Trust Stamp (Nasdaq: IDAI) announced that:
1.It filed its 10K report for the year ended December 31, 2025 after the Nasdaq market closed on March 31, 2026.
2.Net recognized revenue for the year ended December 31, 2025 was $3.14 million, an increase of 2% from $3.08 million for the corresponding period in 2024. The increase was primarily attributable to the S&P 500 bank customer contract amendment in 2025. The amendment extended the term of the existing agreement until May 31, 2031 (subject to a right for the customer to cancel for convenience on 6 months notice), with a minimum gross revenue exceeding $12.7 million over the term of the contract. The amendment increased revenue by $666 thousand in 2025.
3.Revenue for the year ended December 31, 2025, while increased, undershot the Company’s original projections due to delays in customer implementation for the QID contract. The Company was able to redirect assigned resources to product development, improvements and new customer onboarding.
4.Total Operating Expenses were $10.80 million for the year ended December 31, 2025, compared to $12.45 million for the corresponding period in 2024, representing a 13% reduction between the respective periods in 2025 and 2024.
5.Basic and diluted net loss per share were $2.67 per share for the year ended December 31, 2025, compared to $11.36 per share for the corresponding period in 2024.
6.Cash and Cash Equivalents as of December 31, 2025 were $6.04 million which, with receivables and prepaid expenses, resulted in Total Current Assets of $7.48 million.
7.Total liabilities decreased to $2.35 million as of December 31, 2025, from $5.41 million as of December 31, 2024, primarily reflecting the full repayment on January 10, 2025, of the Company’s secured borrowing in the sum of $3.07 million, including $69 thousand of interest.
8.Shareholder equity rose 188% to $8.73 million as of December 31, 2025, from $3.03 million as of December 31, 2024.
Trust Stamp also announced that as of the date of this release, a total of 100 financial institutions with over $350 billion in assets have been onboarded via FIS, bringing the total number of customers either fully implemented or currently implementing the Orchestration Layer to 114. Importantly, over the year ended December 31, 2025, transaction starts for FIS-related institutions have increased 247% and customer completion rates increased by over 30%.
| Inquiries | |||||
| Investors: | shareholders@truststamp.ai | ||||
About Trust Stamp
Trust Stamp is a global provider of AI-powered services for use in multiple sectors including banking and finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services. Its technology empowers organizations via advanced solutions that reduce fraud, tokenize and secure data, securely authenticate users while protecting personal privacy, reduce friction in digital transactions, and increase operational efficiency, enabling customers to accelerate secure financial inclusion and reach and serve a broader base of users worldwide.
With team members from twenty-two nationalities in eight countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI).
Safe Harbor Statement: Caution Concerning Forward-Looking Remarks
All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.