Machine learning predictions based on historical earnings data and price patterns
1-Day Prediction
-3.45%
$2.95
0% positive prob.
5-Day Prediction
-7.19%
$2.84
0% positive prob.
20-Day Prediction
-2.59%
$2.98
0% positive prob.
SEC 8-K filings with transcript text
Aug 14, 2026 · 100% conf.
1D
-3.45%
$2.95
Act: -1.63%
5D
-7.19%
$2.84
20D
-2.59%
$2.98
2 e7855_ex99-1.htm
Data Storage Corporation Provides Second Quarter 2026 Business Update
Conference Call to be Held Today at 11:00 am ET
New York, N.Y., August 14, 2026 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DTST” and the “Company”), today provided a business update for the second quarter ended June 30, 2026.
Business Highlights:
●Advanced the Company’s long-term investment strategy by actively evaluating acquisition opportunities focused on recurring revenue technology businesses.
●Continued momentum at Nexxis, with revenue from continuing operations increasing 9.3% year over year.
●Maintained a strong capital position following successful tender offer, to support disciplined capital deployment and future M&A opportunities.
Chuck Piluso, Chief Executive Officer of Data Storage Corporation, commented, “The second quarter marked another step forward in our transformation following the successful sale of our CloudFirst business. While Nexxis continued to generate recurring telecommunications revenue and delivered year-over-year growth in both revenue and gross profit, the most important work taking place today is the execution of our long-term capital allocation strategy.”
“Our objective is clear—to build shareholder value through disciplined investments and strategic acquisitions of businesses with recurring revenue, predictable cash flows and attractive long-term growth opportunities. We are actively evaluating opportunities across AI infrastructure, cybersecurity, communications, enterprise software and other technology sectors where we believe our experience, public company platform and financial resources can create meaningful value.”
“We are focused on acquiring quality businesses that we believe can generate sustainable earnings and complement our long-term investment strategy. We are looking for companies with established customer relationships, recurring revenue models, experienced management teams and opportunities for operational and financial growth.”
“At the same time, Nexxis continues to perform well as a stable operating business, reflecting continued demand for reliable enterprise connectivity solutions. We believe this recurring revenue business provides an attractive operating foundation while we pursue acquisition opportunities that have the potential to significantly expand our scale and earnings power.”
“With approximately $9.3 million in cash and cash equivalents and marketable securities, no long-term debt and the flexibility provided by our streamlined corporate structure, we believe we are well positioned to act when attractive opportunities arise. Our focus remains on disciplined execution, prudent capital allocation and building long-term value for our shareholders.”
Conference Call
Management will host a business update call today at 11:00 a.m. Eastern Time, to discuss the Company’s financial results for the second quarter of 2026 which ended June 30, 2026, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DTST Business Update Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through February 14, 2027. A telephone replay of the call will be available approximately three hours following the call, through August 21, 2026, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13761587.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST), through its subsidiary Nexxis Inc., provides VoIP, internet access, SD-WAN, and data transport services as part of its integrated technology solutions platform. The Company is also pursuing strategic initiatives focused on AI continuity infrastructure for regulated industries, including the planned establishment of Sovereign AI Solutions (“SaiS”), which is intended to support recovery, resiliency, and compliance for sovereign AI and AI Factory environments.
DTST continues to evaluate strategic opportunities, including potential investments, partnerships, acquisitions, and other transactions focused on AI infrastructure, cybersecurity, telecommunications, and emerging enterprise technology markets. For more information, visit www.dtst.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performanc
May 15, 2026
2 e7643_ex99-1.htm
Data Storage Corporation Provides First Quarter 2026 Business Update
Highlights Strategic Expansion into AI Continuity Infrastructure for Regulated Industries
Conference Call to be Held Today at 11:00 am ET
New York, N.Y., May 15, 2026 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DTST” and the “Company”), today provided a business update for the first quarter ended March 31, 2026, highlighting the Company’s strategic initiatives focused on emerging AI infrastructure opportunities and regulated enterprise continuity solutions.
Business Highlights:
●Launching Sovereign AI Solutions (SaiS): Establishing a wholly owned subsidiary, Sovereign AI Solutions (“SaiS”), focused on developing a purpose-built AI Continuity Control Plane for regulated industries designed to support recovery, validation, and compliance for sovereign AI and AI Factory environments across sectors such as healthcare, financial services, and insurance.
●Strong Financial Position: Maintained strong financial position with no long-term debt and substantial working capital.
●Stable Nexxis Operations: Continued stable recurring operations through Nexxis Inc.’s telecom, internet access, VoIP, and SD-WAN services.
●Evaluation of Strategic Opportunities: Continuing to evaluate strategic partnerships, investments, and acquisition opportunities that enhance shareholder value.
Chuck Piluso, Chief Executive Officer of Data Storage Corporation, commented, “During the first quarter, we continued executing our strategic transformation following the sale of our cloud solutions business in 2025, with a focus on identifying large-scale infrastructure opportunities where we believe regulatory requirements and enterprise AI adoption are creating meaningful long-term demand. As organizations increasingly deploy sovereign AI and AI Factory environments across healthcare, financial services, and insurance sectors, we believe a significant infrastructure gap is emerging around AI recovery, resiliency, validation, and compliance for mission-critical systems.”
“To address this opportunity, we are establishing Sovereign AI Solutions, a wholly owned subsidiary focused on developing a purpose-built AI Continuity Control Plane designed for regulated industries. We believe this initiative positions DTST to participate in a large and rapidly evolving market opportunity while leveraging our experience supporting critical enterprise infrastructure environments.”
“At the same time, Nexxis continues to provide a stable recurring revenue base through its telecom, VoIP, direct internet access, SD-WAN, and data transport services. During the first quarter of 2026, sales from Nexxis increased 10.9% year over year, while gross profit increased 32.1% with gross margin expanding to 53.7% from 45.0% in the prior year period. We believe these results reflect continued demand for our connectivity solutions, increased spending from existing customers, and the operational foundation necessary to support our broader strategic initiatives.”
