Trust Stamp announces that it filed its 2024 FY 10-K after the Nasdaq market closed on March 31st, 2025, highlighted Q4 2024 results including revenue that substantially exceeded recent analysts' forecasts, and gave estimated revenue, expense, and cash-burn guidance for 2025 based on existing contracted revenue Atlanta, GA, April 01, 2025 (GLOBE NEWSWIRE) -- Trust Stamp announces that: Inquiries: Trust Stamp Email: Shareholders@truststamp.ai Safe Harbor Statement: Caution Concerning Forward-Looking Remarks ...

Financial Performance - For the fiscal year ended December 31, 2024, the company incurred a net loss of $12.54 million, compared to a net loss of $7.64 million for the fiscal year ended December 31, 2023, indicating a 64.5% increase in losses year-over-year[95]. - The company's accumulated deficit reached $61.46 million as of December 31, 2024, reflecting ongoing financial challenges[96]. - Adjusted EBITDA loss for the year ended December 31, 2024, increased by 12.17% to $7.29 million from $6.50 million in 2023[212]. - The Company recognized a net loss before taxes of $10,597,348 for the year ended December 31, 2024, compared to a loss of $7,651,127 in 2023[212]. - The company has not yet generated profits and anticipates that operating expenses will increase in the near future[96]. Business Development and Expansion - Trust Stamp opened an office in Tokyo to pursue opportunities in the APAC region, funded by the City of Tokyo and the Japanese government[19]. - The company has established Trust Stamp Nigeria Limited on January 31, 2024, to explore business opportunities in Nigeria[89]. - Trust Stamp Malta Limited operates an R&D campus in Malta, supported by a repayable advance of up to €800,000 to cover 75% of payroll costs for new employees[81]. - The company has established a regional R&D center in Rwanda and is in discussions with two African countries for national-level digital identity programs[29]. - The Company plans to focus on joint ventures with industry partners to enhance market access and reduce overhead costs[168]. Technology and Innovation - The company has expanded its IP portfolio with technologies such as embedded ownership verification for crypto-assets and a biometric verification utility called "Shape Overlay"[19]. - Trust Stamp's technology is designed to enhance KYC/AML compliance and reduce synthetic identity fraud, improving user experience[33]. - The Company has developed several innovative technologies, including "Shape Overlay" for biometric verification and "Stable Key" for secure password management[168]. - Trust Stamp has multiple pending patents related to biometric systems, including a patent for "Systems and Processes for Lossy Biometric Representations" filed on March 23, 2022, which is currently issued with a maintenance fee due by February 28, 2027[71]. - The company has a total of 15 patents related to biometric technology, with various statuses including issued and pending[74]. Customer and Revenue Generation - The Company has onboarded over 60 financial institutions with a total of $348 billion in assets as of December 31, 2024, with 79 customers either fully implemented or currently implementing the Orchestration Layer[51]. - The first non-FIS client onboarded to the Orchestration Layer has generated $426,000 in revenue to date, including $193,000 during the year ended December 31, 2024[51]. - The Company generated revenue through a Master Software Agreement with an S&P 500 bank and a ten-year technology services agreement with Mastercard, both of which are expected to drive future revenue growth[47]. - The Company currently relies on three customers for substantially all of its revenues, which poses a risk if any of these customers are lost[117]. Regulatory and Compliance Issues - The Company is currently compliant with licensing requirements in Atlanta and Rwanda but anticipates potential future regulations related to biometric data[52]. - The company is subject to significant governmental regulations regarding data privacy and biometric data handling, including HIPAA, GDPR, and CCPA[53][61][63]. - The company faces risks related to foreign currency fluctuations, as the majority of its revenue is US Dollar denominated while a significant percentage of expenses are incurred in other currencies[99]. - The company is subject to substantial governmental regulation regarding data privacy and may incur significant costs to comply with these regulations[101]. Operational Challenges - The company continues to face risks associated with being an early-stage company, including the potential for ongoing operating losses and challenges in achieving profitability[92][94]. - The company faces challenges in managing indirect sales channels, which may require more management attention and could limit revenue growth[119]. - The company may encounter significant delays and unexpected expenses related to product development and market acceptance, impacting its growth potential[106]. - The company identified material weaknesses in internal controls over financial reporting as of December 31, 2024, impacting its ability to accurately account for complex equity transactions[132]. Capital and Financing - The company expects to raise additional capital through equity and/or debt offerings to support working capital requirements and operating losses[99]. - The Company raised approximately $3.50 million from the January 2025 Offering, with potential additional proceeds of approximately $5,250,250 if all Private Placement Warrants are exercised[188]. - An Equity Distribution Agreement with Maxim Group allows the Company to sell up to $6,196,000 worth of Common Stock over a 12-month period[169]. - The Company must obtain shareholder approval for an increase in authorized shares within 60 days following the closing of the December 2024 SPA[193]. Management and Governance - Lance Wilson appointed as Chief Financial Officer effective January 1, 2025, with an annual base salary of $182,250 and eligibility for a minimum 10% equity bonus[180]. - The Board reserves the right to grant long-term stock-based compensation to align executive performance with long-term business strategies[157]. - The Board of Directors has the discretion to grant incentive bonuses linked to the Company's performance and individual executive performance[156]. Cybersecurity and Risk Management - The Company did not experience any material cybersecurity breaches during the year ended December 31, 2024[141]. - The Company has strengthened its cybersecurity certifications by adding SOC2 certification and renewing D-Seal certification[175].

