T Stamp Inc. Files Q3 2024 10-Q Report

TL;DR

T Stamp Inc. Q3 2024 10-Q filed. Financials and ops details out.

AI Summary

T Stamp Inc. filed its 10-Q for the period ending September 30, 2024. The company, based in Atlanta, GA, operates in the pre-packaged software industry. Key financial data and operational details for the third quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for T Stamp Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter covered by the filing.)
• 2024-09-30 — Period End Date (The exact date the financial reporting period concluded.)
• 2024-11-15 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• T Stamp Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• Atlanta, GA (location) — Company's business address
• 7372 (number) — Standard Industrial Classification code for Services-Prepackaged Software

FAQ

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-20240930.htm (10-Q) — 1497KB
• idai-20240930xex311.htm (EX-31.1) — 8KB
• idai-20240930xex312.htm (EX-31.2) — 8KB
• idai-20240930xex321.htm (EX-32.1) — 5KB
• 0001718939-24-000202.txt ( ) — 8068KB
• idai-20240930.xsd (EX-101.SCH) — 77KB
• idai-20240930_cal.xml (EX-101.CAL) — 100KB
• idai-20240930_def.xml (EX-101.DEF) — 260KB
• idai-20240930_lab.xml (EX-101.LAB) — 704KB
• idai-20240930_pre.xml (EX-101.PRE) — 482KB
• idai-20240930_htm.xml (XML) — 1040KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended Sep tember 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 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 29 Item 3.

Quantitative and Qualitative Disclosures About Market Price

Quantitative and Qualitative Disclosures About Market Price 42 Item 4.

Controls and Procedures

Controls and Procedures 42 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 43 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 48 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 September 30, 2024 December 31, 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 598,031 $ 3,140,747 Accounts receivable, net (includes unbilled receivables of $ 4,463 and $ 143,219 as of September 30, 2024 and December 31, 2023, respectively) 375,732 686,327 Related party receivables 23,781 44,087 Prepaid expenses and other current assets 1,213,924 826,781 Total Current Assets 2,211,468 4,697,942 Capitalized internal-use software, net 1,532,357 1,472,374 Goodwill 1,248,664 1,248,664 Intangible assets, net 193,304 223,690 Property and equipment, net 39,825 56,436 Operating lease right-of-use assets 198,634 164,740 Investment 5,100,000 — Other assets 35,375 29,468 Total Assets $ 10,559,627 $ 7,893,314 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,107,276 $ 1,232,118 Related party payables 48,235 82,101 Accrued expenses 1,670,260 1,143,890 Deferred revenue 95,750 10,800 Income tax payable — 1,975 Loans payable 645,536 — Short-term operating lease liabilities 95,367 81,236 Short-term financial liabilities — 162,130 Total Current Liabilities 3,662,424 2,714,250 Warrant liabilities 250,694 256,536 Notes payable, including accrued interest of $ 45,383 and $ 40,317 , as of September 30, 2024 and December 31, 2023, respectively 1,007,213 953,877 Long-term operating lease liabilities 70,555 53,771 Total Liabilities 4,990,886 3,978,434 Commitments, Note 11 Stockholders' Equity: Common stock $ 0.01 par value, 50,000,000 shares authorized, 18,819,750 and 9,198,089 shares issued, and 18,819,750 and 9,143,355 outstanding at September 30, 2024 and December 31, 2023, respectively 188,198 91,434 Treasury stock, at cost: 0 and 54,734 shares held as of September 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 60,579,359 54,375,622 Accumulated other compre

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View this 10-Q filing on SEC EDGAR