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]

Company Overview - Proactive is a publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team operates from key finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - The company specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive delivers news and insights across various sectors, including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Insights - Trust Stamp has reached a milestone of 100 financial service customers and is now focusing on expanding its privacy-enhancing technologies into the WealthTech sector [1][2] - The company has joined the Founders Arena, a startup accelerator aimed at supporting growth in the WealthTech industry [1][3] Company Developments - Trust Stamp's President, Andrew Gowasack, highlighted the increasing demand for security and privacy solutions among wealth management providers, who face similar fraud challenges as banking and insurance sectors [2] - The company aims to leverage its partnership with the Founders Arena to accelerate its growth in the WealthTech space, benefiting from the accelerator's industry experience and corporate support [3] Industry Context - Wealth management firms are becoming prime targets for cybercriminals, with significant financial losses reported due to sophisticated fraud tactics [2] - In 2024, cyber threats and fraud scams resulted in over $16.6 billion in losses, marking a 33% increase from the previous year, indicating a growing need for enhanced security measures in the financial services sector [2]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team covers key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2][3] Group 2 - The team delivers news and insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4][5] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

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