About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Insights - Trust Stamp has developed a patent-protected framework for embedding links to a biometrically validated cryptographic chain of provenance into stablecoins, addressing concerns about their use in money laundering and terrorist financing [1][2][3] Industry Overview - The Financial Action Task Force (FATF) has identified stablecoins as a prevalent virtual asset among illicit actors, including cybercriminals and drug traffickers, highlighting the risks associated with their mass adoption and uneven global regulatory standards [2][3] - The GENIUS Act of 2025 classifies permitted payment stablecoin issuers as "financial institutions," mandating compliance with anti-money laundering (AML) and counter-terrorist financing (CFT) regulations [3] Company Developments - Trust Stamp's USPTO Patent 11,681,787 focuses on ownership validation for cryptographic asset contracts, linking stablecoin units to tokenized identity representations while preserving user privacy [4] - The company offers technologies such as embedded ownership validation and biometrically authenticated wallets, positioning itself to meet emerging regulatory expectations and provide solutions for stablecoin issuers and custodians [5] - Trust Stamp's technology enables banks and payment providers to comply with FATF standards while streamlining cross-border due diligence and evidencing beneficial ownership without disclosing raw KYC data [5]

Core Insights - Proactive provides fast, accessible, and informative business and finance news content to a global investment audience [2] - The company focuses on medium and small-cap markets while also covering blue-chip companies and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, mining, oil and gas, and emerging technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Insights - Trust Stamp has been selected for the 2026 Trust Village Incubator to advance its European go-to-market strategy for its StableKey technology and Wallet [1][2] - The StableKey solution utilizes a patented cryptosystem to enable secure identity verification without storing sensitive biometric data [1] - The participation in the Trust Village program will facilitate partnerships and commercialization efforts within the Swiss trust-tech community [3][8] Company Overview - Trust Stamp is a global provider of AI-powered software solutions aimed at enhancing identity and trust across various sectors, including banking, finance, and healthcare [4] - The company operates with a diverse team from 22 nationalities across eight countries, trading on the Nasdaq Capital Market [5] Trust Village Initiative - Trust Village connects startups, research institutions, and industry leaders in digital trust and cybersecurity, fostering collaboration and innovation [6] - The initiative is powered by EPFL Innovation Park, Trust Valley, SICPA, and Canton de Vaud, aiming to support early-stage companies in building sustainable businesses [6] Strategic Goals - Trust Stamp aims to execute its European go-to-market strategy for StableKey, build partnerships with financial institutions and identity providers, and launch pilot projects for privacy-preserving authentication [8] - The company seeks to strengthen its alignment with European digital trust frameworks, including eIDAS 2.0 [8]

Core Insights - Trust Stamp has raised over $10 million in new capital and is launching a multi-pronged cryptocurrency initiative, including the StableKey Wallet, which is a biometrically secured digital asset wallet focused on Stablecoin issuers and purchasers [1][2] - The company has submitted requests for no-action relief from the U.S. Securities and Exchange Commission and a European financial services regulator regarding the StableKey Wallet [1][2] - The StableKey Wallet is designed to provide enhanced security and convenience, featuring live biometric authentication and capabilities such as multi-cryptocurrency holdings and alternative recovery methodologies [2][3] Company Overview - Trust Stamp is a global provider of AI-powered services across various sectors, including banking, finance, regulatory compliance, and healthcare, aimed at reducing fraud and enhancing operational efficiency [4] - The company operates with a diverse team from 22 nationalities across eight countries and is listed on the Nasdaq Capital Market [5] Market Context - The U.S. Treasury Secretary Scott Bessent predicts that the stablecoin market will reach $3 trillion by 2030, driven by innovations like the Genius Act, indicating significant growth potential in the cryptocurrency space [3]

