T Stamp Inc. Files 10-Q for Q1 2024

TL;DR

<b>T Stamp Inc. has filed its Q1 2024 10-Q report, detailing its financial performance and corporate information.</b>

AI Summary

T Stamp Inc (IDAI) filed a Quarterly Report (10-Q) with the SEC on May 16, 2024. T Stamp Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. T Stamp Inc. is incorporated in Delaware. The company's principal business address is in Atlanta, GA.

Why It Matters

For investors and stakeholders tracking T Stamp Inc, this filing contains several important signals. This filing provides investors with the latest financial data for T Stamp Inc., crucial for assessing its performance and making investment decisions. Understanding the details within this 10-Q is essential for tracking the company's progress in the pre-packaged software industry.

Risk Assessment

Risk Level: low — T Stamp Inc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new financial data or material events that would indicate a change in risk profile.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand T Stamp Inc.'s operational performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly Report)
• 2024-05-16 — Filed As Of Date (SEC Filing Date)
• 1231 — Fiscal Year End (Annual Fiscal Year)
• 7372 — Standard Industrial Classification (SIC Code for Pre-packaged Software)

Key Players & Entities

• T Stamp Inc. (company) — Filer
• IDAI (company) — Ticker Symbol
• 2024-03-31 (date) — Period of Report
• 2024-05-16 (date) — Filed As Of Date
• 3423 PIEDMONT ROAD (address) — Business Address Street 1
• ATLANTA (location) — Business Address City
• GA (location) — Business Address State
• 30305 (postal_code) — Business Address Zip

FAQ

Industry Context

T Stamp Inc. operates in the pre-packaged software industry, providing services related to software solutions.

Regulatory Implications

The filing adheres to SEC regulations for quarterly reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for operational insights.
3. Check for any new risk factors or legal proceedings disclosed in the report.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-16: Filing Date — Date the 10-Q was officially filed with the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

SIC Code

Standard Industrial Classification code used to classify businesses by industry. (Helps categorize T Stamp Inc. within the 'Services-Prepackaged Software' industry.)

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing updated financial information compared to the previous fiscal year's filings.

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value per share IDAI The NASDAQ Sto
• $250,000 — al Deposit Insurance Corporation covers $250,000 for substantially all depository accoun

Filing Documents

• idai-20240331.htm (10-Q) — 1042KB
• idai-20240331xex311.htm (EX-31.1) — 8KB
• idai-20240331xex312.htm (EX-31.2) — 8KB
• idai-20240331xex321.htm (EX-32.2) — 5KB
• 0001718939-24-000085.txt (&nbsp;) — 6576KB
• idai-20240331.xsd (EX-101.SCH) — 68KB
• idai-20240331_cal.xml (EX-101.CAL) — 91KB
• idai-20240331_def.xml (EX-101.DEF) — 238KB
• idai-20240331_lab.xml (EX-101.LAB) — 647KB
• idai-20240331_pre.xml (EX-101.PRE) — 446KB
• idai-20240331_htm.xml (XML) — 761KB

Financial Statements

Financial Statements F- 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 F- 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (Unaudited) F- 4 Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 2023 (Unaudited) F- 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 (Unaudited) F- 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (Unaudited) F- 7 Notes to Condensed Consolidated Financial Statements (Unaudited) F- 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Price

Quantitative and Qualitative Disclosures About Market Price 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 38

Signatures

Signatures 41 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. T STAMP INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 816,692 $ 3,140,747 Accounts receivable, net (includes unbilled receivables of $ 14,208 and $ 143,219 as of March 31, 2024 and December 31, 2023, respectively) 643,479 686,327 Related party receivables 16,083 44,087 Deferred financing cost 50,000 — Prepaid expenses and other current assets 896,026 826,781 Total Current Assets 2,422,280 4,697,942 Capitalized internal-use software, net 1,476,193 1,472,374 Goodwill 1,248,664 1,248,664 Intangible assets, net 196,044 223,690 Property and equipment, net 47,694 56,436 Operating lease right-of-use assets 184,642 164,740 Other assets 36,559 29,468 Total Assets $ 5,612,076 $ 7,893,314 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,063,330 $ 1,232,118 Related party payables 96,066 82,101 Accrued expenses 1,284,578 1,143,890 Deferred revenue 268,250 10,800 Income tax payable 1,975 1,975 Short-term operating lease liabilities 69,727 81,236 Short-term financial liabilities — 162,130 Total Current Liabilities 2,783,926 2,714,250 Warrant liabilities 254,076 256,536 Notes payable, including accrued interest of $ 14,511 and $ 40,317 , as of March 31, 2024 and December 31, 2023, respectively 946,395 953,877 Long-term operating lease liabilities 84,288 53,771 Total Liabilities 4,068,685 3,978,434 Commitments, Note 10 Stockholders' Equity: Common stock $ 0.01 par value, 50,000,000 shares authorized, 10,099,672 and 9,198,089 shares issued, and 10,099,672 and 9,143,355 outstanding at March 31, 2024 and December 31, 2023, respectively 100,997 91,434 Treasury stock, at cost: 0 and 54,734 shares held as of March 31, 2024 and December 31, 2023, respectively — — Additional paid-in capital 54,641,448 54,375,622 Accumulated other comprehensive income 171,361 139,670 Ac

View Full Filing

View this 10-Q filing on SEC EDGAR