“Importantly, we are pursuing this strategy from a position of financial strength. With no long-term debt, substantial working capital, disciplined capital deployment, and stable recurring operations, we believe we are well positioned to advance our strategic initiatives while maintaining operational flexibility.”
“Looking ahead, we expect to continue advancing development initiatives associated with SaiS throughout 2026 and anticipate providing additional commercial and operational updates as the platform progresses toward potential customer engagements. We also continue evaluating complementary opportunities, including strategic partnerships, investments, and acquisitions, that we believe may strengthen our long-term positioning while enhancing shareholder value.”
Conference Call
Management will host a business update call today at 11:00 a.m. Eastern Time, to discuss the Company’s financial results for the first quarter of 2026 which ended March 31, 2026, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DTST Business Update Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through November 15, 2026. A telephone replay of the call will be available approximately three hours following the call, through May 22, 2026, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13760358.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST), through its subsidiary Nexxis Inc., provides VoIP, internet access, SD-WAN, and data transport services as par
Apr 14, 2026
2 e7557_ex99-1.htm
Data Storage Corporation Reports Fiscal Year 2025 Results; Completes $40 Million
CloudFirst Divestiture, Returns $29.3 Million to Shareholders Via Tender Offer, and Reports Record
Net Income of $19.2 Million
Company enters 2026 debt-free with over $10 million in capital, Nexxis operations
growing 13.4% with 44.4% gross margins, and a goal of pursuing opportunities in high-growth
technology sectors
Conference Call to be Held Today at 11:00 am ET
New York, N.Y., April 14, 2026 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DTST” and the “Company”), today announced financial results for the fiscal year ended December 31, 2025, and provided a business update.
Business Highlights:
●Completed $40 million CloudFirst divestiture, generating approximately $31.6 million in net proceeds and a $20.1 million net gain on discontinued operations
●Returned $29.3 million to shareholders through a tender offer at $5.20 per share, reducing shares outstanding by approximately 72% of the total shares outstanding as of December 8, 2025
●Delivered record net income of $19.2 million, primarily attributable to the CloudFirst sale
●Strengthened capital structure, exiting 2025 debt-free with over $10 million in cash and significant financial flexibility
●Positioned for M&A, JV, and organic driven growth with a goal of pursuing accretive opportunities
DTST has emerged as a streamlined, Nasdaq-listed platform with capital, operational discipline, and strategic flexibility to pursue value-accretive acquisitions. The Company is actively evaluating opportunities in billion-dollar markets, including but not limited to AI-enabled vertical SaaS and GPU infrastructure, cybersecurity and SOC-related solutions, and scalable technology services with recurring revenue models. DTST’s strategy is centered on disciplined capital allocation, targeting high-growth and high-margin businesses where it can accelerate scale and enhance long-term shareholder value.
DTST continues to operate Nexxis Inc. (“Nexxis”), today its core business, which provides a stable and growing operating foundation. Revenue from continuing operations totaled $1.4 million, up 13.4% year over year, with gross profit of $614,324 and gross margin expanding to 44.4% from 43.2% in the prior year. Nexxis also improved customer diversification, with no customer representing more than 10% of revenue.
With its strengthened balance sheet and available capital, the Company is rapidly advancing initiatives targeting emerging AI infrastructure opportunities within enterprise technology. These efforts reflect the Company’s focus on aligning capital deployment with large, evolving market needs and evaluating multiple strategic pathways for execution. The Company expects to provide near-term updates as these initiatives progress.
“2025 was the most consequential year in Data Storage Corporation’s history,” said Chuck Piluso, Chief Executive Officer. “We monetized a legacy asset, returned the majority of proceeds to shareholders who tendered their shares, and repositioned DTST as a clean, well-capitalized platform focused on growth. We are now focused on deploying capital into high-quality businesses where we can drive scale, expand margins, and create long-term shareholder value. Importantly, we have already identified a number of highly attractive and actionable opportunities that we believe have the potential to create significant value for the Company, and we are working aggressively to advance these initiatives. We look forward to providing meaningful updates in the near term as these initiatives continue to develop.”
Conference Call
Management will host a business update call today at 11:00 a.m. Eastern Time, to discuss the Company’s financial results for the 2025 fiscal year which ended December 31, 2025, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DTST Business Update Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through October 14, 2026. A telephone replay of the call will be available approximately three hours following the call, through April 21, 2026, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13759995.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST), through its subsidiary today, Nexxis, provides Voice over Internet Protocol (“VoIP”), Internet access, and data transport services as part of DTST’s one-stop solution set. In the future, DTST plans to invest in and support businesses, including, but not limited to, GPU Infrastructure, AI-driven
Nov 19, 2025
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DTST Reports Q3 2025 Results Following Transformative CloudFirst Sale
Transaction Unlocks Shareholder Value and Refocuses Company on High-Growth AI, Cybersecurity, and Infrastructure Markets
Conference Call to be Held Today at 10:00 am ET
MELVILLE, N.Y., November 19, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (the “Company”), today provided a business update and reported financial results for the three months and nine months ended September 30, 2025.
Chuck Piluso, Chairman and Chief Executive Officer of Data Storage Corporation, commented, “This quarter represents a defining period for Data Storage Corporation as we completed the sale of our CloudFirst subsidiary and repositioned the Company for its next phase of disciplined growth. The CloudFirst sale was a transformative milestone that unlocked significant shareholder value and provided us with a solid financial foundation for the future. It allows us to simplify our structure, sharpen our focus, and redeploy capital toward initiatives that offer higher returns and long-term sustainability.”
“With this transaction behind us, we are executing from a position of strength. We now have the flexibility to strategically invest in high-growth areas where we believe we can build durable competitive advantages, including, but not limited to, GPU Infrastructure-as-a-Service (IaaS), AI-driven software applications, cybersecurity, and voice/data telecommunications. Our priority is to remain disciplined—both operationally and financially. We are committed to creating lasting value through prudent capital allocation, sound execution, and thoughtful innovation. Our Nexxis subsidiary continues to perform well, and we believe it provides a stable, recurring revenue base that supports our broader strategic objectives.”