Company Overview - Trust Stamp is a global provider of AI-powered services across various sectors including banking, finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services [1][2] - The company's technology aims to reduce fraud, tokenize and secure data, authenticate users while protecting privacy, and enhance operational efficiency, thereby facilitating secure financial inclusion [1] Financial Performance - Trust Stamp plans to file its 10-K report for the 2024 Financial Year after the Nasdaq market closes on March 31, 2025 [4] - The revenue for Q4 2024 is projected to be $1.497 million, a significant increase from $0.575 million in Q4 2023, surpassing analysts' forecasts of $0.51 million [4] - Anticipated revenue from existing customers for the full year 2025 is expected to exceed $5.0 million [4]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Core Insights - Trust Stamp has received a patent for its "Shape Overlay for Proof of Liveness" mechanism, enhancing biometric security against deepfake and injection attacks [1][2][4] - The innovation addresses vulnerabilities in traditional biometric authentication methods, particularly against sophisticated digital fraud techniques [2][4] - The patented system requires user interaction with randomly generated shape overlays, ensuring real-time verification of a live subject without the need for specialized hardware [3][4] Company Overview - Trust Stamp is a global provider of AI-driven identity authentication solutions, focusing on privacy-first biometric security [5] - The company aims to enhance digital identity protection across various sectors, including financial services, government, and enterprise applications [5] - Trust Stamp emphasizes accessibility and cost-effectiveness in its security solutions, making robust biometric security available to a wider audience [3][4]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is focused on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4] - Automation and software tools, including generative AI, are used, but all content is edited and authored by humans [5]

Core Insights - Trust Stamp has been awarded the D-seal certification, which combines IT security and responsible data usage, reinforcing its leadership in ethical and privacy-preserving digital identity solutions [1][5] - The D-seal certification enhances Trust Stamp's commitment to responsible digital practices, particularly in humanitarian aid, financial inclusion, and public sector services [3][5] Group 1: Trust Stamp's Achievements - The D-seal certification is the first of its kind, emphasizing the importance of IT security and responsible data usage [1] - Trust Stamp's privacy-first solutions are designed to meet the highest ethical and security standards, particularly for organizations in humanitarian aid and financial sectors [1][3] Group 2: Impact on Humanitarian Sector - The humanitarian sector has historically prioritized efficiency and fraud prevention over privacy, leading to risks for vulnerable populations [2] - Trust Stamp's D-seal certification aims to shift this focus towards privacy and responsible data practices, reducing risks of data breaches and misuse [2] Group 3: Financial Inclusion - Trust Stamp's technology provides secure, interoperable identity solutions that empower unbanked individuals, facilitating access to financial services [3] - The company’s approach minimizes risks of misuse or exploitation while enhancing fraud prevention and operational efficiency [3] Group 4: Public Sector Solutions - Trust Stamp's commitment extends to governments, helping them modernize digital infrastructure while avoiding vendor lock-in [4] - The D-seal achievement supports the development of secure, ethical, and interoperable identity solutions that promote innovation and sustainability in public services [4] Group 5: Technological Advancements - Trust Stamp is addressing the lack of interoperability in facial biometrics through recent patents, allowing users to compare biometric samples across different vendors [5] - The company aims to create an open-format standard for identity solutions, enhancing security and scalability [5] Group 6: Company Overview - Trust Stamp is a global provider of AI-powered identity services across various sectors, including banking, finance, and humanitarian services [8] - The company operates in six countries and is listed on the Nasdaq Capital Market [9]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and improve 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 received a patent for its "Interoperable Biometric Representation" framework, which enhances biometric interoperability while prioritizing privacy and security [1][4] - The lack of interoperability in biometric systems has limited their adoption, as different vendors use proprietary data formats that prevent comparison across systems [2] - Trust Stamp's framework converts biometric data into a universal format, allowing seamless recognition and validation across platforms without altering existing vendor processes [3][4] Company Overview - Trust Stamp is a global provider of AI-powered identity services, focusing on sectors such as banking, finance, regulatory compliance, government, real estate, communications, and humanitarian services [7] - The company aims to reduce fraud, protect personal data privacy, and enhance operational efficiency through advanced biometric identity solutions [7] - Trust Stamp is publicly traded on the Nasdaq Capital Market under the ticker IDAI and operates across North America, Europe, Asia, and Africa [8] Technological Innovation - The new framework allows for the comparison of biometric samples from different vendors by converting them into a common format, addressing the current lack of interoperability [4] - It includes an open-format neural network solution that enables approved vendors to generate compliant face templates, eliminating the need for proprietary conversions [4] - The system generates privacy-secured tokens (IT2™) that facilitate biometric matching without storing sensitive data, thus enhancing user privacy [3][4] Industry Impact - This innovation addresses long-standing issues of vendor lock-in, enabling users to compare biometric data from multiple sources without being tied to a single vendor [4] - Trust Stamp's advancements contribute to a more open, secure, and accessible digital identity ecosystem, promoting secure financial inclusion [4]

Core Insights - Trust Stamp has received a patent for its "Interoperable Biometric Representation" framework, which addresses biometric interoperability challenges while enhancing privacy and security [1][4] - The lack of interoperability in biometric systems has hindered their adoption, as different vendors use proprietary data formats, leading to vendor lock-in for users [2] - Trust Stamp's framework converts biometric data into a universal format, allowing seamless recognition and validation across different platforms without altering existing vendor processes [3][4] Company Overview - Trust Stamp is a global provider of AI-powered identity services across various sectors, including banking, finance, and government, focusing on reducing fraud and protecting personal data privacy [7][8] - The company emphasizes its commitment to secure, privacy-first identity verification solutions that promote financial inclusion and enhance cross-platform biometric authentication [4] Technological Innovation - The new framework generates privacy-secured tokens (IT2™) that enable biometric matching without storing sensitive data, thus functioning as a Privacy Enhancing Technology (PET) [3][4] - The solution allows for the comparison of biometric samples from different vendors by converting them into a common format, eliminating the need for proprietary conversions [4]