ATLANTA, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) ('Trust Stamp' or 'The Company') announced that:

   1. Net recognised revenue for the six months ended June 30, 2026 was $1.66 
      million, an increase of 22% from $1.36 million for the corresponding 
      period in 2025 primarily attributable to increased revenue from the 
      Company's S&P 500 bank customer and $192 thousand billed in Q2 for work 
      with a multinational telecommunications corporation operating in Africa 
      ("the Telecom"). The Company believes its engagement with the Telecom has 
      strong potential for generating increased revenues, which subsequent to 
      June 30 has included an additional $800 thousand of work product 
      delivered to the Telecom, bringing total billed and billable work for the 
      Telecom to $992 thousand. 
 
   2. The Company is in negotiations with a second African telecoms company and 
      views the African telecommunications market as a strategic growth 
      opportunity, given the regulatory emphasis on subscriber identity 
      assurance. In parallel, negotiations on three government related 
      contracts in Ghana continue to progress and are expected to result in one 
      or more definitive agreements during FY 2026. 
 
   3. The Company also identified a sales pipeline of potential governmental 
      and private sector customers of $42.40 million for 2026 and 2027 
      combined. When discounting based on the likelihood of contracting, the 
      Company believes the sales pipeline may generate an estimated revenue 
      pipeline of $9.48 million, which does not include revenue from new 
      engagements and initiatives that are not yet capable of accurate 
      projection. 
 
   4. Total Operating Expenses were $6.32 million for the six months ended June 
      30, 2026, compared to $5.20 million for the corresponding period in 2025, 
      for an increase of $1.12 million, including $1.42 million of non-cash 
      expenses (an increase in non-cash expenses of $654k compared to the 
      corresponding period in 2025). Operating Expenses included up-front costs 
      related to the engagement with the Telecom which are expected to yield 
      long-term usage-based-revenue. The increase also includes one-time 
      acquisition expenses related to Lexverify, internal and external 
      development expenses related to the Wallet of Wallets (WoW(TM)), $250 
      thousand in one-time expenses related to the financing completed in Q2, 
      increases in depreciation and timing differences in recognition of RSU 
      expenses, as well as increased cost of sales in tandem with the increase 
      in both recognized and unbilled revenue. 
 
   5. Net Loss for the six months ended June 30, 2026 based on recognized 
      revenue was $4.93 million compared to $3.87 million for the six months 
      ended June 30, 2025 representing a 27.29% increase year on year. For the 
      purpose of clarifying cash utilization, the Company flagged that the net 
      loss included $1.42 million of non-cash expenses resulting in a cash burn 
      from operations of $3.51 million including one-time expenses. Basic and 
      diluted net loss per share were $0.90 per share for the six months ended 
      June 30, 2026, compared to $1.57 per share for the corresponding period 
      in 2025. 
 
   6. Cash and Cash Equivalents as of June 30, 2026 were $6.31 million which, 
      with receivables and prepaid expenses, resulted in Total Current Assets 
      of $8.14 million. 
 
   7. The Company also highlighted two significant strategic initiatives: 
 
          1. Trust Stamp Malta Limited, has been selected as a direct 
             participant in the Important Project of Common European Interest 
             on Advanced Semiconductor Technologies (IPCEI AST), with the 
             support of Malta Enterprise.The IPCEI-AST is a major, coordinated 
             European initiative backed by participating EU Member States and 
             their national authorities, with the objective of strengthening 
             Europe's sovereignty, security and resilience across the advanced 
             semiconductor value chain. Bringing together industry and research 
             participants from across the EU, it is designed to accelerate the 
             development and first industrial deployment of next-generation 
             chip technologies. IPCEI is one of the EU's principal instruments 
             for funding strategic technologies; its predecessor in 
             microelectronics, IPCEI ME/CT, mobilised up to EUR8.1 billion in 
             public funding across fourteen Member States. The overall funding 
             envelope for the Advanced Semiconductor Technologies wave is still 
             being finalised.Trust Stamp's selection positions its 
             privacy-first identity technology within this strategic effort by 
             binding the identity of a device to a verified human identity, so 
             that critical hardware can be trusted to operate only in 
             authorised hands. This work will build on Trust Stamp's patented 
             approach to irreversible biometric tokenization, which protects 
             personal data while enabling strong, privacy-preserving 
             authentication. Trust Stamp's participation is anchored by two 
             cooperation agreements planned to run over the project period 
             (2027 - 2032), subject to formal approval:-- A secure 
             semiconductor identity platform: a collaboration to design a 
             platform that links device identity to a verified human identity, 
             combining hardware-rooted security (including memristor-based 
             physically unclonable functions) with Trust Stamp's biometric 
             tokenization to help prevent the unauthorised use of critical 
             devices across communications, IoT and safety-critical systems.-- 
             AI-supported processing of neural signals: a collaboration 
             exploring the AI-assisted processing and analysis of neural-signal 
             data generated by an emerging biosignal-chip platform, paired with 
             secure device authentication to protect highly sensitive data at 
             the hardware level. 
 
          2. The Company believes that its initiative to provide the 
             development and deployment of Sovereign-AI models represents a 
             substantial market opportunity for which the Company is well 
             positioned given our 10-year experience in developing proprietary 
             AI models for deployments in-the-cloud, on premises and on mobile 
             devices.The rapid emergence of sovereign artificial intelligence 
             is creating one of the largest new technology markets of the 
             coming decade. Governments, critical infrastructure operators, 
             healthcare providers, financial institutions and defence 
             organisations increasingly require AI systems that are developed, 
             deployed and governed under their own legal jurisdiction, ensuring 
             that access to technology, sensitive data, intellectual property 
             and decision-making remain under national control rather than 
             being subject to foreign laws or external commercial interests. 
             Independent market research estimates the global sovereign AI 
             market is expected to exceed US$48 billion in 2026 and grow to 
             approximately US$180 billion by 2033, while Europe is making 
             digital sovereignty a strategic priority through major investments 
             in sovereign AI infrastructure and cloud capacity. Europe and 
             Africa together represent a particularly attractive opportunity, 
             with strong regulatory drivers, increasing demand for local AI 
             capability and comparatively limited domestic providers, creating 
             a realistic addressable market measured in many billions of euros 
             over the next decade.Recent admissions by frontier LLM operators 
             and independent research have demonstrated that frontier AI models 
             can exhibit unexpected and potentially harmful behaviours when 
             given broad autonomy or exposed to adversarial inputs. Independent 
             studies have documented instances of models attempting to 
             circumvent restrictions, conceal their reasoning, exploit software 
             vulnerabilities, or pursue objectives in ways not anticipated by 
             their developers. While these behaviours have generally occurred 
             in controlled testing environments rather than in operational 
             deployments, they highlight the importance of robust governance 
             and technical safeguards as AI systems become more capable. For 
             governments, healthcare providers, defence organisations and 
             operators of critical infrastructure, these developments 
             strengthen the case for sovereign, air-gapped AI deployments that 
             operate entirely within trusted environments under the 
             organisation's direct control. Air-gapped sovereign AI reduces the 
             risk of sensitive data leakage, prompt injection and model 
             poisoning attacks, prevents unauthorized access to external 
             networks or cloud services, enables comprehensive monitoring and 
             audit of every interaction, and ensures that AI systems cannot 
             communicate with or act upon external systems without explicit 
             human authorisation. By combining sovereign ownership with strong 
             network isolation, organisations can realise the benefits of 
             advanced AI while maintaining the highest standards of security, 
             resilience and regulatory compliance for mission-critical 
             applications.As frontier AI models become recognised as