“Looking forward, we intend to leverage our expertise, financial strength, and market position to identify opportunities that align with our core competencies and aim to build upon our history in data and communications infrastructure to deliver sustainable results and long-term shareholder value.”
Conference Call
The management will host a business update conference call today at 10:00 a.m. Eastern Time, to discuss the Company’s sale of its CloudFirst subsidiary as well as its strategic business outlook.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DTST Business Update Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through May 19, 2026. A telephone replay of the call will be available approximately three hours following the call, through November 26, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13757276.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST), once the tender offer is complete, plans to invest in and support businesses, including, but not limited to, GPU Infrastructure-as-a-Service (IaaS), AI-driven software applications, cybersecurity, and voice/data telecommunications. The Company’s mission is to build sustainable, recurring revenue streams while maintaining financial discipline and strategic focus. For more information, visit www.dtst.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and include statements regarding repositioning the Company for its next phase of disciplined growth; the CloudFirst sale providing the Company with a solid financial foundation for the future; allowing the Company to simplify its struct
Aug 14, 2025
2 e6785_ex99-1.htm
DTST Reports 2025 Second Quarter Financial Results and
Provides Business Update
Conference Call to be Held Today at 11:00 am ET
MELVILLE, N.Y., August 14, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (the “Company”), today provided a business update and reported financial results for the three months and six months ended June 30, 2025.
Second Quarter 2025 Highlights:
●Revenue was $5.1 million, up 4.8% from the same period in 2024, driven by continued growth in subscription-based cloud and Nexxis services
●Gross profit totaled $2.5 million, maintaining consistent margin levels
●Cash and marketable securities were $11.1 million, with no long term debt
“We continue to see strong growth in our core business, particularly in our higher-margin, recurring subscription sales,” said Chuck Piluso, Chairman and Chief Executive Officer of Data Storage Corporation. “Building on this momentum, a central development is the proposed $40 million sale of CloudFirst Technologies Corporation, representing a substantial premium to our market capitalization prior to the announcement. If the transaction is approved by our shareholders and we consummate the transaction, we anticipate net proceeds of approximately $24 million, after fees, taxes, and other adjustments.”
“In connection with the proposed transaction if approved by our shareholders and consummated, our Board of Directors has authorized a tender offer to repurchase up to 85% of our outstanding common stock, using 85% of cash on hand at the time the tender offer is commenced. This cash on hand will include net proceeds from the proposed transaction. This structure is intended to deliver a meaningful return of capital to shareholders while retaining 15% of cash for acquisitions, innovation, and expansion.”
“CloudFirst has delivered consistent year-over-year EBITDA growth and remains a valuable business. Assuming approval by our shareholders, we expect the proposed transaction to unlock this value, convert it into tangible returns, and allow us to focus resources on high-growth technology sectors such as, but not limited to, artificial intelligence, cybersecurity, and AI vertical SaaS. If the proposed transaction is not approved by our shareholders, CloudFirst will remain a core part of our operations, and we will continue to invest in its performance while pursuing new strategic opportunities.”
“Regardless of the outcome, our long-term plan is clear: to continue evolving Data Storage Corporation into a technology-driven enterprise that capitalizes on market trends and emerging opportunities. As part of this transformation, we are evaluating a full corporate rebranding to align our identity with our strategic direction. We will also continue to operate Nexxis Inc. as a portfolio asset and seek opportunities where our operational expertise can unlock additional value.”
“The proposed sale of CloudFirst Technologies Corporation is subject to shareholder approval at our annual meeting scheduled to be held on September 10, 2025. We encourage all shareholders to review the proxy materials, which detail the transaction terms, the Board’s rationale, and our broader growth strategy,” concluded Mr. Piluso.
Chris Panagiotakos, Chief Financial Officer of Data Storage Corporation, added, “In the second quarter, we delivered total sales of $5.1 million, up 4.8% from last year, driven by continued growth in our subscription-based cloud and Nexxis services, partially offset by lower equipment and software sales. For the first half of 2025, sales totaled $13.2 million, reflecting strength in recurring revenue despite declines in non-recurring equipment sales. We ended the quarter with $11.1 million in cash, and marketable securities, providing a solid liquidity position to fund our strategic growth initiatives.”
Conference Call
The management will host a conference call at 11:00 a.m. Eastern Time today, August 14, 2025, to discuss the Company’s progress and the financial results for the second quarter of 2025, which ended June 30, 2025.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DSC Q2 2025 Earnings Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through February 14, 2026. A telephone replay of the call will be available approximately three hours following the call, through August 21, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13755236.
The press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The Offer for the shares of Common Stock described in this press release has not commen
May 15, 2025
2 e6603_ex99-1.htm
DTST Reports 2025 First Quarter Financial Results and Provides Business Update
·Strong Q1 2025 Performance Driven by 14% YoY Revenue Growth in Cloud Infrastructure and Disaster Recovery Services
·CloudFirst International Expansion Accelerated Through Strategic Partnership with Pulsant
·Conference Call to be held today at 11:00 am ET
MELVILLE, N.Y., May 15, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a leading provider of multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, and IT automation, with direct connection to AWS, Microsoft Azure, and Google Cloud, today provided a business update and reported financial results for the three months ended March 31, 2025.
First Quarter 2025 Highlights
·Revenue was $8.1 million, driven by 14% year-over-year growth in Cloud Infrastructure and Disaster Recovery services
·Gross profit totaled $2.86 million, maintaining consistent margin levels
·Adjusted EBITDA* reached $497,000, reflecting operational discipline
·Cash and marketable securities were $11.1 million, with no long term debt
“We are pleased to report our first quarter results, which reflect both solid financial performance and strategic progress,” said Chuck Piluso, CEO of Data Storage Corporation. “Specifically, CloudFirst Technologies continues to operate profitably on a standalone basis and serves as a scalable, recurring revenue engine. To support our international strategy, we recently partnered with Pulsant, a leading U.K. edge data center provider, enabling us to extend our IBM Power-based cloud offerings across their national footprint. This collaboration positions us to serve regulated and enterprise clients more effectively throughout the U.K. and Europe.”
