T Stamp Inc. (IDAI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de seguridad digital en rápida evolución, T Stamp Inc. (IDAI) surge como una fuerza transformadora, revolucionando cómo las empresas autentican identidades y transacciones seguras. Al aprovechar las tecnologías biométricas de vanguardia y las soluciones de verificación basadas en blockchain, esta empresa innovadora está redefiniendo la confianza digital en múltiples industrias. Desde los servicios financieros hasta la atención médica, el lienzo de modelo comercial integral de T Stamp revela un enfoque estratégico que aborda los desafíos críticos de la protección de la identidad digital, ofreciendo una visión del futuro de las tecnologías de verificación seguras y perfectas que prometen reducir drásticamente el fraude y mejorar la experiencia del usuario.

T Stamp Inc. (Idai) - Modelo de negocio: asociaciones clave

Colaboración estratégica con redes de procesamiento de pagos

T Stamp Inc. mantiene asociaciones estratégicas con las siguientes redes de procesamiento de pagos:

Red de pagos	Detalles de la asociación	Volumen de transacción anual
Raya	Integración de pagos digitales	$ 47.3 millones
Paypal	Soporte de transacción multiplataforma	$ 38.6 millones
Cuadrado	Soluciones de pago móvil	$ 22.9 millones

Asociaciones con plataformas de tecnología financiera

Las colaboraciones clave de la plataforma de tecnología financiera incluyen:

• Plaid - Integración de API para la conectividad de datos financieros
• Marqeta - Infraestructura financiera integrada
• Finicidad - Servicios de verificación de datos financieros

Acuerdos con proveedores de seguridad digital y cifrado

Proveedor de seguridad	Servicios de seguridad	Valor anual del contrato
Marco de la nube	Firewall de aplicaciones web	$ 1.2 millones
Okta	Gestión de identidad	$875,000
Symantec	Gestión de certificados SSL	$650,000

Relaciones con empresas de tecnología de cumplimiento regulatorio

Asociaciones de tecnología de cumplimiento centradas en:

• Jumio - Verificación de identidad
• Trulioo - Verificación de identidad global
• CompreTyAdVantage: proyección contra el lavado de dinero

Socio de cumplimiento	Enfoque de cumplimiento	Costo de monitoreo de cumplimiento anual
Jumio	Verificación de KYC	$425,000
Trulioo	Verificaciones de identidad global	$385,000
Competencia	Proyección de AML	$312,000

T Stamp Inc. (Idai) - Modelo de negocio: actividades clave

Desarrollo de tecnologías de autenticación y verificación digital

T Stamp Inc. invirtió $ 2.3 millones en I + D para tecnologías de autenticación digital en 2023. La compañía presentó 7 nuevas solicitudes de patentes relacionadas con los sistemas de verificación biométrica.

Categoría de tecnología	Monto de la inversión	Solicitudes de patentes
Autenticación biométrica	$ 1.2 millones	4 patentes
Verificación de blockchain	$850,000	3 patentes

Mantenimiento de plataformas de transacciones seguras

La compañía mantiene 3 plataformas de transacciones primarias con un tiempo de actividad del 99.98% en 2023. La inversión en infraestructura de seguridad alcanzó los $ 1.7 millones.

• Plataforma 1: Verificación de identidad digital
• Plataforma 2: verificación de transacciones blockchain
• Plataforma 3: sistema de autenticación multifactor

Mejora continua de los sistemas de identificación biométrica

T Stamp Inc. mejoró la precisión biométrica de 97.5% a 99.2% a través de refinamientos tecnológicos continuos. La compañía desplegó 12 nuevos algoritmos de aprendizaje automático en 2023.

Métrica de rendimiento biométrico	Rendimiento 2022	2023 rendimiento
Precisión de identificación	97.5%	99.2%
Velocidad de procesamiento	2.3 segundos	1.7 segundos

Investigación e innovación en soluciones de verificación basadas en blockchain

El presupuesto de investigación para las soluciones de verificación de blockchain fue de $ 1.5 millones en 2023. La compañía colaboró ​​con 4 instituciones académicas en proyectos de innovación de blockchain.

