T Stamp Inc

truststamp.ai

T Stamp Inc (NASDAQ: IDAI) is an identity authentication technology company that provides biometric and tokenized identity verification services to financial institutions and other enterprise customers. Revenue comes primarily from professional services fees, with the business actively transitioning toward recurring Software-as-a-Service revenue streams as of the FY2025 10-K filed March 31, 2026. The company generated $3.14 million in net revenue for the year ended December 31, 2025, a 1.85% increase from $3.08 million in FY2024. Customer concentration is high: a single S&P 500 bank accounted for $2.02 million, or approximately 64%, of FY2025 net revenue, with a contract extended through May 31, 2031 carrying minimum gross revenue exceeding $12.7 million. Additional FY2025 revenue came from QID ($600 thousand license fee), Triton ($151 thousand), FIS ($141 thousand), Mastercard ($137 thousand), and ID Dataweb ($69 thousand). The company reported an Adjusted EBITDA loss of $5.77 million for FY2025, down from a $7.29 million loss in FY2024. FIS serves as the sole channel distribution partner as of the filing date.