“Furthermore, CloudFirst recently completed a major infrastructure upgrade for a long-time enterprise client in the food distribution sector. We migrated legacy systems to high-performance IBM processors, allowing for direct connections with leading providers including AWS, Azure, and Google Cloud—enhancing scalability, security, and cost-efficiency. This contract is an example of how our expertise in delivering complex IT transformations sets us apart in the market and fosters strong client loyalty, with customers consistently returning to us as their trusted partner.”
Chris Panagiotakos, CFO of Data Storage Corporation, added, “Financially, our core cloud infrastructure and disaster recovery services remain strong performers, evidenced by a 14% year-over-year revenue increase. Our total revenue had a modest decline due to reduced equipment sales, however this aligns with our strategic focus to continue to build a stable high-margin, recurring revenue client base. Our adjusted EBITDA reached $497,000 for the quarter, reflecting our ongoing commitment to operational efficiency and margin discipline. Backed by a strong balance sheet and a growing client base, we are well-positioned to scale our platform, expand our market presence, and create sustained long-term value.”
Mr. Piluso added, “Overall, we remain focused on growing our high-margin, recurring cloud revenue base, expanding our global partner ecosystem, and delivering the modernization, compliance, and resilience our clients require. These priorities reflect our long-term vision to build a scalable, differentiated platform in the enterprise multi-cloud space.”
Conference Call
The Company will host a conference call at 11:00 a.m. Eastern Time on Thursday, May 15, 2025, to discuss the Company’s progress and the financial results for the first quarter of 2025, which ended March 31, 2025.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-412-652-1274. A webcast of the call may be accessed at DSC Q1 2025 Earnings Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through November 15, 2025. A telephone replay of the call will be available approximately three hours following the call, through May 22, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13753165.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) through its subsidiaries is a leading provider of multi-cloud hosting, fully managed cloud services, disaster recovery, cybersecurity, IT automation, and voice & data solutions.
Recognizing that data migration is a critical step in transitioning from on-premises systems to the cloud, DSC provides comprehensive migration services to ensure seamless, secure, and efficient data transfer, minimizing downtime and optimizing performance.
Built on IBM Power servers, DTST’s subsidiary owns their cloud platform manages the platf
Mar 31, 2025
2 e6469_ex99-1.htm
Data Storage Corporation Reports 2024 Fiscal Year Financial Results and
Provides Business Update
●Expanded CloudFirst platform in 2024 with 4 new Tier III data centers (UK & Chicago), totaling 10 globally to enhance multi-cloud and continuity services across North America and Europe
●Completed Flagship Solutions Group integration into CloudFirst, boosting efficiency and cross-sell potential to clients; secured major 2024 contracts across motorsports, insurance, healthcare, and education sectors
●Net income improved by approximately 71% for the 2024 fiscal year compared to 2023 fiscal year and achieved Adjusted EBITDA* of $2.37 million for 2024
●Ends 2024 with $12.3 million in cash and marketable securities and no long-term debt
●Conference Call to be held today at 11:00 am ET
MELVILLE, N.Y., March 31, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a leading provider of multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, and IT automation, with direct connection to AWS, Microsoft Azure, and Google Cloud, today provided a business update and reported financial results for the year ended December 31, 2024.
“We made consistent progress in 2024 — both financially and strategically,” said Chuck Piluso, CEO of Data Storage Corporation. “To start, total revenue for the year increased to $25.4 million, a modest 2% gain from 2023, reflecting a shift from lower-margin, one-time equipment sales toward long term, recurring subscription revenue streams. This strategy builds on our already $39.2 million remaining contract value with disaster recovery and cloud hosting solutions. Importantly, we ended the year with an estimated $22 million Annual Recurring Revenue run rate, demonstrating the scalability and consistency of our subscription-based model with over 80% of our revenue recurring. Furthermore, net income rose approximately 71% to $513 thousand, while Adjusted EBITDA* increased to $2.37 million — both strong indicators of improved margins and greater operational efficiency. Finally, with $12.3 million in cash and marketable securities and no long-term debt, we remain well-positioned to invest in future growth.”
“In 2024, we also took steps to expand our footprint. Internationally, we launched CloudFirst Europe Ltd. supported by three Tier III data centers in the UK through three strategic partnerships. This expansion positions us to provide our Power platform serving clients across the U.S., Canada, and the UK — we are one of the few single source global providers. To lead our European operations, we appointed Colin Freeman as Managing Director, and early traction in the region has been promising. Domestically, we added a Tier III data center in Chicago, bringing our total to ten global sites while enhancing redundancy and performance across North America.”
“We also completed the full integration of our Flagship Solutions Group subsidiary into our CloudFirst Technologies subsidiary, which has streamlined operations and improved our ability to deliver integrated cloud and managed services to clients. Key new contracts in 2024 included engagements with a Canadian division of a major motorsports manufacturer, a billion-dollar insurance provider, and a U.S. medical center — each reflecting our strength in delivering compliant, mission-critical high processing infrastructure solutions.”
“Overall, 2024 was a year of meaningful execution across all fronts. We advanced our shift to a high-margin, recurring revenue model, expanded into new international markets, strengthened our infrastructure, and delivered improved financial results. These accomplishments reinforce our long-term vision and position us to scale further in 2025 and beyond as demand for compliant, enterprise-grade cloud solutions continues to rise globally.”