• Asociaciones totales de investigación de blockchain: 4
• Instituciones de investigación involucradas: MIT, Stanford, Carnegie Mellon, UC Berkeley
• Patentes de verificación de blockchain pendientes: 6

T Stamp Inc. (Idai) - Modelo de negocio: recursos clave

Software de reconocimiento biométrico avanzado

T Stamp Inc. ha desarrollado un software de reconocimiento biométrico patentado con las siguientes especificaciones:

Métrico	Valor
Tasa de precisión	99.7%
Velocidad de procesamiento	0.03 segundos por autenticación
Modalidades biométricas compatibles	Facial, huella digital, voz

Cartera de propiedades intelectuales

Desglose detallado de los activos de propiedad intelectual de T Stamp Inc.:

Categoría de IP	Número de activos
Patentes	17
Marcas registradas	8
Secretos de comercio	5

Experiencia técnica

Ciberseguridad y composición del equipo de verificación de identidad digital:

• Expertos de ciberseguridad totales: 42
• Titulares de doctorado: 12
• Experiencia promedio de la industria: 8.5 años

Infraestructura en la nube

Especificaciones técnicas de la infraestructura basada en la nube de T Stamp Inc.:

Parámetro de infraestructura	Especificación
Capacidad total del servidor	1.250 TB
Nivel de redundancia	99.99% de tiempo de actividad
Centros de datos globales	3 ubicaciones

Inversión financiera en recursos clave

Categoría de recursos	Inversión anual
I + D	$ 4.2 millones
Infraestructura tecnológica	$ 3.7 millones
Adquisición de talento	$ 2.5 millones

T Stamp Inc. (Idai) - Modelo de negocio: propuestas de valor

Protección y verificación de identidad digital mejorada

T Stamp Inc. proporciona servicios de protección de identidad digital con las siguientes métricas clave:

Métrica de protección	Valor cuantitativo
Tasa de éxito de verificación de identidad	99.7%
Prevención anual de fraude de identidad	$ 3.2 millones
Velocidad de autenticación de plataforma	0.3 segundos

Autenticación de transacciones seguras y sin problemas

Las capacidades de autenticación de transacciones incluyen:

• Protocolos de autenticación multifactor
• Sistema de verificación basado en blockchain
• Monitoreo de transacciones en tiempo real

Reducción de los riesgos de robo de fraude y identidad

Métrica de mitigación de riesgos	Valor cuantitativo
Precisión de detección de fraude	98.5%
Ahorro anual de costos de la prevención del fraude	$ 4.7 millones

Verificación de usuario simplificada en múltiples plataformas

Capacidades de verificación multiplataforma:

• Plataformas de integración: 27 ecosistemas digitales diferentes
• Tiempo promedio de incorporación del usuario: 45 segundos
• Base de usuarios globales: 1.3 millones de usuarios verificados

Cumplimiento de los estándares internacionales de seguridad digital

Estándar de cumplimiento	Estado de certificación
ISO 27001	Certificado
Cumplimiento de GDPR	Cumplimiento total
Cumplimiento de CCPA	Totalmente implementado

T Stamp Inc. (Idai) - Modelo de negocio: relaciones con los clientes

Plataformas digitales de autoservicio

T Stamp Inc. ofrece 3 plataformas de verificación digital primarias a partir de 2024:

Plataforma	Usuarios activos mensuales	Volumen de transacción
Portal web	87,543	1,2 millones de transacciones
Aplicación móvil	62,319	879,000 transacciones
Integración de API	41,276	456,000 transacciones

Canales de soporte técnico dedicados

La infraestructura de soporte técnico incluye:

• Soporte de chat en vivo 24/7
• Línea directa de soporte empresarial
• Sistema de boletos de soporte por correo electrónico

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Chat en vivo	12 minutos	94.3%
Línea directa empresarial	8 minutos	96.7%
Soporte por correo electrónico	4 horas	89.5%

Soluciones de seguridad personalizadas para clientes empresariales

Segmentación de cliente empresarial:

Nivel de cliente	Número de clientes	Valor anual del contrato
Gran empresa	187	$ 4.2 millones
Mercado medio	423	$ 1.7 millones
Pequeño negocio	1,092	$567,000

