IDAI

MKT CAP:$6M

T Stamp Inc.

Market Cap

$6M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$2.51-$1.53 (-37.87%)

Apr 21, 2026

Company Details

T Stamp Inc. develops and markets identity authentication software solutions for government, enterprise partners, and peer-to-peer markets in the United States, the United Kingdom, and Malta. The company's artificial intelligence powered so...

CEO

Gareth N. Genner

IPO Date

Feb 24, 2021

Website

truststamp.ai

Key Metrics TTM

Revenue

$3M

+1.9% YoY

Net Income

-$8M

EPS (Diluted)

-$3.84

Free Cash Flow

-$7M

Revenue / Share

$1.01

Gross Margin

55.9%

Operating Margin

-244.0%

Net Margin

-265.2%

FCF Margin

-237.6%

P/S

1.8x

P/E

—

Earnings Reports

FY 2025

Mar 31, 2026

$3M+1.9%EPS -$2.67

Q4 2025

Mar 31, 2026

$908.9K-39.3%EPS -$0.48

Q3 2025

Nov 14, 2025

$872.5K+70.7%EPS -$0.72

Q2 2025

Aug 14, 2025

$812.7K+62.4%EPS -$0.69

Q1 2025

May 15, 2025

$545.5K-4.9%EPS -$1.95

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3M	$2M	-$2M
Q2 22	$708.3K	$169.4K	-$3M
Q3 22	$1M	$819.5K	-$3M
Q4 22	$507.3K	$293.3K	-$4M
Q1 23	$458.6K	$22.5K	-$3M
Q2 23	$460.8K	$256.9K	-$2M
Q3 23	$3M	$3M	-$21.9K
Q4 23	$575.0K	$127.6K	-$3M
Q1 24	$573.7K	$279.1K	-$3M
Q2 24	$500.4K	$253.0K	-$3M
Q3 24	$511.1K	$256.2K	-$3M
Q4 24	$1M	$1M	-$1M
Q1 25	$545.5K	$244.8K	-$2M
Q2 25	$812.7K	$449.9K	-$2M
Q3 25	$872.5K	$509.7K	-$2M
Q4 25	$908.9K	$549.9K	-$2M

Valuation

Quarter	P/S	P/E
Q1 22	8.4x	—
Q2 22	7.0x	—
Q3 22	3.6x	—
Q4 22	2.5x	—
Q1 23	6.7x	—
Q2 23	3.7x	—
Q3 23	3.0x	—
Q4 23	3.3x	—
Q1 24	2.5x	—
Q2 24	1.8x	—
Q3 24	1.7x	—
Q4 24	6.4x	—
Q1 25	1.6x	—
Q2 25	2.0x	—
Q3 25	2.4x	—
Q4 25	2.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$1M	-$1M
Q2 22	-$3M	-$3M
Q3 22	-$982.3K	-$1M
Q4 22	-$1M	-$2M
Q1 23	-$154.6K	-$345.8K
Q2 23	-$3M	-$4M
Q3 23	-$2M	-$2M
Q4 23	-$2M	-$2M
Q1 24	-$2M	-$2M
Q2 24	-$2M	-$2M
Q3 24	-$2M	-$3M
Q4 24	-$3M	-$3M
Q1 25	-$2M	-$2M
Q2 25	-$556.1K	-$794.8K
Q3 25	-$2M	-$3M
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$244.8K
Q2 22	$262.9K
Q3 22	$210.8K
Q4 22	$263.1K
Q1 23	$191.2K
Q2 23	$203.4K
Q3 23	$162.4K
Q4 23	$149.4K
Q1 24	$156.0K
Q2 24	$207.1K
Q3 24	$223.6K
Q4 24	$220.0K
Q1 25	$230.3K
Q2 25	$238.7K
Q3 25	$571.2K
Q4 25	$630.8K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+430.0%	+80.8%
Q2 22	-1.5%	+31.7%
Q3 22	+308.5%	+46.6%
Q4 22	-75.8%	+12.3%
Q1 23	-83.7%	-31.9%
Q2 23	-34.9%	-22.0%
Q3 23	+127.4%	-35.6%
Q4 23	+13.4%	-23.7%
Q1 24	+25.1%	+12.7%
Q2 24	+8.6%	+9.9%
Q3 24	-83.3%	+3.2%
Q4 24	+160.4%	-22.1%
Q1 25	-4.9%	-20.9%
Q2 25	+62.4%	-20.2%
Q3 25	+70.7%	-17.1%
Q4 25	-39.3%	+8.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$287.8K	10.2%
Q2 22	$459.6K	64.9%
Q3 22	$850.8K	63.1%
Q4 22	$800.8K	157.9%
Q1 23	$59.6K	13.0%
Q2 23	$97.7K	21.2%
Q3 23	$148.0K	4.8%
Q4 23	$0	0.0%
Q1 24	$297.9K	51.9%
Q2 24	$307.1K	61.4%
Q3 24	$351.6K	68.8%
Q4 24	$359.3K	24.0%
Q1 25	$60.6K	11.1%
Q2 25	$207.8K	25.6%
Q3 25	$0	0.0%
Q4 25	$370.6K	40.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$493.7K	$3M
Q2 22	$574.5K	$3M
Q3 22	$777.8K	$3M
Q4 22	$708.2K	$3M
Q1 23	$632.4K	$2M
Q2 23	$574.4K	$2M
Q3 23	$605.2K	$2M
Q4 23	$538.7K	$2M
Q1 24	$451.8K	$2M
Q2 24	$564.7K	$2M
Q3 24	$569.5K	$2M
Q4 24	$553.6K	$2M
Q1 25	$437.2K	$2M
Q2 25	$513.4K	$1M
Q3 25	$575.3K	$2M
Q4 25	$647.4K	$2M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	430.0%	-54.4%	375.6
Q2 22	-1.5%	-385.3%	-386.9
Q3 22	308.5%	-239.8%	68.7
Q4 22	-75.8%	-754.4%	-830.2
Q1 23	-83.7%	-490.9%	-574.6
Q2 23	-34.9%	-428.2%	-463.2
Q3 23	127.4%	5.4%	132.7
Q4 23	13.4%	-462.8%	-449.4
Q1 24	25.1%	-431.5%	-406.4
Q2 24	8.6%	-479.7%	-471.1
Q3 24	-83.3%	191.6%	108.3
Q4 24	160.4%	-364.8%	-204.4
Q1 25	-4.9%	-357.6%	-362.6
Q2 25	62.4%	-181.7%	-119.3
Q3 25	70.7%	-183.7%	-113.0
Q4 25	-39.3%	-238.6%	-277.9