Conference Call
The Company plans will host a conference call at 11:00 a.m. Eastern Time on Monday, March 31, 2025, to discuss the Company’s financial results for the 2024 fiscal year which ended December 31, 2024, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-201-689-8852. A webcast of the call may be accessed at DSC 2024 Fiscal Year Earnings Call or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through September 30, 2025. A telephone replay of the call will be available approximately three hours following the call, through April 7, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13751220.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) through its subsidiaries is a leading p
Nov 14, 2024
2 e6134_ex99-1.htm
99.1
Data Storage Corporation Reports 2024 Third Quarter Financial Results and Provides Business Update
Gross Profit Margin Increased over 400 Basis Points to 43.2% For the Third Quarter of 2024
Achieved Profitability for the Three and Nine Months Ended September 30, 2024
MELVILLE, N.Y., November 14, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three and nine months ended September 30, 2024.
“We have made important progress during recent months,” commented Chuck Piluso, CEO of Data Storage Corporation. “Specifically, we achieved $19.0 million in sales for the nine months ended September 30, 2024 and attained profitability for both the three and nine month periods. For the third quarter, we generated $5.8 million in sales. While this reflects a slight decline from the previous year, it does align with our strategic focus on building high margin recurring subscription revenue, that typically renew for many years, rather than relying on one-time equipment sales that cycle every three to five years. As a result of this strategy, we are pleased to report our gross profit increased by 8.7% and our gross margin increased by over 400 basis points for the third quarter of 2024. Our primary objective remains the same - securing high margin service agreements on our enterprise infrastructure platform, which create a more stable revenue foundation and support long-term growth and profitability.”
“These results highlight the success of our growth strategy, including expanding partnerships with major industry players, launching a new data center in Chicago, and establishing a presence in the UK. First, we expanded our relationship with a billion-dollar insurance firm to enhance its cloud infrastructure and cybersecurity, reaffirming our role as a trusted provider for large, compliance-driven organizations. In healthcare, we secured a contract with a leading medical center for compliant cloud hosting, further strengthening our position in this highly regulated sector. Additionally, we secured a six-figure contract with a music publishing organization in education, demonstrating our adaptability to meet data-intensive needs across diverse industries. These agreements highlight our strategic focus on sectors requiring secure, scalable cloud based solutions. Furthermore, our strategically located new data center in Chicago strengthens our ability to support our growing U.S. customer base, ensuring we meet our clients’ needs with reliability and capacity.”
“In addition, our recent expansion into the UK market, along with the successful integration of Flagship Solutions, has further strengthened our global presence and operational efficiency, positioning us for accelerated growth and global reach. We also recently announced the appointment of Colin Freeman as Managing Director of UK Cloud Host Technologies Ltd., a wholly-owned subsidiary of CloudFirst Technologies, an important step in our strategy to expand across the European market and deliver our solutions to this key market. With Colin’s extensive leadership experience, we are confident he will be instrumental in accelerating our growth in the region. In addition to his appointment, we are establishing strategic infrastructure deployment in data centers in the UK, positioning us to make a strong entry and enhance our footprint in this key market. These achievements are important to our organic growth strategy, allowing us to capture new opportunities and broaden our impact. We’re proud of our progress in expanding contracts, extending our international reach, and increasing industry prominence.”
1
Chris Panagiotakos, CFO of Data Storage Corporation, added, “We are in a strong financial position with approximately $11.9 million in cash and marketable securities and no long-term debt, providing us the flexibility to make strategic investments, keeping us well-prepared to pursue growth opportunities that deliver long-term value for our shareholders. We look forward to continuing to carefully manage expenses and execute on our growth strategy.”
Conference Call
The Company plans to host a conference call at 11:00 am ET today, to discuss the Company’s financial results for the third quarter of 2024 which ended September 30, 2024, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-451-6152 for U.S. callers or for international callers +1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1677740&tp_key=34d545e620 or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the
Aug 14, 2024
2 e5872_ex99-1.htm
Data Storage Corporation Reports 2024 Second Quarter Financial Results and Provides Business Update
Gross Profit Margin Increased Over 500 Basis Points to 49.0% for the Second Quarter of 2024
Achieved Profitability for the Six Months Ended June 30, 2024
MELVILLE, N.Y., August 14, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three and six months ended June 30, 2024.
“We experienced strong growth for the first half of 2024,” commented Chuck Piluso, CEO of Data Storage Corporation. “Specifically, we achieved $13.1 million in sales for the six months ended June 30, 2024, and attained profitability. For the second quarter of 2024, we generated $4.9 million in revenue. While this represents a decline from the previous year’s second quarter, it is important to note that the reduction is attributable to the large one-time equipment sales recorded during the second quarter of 2023. Importantly, our gross profit margin increased over 500 basis points to 49.0% during the second quarter of 2024, up from 43.7% in the same period last year. The increased margin is a testament to our disciplined execution and strategic efforts to optimize profitability while building a sustainable revenue base.”
“We believe these positive results are a direct result of our growth efforts including the Flagship and CloudFirst consolidation, moving into our new headquarters location, expanding into the United Kingdom, and deploying technical assets at a new data center in Chicago, all of which were completed to support our anticipated growth moving forward. In fact, we are already witnessing the positive effects of the consolidation demonstrated by the expanded contracts secured during the quarter resulting in six-figure and seven-figure contracts with prominent clients.”
“To support the traction and growth, we recently expanded into the United Kingdom with the opening of our London office. This strategic move represents a significant milestone in our plan to serve a global clientele and strengthen our presence in key international markets. In addition, we are witnessing an increased demand for our solutions, and as a result we deployed assets to our seventh data center in Chicago. Chicago was strategically selected as it is expected to allow us to capitalize on the growing demand within the region as well as diversify our geographic footprint within the United States.”
“Overall, we are executing on a strategic growth plan which we believe will enable us to accelerate our growth and penetration within the market. At the same time, we have carefully managed our expenses and maintained a solid balance sheet with approximately $12 million in cash and marketable securities as of June 30, 2024. We are pleased with the important progress made during the quarter and look forward to providing additional updates as developments unfold,” concluded Mr. Piluso.
Conference Call
The Company plans to host a conference call at 11:00 am ET today, to discuss the Company’s financial results for the second quarter of 2024 which ended June 30, 2024, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-451-6152 for U.S. callers or for international callers +1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1677739&tp_key=572353fe45, or on the Company’s News & Events section of the website, www.dtst.com/news-events.