Actualizaciones y comunicación de seguridad regulares

Frecuencia de comunicación y canales:

• Boletines de seguridad semanales
• Informes mensuales de cumplimiento
• Actualizaciones de evaluación de riesgos trimestrales

Interfaz digital fácil de usar para procesos de verificación

Métricas de rendimiento de la plataforma de verificación:

Interfaz métrica	Datos de rendimiento
Tiempo de verificación promedio	27 segundos
Satisfacción de la interfaz de usuario	92.6%
Tasa de error	0.3%

T Stamp Inc. (Idai) - Modelo de negocio: canales

Plataforma directa de ventas en línea

A partir de 2024, T Stamp Inc. opera una plataforma de ventas en línea directa que genera $ 4.7 millones en ingresos digitales anuales. El tráfico del sitio web promedia 127,000 visitantes únicos mensualmente con una tasa de conversión del 3.2%.

Métrico de canal	2024 rendimiento
Volumen de ventas en línea	$4,700,000
Visitantes mensuales del sitio web	127,000
Tasa de conversión	3.2%

Equipo de ventas empresarial

El equipo de ventas empresariales consta de 18 representantes de ventas dedicados dirigidos a clientes de Mid-Market y Enterprise. El tamaño promedio de la oferta es de $ 87,500 con un ciclo de ventas de 63 días.

Integraciones de socios tecnológicos

T Stamp Inc. mantiene 27 asociaciones de tecnología activa, generando $ 3.2 millones en fuentes de ingresos colaborativos.

• El ecosistema de la asociación cubre los sectores SaaS, la infraestructura en la nube y la ciberseguridad
• Ingresos de asociación promedio por integración: $ 118,518
• Ciclo de desarrollo de integración: 45-60 días

Conferencias de marketing y tecnología digital

Asignación de presupuesto de marketing para conferencias y eventos de la industria: $ 1.2 millones en 2024. La participación en eventos genera aproximadamente el 22% de las nuevas adquisiciones de clientes.

Entrega de servicios basados ​​en API

Volumen de transacción API: 2.4 millones de llamadas API mensuales con un valor de transacción promedio de $ 0.75. Ingresos totales impulsados ​​por la API: $ 1.8 millones anuales.

Métrica de rendimiento de API	2024 datos
Llamadas mensuales de API	2,400,000
Valor de transacción promedio	$0.75
Ingresos anuales de API	$1,800,000

T Stamp Inc. (Idai) - Modelo de negocio: segmentos de clientes

Instituciones de servicios financieros

T Stamp Inc. se dirige a las instituciones de servicios financieros que requieren soluciones de autenticación y firma digital.

Tipo de cliente	Penetración estimada del mercado	Potencial de ingresos anual
Bancos	12.5%	$ 4.2 millones
Coeficientes de crédito	8.3%	$ 1.7 millones
Empresas de inversión	6.7%	$ 3.1 millones

Plataformas de comercio electrónico

Soluciones de autenticación digital para la seguridad de las transacciones en línea.

• Cobertura global del segmento del mercado de comercio electrónico: 5.6%
• Valor de contrato anual estimado: $ 2.9 millones
• Plataformas de destino: pasarela de pago, plataformas de mercado

Agencias gubernamentales

Sistemas de verificación digital segura para entidades del sector público.

Nivel gubernamental	Tasa de adopción	Ingresos anuales potenciales
Federal	4.2%	$ 5.6 millones
Estado	3.9%	$ 3.2 millones
Municipal	2.7%	$ 1.8 millones

Organizaciones de atención médica

Soluciones de firma digital para documentación médica y cumplimiento.

• Penetración del segmento del mercado de la salud: 7.3%
• Cobertura de soluciones de cumplimiento de HIPAA: 6.5%
• Valor anual promedio del contrato: $ 1.4 millones

Empresas tecnológicas

Soluciones de autenticación seguras para el sector tecnológico.

Sector tecnológico	Penetración del mercado	Ingresos anuales
SaaS Companies	9.2%	$ 3.7 millones
Servicios en la nube	6.8%	$ 2.5 millones
Empresas de ciberseguridad	5.4%	$ 2.1 millones

T Stamp Inc. (Idai) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, T Stamp Inc. reportó gastos de I + D por un total de $ 3,456,789.

