Trust Stamp posts 22% revenue growth in H1, expands African telecom work

Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID) said its gross for the six-month play ended June 30 accrued 22% year-over-year, driven mostly by higher gross from its S&P 500 slope lawsuit and $192,000 billed successful the 2nd 4th for enactment with a multinational telecommunications institution operating successful Africa.

The individuality verification reported nett recognized gross of $1.66 cardinal for the six months ended June 30, 2026, up from $1.36 cardinal a twelvemonth earlier.

"The summation successful recognized gross reflects a precocious level of continued show connected historical engagements successful parallel to our enactment with caller clients that we expect volition effect successful important billable revenue," CEO Gareth Genner told shareholders.

The institution said its engagement with the telecom lawsuit has continued to grow since the extremity of the period, with an further $800,000 of enactment merchandise delivered, bringing full billed and billable enactment for that lawsuit to $992,000.

Trust Stamp said it is successful negotiations with a 2nd African telecoms institution and continues to advancement talks connected 3 government-related contracts successful Ghana, which it expects to effect successful 1 oregon much definitive agreements during fiscal 2026.

The institution identified a income pipeline of imaginable governmental and backstage assemblage customers worthy $42.4 cardinal for 2026 and 2027 combined, which it estimates could make $9.48 cardinal successful gross aft adjusting for the likelihood of contracting.

Total operating expenses roseate to $6.32 cardinal from $5.20 cardinal a twelvemonth earlier, an summation of $1.12 cardinal that included $1.42 cardinal successful non-cash expenses. The institution attributed the emergence to upfront costs tied to the telecom engagement, one-time acquisition expenses related to Lexverify, improvement costs for its Wallet of Wallets platform, and $250,000 successful one-time expenses tied to a financing circular completed successful the 2nd quarter.

Net nonaccomplishment for the play was $4.93 million, compared with $3.87 cardinal successful the prior-year period, a 27.29% increase.

Cash and currency equivalents stood astatine $6.31 cardinal arsenic of June 30, 2026, with full existent assets of $8.14 cardinal erstwhile including receivables and prepaid expenses.