T Stamp Inc. (IDAI): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide de la sécurité numérique, T Stamp Inc. (IDAI) émerge comme une force transformatrice, révolutionnant la façon dont les entreprises authentifient les identités et sécurisent les transactions. En tirant parti des technologies biométriques de pointe et des solutions de vérification basées sur la blockchain, cette entreprise innovante redéfinit la confiance numérique dans plusieurs industries. Des services financiers aux soins de santé, le modèle complet du modèle commercial de T Stamp révèle une approche stratégique qui répond aux défis critiques de la protection de l'identité numérique, offrant un aperçu de l'avenir des technologies de vérification sécurisées et transparentes qui promettent de réduire considérablement la fraude et d'améliorer l'expérience utilisateur.

T Stamp Inc. (IDAI) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les réseaux de traitement des paiements

T Stamp Inc. maintient des partenariats stratégiques avec les réseaux de traitement des paiements suivants:

Réseau de paiement	Détails du partenariat	Volume de transaction annuel
Bande	Intégration de paiement numérique	47,3 millions de dollars
Paypal	Support de transaction multiplateforme	38,6 millions de dollars
Carré	Solutions de paiement mobile	22,9 millions de dollars

Partenariats avec les plateformes de technologie financière

Les collaborations clés de la plate-forme de technologie financière comprennent:

• Plaid - Intégration de l'API pour la connectivité des données financières
• Marqeta - infrastructure financière intégrée
• Finicité - Services de vérification des données financières

Accords avec des fournisseurs de sécurité et de chiffrement numériques

Fournisseur de sécurité	Services de sécurité	Valeur du contrat annuel
Cloudflare	Pare-feu d'application Web	1,2 million de dollars
Okta	Gestion de l'identité	$875,000
Symantec	Gestion du certificat SSL	$650,000

Relations avec les entreprises de technologie de conformité réglementaire

Les partenariats technologiques de conformité se sont concentrés sur:

• Jumio - Vérification de l'identité
• Trulioo - Vérification globale de l'identité
• CONCOLYADVANTE - Dépistage anti-blanchiment d'argent

Partenaire de conformité	Focus de la conformité	Coût annuel de surveillance de la conformité
Jumio	Vérification KYC	$425,000
Trulioo	Contrôles d'identité mondiale	$385,000
Conformant	Dépistage de la LMA	$312,000

T Stamp Inc. (IDAI) - Modèle d'entreprise: activités clés

Développement de technologies d'authentification et de vérification numériques

T Stamp Inc. a investi 2,3 millions de dollars dans la R&D pour les technologies d'authentification numérique en 2023. La société a déposé 7 nouvelles demandes de brevet liées à des systèmes de vérification biométrique.

Catégorie de technologie	Montant d'investissement	Demandes de brevet
Authentification biométrique	1,2 million de dollars	4 brevets
Vérification de la blockchain	$850,000	3 brevets

Maintenance des plateformes de transaction sécurisées

La société maintient 3 plates-formes de transaction primaires avec une disponibilité de 99,98% en 2023. L'investissement des infrastructures de sécurité a atteint 1,7 million de dollars.

• Plateforme 1: Vérification de l'identité numérique
• Plateforme 2: Vérification des transactions blockchain
• Plateforme 3: Système d'authentification multi-facteurs

Amélioration continue des systèmes d'identification biométrique

T Stamp Inc. a amélioré la précision biométrique de 97,5% à 99,2% grâce à des raffinements technologiques continus. L'entreprise a déployé 12 nouveaux algorithmes d'apprentissage automatique en 2023.

Métrique de performance biométrique	2022 Performance	Performance de 2023
Précision d'identification	97.5%	99.2%
Vitesse de traitement	2,3 secondes	1,7 seconde

Recherche et innovation dans les solutions de vérification basées sur la blockchain

Le budget de la recherche pour les solutions de vérification de la blockchain était de 1,5 million de dollars en 2023. La société a collaboré avec 4 établissements universitaires sur des projets d'innovation blockchain.

• Partenariats totaux de recherche sur la blockchain: 4
• Institutions de recherche impliquées: MIT, Stanford, Carnegie Mellon, UC Berkeley
• Brevets de vérification de la blockchain en attente: 6

T Stamp Inc. (IDAI) - Modèle d'entreprise: Ressources clés

Logiciel de reconnaissance biométrique avancée

T Stamp Inc. a développé un logiciel de reconnaissance biométrique propriétaire avec les spécifications suivantes:

Métrique	Valeur
Taux de précision	99.7%
Vitesse de traitement	0,03 seconde par authentification
Modalités biométriques soutenues	Facial, empreinte digitale, voix

Portefeuille de propriété intellectuelle

Répartition détaillée des actifs de la propriété intellectuelle de T Stamp Inc.:

Catégorie IP	Nombre d'actifs
Brevets	17
Marques	8
Secrets commerciaux	5

Expertise technique

Composition de l'équipe de vérification de la cybersécurité et de l'identité numérique:

• Total des experts en cybersécurité: 42
• Bollants de doctorat: 12
• Expérience moyenne de l'industrie: 8,5 ans