1
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through August 14, 2025. A telephone replay of the call will be available approximately three hours following the call, through August 21, 2024, and can be accessed by dialing 844-512-2921 for U.S. callers or + 1-412-317-6671 for international callers and entering conference ID: 13747395.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) is a leading provider of fully managed cloud hosting, disaster recovery, cybersecurity, IT automation, and voice & data solutions. With strategic technical investments in multiple regions, DTST serves a diverse clientele, including Fortune 500 companies, in sectors such as government, education, and healthcare. Focused on the fast-growing, multi-billion-dollar business continuity market, DTST is recognized as a stable and emerging growth leader in cloud infrastructure, support and the migration of data to the cloud. Our regional data centers across North America enable us to deliver sustainable services through recurring subscription agreements.
Additional information about the Company is available at: www.dtst.com and on X @DataStorageCorp.
May 15, 2024
2 e5677_ex99-1.htm
Data Storage Corporation Reports 20% Increase in Revenue and Again Achieves Profitability for the 2024 First Quarter
MELVILLE, N.Y., May 15, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three months ended March 31, 2024.
Chuck Piluso, CEO of Data Storage Corporation, stated, “We continue to execute on our business growth strategy, including new contracts with high profile clients, as well as streamlined operations for improved operations. As a result of our efforts, we witnessed a 20% increase in revenue to $8.2 million for the first quarter of 2024. Notably, our gross profit grew 42% with gross profit margin increasing to 36% for the first quarter of 2024 from 30% for the same period in 2023--demonstrating the success and scalability of our business model. Furthermore, we achieved profitability for the first quarter of 2024 and believe as we continue to execute on our strategic initiatives, we will continue to grow revenue and increase profitability.”
“Importantly, we began the year with the consolidation of our CloudFirst and Flagship subsidiaries. This strategic decision combines the unique strengths and expertise of the respective business units, positioning us to optimize operations, leverage our technical teams, realize greater efficiencies, and improve internal resource allocation, while allowing us to capitalize on cross-selling and upselling opportunities among our customers. As further validation of this strategy, we announced two meaningful contracts during the quarter. We expanded a contract with an existing client, a major global telecommunications company, while also securing a new contract with one of the largest insurance companies in the United States. We believe these are just the first of such announcements that will come from the efforts of the combined organizations.”
“In addition, we are actively advancing our international growth plan, including the recent opening of our London office to serve the European and other global markets. We moved to our new and expanded headquarter location in Melville, NY, which will help support our anticipated growth. These new offices are strategically designed to bolster our growth plans, including expanded technical, sales, and marketing initiatives.”
“Overall, we have developed a robust business strategy that we believe will drive growth and secure sustainable profitability, while maximizing long term value for shareholders. At the same time, we have a strong balance sheet with over $11.9 million in cash and marketable securities as of March 31, 2024, allowing us to deploy capital efficiently. We are proud of our continued progress and look forward to providing meaningful updates to shareholders as developments unfold,” concluded Mr. Piluso.
Conference Call
The Company plans to host a conference call at 11:00 am ET today, to discuss the Company’s financial results for the first quarter of 2024 which ended March 31, 2024, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-451-6152 for U.S. callers or for international callers +1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1654219&tp_key=c586e78999, or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through May 15, 2025. A telephone replay of the call will be available approximately three hours following the call, through May 22, 2024, and can be accessed by dialing 844-512-2921 for U.S. callers or + 1-412-317-6671 for international callers and entering conference ID: 13744139.
1
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) is a family of fully integrated cloud-hosting, disaster-recovery, cyber security, and voice & data companies, built around technical asset investments in multiple regions, providing services to a broad range of domestic and global customers, including Fortune 500 clients, across a wide range of industries, such as government, education, and healthcare, with a focus on the rapidly growing, multi-billion-dollar business continuity market. A stable and emerging growth leader in cloud infrastructure support, DTST companies operate regional data center facilities across North America, sustainably servicing clients via recurring subscription agreements. Additional information about the Company is available at: www.dtst.com and on Twitter (@DataStorageCorp).
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigati
Mar 28, 2024
2 e5538_ex99-1.htm
Exhibit 99.1
Data Storage Corporation Reports Record Revenue of $25 Million and
Achieves Profitability for the 2023 Fiscal Year
MELVILLE, N.Y., March 28, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the year ended December 31, 2023.
Chuck Piluso, CEO of Data Storage Corporation, stated, “We are proud to report record revenue of $25.0 million for the 2023 fiscal year which we believe is a direct result of the strategic growth initiatives we implemented throughout the year. Through our innovative marketing programs and highly attended events, we had continued success in securing one time equipment sales, however, our primary emphasis has been on our recurring subscription based services, which increased 17% over the prior year. Notably, gross profit grew 18.5% with gross profit margin increasing to 38.4% in 2023 from 33.9% in 2022—validating that our strategies are working. Importantly, we achieved profitability for the 2023 fiscal year and anticipate that as our revenue continues to grow, we will witness continued improvement in both our margins and overall profitability in 2024 and beyond.”
“We are witnessing strong contract momentum as evidenced by the several contract announcements made throughout the year. Specifically, we secured contracts with new clients as well as expanded relationships with existing clients, which we believe demonstrates our ability to meet the evolving needs of our clients. Furthermore, our newly implemented sales and marketing program is proving effective and strategically complements our Major Accounts Program, where we are capitalizing on the vast opportunities for upselling and cross-selling of our products and services.”
“We believe that by executing and advancing our growth strategies, including the CloudFirst and Flagship merger, as well as expanding distribution channels, enhancing digital and direct marketing efforts, refining lead generation processes, and investigating strategic M&A prospects, we can sustainably boost revenue and optimize long-term profitability. At the same time, we have preserved a strong balance with over $12.7 million in cash and marketable securities as of December 31, 2023. Overall, we believe we are at an inflection point where we are well positioned to further establish our leadership and capitalize on the vast and growing multibillion-dollar market opportunities our services address within the disaster-recovery, cloud infrastructure, cyber-security, and IT markets.”
