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T Stamp

IDAI
22
Software - Application · Technology
Price
$2.06
-0.02 (-0.96%)
Market Cap
$4.8M
Exchange
NASDAQ Capital Market
Winston Score
22
Winston is worried
Weak fundamentals across most pillars.

Share count rising — dilution

+1139.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 251K (2021) → 3.1M (2025)

T Stamp Inc. is a small technology company that builds identity verification and fraud prevention software. Its core products use artificial intelligence to verify that a person is who they claim to be — for example, by analyzing a photo ID or a selfie. Its main customers are financial institutions, governments, and other organizations that need to confirm people's identities before granting access to services.

The company earns revenue by licensing its software and charging fees for identity verification transactions. T Stamp operates primarily in the United States but has pursued contracts in international markets, including parts of Africa and the Caribbean. With a market cap near zero and an operating margin deeply negative, the company is burning cash and has not yet reached profitability. Its key growth opportunity lies in expanding government and financial sector contracts, but its main risk is running out of funding before it can scale revenue enough to cover its costs.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+38.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+63.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$2M/ year

Flat (+2% vs prior year)

69.2% of revenue

4.6x the sector average (15%)

Steady R&D investment year-over-year

Insider Activity

11.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 months

$5M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Revenue accelerating

T Stamp grew revenue 39% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
24.2%
Thin — 24.2% gross margin
Operating Margin
-299.8%
Losing money on operations — -299.8%
ROCE
-27.3%
Weak — -27.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+9.7%
Steady sales growth (9.7% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-211.6%
Burning cash (-211.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.16
Conservative — low debt load (0.16)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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