Business
Trust Stamp announces record revenue for both Q4 and full-year 2021 with Trust Stamp’s momentum continuing into 2022
ATLANTA, April 12, 2022 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), the Privacy-First Identity Company™ providing AI-powered
About this update from T Stamp Inc.
[{"type":"text","content":"ATLANTA, April 12, 2022 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), the Privacy-First Identity Company™ providing AI-powered trust and identity services used globally across multiple sectors, provides a business update and commentary on reported financial results for the three and twelve month periods ended 31 December 2021 (“Q4 2021” and “Full Year 2021”, respectively). Fourth Quarter and Full Year 2021 Financial Highlights Net Sales were $3.7M in Full Year 2021, a 38.9% increase year-over-yearNet Sales were $2.1M in Q4 2021, a 69.7% increase year-over-yearGross Profit was $2.5M, a 124.0% increase year-over-yearGross Profit Margin for Full Year 2021 was 68.7% compared to 42.59% for Full Year 2020Operating Margin improved in Q4 2021 to -93.83% compared to -241.74% for Full Year 2021Net Profit Margin was -96.55% in Q4 2021 compared to -246.31% in Full Year 2021Net Loss decreased by 15.22% year-over-year, improving Diluted Net Loss per Share to $(0.46) in 2021 from $(0.90) in 2020Total Financing closed came to $9.8M from offerings commenced in 2021Total Assets were $8.7M at year end 2021, a 80.0% increase from $3.9M at year end 2020 2021 Operational Highlights Initial government contract award of $3.92M with the U.S. Department of Homeland Security in September 2021, subsequently increased to $7.17M in March 2022Intellectual property portfolio growth with three new issued patents and 11 new pending patents produced in Full Year 2021Headcount grew to 94 full-time team members at year end 2021 from 57 at year end 2021Wholly-owned subsidiaries established, with Trust Stamp Rwanda Limited focused on R&D, and Metapresence Limited focused on crypto-asset services Gareth Genner, Chief Executive Officer, comments: “I am pleased to report strong financial performance in 2021, with notable growth in the fourth quarter reflecting the momentum which has continued into another record period in Q1 of 2022. Our go-to-market traction, successful financing activities, and investment in intellectual property and scalable infrastructure position us to drive consistent growth and meaningful value for shareholders throughout 2022 and beyond. Our ongoing investment into building out our internal capabilities and developing our innovative IP portfolio to address evolving needs for privacy, security, and accessibility in dig...