T Stamp (IDAI) Q1 2025 earnings summary

Executive summary

• Net revenue for Q1 2025 was $545,471, a 4.9% decrease year-over-year, mainly due to reduced fixed monthly license fees from a key customer, partially offset by new service agreements.

• Q1 2025 10-Q filed after market close on May 15, 2025, covering the three months ended March 31, 2025.

• Institutional customers on the SaaS Orchestration Layer platform increased to 94, up from 80 at the end of Q4 2024.

• Operating loss improved by 24.1% to $2.16 million, driven by a 28.3% reduction in SG&A expenses and lower R&D costs.

• The company continues to focus on AI-powered identity solutions, expanding its IP portfolio, and targeting new markets through partnerships.

Financial highlights

• Net loss for Q1 2025 was $2.16 million, compared to $2.68 million in Q1 2024.

• Cash and cash equivalents at March 31, 2025 were $1.14 million, down from $2.78 million at year-end 2024.

• Accumulated deficit reached $63.62 million as of March 31, 2025.

• Net cash used in operating activities was $1.54 million, a 28.6% improvement year-over-year.

• Additional $197K in revenue fully earned but deferred under ASC 606.

Outlook and guidance

• Management anticipates the need to raise additional capital within six months to fund operations.

• Revenue growth is expected from expanded partnerships and the relaunch of the Orchestration Layer 2.0 in Q2 2025.

• Anticipated FY 2025 revenue from existing contracted customers expected to exceed $5.0M, excluding non-revenue-generating contracts.

• Expense reductions for the rest of 2025 estimated to save $0.18M per month compared to 2024.

• Estimated average cash burn for the remaining nine months of 2025 is $0.24M per month, covered by cash on hand and an unused $6.1M equity distribution agreement.