Atlanta, GA, March 31, 2026 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) provided a business update for Q1 of 2026.

Gareth N. Genner, Chief Executive Officer of the Company commented, “In 2025 we reduced and optimized expenditure, focusing our resources on projects that we believed to be best positioned to generate meaningful revenue in 2026 and 2027. Based on that strategy, we have seen significant revenue-focused progress on multiple fronts in Q1:

1. In January we received a Purchase Order for the use of our Irreversibly Transformed Identity Token (“IT^2”) from a telecommunications company situated across a dozen African and Middle Eastern markets and serving hundreds of millions of subscribers. The initial purchase order is for the use of the IT² in a single (large) market but based upon customer meetings and other communications, we anticipate both the geographic scope and product range expanding in 2026. This new customer is projected to generate seven-figure ARR and serve as a flagship in the telecoms industry.
2. We have entered into our first revenue generating contract in Japan with Digital Platformer, an IT consulting and digital transformation company focused on helping enterprises modernize systems, adopt cloud infrastructure, and build scalable digital platforms. We have also completed a successful proof of concept with INTEC, a Japanese technology and certification-focused company best known for its work in government and highly regulated markets providing digital identity, public key infrastructure (PKI), and secure authentication systems. These two engagements represent important steps in our carefully executed entry into the Japanese market.
3. Our US workforce management partner has notified us that our security guard authentication technology is scheduled to roll out in fifty locations in Q2.  This is our first sale in the workforce management sector but we anticipate significant growth potential once the initial roll out is complete. 
4. We entered into an agreement with IDirect, a 25-year staple of the US security industry, protecting everything from nightclubs to federal agencies, to provide them with SaaS authentication services based upon our contracted access to the AAMVA DLDV Service. IDetect is projecting that their use of our authentication service will run into millions of monthly transactions at full capacity. Based on IDirect projections, this has potential to develop into a seven-figure ARR engagement.
5. We have long recognized the potential healthcare use cases for our identity authentication and privacy protection technologies particularly in connection with the fast-growing telemedicine service sector. We currently have a successful revenue-generating implementation with an EU/MENA company to authenticate healthcare professionals, together with an in principle agreement to deploy the technology for an international pharmacy and primary care group (also in the EU/MENA), and discussions with a well-established hospital chain. We anticipate continued scaling of our technology in the healthcare vertical over the balance of the year and thereafter.
6. At the invitation of the Federal government (and a number of regional governments) in Nigeria, we undertook a two week visit in February to identify potential uses for our technology in various departments with a focus on the government's target of developing a US $1T digital economy. The numerous in-person meetings led to well-publicised government statements as to their identified areas of interest and we are now progressing the opportunities with multiple agencies. We are targeting a first government engagement in Nigeria commencing in 2026.
7. Following nomination by the Republic of Malta and selection by the program administrators as a Direct Participant / Core Beneficiary, we are participating in the European Union’s IPCEI program focused on large-scale, cross-border projects supporting advanced semiconductor technologies that can contribute significantly to the growth, jobs, and competitiveness of the European Union. Selection is highly competitive and successful projects can benefit from significant public-sector funding and private-sector partnerships. This opportunity builds on our work in Denmark with Scurid for on-edge deployment in IoT environments and our African deployment for SIM card authentication, by enabling semiconductors to be biometrically bound to the authorized user using our IT² technology.
8. As of today, a total of 100 financial institutions with over $350 billion in assets have been onboarded via FIS, bringing the total number of customers either fully implemented or currently implementing the Orchestration Layer to 114. Each financial institution enrolled via FIS has paid an onboarding fee. However, as I have previously reflected, although 2025 saw significant growth in both transaction starts and completions, the pace of implementation (and hence revenue) is substantially slower than we anticipated.  We are addressing this with a number of customer-facing initiatives and will be closely monitoring and reporting on progress.