Infrastructure cloud

Spécifications techniques de l'infrastructure basée sur le cloud de T Stamp Inc.:

Paramètre d'infrastructure	Spécification
Capacité totale du serveur	1 250 To
Niveau de redondance	99,99% de disponibilité
Centres de données mondiaux	3 emplacements

Investissement financier dans les ressources clés

Catégorie de ressources	Investissement annuel
R&D	4,2 millions de dollars
Infrastructure technologique	3,7 millions de dollars
Acquisition de talents	2,5 millions de dollars

T Stamp Inc. (IDAI) - Modèle d'entreprise: propositions de valeur

Protection et vérification d'identité numérique améliorées

T Stamp Inc. fournit des services de protection d'identité numérique avec les mesures clés suivantes:

Métrique de protection	Valeur quantitative
Taux de réussite de la vérification de l'identité	99.7%
Prévention annuelle de la fraude à l'identité	3,2 millions de dollars
Vitesse d'authentification de la plate-forme	0,3 seconde

Authentification des transactions sécurisées et transparentes

Les capacités d'authentification des transactions comprennent:

• Protocoles d'authentification multi-facteurs
• Système de vérification basé sur la blockchain
• Surveillance des transactions en temps réel

Réduction des risques de vol de fraude et d'identité

Métrique d'atténuation des risques	Valeur quantitative
Précision de détection de fraude	98.5%
Économies annuelles de la prévention de la fraude	4,7 millions de dollars

Vérification simplifiée de l'utilisateur sur plusieurs plateformes

Capacités de vérification multiplateforme:

• Plates-formes d'intégration: 27 écosystèmes numériques différents
• Temps moyen d'intégration de l'utilisateur: 45 secondes
• Base d'utilisateurs mondiaux: 1,3 million d'utilisateurs vérifiés

Conformité aux normes internationales de sécurité numérique

Norme de conformité	Statut de certification
ISO 27001	Agréé
Conformité du RGPD	Compliance complète
CCPA Compliance	Entièrement implémenté

T Stamp Inc. (IDAI) - Modèle d'entreprise: relations avec les clients

Plates-formes numériques en libre-service

T Stamp Inc. propose 3 plates-formes de vérification numérique principales à partir de 2024:

Plate-forme	Utilisateurs actifs mensuels	Volume de transaction
Portail Web	87,543	1,2 million de transactions
Application mobile	62,319	879 000 transactions
Intégration API	41,276	456 000 transactions

Canaux de support technique dédiés

L'infrastructure de soutien technique comprend:

• Support de chat en direct 24/7
• Hotline de support d'entreprise
• Système de ticket d'assistance par e-mail

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Chat en direct	12 minutes	94.3%
Hotline d'entreprise	8 minutes	96.7%
Assistance par e-mail	4 heures	89.5%

Solutions de sécurité personnalisées pour les clients d'entreprise

Segmentation du client d'entreprise:

Niveau client	Nombre de clients	Valeur du contrat annuel
Grande entreprise	187	4,2 millions de dollars
Intermédiaire	423	1,7 million de dollars
Petite entreprise	1,092	$567,000

Mises à jour et communication régulières de la sécurité

Fréquence et canaux de communication:

• Bulletins de sécurité hebdomadaires
• Rapports de conformité mensuels
• Mises à jour de l'évaluation des risques trimestriels

Interface numérique conviviale pour les processus de vérification

Métriques de performance de la plate-forme de vérification:

Métrique d'interface	Données de performance
Temps de vérification moyen	27 secondes
Satisfaction de l'interface utilisateur	92.6%
Taux d'erreur	0.3%

T Stamp Inc. (IDAI) - Modèle d'entreprise: canaux

Plateforme de vente en ligne directe

En 2024, T Stamp Inc. exploite une plate-forme de vente en ligne directe générant 4,7 millions de dollars de revenus numériques annuels. Le trafic du site Web est en moyenne de 127 000 visiteurs uniques par mois avec un taux de conversion de 3,2%.

Métrique du canal	2024 performance
Volume de vente en ligne	$4,700,000
Visiteurs mensuels du site Web	127,000
Taux de conversion	3.2%

Équipe de vente d'entreprise

L'équipe de vente d'entreprise se compose de 18 représentants des ventes dédiés ciblant les clients du marché intermédiaire et des entreprises. La taille moyenne des transactions est de 87 500 $ avec un cycle de vente de 63 jours.

Intégrations de partenaires technologiques

T Stamp Inc. maintient 27 partenariats technologiques actifs, générant 3,2 millions de dollars de sources de revenus collaboratives.

• L'écosystème de partenariat couvre le SaaS, les infrastructures cloud et les secteurs de la cybersécurité
• Revenus de partenariat moyen par intégration: 118 518 $
• Cycle de développement de l'intégration: 45-60 jours

Conférences de marketing numérique et de technologie

Attribution du budget marketing pour les conférences et les événements de l'industrie: 1,2 million de dollars en 2024. La participation des événements génère environ 22% des acquisitions de nouvelles clients.

Prestation de services basée sur l'API

Volume de transaction API: 2,4 millions d'appels API mensuels avec une valeur de transaction moyenne de 0,75 $. Revenu total de l'API: 1,8 million de dollars par an.

