The $100M S-3 shelf filed 20 days before this earnings report is the dominant risk — at $11M market cap, any takedown would be massively dilutive. Revenue growth is real but from a tiny base, and the company burned ~$2.2M in operating cash in Q1. Monitor for a prospectus supplement indicating an at-the-market offering; the stock is likely to trade down on the dilution overhang regardless of the revenue beat.
Price Chart
Executive Summary
T Stamp reported Q1 2026 net recognized revenue of $757K (+39% YoY) but comprehensive loss widened to $2.23M. The EPS of -$0.42 is not directly comparable to consensus estimates from the prior quarter. A $100M S-3 shelf filed 20 days ago overhangs the stock, and the company remains deeply unprofitable with a $11M market cap.
Key Financial Metrics
Key Facts
- Net recognized revenue $757K for Q1 2026, up 39% from $545K YoY, driven by a $236K S&P 500 bank contract amendment
- Comprehensive loss $2.23M vs $2.16M YoY (3.4% wider loss)
- Basic and diluted net loss per share -$0.42 vs -$0.89 YoY (improvement due to share count changes, not profitability)
- Total operating expenses $3.03M vs $2.71M YoY, including one-time Lexverify acquisition costs and WoW development
- Cash and cash equivalents $3.89M; total current assets $5.34M
- $100M S-3 shelf registration filed April 24, 2026 (20 days prior) creates severe dilution overhang relative to $11M market cap
- Revenue did not include services delivered to two new major clients in Q1 — billable revenue expected in Q2 and beyond
Financial Impact
Revenue $757K vs $1.0M consensus (not directly comparable — consensus was for Q4 2025); EPS -$0.42 vs -$0.33 consensus (not comparable period). The $100M shelf dwarfs the $11M market cap.
Risk Factors
- Massive dilution risk from $100M S-3 shelf relative to $11M market cap
- Cash burn rate of ~$2.2M/quarter implies runway of ~5 quarters at current cash of $3.89M
- Revenue concentration on S&P 500 bank customer ($236K of $757K from one contract amendment)
- WoW product launch contingent on stablecoin legislative clarity — uncertain timing
- Nasdaq continued listing standards risk given low market cap and losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001718939-26-000030 |
| Document: a1q2026pressreleaseex-991i.htm | 0001718939-26-000030 |
| Document: 0001718939-26-000030-index-headers.html | 0001718939-26-000030 |
| Document: 0001718939-26-000030-index.html | 0001718939-26-000030 |
| Document: 0001718939-26-000030.txt | 0001718939-26-000030 |
| 8-K Data (Synthetic) | 0001718939-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $2.78 | awaiting T+1 | — | $2.41 (−13.31%) |
Oct 9, 2026 17d ago | 8-K | $3.02 $2.92 | ▲ +3.48% | ▲ +3.47% | $2.41 (+20.20%) |
Oct 9, 2026 17d ago | 424B5 | $3.02 $2.92 | ▲ +3.48% | ▲ +3.47% | $2.41 (+20.20%) |
Aug 13, 2026 10w ago | Press Release | $2.49 $2.44 | ▲ +2.01% | ▲ +1.81% | $2.41 (+3.21%) |
Jul 23, 2026 13w ago | 8-K | $2.07 $1.90 | ▼ −8.21% | ▼ −8.31% | $2.41 (+16.43%) |
May 14, 2026 23w ago | 8-K | $2.14 $2.07 | ▲ +3.27% | ▲ +3.21% | $2.41 (−12.62%) |
Mar 31, 2026 29w ago | 8-K | $2.57 $2.45 | ▲ +4.63% | ▲ +4.71% | $2.41 (+6.23%) |
Mar 10, 2026 33w ago | Press Release | $2.51 $2.50 | ▼ −0.40% | ▼ −0.29% | $2.41 (−3.98%) |
Mar 5, 2026 33w ago | 8-K | $2.66 $2.60 | ▼ −2.26% | ▼ −3.10% | $2.41 (−9.40%) |
US Market Status
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