Trust Stamp FY23 EPS $(1.07) Vs $(2.55) YoY; Revenue $4.56M Vs $5.39M YoY
Portfolio Pulse from Benzinga Newsdesk
Trust Stamp reported a FY23 EPS of $(1.07), improving from $(2.55) YoY, with revenue decreasing to $4.56M from $5.39M. The reduction in revenue was attributed to the end of the ICE pilot and a shift towards SaaS sales, offset by a significant reduction in SG&A expenses. The company also reduced its operating loss to $7.64M from $12.08M YoY and strengthened its balance sheet through equity investments, raising a total of $10.32M. Trust Stamp continues to invest in R&D, boasting a portfolio of 20 issued patents and 15 pending, focusing on AI technology.
March 27, 2024 | 2:02 pm
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Trust Stamp, trading under the symbol IDAI, reported improved FY23 EPS and a strategic shift towards SaaS, alongside a robust investment in R&D and a growing patent portfolio.
The improvement in EPS and strategic shift towards SaaS, coupled with significant cost reductions and a focus on R&D, indicate a positive outlook for Trust Stamp. The successful equity raises and the emphasis on a growing patent portfolio suggest a strong foundation for future growth, potentially leading to a positive short-term impact on IDAI's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100