diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index a471997..a55546f 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-    ".": "3.12.0"
+    ".": "3.12.1"
 }
\ No newline at end of file
diff --git a/CHANGELOG.md b/CHANGELOG.md
index bcbf945..4c71954 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 <a name="v1.5.2"></a>
 
+## [3.12.1](https://github.com/Flagsmith/flagsmith-common/compare/v3.12.0...v3.12.1) (2026-07-21)
+
+
+### Dependency Updates
+
+* bump pyjwt to 2.13.0 [security] ([#255](https://github.com/Flagsmith/flagsmith-common/issues/255)) ([f4e7836](https://github.com/Flagsmith/flagsmith-common/commit/f4e78369c0b8c1e299c0cb452f1b756726c9ef1d))
+
 ## [3.12.0](https://github.com/Flagsmith/flagsmith-common/compare/v3.11.0...v3.12.0) (2026-07-14)
 
 
diff --git a/pyproject.toml b/pyproject.toml
index 1f53baa..bcfb235 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "flagsmith-common"
-version = "3.12.0"
+version = "3.12.1"
 description = "Flagsmith's common library"
 requires-python = ">=3.11,<4.0"
 dependencies = []
diff --git a/uv.lock b/uv.lock
index 65f84ad..42b9905 100644
--- a/uv.lock
+++ b/uv.lock
@@ -453,7 +453,7 @@ wheels = [
 
 [[package]]
 name = "flagsmith-common"
-version = "3.12.0"
+version = "3.12.1"
 source = { editable = "." }
 
 [package.optional-dependencies]