9. We have continued feature development for our Wallet of Wallets (WoW^TM) while waiting for a resolution to the Clarity Act debate regarding the potential payment of interest or other returns for stablecoin investments. We believe that the WoW wallet delivers multiple unique value propositions regardless of that decision. In January 2026, our Director of Innovation relocated to the Lake Geneva region in Switzerland to participate in the prestigious Trust Valley program and identify opportunities for our StableKey^TM technology and the WoW wallet. We aim to bring the WoW wallet to market as soon as practicable after legislative certainty allows final ensign refinements.
10. While discussions regarding potential US Federal use of the Tap-In-Band^TM are stalled by the current lack of an appropriations bill for the US Department of Homeland Security, we are in parallel progressing opportunities for potential use cases outside the United States.
11. We completed the acquisition of lexverify.com bringing us additional expertise in LLM training and deployment together with talented team members and a mature pipeline of engaged prospects that are anticipated to generate revenue within the next 12-months. Lexverify currently provides next-generation, AI-automated compliance using LLM powered technology.  LLM implementations are accelerating exponentially across every industry, but there is typically little to no control over the data that is being shared with the LLM from the triple perspectives of intellectual property preservation, personal privacy/data protection and the potential for model poisoning. To address these very severe risks we will be building on Lexverify’s existing intellectual property and experience with an initial focus on custom LLM implementations for regulated financial services entities.
12. We acquired a 50% ownership interest in thecyberfish.com providing us with immediate access to sophisticated cyber resilience simulations and training and cross-selling opportunities. The proprietary Cyberfish Dojo^TM platform that Cyberfish has developed over the last eight years provides immersive scenarios based on real cyber threats. Teams face authentic technical challenges, time pressures, and decision complexities that mirror actual incident conditions. The efficiency of simulation generation and exercise management has already been enhanced by the implementation of AI technology and we plan to increase the number and range of simulations offered over the coming months as well as launching Cyberfish in additional geographic markets.
13. We appointed market-facing Senior Advisors in Ghana, Nigeria, Kenya, UK and Malta. Each of the relationships is structured with revenue-based compensation aiming at seven-figure ARR, and we are already seeing significant business opportunities resulting from the engagements that have been initiated. We will continue with this market-expansion strategy as it allows us to engage high-profile representatives in key markets while severely limiting pre-revenue costs.
14. Our IP-Moat has once again been extended:
    1. Patent number 18/145,470 for “Systems and Processes for Multifactor Authentication Identification” was issued;
    2. Patent application number 18/828,671 for “Multi-Factor Authentication using Tamper-Resistent Band and Biometric Data” received a notice of allowance and will issue in Q2;
    3. Patent application number 19/268,664 entitled: “Systems, Methods, and Protocols for Zero Knowledge Proof User Authentication” was published;
    4. A new patent application number 19/434,528 was filed with a no-publication request to protect additional innovations in multifactor authentication;
    5. Our trademark application number 99/098,939 for “Stable Biometrics” was approved and will be utilized in connection with our StableKey^TM technology; and
    6. We filed trademark application number #99630298 for “WOW” for use for the consumer version of our stablecoin focused Wallet of Wallet.”

Gareth Genner finally commented, “While the IT² and our other Privacy Enhancing Technologies continue to be an important focus for our commercial engagements, our capabilities now encompass every aspect of digital trust related to people, assets and systems and constitute foundational architecture as a trust-assured control plane. We have in place intellectual property, productized technology, team members, partnerships and channel relationships that position us strongly in multiple geographic markets and across multiple verticals. While no enterprise is immune to adverse macro-economic influences, we believe that the diverse markets that we serve, the growth in digital-economy transactions and a heightened global awareness of security and privacy concerns will drive demand for our technology and services throughout the balance of this year and beyond.”

Inquiries:

Trust Stamp                                                   Email: Shareholders@truststamp.ai

About Trust Stamp

Trust Stamp is a global provider of AI-powered services for use in multiple sectors including banking and finance, regulatory compliance, government, healthcare, real estate, communications, and humanitarian services. Its technology empowers organizations via advanced solutions that reduce fraud, tokenize and secure data, securely authenticate users while protecting personal privacy, reduce friction in digital transactions, and increase operational efficiency, enabling customers to accelerate secure financial inclusion and reach and serve a broader base of users worldwide.

With team members from twenty-two nationalities in eight countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI).

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