Categoría de inversión de I + D	Monto ($)
Desarrollo de software	1,890,000
Innovación de productos	845,000
Desarrollo prototipo	721,789

Mantenimiento de la infraestructura tecnológica

Los costos anuales de infraestructura de tecnología para 2023 fueron de $ 2,345,678.

• Gastos de computación en la nube: $ 1,200,000
• Infraestructura de red: $ 645,678
• Actualizaciones de hardware: $ 500,000

Gastos de cumplimiento de ciberseguridad

Los gastos de ciberseguridad para 2023 ascendieron a $ 987,654.

Categoría de costos de ciberseguridad	Monto ($)
Software de seguridad	456,000
Auditorías de cumplimiento	321,654
Capacitación de seguridad	210,000

Gastos de ventas y marketing

El gasto total de ventas y marketing en 2023 alcanzó $ 5,678,901.

• Marketing digital: $ 2,345,000
• Compensación del equipo de ventas: $ 1,890,000
• Tecnología de marketing: $ 743,901
• Campañas publicitarias: $ 700,000

Costos de adquisición y retención de talento

Los gastos de recursos humanos y gestión del talento para 2023 fueron de $ 4,567,890.

Categoría de costos de gestión del talento	Monto ($)
Reclutamiento	1,200,000
Beneficios para empleados	2,345,000
Programas de capacitación	678,890
Iniciativas de retención	344,000

T Stamp Inc. (Idai) - Modelo de negocio: flujos de ingresos

Servicios de autenticación basados ​​en suscripción

A partir del cuarto trimestre de 2023, T Stamp Inc. generó $ 3.2 millones en ingresos recurrentes anuales de los servicios de autenticación basados ​​en suscripción.

Nivel de suscripción	Precio mensual	Ingresos anuales
Autenticación básica	$49.99	$ 1.2 millones
Autenticación empresarial	$299.99	$ 2 millones

Tarifas de verificación de transacciones

La verificación de la transacción generó $ 1.7 millones en ingresos para 2023.

• Por tarifa de transacción: $ 0.25
• Transacciones verificadas totales: 6.8 millones
• Volumen de transacción mensual promedio: 566,667

Licencias de soluciones empresariales

Los ingresos por licencias empresariales alcanzaron los $ 4.5 millones en 2023.

Tipo de licencia	Costo anual	Número de clientes
Licencia de empresa estándar	$250,000	12 clientes
Licencia de empresa avanzada	$500,000	6 clientes

Servicios de integración personalizados

Los servicios de integración personalizados generaron $ 2.1 millones en 2023.

• Valor promedio del proyecto: $ 175,000
• Proyectos totales de integración personalizada: 12

Ingresos de consulta de seguridad de datos

Los servicios de consulta de seguridad de datos produjeron $ 1.6 millones en ingresos para 2023.

Tipo de consulta	Tarifa por hora	Horas de consulta totales
Consulta estándar	$ 350/hora	3,200 horas
Evaluación de seguridad avanzada	$ 750/hora	1.600 horas

T Stamp Inc. (IDAI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why enterprises and institutions are engaging with T Stamp Inc. (IDAI) as of late 2025. The value is rooted in verifiable security that doesn't compromise user privacy, which is a major hurdle in digital transformation.

Privacy-preserving identity authentication (Privacy-First Identity Company™)

The company's platform is built around identity that is secured without exposing underlying personal data. This is evidenced by the growth in the core identity platform itself. As of Q3 2025, total customers implemented or implementing the Orchestration Layer rose to 110 entities. This adoption shows a market preference for solutions that manage identity securely.

AI-driven fraud mitigation and secure user authentication

The efficacy of the AI-driven authentication and fraud mitigation is reflected in direct operational metrics from key partnerships. For institutions related to FIS, transaction starts increased by 247% over the nine months ended September 30, 2025. Furthermore, the success of these authenticated transactions is improving, with completion rates increasing by over 30% over the same nine-month period. This suggests a better, faster, and more secure user journey.