Core Insights - Proactive provides fast, accessible, and actionable business and finance news content to a global investment audience [2] - The company focuses on medium and small-cap markets while also covering blue-chip companies and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, mining, oil and gas, and emerging technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Financial Performance - Net revenue for the three months ended September 30, 2025, increased by 70.71% to $872,491 compared to $511,081 for the same period in 2024, driven by a new contract amendment with an S&P 500 bank[240]. - Net revenue for the nine months ended September 30, 2025, was $2,230,629, an increase from $1,585,153 for the same period in 2024[238]. - The Company reported a net loss of $5.78 million for the nine months ended September 30, 2025, with an accumulated deficit of $67.24 million[290]. - The Company recorded a net loss of $1,911,952 for the three months ended September 30, 2025, compared to a net income of $683,524 for the same period in 2024[238]. - Basic and diluted net loss per share attributable to T Stamp Inc. was $(0.72) for the three months ended September 30, 2025, compared to $(1.06) for the same period in 2024[238]. - Adjusted EBITDA loss (non-GAAP) for the three months ended September 30, 2025, decreased by 42.25% to a $1.24 million loss from a $2.14 million loss for the same period in 2024[233]. - The Company experienced a decrease in Adjusted EBITDA loss (non-GAAP) of 35.26% for the nine months ended September 30, 2025, to $4.30 million from $6.65 million for the same period in 2024[235]. Revenue and Expenses - Selling, general, and administrative expenses decreased by $673,000, primarily due to a 33% reduction in salaries and compensation, including stock-based compensation, during the three months ended September 30, 2025[234]. - Selling, general, and administrative (SG&A) expenses decreased by $673 thousand, or 30.82%, to $1,509,386 for the three months ended September 30, 2025, compared to $2,181,907 in the same period of 2024[249]. - Cost of services increased by 42.32% to $362,766 for the three months ended September 30, 2025, primarily due to increased internal developer costs and service requests from the S&P 500 bank[245]. - Cost of services (COS) increased by $229 thousand, or 28.78%, to $1,026,252 for the nine months ended September 30, 2025, compared to $796,925 in the same period of 2024[268]. - Research and development (R&D) expenses increased by $6 thousand, or 1.01%, to $575,258 for the three months ended September 30, 2025, compared to $569,506 in the same period of 2024[247]. - R&D expenses decreased by $60 thousand, or 3.80%, to $1,525,863 for the nine months ended September 30, 2025, compared to $1,586,085 in the same period of 2024[269]. Cash Flow and Financing - The Company had approximately $5.37 million in cash as of September 30, 2025, with a net loss of $5.78 million for the same period[284]. - Net cash flows from operating activities decreased by 35.07% to $4.01 million for the nine months ended September 30, 2025, compared to $6.18 million for the same period in 2024[293]. - Net cash used in investing activities was $665,000 for the nine months ended September 30, 2025, primarily for investments in technologies and equipment purchases[296]. - Net cash flows from financing activities increased to $7.32 million for the nine months ended September 30, 2025, compared to $4.37 million for the same period in 2024[297]. - The Company raised gross proceeds of $5.36 million under the Equity Distribution Agreement and $4.35 million from the Warrant Exercise and Exchange Inducement Agreement, providing sufficient liquidity for planned operations[291]. Debt and Obligations - The Company repaid a secured promissory note totaling $2,261,413, which included $51,413 in interest expense[171]. - The secured promissory note had an original principal amount of $2,210,000 and carried a 9% annual interest rate[172][173]. - The Company repaid a secured promissory note of $3.00 million plus interest of $69,000 on January 10, 2025[298]. - The Company entered into a Note Purchase Agreement on July 1, 2025, issuing a Secured Promissory Note of $2.21 million, which was fully repaid on October 1, 2025[286]. Market and Strategic Initiatives - The Company is focusing on the cryptocurrency market, particularly Stablecoins, and developing products tailored to this sector[158]. - The total stablecoin market capitalization is around $170 billion as of mid-2025, with projections to double to approximately $300–400 billion by 2030[207]. - The global market for microfinance is estimated at $250.4 billion in 2024, projected to reach $506 billion by 2030[208]. - The Company is expanding its international presence by opening an office in Tokyo, supported by local government funding[161]. - The Company is participating in the K-Startup Grand Challenge 2025 to establish a presence in South Korea and the broader Asia-Pacific region[161]. - The Company has established go-to-market partnerships in Nigeria and Ghana to expand its market reach[161]. Cybersecurity and Technology - The Company has strengthened its cybersecurity certifications, adding SOC2 certification to its existing credentials[161]. - In 2024, significant cybersecurity incidents exposed billions of personal records, highlighting the market potential for the Company's services in data security and fraud prevention[202]. - In 2024, global losses from payment card fraud reached approximately $33.8 billion, driven by increasing card-not-present and e-commerce fraud[203]. - The Merchant Risk Council estimates that merchants lose about 3.2% of annual e-commerce revenue to fraud, with online payment fraud losses projected to total $362 billion globally by 2028[203]. - The ramp-up process for QID's customer-facing activities has taken longer than anticipated, affecting service delivery and billing levels[289]. - The Company anticipates launching a biometrically secured proprietary non-custodial software wallet in January 2026[209]. Management and Personnel - Lance Wilson was appointed as the new Chief Financial Officer with an annual base salary of $182,250 and eligibility for an annual equity bonus of at least 10% of his base salary[189]. - The Company has onboarded 95 financial institutions with over $348 billion in assets via FIS, totaling 108 customers implementing the Orchestration Layer[225]. - The Orchestration Layer has attracted over sixty financial institutions, although full production has been slow, impacting revenue expectations[218].

