IDAI - Trust Stamp (NASDAQ: IDAI) Reports Q3 Results: Net Revenues Up Net Loss Narrowed To $35000 | Benzinga

As the digital landscape continues to evolve, there is an increased interest from consumers and agencies alike on how to maintain privacy and data protection so that users’ personal information is safeguarded at all times. AI has become a powerful tool that has the potential to increase security when used wisely and increase opportunities for hackers when used poorly. 

Among companies leveraging AI, Trust Stamp (NASDAQ: IDAI) is one that seems to stand out in its field as the company looks to revolutionize digital security. Trust Stamp is a global provider of AI-powered, privacy-first trust and identity services used across multiple sectors – such as banking and finance, real estate, communications, regulatory compliance and government. Trust Stamp offers a range of innovative services. The company reports that its biometric capture and analysis technology enables secure and convenient identity verification, allowing businesses to streamline onboarding processes. By integrating advanced document verification, Trust Stamp helps verify the authenticity of important documents, reducing the risk of fraud.

Trust Stamp recently released its Q3 financial performance overview. The company reported growth in its net revenue during the third quarter of 2023 – net revenue increased to $3.07 million, marking growth of 127.35% compared to the net revenue of $1.35 million for the same period in 2022.

The $3.07 million in net revenue for Q3 2023 was derived from various sources. The majority of this increase was due to the termination of the Master Services Agreement with IGS ("IGS Contract") on September 15, 2022. This termination not only resulted in $2.51 million in net revenue for Q3 2023 but also relieved ...

IDAI) Reports Q3 Results: Net Revenues Up, Net Loss Narrowed To $35,000>Full story available on Benzinga.com