Conference Call
The Company plans to host a conference call at 11:00 am ET today, to discuss the Company’s financial results for the 2023 fiscal year ended December 31, 2023, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 877-451-6152 for U.S. callers or for international callers +1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1654217&tp_key=1962ffb408, or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through March 28, 2025. A telephone replay of the call will be available approximately three hours following the call, through April 4, 2024, and can be accessed by dialing 844-512-2921 for U.S. callers or + 1-412-317-6671 for international callers and entering conference ID: 13744138.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) is a family of fully integrated cloud-hosting, disaster-recovery, cyber security, and voice & data companies, built around technical asset investments in multiple regions, providing services to a broad range of domestic and global customers, including Fortune 500 clients, across a wide range of industries, such as government, education, and healthcare, with a focus on the rapidly growing, multi-billion-dollar business continuity market. A stable and emerging growth leader in cloud infrastructure support, DTST companies operate regional data center facilities across North America, sustainably servicing clients via recurring subscription agreements. Additional information about the Company is available at: www.dtst.com and on Twitter (@DataStorageCorp).
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievemen
Nov 14, 2023
2 e5214_ex99-1.htm
Data Storage Corporation Reports 35% Increase in Revenue and Reports Profitability for the Third Quarter of 2023
MELVILLE, N.Y., November 14, 2023 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three months ended September 30, 2023.
Chuck Piluso, CEO of Data Storage Corporation, stated, “We continue to witness additional benefits of our business growth initiatives that we have implemented over the last several months, which has resulted in revenue increasing 35% and achieving another quarter of profitability. Specifically, we launched a new sales and marketing initiative that is designed to capitalize on the growing demand for our products and services. This complements other strategic programs underway that are proving effective, as illustrated by our strong contract momentum. In fact, we continue to secure new contracts as well as expand our relationship with existing clients. For example, we recently announced expanding our relationship with a large sports and entertainment organization to provide additional services, validating our ability to serve clients as they grow. In addition, we have secured new contracts with clients that provide the opportunity to up-sell and cross-sell our solutions, all of which we believe will assist in driving revenue growth and long-term profitability.”
“We believe with continued execution of our strategic plan, we are well positioned for long-term growth and profitability, with a goal of maximizing value for our shareholders. In addition, we have maintained a strong balance sheet with over $11.5 million in cash and marketable securities enabling us to deploy capital efficiently and effectively to support our ongoing growth. Overall, we are extremely pleased with our progress to date and look forward to witnessing additional benefits of our initiatives over time.”
Conference Call
The Company plans to host a conference call at 10:00 am ET today, to discuss the Company’s financial results for the third quarter of 2023 which ended September 30, 2023, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free
877-451-6152 for U.S. callers or for international callers +1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1639002&tp_key=e9b4b7c660, or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through November 14, 2024. A telephone replay of the call will be available approximately three hours following the call, through November 21, 2023, and can be accessed by dialing 844-512-2921 for U.S. callers or + 1-412-317-6671 for international callers and entering conference ID: 13742036.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) is a family of fully integrated cloud-hosting, disaster-recovery, cyber security, and voice & data companies, built around technical asset investments in multiple regions, providing services to a broad range of domestic and global customers, including Fortune 500 clients, across a wide range of industries, such as government, education, and healthcare, with a focus on the rapidly growing, multi-billion-dollar business continuity market. A stable and emerging growth leader in cloud infrastructure support, DTST companies operate regional data center facilities across North America, sustainably servicing clients via recurring subscription agreements. Additional information about the Company is available at: www.dtst.com and on Twitter (@DataStorageCorp).
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward looking statements in this press release include statements such as continuing to witness additional benefits of the Company’s business growth initi
Aug 14, 2023
2 e4939_ex99-1.htm
Data Storage Corporation Reports 22% Year-Over-Year Revenue Growth
and Achieves Profitability for the Second Quarter of 2023
MELVILLE, N.Y., August 14, 2023 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three months ended June 30, 2023.
Chuck Piluso, CEO of Data Storage Corporation, stated, “I am pleased to report we achieved solid financial results for the second quarter of 2023, with revenue increasing 22% and reporting positive net income for the second consecutive quarter. We are beginning to witness the benefits of our ongoing strategic business initiatives focused on driving high-margin, recurring revenues, while continuing to carefully manage our expenses. Specifically, we have expanded our marketing programs and hosted revenue-driven sales events. As a result of these efforts, we continue to grow our subscription-based services, which we believe will help ensure long-term profitability while driving value for our shareholders.”
“Our momentum has continued heading into the third quarter of 2023. For example, we recently secured a sizable, subscription-based contract with one of the largest food distributors in the United States. In addition, we were awarded a multi-million-dollar project with one of the nation’s leading sports and entertainment companies. At the same time, we have maintained a strong balance sheet with over $10.6 million in cash and short-term investments as of June 30, 2023. Overall, we are excited about the outlook for the business and look forward to achieving additional milestones in the near term.”
Conference Call
The Company plans to host a conference call at 10:00 am ET today, to discuss the Company's financial results for the second quarter of 2023 which ended June 30, 2023, as well as corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free
877-451-6152 for U.S. callers or for international callers 1-201-389-0879. A webcast of the call may be accessed at https://viavid.webcasts.com/starthere.jsp?ei=1622744&tp_key=44b279a647, or on the Company’s News & Events section of the website, www.dtst.com/news-events.
A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through August 14, 2024. A telephone replay of the call will be available approximately three hours following the call, through August 21, 2023, and can be accessed by dialing 844-512-2921 for U.S. callers or + 1-412-317-6671 for international callers and entering conference ID: 13739667.