Financial Results - T Stamp, Inc. reported its results for the nine months ended September 30, 2025[5] - A press release detailing the financial results was issued on November 14, 2025[5] - The financial statements and exhibits related to the report are included as Exhibit 99.1[7] Company Classification - The company is classified as an emerging growth company under the Securities Act[4] Report Details - The report was signed by CEO Gareth Genner on November 14, 2025[10]

Core Insights - Trust Stamp has launched a cryptocurrency initiative featuring the TSI Wallet™, a biometrically secured digital asset wallet aimed at competing in the growing crypto wallet market, projected to expand from $14.39 billion in 2024 to $54.79 billion by 2029 [1] Company Overview - Trust Stamp has raised over $10 million in new capital to support its cryptocurrency and asset tokenization initiative [1] - The TSI Wallet will be available for end-user implementation starting January 1, 2026, with a waitlist opening on October 24, 2025 [1] Product Features - The TSI Wallet eliminates the need for users to memorize or store passwords, PINs, and private keys, functioning as both a non-custodial wallet and a "Wallet of Wallets" [4] - It can operate across multiple devices and is established via a proprietary Stable Key generated from the user's tokenized facial biometrics [4] - The wallet employs a unique cryptosystem that binds live biometrics to the wallet, ensuring that compromised information remains fragmented and unusable [4] - It incorporates a zero-knowledge-proof protocol for remote identity proofing and offers secure protocols for wallet recovery, joint ownership, and roles-based access [4][5] Market Context - The cryptocurrency industry faces significant challenges, including fraud, with the FBI reporting over $9.3 billion in cryptocurrency-related fraud in 2024 [3] - The TSI Wallet is designed to authenticate ownership and perform KYC/AML checks, addressing these challenges [3] - The Stablecoin market has evolved into a critical component of modern financial infrastructure, with a market capitalization of approximately $227 billion and quarterly transaction volumes exceeding $1 trillion [6] Future Outlook - Trust Stamp anticipates that the TSI Wallet and its associated technologies will significantly contribute to business growth and revenue by Q4 of 2026 [6]

Core Points - T Stamp Inc. dba Trust Stamp has entered into a warrant inducement agreement with an existing institutional investor for the exercise and exchange of certain outstanding warrants issued on September 3, 2024, December 6, 2024, and January 8, 2025 [1] - The investor will exercise September 2024 Series A and Series B Warrants for 413,696 shares at an exercise price of $4.83 per share and January 2025 Series A and Series B Warrants for 621,303 shares at an exercise price of $8.45 per share, with the exercise price for September and January Warrants reduced to $4.20 per share [1] - The gross proceeds from the exercise of the warrants are expected to be approximately $4.3 million before fees and expenses [1] Summary of the Warrant Agreement - The company will issue unregistered Series A Warrants for 1,301,945 shares and Series B Warrants for 1,209,099 shares, both with an exercise price of $4.20 per share [3] - The December 2024 Warrants will be exchanged for New Warrants to purchase shares equal to 100% of the number of shares issuable upon exercise of the December Warrants [3] - The new warrants will be immediately exercisable and will expire five years from the date of issuance [3] Company Overview - Trust Stamp is a global provider of AI-powered identity services across various sectors, including banking, finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services [4] - The company's technology aims to reduce fraud, secure data, authenticate users while protecting privacy, and enhance operational efficiency, facilitating secure financial inclusion [4] - Trust Stamp operates with a diverse team from twenty-two nationalities across eight countries and is listed on the Nasdaq Capital Market [5]