T Stamp Inc
T Stamp Inc. develops identity authentication software and related proprietary technologies for enterprise, government, and peer-to-peer use cases. The company’s platform combines biometrics, cryptography, machine learning, and data-mining tools to protect sensitive data, reduce fraud, and enable digital identity verification across financial services and other sectors.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCore software used to verify identity, protect data, and support digital access workflows.
Custom development, hosting, and support services delivered under customer agreements.
Licensing of proprietary technology for use in third-party applications and platforms.
Software for secure digital asset access, wallet functionality, and token identity use cases.
Products
Reported · share of revenue- Professional Services Over Time88.9 %
- License Fees Over Time11.1 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
T Stamp sells primarily to enterprise and institutional customers that need identity verification, fraud reduction, and secure digital access. Its disclosed customer base includes financial institutions such as banks, Mastercard, and FIS, as well as other commercial partners and end-users through software and licensing channels.
Banks and financial services firms buy identity authentication, orchestration, and KYC-related software to reduce fraud and support onboarding.
Payment companies and network partners buy hosted software and implementation support for identity and transaction workflows.
Organizations use the company’s software to secure access, protect data, and automate identity-related processes.
Partners license Trust Stamp IP for integration into sector-specific applications such as healthcare, IoT, and smart home systems.
End-users may use wallet and digital identity products for secure access to digital assets and services.
Strategy
The company is focused on commercializing proprietary identity, biometrics, and cryptography technologies through direct enterprise contracts and partner-led licensing. It is also extending its platform into adjacent use cases such as stablecoins, digital wallets, healthcare, IoT, access control, and computer vision, which broadens the addressable market for its IP.
Large institutions can provide recurring service, hosting, and implementation revenue.
Licensing can scale the technology into multiple industries without full direct-sales execution.
Identity-linked token and wallet tools extend the platform into digital asset markets.
Geography
T Stamp is a U.S.-based company with operations and subsidiaries that extend beyond the United States, including Rwanda. Its reported business activity also references Africa and global partner markets, reflecting a model that combines direct enterprise relationships with international licensing and deployment opportunities.
Risks
T Stamp depends on a small number of large customer relationships, so contract timing, renewals, or terminations can materially affect revenue. The business also faces execution risk in commercializing new products and licensing IP across multiple verticals, while its international footprint creates foreign-currency and operational complexity.
A limited number of institutional customers account for a meaningful share of revenue, so contract changes can quickly affect results.
The company has historically needed external capital to support operations and technology investment.
Exposure: Equity raises and warrant exercises
The company is investing in new wallet, crypto, and adjacent-market products that may take time to gain adoption.
Subsidiary activity outside the U.S. can create translation gains/losses and operational complexity.
Exposure: Rwanda subsidiary and intercompany balances
Accounting
Judgemental itemsHosted services, development work, and licensing arrangements may have different recognition patterns and performance obligations.
Impact: Affects quarterly revenue timing and comparability
The company invests in technologies intended to be monetized over time, which can defer expense recognition.
Impact: Affects operating expense and asset balances
Outstanding warrants may be measured at fair value with changes flowing through earnings.
Impact: Can create non-cash volatility in net income
Intercompany transactions and non-U.S. subsidiaries create translation gains and losses.
Impact: Affects other expense and comprehensive income
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Last updated: 29/04/2026