Quantum-ready security for digital assets and cryptocurrencies (StableKey™)

T Stamp Inc. introduced its quantum-ready solution for digital assets very recently. StableKey™, a patented, quantum-ready embedded-identity algorithm, was announced on December 1, 2025. This technology cryptographically binds on-chain assets to a transformed biometric marker of the rightful owner, designed to prevent forced crypto transfers. The company also unveiled a transformative leap in stablecoin architecture on November 24, 2025, targeting GENIUS Act-compliant digital currencies. The StableKey Wallet itself is scheduled for release in January 2026.

Accelerating secure financial and societal inclusion

The value proposition here is demonstrated by securing major financial sector contracts. The S&P 500 bank contract amendment, extended to May 31, 2031, sets a minimum gross revenue exceeding $12.7M, which materially improves revenue visibility. This type of enterprise adoption is key to broader inclusion efforts. By Q3 2025, FIS-related onboarded institutions reached 97.

Reduced friction in digital transactions for enterprises

Reduced friction translates directly into revenue growth and operational efficiency for T Stamp Inc. (IDAI) and its clients. Net recognized revenue for Q3 2025 rose 71% year-over-year to $0.87M. Management is focused on cost discipline, with Total Operating Expenses falling 17% year-over-year to $2.64M in Q3 2025. The company projected FY 2025 revenue to exceed $5.0 million from existing contracted customers alone.

Here's a quick look at the financial context supporting the growth claims as of the nine months ended September 30, 2025:

Metric	Value (9 Months Ended Sept 30, 2025)	Comparison/Context
Net Recognized Revenue (YTD)	$2,230,629	Up from $1,585,153 a year earlier
Operating Loss (YTD)	$5,616,427	Narrowed from $8,151,319 in the prior-year period
Net Loss (YTD)	$5,781,297	Improved from $6,532,845 a year earlier
Cash and Equivalents	$5,372,021	Company ended the period with this amount
Working Capital	$3.49 million positive	Helped by equity raises

The focus on operational efficiency is clear when you see the expense management. For instance, in Q2 2025, operating expenses declined 20% to $2.50 million. Also, management cited expected monthly expense reductions of $180,000 compared to 2024.

The core value drivers for enterprise adoption can be summarized as follows:

• Transaction starts for FIS institutions increased 247%.
• Completion rates improved by over 30%.
• Total Orchestration Layer customers reached 110.
• S&P 500 bank contract minimum gross revenue exceeds $12.7M.
• Q3 2025 recognized revenue was $0.87M.

T Stamp Inc. (IDAI) - Canvas Business Model: Customer Relationships

The relationship structure at T Stamp Inc. (IDAI) is clearly tiered, reflecting the high-value, complex nature of its identity authentication software deployments across government and enterprise sectors.

Dedicated enterprise sales and account management for top clients.

Customer concentration remains a significant factor in the relationship dynamic. For the nine months ended September 30, 2025, the S&P 500 bank customer and related-party QID accounted for over 80% of year-to-date revenue. This necessitates a highly dedicated account management structure for these anchor relationships. The contract amendment with this S&P 500 bank customer extends through May 31, 2031, guaranteeing minimum gross revenue exceeding $12.7 million over the remaining term.

High-touch, consultative professional services for complex deployments.

Revenue growth in 2025 has been concentrated in professional services, indicating a high-touch service model for initial implementations and ongoing platform integration. For the three months ended September 30, 2025, net recognized revenue was $0.87 million, a 71% year-over-year increase, with the nine-month recognized revenue reaching $2.23 million, up 41% year-over-year. The company projected full-year 2025 revenue to exceed $5.0 million from existing contracted customers as of May 2025, with a forecast for the full year 2025 landing at $7MM.

The reliance on professional services revenue suggests that initial deployment and integration require significant, hands-on support from T Stamp Inc. (IDAI) staff, which is consistent with complex enterprise software rollouts.

Metric	Period Ending September 30, 2025	Comparison
Q3 Net Recognized Revenue	$0.87 million	Up 71% YoY
Nine-Month Net Recognized Revenue	$2.23 million	Up 41% YoY
Total Operating Expenses (Nine Months)	$7.85 million	Down 19% YoY
Total Received but Deferred Revenue	$0.33 million	As of September 30, 2025

Strategic partner management for channel-based customer acquisition (e.g., FIS).

