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T Stamp (IDAI) - 2025 Q2 - Quarterly Report
T Stamp T Stamp (US:IDAI)2025-08-14 20:09

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements Unaudited condensed consolidated financial statements and notes for T Stamp Inc. for periods ended June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheets Presents T Stamp Inc.'s condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024 | ASSETS (in USD) | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :------------ | :---------------- | | Cash and cash equivalents | $292,054 | $2,783,321 | | Accounts receivable, net | $812,517 | $332,931 | | Total Current Assets | $1,458,163 | $4,667,300 | | Total Assets | $5,658,750 | $8,599,824 | | LIABILITIES (in USD) | | | | Total Current Liabilities | $1,666,586 | $4,165,845 | | Total Liabilities | $3,051,553 | $5,410,980 | | STOCKHOLDERS' EQUITY (in USD) | | | | Total Stockholders' Equity | $2,607,197 | $3,188,844 | - Total Assets decreased by approximately $2.94 million from December 31, 2024, to June 30, 2025, primarily driven by a significant reduction in Cash and cash equivalents and a decrease in Current Portion of Loans Payable10 - Total Current Liabilities decreased by approximately $2.49 million, largely due to the repayment of the current portion of loans payable10 Condensed Consolidated Statements of Operations T Stamp Inc.'s condensed consolidated statements of operations for Q2 and H1 2025 versus 2024 | Metric (in USD) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net revenue | $812,667 | $500,395 | $1,358,138 | $1,074,071 | | Total operating expenses | $2,495,272 | $3,125,761 | $5,203,729 | $6,548,695 | | Operating loss | $(1,682,605) | $(2,625,366) | $(3,845,591) | $(5,474,624) | | Net loss | $(1,711,958) | $(2,598,361) | $(3,869,345) | $(5,276,930) | | Basic and diluted net loss per share | $(0.69) | $(3.19) | $(1.57) | $(7.09) | - Net revenue increased by 62.41% for the three months ended June 30, 2025, and by 26.45% for the six months ended June 30, 2025, compared to the respective prior periods, primarily due to a new Master Technology Services Agreement with QID13216231 - Operating loss decreased significantly by 35.91% for the three months and 29.76% for the six months ended June 30, 2025, driven by increased revenue and substantial reductions in Selling, General, and Administrative (SG&A) expenses13225242 Condensed Consolidated Statements of Comprehensive Loss Presents T Stamp Inc.'s condensed consolidated statements of comprehensive loss for Q2 and H1 2025 versus 2024 | Metric (in USD) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net loss | $(1,711,958) | $(2,598,361) | $(3,869,345) | $(5,276,930) | | Foreign currency translation adjustments | $(133,515) | $3,698 | $(175,784) | $35,389 | | Total other comprehensive income (loss) | $(133,515) | $3,698 | $(175,784) | $35,389 | | Comprehensive loss | $(1,845,473) | $(2,594,663) | $(4,045,129) | $(5,241,541) | - The Company experienced a negative foreign currency translation adjustment of $(133,515) for the three months and $(175,784) for the six months ended June 30, 2025, contrasting with positive adjustments in the prior year periods17 Condensed Consolidated Statements of Stockholders' Equity Details T Stamp Inc.'s condensed consolidated statements of stockholders' equity for the six months ended June 30, 2025 | Metric (in USD) | Balance, January 1, 2025 | Balance, June 30, 2025 | | :-------------------------------- | :----------------------- | :--------------------- | | Common Stock Amount | $20,234 | $24,953 | | Additional Paid-In Capital | $64,284,462 | $67,743,225 | | Accumulated Other Comprehensive Income | $181,148 | $5,364 | | Accumulated Deficit | $(61,458,439) | $(65,327,784) | | Total Stockholders' Equity | $3,188,844 | $2,607,197 | - Total Stockholders' Equity decreased from $3,188,844 at January 1, 2025, to $2,607,197 at June 30, 2025, primarily due to the net loss attributable to T Stamp Inc. and negative currency translation adjustments, partially offset by proceeds from common stock issuances24 - Additional Paid-In Capital increased by over $3.4 million during the six months ended June 30, 2025, largely from the issuance of common stock, prefunded warrants, and common stock warrants, net of fees24 Condensed Consolidated Statements of Cash Flows Presents T Stamp Inc.'s condensed consolidated statements of cash flows for the six months ended June 30, 2025, and 2024 | Cash Flow Activity (in USD) | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------------------- | :--------------------------- | :--------------------------- | | Net cash flows used in operating activities | $(2,096,553) | $(3,756,928) | | Net cash flows used in investing activities | $(469,010) | $(363,086) | | Net cash flows from financing activities | $126,102 | $1,633,487 | | Net change in cash and cash equivalents | $(2,491,267) | $(2,481,214) | | Cash and cash equivalents, end of period | $292,054 | $659,533 | - Net cash used in operating activities decreased by 44.20% to $2.10 million for the six months ended June 30, 2025, compared to $3.76 million in the prior year, primarily due to a lower net loss and adjustments for non-cash items and changes in working capital27255 - Net cash flows from financing activities significantly decreased to $126,102 in 2025 from $1,633,487 in 2024, despite raising $3.21 million from securities issuance, due to the repayment of a $3.07 million secured promissory note27260 [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%