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Trust Stamp deals set up near-future revenues: biometrics stock wrap

Zoom-Five9 off, Sterling IPO rakes in $94M
Trust Stamp deals set up near-future revenues: biometrics stock wrap

Trust Stamp gained 29 percent in non-GAAP gross sales in the first half of 2021 compared to a year earlier, surpassing $1.4 million, but the company is expecting bigger revenues ahead in the fourth quarter of 2021, and into 2022.

According to an earnings announcement, the company expanded its Malta research and development facility and opened a “campus” in Rwanda in the first half of 2021, as part of a shift in expense allocation to bring commercial solutions to market faster. Trust Stamp’s total operating loss for the first six months of the year was $4.7 million, compared to $1.9 million in 1H 2020.

Since the company’s fiscal first half ended on June 30, Trust Stamp has won a multi-million dollar biometrics contract with ICE and been announced as biometric privacy technology provider for Mastercard’s financial inclusion initiative in Africa with Paycode.

As these and other deals come online, Trust Stamp expects to see significant volume and usage-based revenues.

The company says it remains on track for a planned listing to the Nasdaq Capital Market, including with an ongoing $5 million public funding round.

Five9 stakeholders reject deal

The preliminary acquisition of Five9 by Zoom to add voice biometrics and contact center services to its technology portfolio has been rejected by Five9 shareholders, CNBC reports.

Five9 cited favorable market dynamics and strong foundations in an announcement, also stating its intention to expand the company’s contact center platform and invest in bringing its technology to market.

Zoom will continue adding capabilities to its portfolio, according to a blog post by company Founder and CEO Erin Yuan.

“Five9 was one such opportunity, as it presented an attractive means to bring to our customers an integrated contact center offering,” Yuan writes. “That said, it was in no way foundational to the success of our platform nor was it the only way for us to offer our customers a compelling contact center solution.”

The companies will continue to operate as partners.

The deal was being reviewed by the U.S. Department of Justice due to concerns of Chinese government influence.

Sterling IPO raises $94M

Sterling Check Corp, parent company of Sterling Identity, has launched an initial public offering of 14,285,000 shares from the company and its existing stockholders on the Nasdaq at $23 per share.

The company, which was offering up roughly a third of the shares, netted approximately $94.4 million from the IPO, and Sterling stock opened at $27.

In addition to Sterling Identity’s fingerprint biometric background checks, the company formed a partnership with ID.me to support remote hiring processes early in 2021.

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