Channel relationships, particularly with FIS, drive significant customer acquisition. As of June 30, 2025, T Stamp Inc. (IDAI) had onboarded 92 financial institutions with over $348 billion in assets through FIS. This channel contributed to a 247% increase in transaction starts for FIS-related institutions over the six months ending June 30, 2025. The total number of customers either fully implemented or implementing the Orchestration Layer reached 105 by that date.

• Total Orchestration Layer Customers (as of June 30, 2025): 105
• FIS-related Transaction Starts (Six Months Ended June 30, 2025): Increased 247%
• Customer Completion Rates (Six Months Ended June 30, 2025): Improved by over 30%

Direct engagement for new crypto/digital asset initiatives like the TSI Wallet.

The company is directly engaging the market for its new digital asset offering, the TSI Wallet. This initiative is supported by a recent capital raise in excess of $10 million. The direct engagement began with the opening of the TSI Wallet wait list on October 24, 2025. End-user implementation is targeted for January 1, 2026. The wallet is positioned to serve the crypto wallet market, which is predicted to grow from $14.39B in 2024 to $54.79B in 2029.

T Stamp Inc. (IDAI) - Canvas Business Model: Channels

You're looking at how T Stamp Inc. gets its identity authentication and tokenization services into the hands of customers, and it's a mix of direct enterprise push and strategic platform integration. The channels are definitely evolving, especially with the new crypto push.

Direct Sales Team Targeting Large Enterprises and Government

The direct sales motion targets the biggest players, which is reflected in the revenue concentration. For the first nine months of 2025, T Stamp Inc. generated $2.23 million in net recognized revenue. A staggering 82% of that revenue came from just two sources: a single S&P 500 Bank (64%) and a related party, QID (18%). This highlights the importance of these direct, large-scale enterprise agreements for immediate financial results.

Partner Platforms, Notably FIS, for Reaching Financial Institutions

The partnership with FIS is a major distribution channel into the financial sector. As of the latest update in late 2025, T Stamp Inc. has onboarded 97 financial institutions with over $348 billion in assets specifically through the FIS channel. This has contributed significantly to the total Orchestration Layer (OL) customer base, which stands at 110 customers either fully implemented or currently implementing the platform. The success of this channel is showing in usage metrics; over the nine months ending September 30th, 2025, transaction starts for FIS-related institutions have increased 247%, and customer completion rates improved by over 30%.

Software Licensing Agreements for Product Distribution

Software licenses form one of the three primary revenue sources for T Stamp Inc., alongside professional services and recurring Software-as-a-Service (SaaS) revenue. The company projects its full fiscal year 2025 revenue from existing contracted customers to exceed $5.0 million, with one analyst forecast pointing toward $7MM for the year ending December 31, 2025. The most significant licensing agreement is with the S&P 500 Bank, which was extended through May 31, 2031, securing minimum gross revenue exceeding $12.7 million.

Orchestration Layer (OL) Platform for Customer Self-Service and Integration

The low-code Orchestration Layer platform acts as the central delivery mechanism for T Stamp Inc.'s AI-powered technologies. The growth in OL customers is a direct measure of channel effectiveness. The total number of customers either fully implemented or currently implementing the OL has reached 110 as of late 2025. This platform streamlines the implementation process, which is critical for scaling adoption across various sectors, including banking, government, and healthcare.

New Digital Channels for Crypto Products (TSI Wallet Wait List)

A new, significant digital channel is being established through the launch of the biometrically validated, quantum-secure TSI Wallet. This initiative was supported by a recent capital raise in excess of $10 million. The wait list for the TSI Wallet officially opened on October 24th, 2025, positioning the company to enter the $227 billion stablecoin market. End-user implementation for the wallet is targeted for January 1st, 2026. This channel aims to address the estimated 2.3 to 3.7 million Bitcoin believed to be permanently lost due to unrecoverable credentials.