Rule of 40

Revenue Segments

Quarter	License fees (over time)	Professional services (over time)	License Fees	Professional Services	License Fees (Over Time)	Professional Services (Over Time)
Q1 22	$62.5K	$3M	—	—	—	—
Q2 22	$62.5K	$645.8K	—	—	—	—
Q4 22	—	—	$62.5K	$444.8K	—	—
Q1 23	$75.0K	$383.6K	—	—	—	—
Q3 23	—	—	—	—	$75.0K	$3M
Q1 24	—	—	—	—	$86.3K	$487.4K
Q2 24	—	—	—	—	$86.3K	$414.1K
Q3 24	—	—	—	—	$86.3K	$424.8K
Q1 25	—	—	—	—	$30.0K	$515.5K
Q2 25	—	—	—	—	$30.0K	$782.7K
Q3 25	—	—	—	—	$30.0K	$842.5K
Q4 25	—	—	—	—	$258.0K	$650.9K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$6M	$0	$6M
Q2 22	$3M	$0	$3M
Q3 22	$3M	$0	$3M
Q4 22	$1M	$0	$1M
Q1 23	$773.1K	$0	$773.1K
Q2 23	$5M	$0	$5M
Q3 23	$3M	$0	$3M
Q4 23	$3M	$0	$3M
Q1 24	$816.7K	$0	$816.7K
Q2 24	$659.5K	$0	$659.5K
Q3 24	$598.0K	$0	$598.0K
Q4 24	$3M	$0	$3M
Q1 25	$1M	$0	$1M
Q2 25	$292.1K	$0	$292.1K
Q3 25	$5M	$0	$5M
Q4 25	$6M	$0	$6M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	303K	+21.0%	+27.7%
Q2 22	310K	+2.3%	+23.6%
Q3 22	313K	+0.9%	+21.2%
Q4 22	336K	+7.2%	+33.8%
Q1 23	336K	+0.2%	+10.9%
Q2 23	450K	+33.9%	+45.2%
Q3 23	544K	+20.7%	+73.8%
Q4 23	569K	+4.7%	+69.6%
Q1 24	674K	+18.5%	+100.4%
Q2 24	815K	+20.9%	+81.0%
Q3 24	1M	+44.9%	+117.2%
Q4 24	1M	-6.5%	+94.1%
Q1 25	1M	0.0%	+63.8%
Q2 25	2M	+126.1%	+206.3%
Q3 25	3M	+6.5%	+125.1%
Q4 25	3M	+17.1%	+181.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$28.2K	100
Q2 22	$7.1K	100
Q3 22	$13.5K	100
Q4 22	$5.1K	100
Q1 23	$4.6K	100
Q2 23	$4.6K	100
Q3 23	$30.7K	100
Q4 23	$5.8K	100
Q1 24	$5.7K	100
Q2 24	$5.0K	100
Q3 24	$5.1K	100
Q4 24	$15.0K	100
Q1 25	$5.5K	100
Q2 25	$8.1K	100
Q3 25	$8.7K	100
Q4 25	$1	1.0M

Revenue / Employee