Atlanta, Jan. 10, 2022 (GLOBE NEWSWIRE) — Trust Stamp (OTCQX: IDAI, Euronext Growth: AIID ID), a global provider of AI-powered privacy-first trust and identity services used across multiple sectors, is pleased to report a positive year-end review of 2021, characterized by significant company-wide growth.
Trust Stamp CEO Gareth N. Genner comments: “The 2021 fiscal year was exciting and transformational for Trust Stamp. Despite exceptional market conditions, we were able to achieve record growth in every aspect of our business, from our team size and our intellectual property portfolio to our prospect and client base, and notably, in our market capitalization and revenue.
Our momentum coming out of 2021 has positioned us to further accelerate our growth, with the capital, team, technology, clients, and prospects needed to target another record year.
On behalf of the Trust Stamp team, I want to thank you for your continued support as we execute our mission to accelerate secure global financial and societal inclusion, and I very much look forward to sharing our continued progress with you as the year unfolds.”
2021 Business Highlights
- 121% YoY increase in Non-GAAP Billed Revenue* (unaudited)
- 195% YoY increase in Q4 Non-GAAP Billed Revenue* (unaudited)
- 156% growth in our split-adjusted share price from January 1 to December 31, 2021
- 195% Increase in our market capitalization from January 1 to December 31, 2021
- $3.92M initial contract with the US Department of Homeland Security, launching our entry into the $400B+ GovTech market and reflecting the maturity and broad applicability of our privacy-first approach to identity.
- Established Cryptovault Offering and MetapresenceTM subsidiary, continuing to develop our competitive position in response to the increased market demand for, and mainstreaming of, digital asset services to meet the needs of today’s consumers.
- Executed $12.84M in equity raises, bringing Trust Stamp’s total raised capital to over $30.05M. After closing one of the first ever oversubscribed $5M Regulation CF offerings, Trust Stamp has a Shareholder base of over 3,500 direct investors, many having participated in multiple raises.
- 50% growth in the number of contracted clients, in addition to increased engagement with existing customers and partners as a result of strengthened sales and marketing initiatives, along with accelerated productization of the Company’s IP to meet commercial opportunities.
- 32% team growth (from 75 to 99) with a focus on speeding Research and Development (“R&D”) and productization and expanding the global sales team’s capacity to address growing interest across geographies and verticals.
- Patent portfolio increased to 11 allowances and issuances, most significantly including the allowance of a patent for Trust Stamp’s revolutionary privacy-first identity tokenization technology: the IT2. Trust Stamp also has an additional 12 patents pending, reflecting the Company’s substantial investment into R&D into transformational identity and trust solutions striving for unmatched privacy, security, and utility, at a fraction of the cost of legacy solutions.
- Opened our biometric R&D campus for Africa in Rwanda as part of our commitment to delivering equitable, accessible, and secure identity technologies that power inclusion for all races and ethnologies, in all regions of the world.
- Obtained an OTCQX listing and applied for up-listing to the Nasdaq Capital Market, marked by several strategic corporate actions in the second half of the year intended to assist in meeting the requirements for listing.
About Trust Stamp
Trust Stamp is a global provider of AI-powered privacy-first identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located in seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 90 people in nine countries.
Safe Harbor Statement: Caution Concerning Forward-Looking Remarks
All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
* Unaudited non-GAAP Billed Revenue: The (unaudited) non-GAAP Billed Revenue represents revenue billed in the referenced year (excluding 2020 revenue received from an affiliated entity) and will be adjusted under GAAP reporting standards for factors including (but not limited to) the period over which the revenue is deemed to be earned, and the deduction of re-billed and recovered expenses.
CONTACT: Enquiries Trust Stamp Email: Shareholders@truststamp.ai Gareth Genner, Chief Executive Officer Nisha Naik, Executive VP of Communications
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