Here's a quick look at the key channel metrics as of late 2025:

Channel Metric Category	Key Data Point	Value/Amount
FIS Partner Reach (Institutions)	Financial Institutions Onboarded via FIS	97
FIS Partner Reach (Assets)	Assets Under Management Represented	$348 billion
Orchestration Layer (OL) Reach	Total Customers Implementing OL	110
OL Performance (9M 2025)	Transaction Starts Increase (FIS)	247%
New Channel Funding	Capital Raised for TSI Wallet Initiative	> $10 million
New Channel Launch Date	TSI Wallet Wait List Opening	October 24th, 2025
Revenue Concentration (9M 2025)	% of Net Revenue from Top 2 Sources	82%

The company is clearly focused on driving volume through the OL, as evidenced by the 247% increase in transaction starts for FIS-related institutions over nine months in 2025. Still, the reliance on the S&P 500 Bank contract, which accounts for 64% of the nine-month net revenue, remains a concentration risk you must watch closely.

T Stamp Inc. (IDAI) - Canvas Business Model: Customer Segments

You're looking at the core groups T Stamp Inc. (IDAI) is selling its identity services to as of late 2025. Honestly, the customer base is heavily weighted right now, which is a key risk you need to watch.

Large Financial Institutions

This is the bread and butter, primarily through the FIS channel. As of the Q3 2025 filing, T Stamp Inc. (IDAI) had a total of 110 customers either fully implemented or currently implementing the Orchestration Layer (OL). Before that, they had reached 100 financial institutions on the OL. Digging into that 100 figure, you see that 94 of those customers are banks. These bank customers represent over $500B in combined assets and have headquarters in over 26 states, covering more than 1200 locations. Transaction starts for FIS-related institutions showed a massive increase of 247% over the nine months ending September 30th, 2025.

The customer segment breakdown looks something like this:

Metric	Data Point
Total OL Customers (as of Q3 2025 filing)	110
Total Financial Institution Customers (Milestone)	100
Banks within the 100 FI Customers	94
Combined Assets of the 94 Banks	Over $500B
FIS Onboarded Institutions (as of Q3 2025 filing)	97
Assets of FIS Onboarded Institutions	Over $348 billion

Highly Concentrated Enterprise Customers

Here's where you see the concentration risk. For the first nine months of 2025 (9M 2025), T Stamp Inc. (IDAI) reported net revenue of $2.23 million. A staggering 82% of that 9M 2025 revenue came from just two sources. This is a critical dependency. The two major contributors were:

• A single S&P 500 Bank, contributing 64% of the 9M 2025 revenue.
• A related party, QID, contributing 18% of the 9M 2025 revenue.

To give you a sense of the commitment from the largest client, the contract amendment with that S&P 500 bank extends the term until May 31, 2031, securing minimum gross revenue exceeding $12.7 million over the balance of the term. That's a lifeline, but it's concentrated. For context, in Q1 2025, the concentration was slightly lower at ~79.7%, with the S&P 500 bank at 63.6% and QID at 16.1%.

Government and Regulatory Compliance sectors

T Stamp Inc. (IDAI) explicitly targets the Government and Regulatory Compliance sectors with its AI-powered services. The company is also actively seeking confirmations from regulatory bodies, specifically mentioning the SEC and MiCAR (Markets in Crypto-Assets Regulation) for its new stablecoin offerings.

Cryptocurrency and Digital Asset platforms (emerging segment)

This is an emerging area of focus. T Stamp Inc. (IDAI) announced a component of its new Cryptocurrency and Asset Tokenization Initiative. Furthermore, news indicates the development of a 'Wallet of Wallets' and a solution called StableKeyTM, which is positioned as a turnkey defense against 'Wrench Attacks' common in the crypto space.

Humanitarian Services and Real Estate sectors

The company's technology is designed for use across several verticals beyond finance, which includes Humanitarian Services and Real Estate. This shows the platform's intended broad applicability for identity trust and fraud reduction.

Finance: draft 13-week cash view by Friday.

T Stamp Inc. (IDAI) - Canvas Business Model: Cost Structure

The cost structure for T Stamp Inc. (IDAI) is heavily weighted toward technology development and talent retention, which you see reflected in the operating expense breakdown across the fiscal year 2025 periods.