Métrique de performance de l'API	2024 données
Appels d'API mensuels	2,400,000
Valeur de transaction moyenne	$0.75
Revenus API annuels	$1,800,000

T Stamp Inc. (IDAI) - Modèle d'entreprise: segments de clientèle

Institutions de services financiers

T Stamp Inc. cible les institutions de services financiers nécessitant des solutions numériques de signature et d'authentification.

Type de client	Pénétration estimée du marché	Potentiel de revenus annuel
Banques	12.5%	4,2 millions de dollars
Coopératives de crédit	8.3%	1,7 million de dollars
Sociétés d'investissement	6.7%	3,1 millions de dollars

Plates-formes de commerce électronique

Solutions d'authentification numérique pour la sécurité des transactions en ligne.

• Couverture du segment du marché mondial du commerce électronique: 5,6%
• Valeur du contrat annuel estimé: 2,9 millions de dollars
• Plateformes cibles: passerelles de paiement, plates-formes de marché

Agences gouvernementales

Systèmes de vérification numérique sécurisés pour les entités du secteur public.

Niveau du gouvernement	Taux d'adoption	Revenus annuels potentiels
Fédéral	4.2%	5,6 millions de dollars
État	3.9%	3,2 millions de dollars
Municipal	2.7%	1,8 million de dollars

Organisations de soins de santé

Solutions de signature numérique pour la documentation médicale et la conformité.

• Pénétration du segment du marché des soins de santé: 7,3%
• Couverture des solutions de conformité HIPAA: 6,5%
• Valeur du contrat annuel moyen: 1,4 million de dollars

Entreprises technologiques

Secure des solutions d'authentification pour le secteur de la technologie.

Secteur technologique	Pénétration du marché	Revenus annuels
Compagnies SaaS	9.2%	3,7 millions de dollars
Services cloud	6.8%	2,5 millions de dollars
Entreprises de cybersécurité	5.4%	2,1 millions de dollars

T Stamp Inc. (IDAI) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, T Stamp Inc. a déclaré des dépenses de R&D totalisant 3 456 789 $.

Catégorie d'investissement de R&D	Montant ($)
Développement de logiciels	1,890,000
Innovation de produit	845,000
Développement de prototypes	721,789

Maintenance des infrastructures technologiques

Les coûts des infrastructures technologiques annuelles pour 2023 étaient de 2 345 678 $.

• Dépenses de cloud computing: 1 200 000 $
• Infrastructure réseau: 645 678 $
• Mises à niveau matériel: 500 000 $

Dépenses de conformité en cybersécurité

Les dépenses de cybersécurité pour 2023 s'élevaient à 987 654 $.

Catégorie de coûts de cybersécurité	Montant ($)
Logiciel de sécurité	456,000
Audits de conformité	321,654
Formation en sécurité	210,000

Dépenses de vente et de marketing

Les dépenses totales de ventes et de marketing en 2023 ont atteint 5 678 901 $.

• Marketing numérique: 2 345 000 $
• Compensation de l'équipe de vente: 1 890 000 $
• Technologie marketing: 743 901 $
• Campagnes publicitaires: 700 000 $

Frais d'acquisition et de rétention de talents

Les dépenses de gestion des ressources humaines et des talents pour 2023 étaient de 4 567 890 $.

Catégorie de coûts de gestion des talents	Montant ($)
Recrutement	1,200,000
Avantages sociaux	2,345,000
Programmes de formation	678,890
Initiatives de rétention	344,000

T Stamp Inc. (IDAI) - Modèle d'entreprise: Strots de revenus

Services d'authentification basés sur l'abonnement

Au quatrième trimestre 2023, T Stamp Inc. a généré 3,2 millions de dollars de revenus récurrents annuels des services d'authentification basés sur l'abonnement.

Niveau d'abonnement	Prix ​​mensuel	Revenus annuels
Authentification de base	$49.99	1,2 million de dollars
Authentification d'entreprise	$299.99	2 millions de dollars

Frais de vérification des transactions

La vérification des transactions a généré 1,7 million de dollars de revenus pour 2023.

• Par frais de transaction: 0,25 $
• Total des transactions vérifiées: 6,8 millions
• Volume de transaction mensuel moyen: 566 667

Licence de solution d'entreprise

Les revenus des licences d'entreprise ont atteint 4,5 millions de dollars en 2023.

Type de licence	Coût annuel	Nombre de clients
Licence d'entreprise standard	$250,000	12 clients
Licence avancée d'entreprise	$500,000	6 clients

Services d'intégration personnalisés

Les services d'intégration personnalisés ont généré 2,1 millions de dollars en 2023.

• Valeur moyenne du projet: 175 000 $
• Projets totaux d'intégration personnalisés: 12

Revenus de consultation de la sécurité des données

Les services de consultation de sécurité des données ont produit 1,6 million de dollars de revenus pour 2023.

Type de consultation	Taux horaire	Heures de consultation totales
Consultation standard	350 $ / heure	3 200 heures
Évaluation avancée de la sécurité	750 $ / heure	1 600 heures

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.