Trust Stamp (Nasdaq: IDAI) reported net recognized revenue of $1.66 million for the six months ended June 30, 2026, a 22% increase from $1.36 million in the same period of 2025, according to a company statement. The growth was attributed to increased revenue from an S&P 500 bank customer and $192,000 billed in the second quarter for work with a multinational telecommunications corporation operating in Africa.

The company said that subsequent to June 30, an additional $800,000 of work was delivered to the same telecom client, bringing total billed and billable work for that engagement to $992,000. Trust Stamp also said it is in negotiations with a second African telecoms company and that three government-related contracts in Ghana are expected to result in one or more definitive agreements during fiscal year 2026.

Total operating expenses rose to $6.32 million for the first half of 2026, up from $5.20 million in the same period of 2025. The net loss widened to $4.93 million from $3.87 million year over year, though the company noted $1.42 million of that loss consisted of non-cash expenses, resulting in a cash burn from operations of $3.51 million. Cash and cash equivalents stood at $6.31 million as of June 30, 2026.

The company identified a sales pipeline of $42.40 million for 2026 and 2027 combined, with a probability-weighted estimate of $9.48 million in potential revenue.

Trust Stamp also disclosed that its Malta subsidiary has been selected as a direct participant in the EU's Important Project of Common European Interest on Advanced Semiconductor Technologies (IPCEI AST), supported by Malta Enterprise. The participation involves two planned cooperation agreements spanning 2027 to 2032, pending formal approval, focused on secure semiconductor identity platforms and AI-supported neural signal processing.

Separately, the company announced the formation of the Sovereign Technology Centre Limited, a Malta-incorporated entity aimed at developing sovereign AI products, including large language models and sector-specific AI tools intended for government and enterprise clients in Europe and Africa.