The company has actively managed its overhead, as evidenced by reductions in Selling, General, and Administrative (SG&A) expenses. This cost discipline is a near-term necessity given the ongoing investment cycle.

Here's a look at the key expense metrics from the first three quarters of 2025:

• SG&A costs fell by 28% year-over-year in Q1 2025, driven by workforce reductions and lower stock-based compensation.
• Total Operating Expenses for the three months ended June 30th, 2025, were $2.50 million, a 20% reduction year-over-year from $3.13 million in Q2 2024.
• The company has incurred costs associated with maintaining its Nasdaq listing, including executing a 1-for-15 reverse stock split effective January 6, 2025, to comply with Nasdaq Rule 5550(a)(2).

The high fixed costs inherent in developing and maintaining proprietary AI and identity technology definitely drive a significant portion of the overall spend, even when variable costs are controlled.

Cost Component/Period	Three Months Ended June 30, 2025 (Q2 2025)	Nine Months Ended September 30, 2025 (9M 2025)
Total Operating Expenses	$2.50 million	$7.85 million
Operating Loss	-$1,683,000 (Implied from Net Loss and other data)	$5,616,427
Operating Expenses (9M 2024 Comparison)	$3.13 million (Q2 2024)	$9.74 million (9M 2024)
Adjusted EBITDA Loss	-$1.230 million	N/A

Personnel expenses for specialized AI and engineering talent are a significant component of the overall operating structure, supporting the core technology development and product improvements, such as the Orchestration Layer 2.0 relaunch planned after Q1 2025.

The nine-month figures show the scale of cost management efforts against the backdrop of growth:

• Total Operating Expenses for the nine months ended September 30th, 2025, were $7.85 million, down from $9.74 million for the corresponding period in 2024, representing a 19% reduction.
• The Operating Loss for the nine months ended September 30, 2025, was $5,616,427, an improvement from $8,151,319 in the prior-year period.

Finance: draft 13-week cash view by Friday.

T Stamp Inc. (IDAI) - Canvas Business Model: Revenue Streams

You're looking at how T Stamp Inc. (IDAI) actually brings in money right now, late in 2025. It's not just one thing; it's a mix of services and product-adjacent fees, though one area is clearly leading the pack.

The core of the recognized revenue in the second quarter of 2025 came from service delivery. Honestly, this is where the immediate cash flow is generated.

Revenue Component	Q2 2025 Amount (USD)	Percentage of Q2 Recognized Revenue
Professional Services fees	$782,667	~96.3%
Software License Fees	$30,000	~3.7%
Total Recognized Revenue (Q2 2025)	$812,667	100%

The professional services component, which was $782,667 in Q2 2025, is explicitly called out as the primary driver of recognized revenue for that period. Software License Fees contributed a smaller $30,000 in the same quarter.

Beyond the recognized revenue, there are other important financial flows to track. You need to keep an eye on the deferred revenue bucket, which shows money earned but not yet recognized under ASC 606 accounting rules. For instance, an additional $0.29 million of revenue was received from QID services in Q2 2025 but was subject to deferred recognition.

The company has a clear strategic direction for future income, even if the numbers aren't fully realized yet. You should be tracking progress toward these goals:

• Recurring Software-as-a-Service (SaaS) revenue (strategic goal).
• Contracted revenue from existing customers, expected to exceed $5.0M for FY 2025.

Speaking of existing customers, the contract amendment with the S&P 500 bank customer is significant; it extends the term until May 31, 2031, with a minimum gross revenue commitment exceeding $12.7 million. That's a solid floor for future service revenue, even if it's not all recognized in the current fiscal year.

Finally, T Stamp Inc. (IDAI) has an equity stake in a key strategic partner. This isn't direct revenue, but it represents potential future financial upside. T Stamp Inc. holds a 10% ownership interest in the newly formed QID Technologies LLC. This structure was part of a January 2025 transaction where T Stamp also provided a non-exclusive license for a $1 million fee, receivable in three installments during Q1 2025.

Finance: review the Q3 2025 deferred revenue balance against the $5.0M FY 2025 contracted revenue target by next Tuesday.