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) is a family of fully integrated cloud-hosting, disaster-recovery, cyber security, and voice & data companies, built around investments in proprietary IT solutions for a broad range of domestic and global customers, including Fortune 500 clients, across a wide range of industries, such as government, education, and healthcare, with a focus on the rapidly growing, multi-billion-dollar business continuity market. A stable and emerging growth leader in cloud infrastructure support, DTST companies operate regional data center facilities across North America, sustainably servicing clients via recurring subscription agreements. Additional information about the Company is available at: www.dtst.com and on Twitter (@DataStorageCorp).
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward looking statements in this press release include statements such as continuing to carefully manage our expenses, continuing to grow the Company’s subscription-based services, the growth of the subscription-based services helping to ensure long-term profitability while driving value for Company’s shareholders and achieving additional milestones in the near term. Although the Company believes that the expectations reflected in such forward-looking statement
May 6, 2021
1 e2722_8ka.htm
Washington, D.C. 20549
(Amendment No. 1)
PURSUANT TO SECTION 13 OR 15(d) OF
Date of Report (Date of earliest event reported): May 5, 2021
(Exact name of registrant as specified in its charter)
(Former Name of Registrant)
Nevada
001-35384
98-0530147
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification Number)
48 South Service Road
Melville, New York 11747
(Address of principal executive offices) (zip code)
212-564-4922
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
N/A
N/A
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Data Storage Corporation is filing this Amendment No. 1 to its Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 2021 (the “Original Form 8-K”), to include information regarding net income for the fiscal quarters ended March 31, 2021 and March 31, 2020 and report all information as of May 6, 2021. For ease of reference, this Amendment No. 1 will amend and restate all of the information included in the Original Form 8-K and include the information about net income described in the previous sentence.
Item2.02. Results of Operation and Financial Condition.
Data Storage Corporation (the “Company”) is reporting its expectations with respect to certain of its unaudited results for the three and months ended March 31, 2021 and 2020 based upon management estimates.
The Company’s consolidated financial statements for the three months ended March 31, 2021 are not yet available. The Company’s expectations with respect to its unaudited results for the period discussed below are based upon management estimates. The estimates set forth below were prepared based upon a number of assumptions, estimates and business decisions that are inherently subject to significant business and economic conditions and competitive uncertainties and contingencies, many of which are beyond the Company’s control. This summary is not meant to be a comprehensive statement of the Company’s unaudited financial results for this period and the Company’s actual results may differ from these estimates. On a preliminary unaudited basis, the Company expects sales for the three months ended March 31, 2021 to be between $2,450,000 and $2,600,000, as compared to sales of approximately $2,098,710 for the three months ended March 31, 2020. On a preliminary unaudited basis, the Company expects gross profit for the three months ended March 31, 2021 to be between $1,000,000 and $1,100,000, as compared to gross profit of $882,593 for the three months ended March 31, 2020. On a preliminary unaudited basis, we expect net income for the three months ended March 31, 2021 to be close to break even, as compared to a net loss of ($40,473) for the three months ended March 31, 2020. The estimates of sales, gross profit and net income are the Company’s preliminary estimates based on currently available information and they do not present all necessary information for an understanding of the Company’s financial condition as of March 31, 2021 or the Company’s results of operations for the three months ended March 31, 2021. As the Company completes the process of the Company’s quarter-end financial close and finalize the Company’s first quarter 2021 unaudited financial statements, the Company will be required to make significant judgments in a number of areas that may result in the estimates provided herein being different than the final financial information. The preliminary estimates have been prepared by and are the responsibility of the Company’s management
May 5, 2021
8-K 1 e2709_8k.htm
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF
Date of Report (Date of earliest event reported): May 5, 2021
(Exact name of registrant as specified in its charter)
(Former Name of Registrant)
Nevada
001-35384
98-0530147
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification Number)
48 South Service Road
Melville, New York 11747
(Address of principal executive offices) (zip code)
212-564-4922
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
N/A
N/A
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item2.02. Results of Operation and Financial Condition.
Data Storage Corporation (the “Company”) is reporting its expectations with respect to certain of its unaudited results for the three and months ended March 31, 2021 and 2020 based upon management estimates.
The Company’s consolidated financial statements for the three months ended March 31, 2021 are not yet available. The Company’s expectations with respect to its unaudited results for the period discussed below are based upon management estimates. The estimates set forth below were prepared based upon a number of assumptions, estimates and business decisions that are inherently subject to significant business and economic conditions and competitive uncertainties and contingencies, many of which are beyond the Company’s control. This summary is not meant to be a comprehensive statement of the Company’s unaudited financial results for this period and the Company’s actual results may differ from these estimates. On a preliminary unaudited basis, the Company expects sales for the three months ended March 31, 2021 to be between $2,450,000 and $2,600,000, as compared to sales of approximately $2,098,710 for the three months ended March 31, 2020. On a preliminary unaudited basis, the Company expects gross profit for the three months ended March 31, 2021 to be between $1,000,000 and $1,100,000, as compared to gross profit of $882,593 for the three months ended March 31, 2020. The estimates of sales and gross profit are the Company’s preliminary estimates based on currently available information and they do not present all necessary information for an understanding of the Company’s financial condition as of March 31, 2021 or the Company’s results of operations for the three months ended March 31, 2021. As the Company completes the process of the Company’s quarter-end financial close and finalize the Company’s first quarter 2021 unaudited financial statements, the Company will be required to make significant judgments in a number of areas that may result in the estimates provided herein being different than the final financial information. The preliminary estimates have been prepared by and are the responsibility of the Company’s management. The Company’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to the preliminary estimates or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. The Company expects to complete its unaudited financial statements for the quarter ended March 31, 2021 and file the related Form 10-Q in a timely fashion. It is possible that the Company or its independent registered public accounting firm may identify items that require it to make adjustments to the preliminary estimates of sales and gross profit set forth above and those changes could be material. Accordingly, undue reliance should not be placed on the preliminary estimates. The preliminary estimates are n
Apr 1, 2021
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Data Storage Corporation Announces Year End Results 2020; Annual Revenue of $9.3 Million Represents Ten Percent Year over Year Increase
N.Y., April 1, 2021 (GLOBE NEWSWIRE) — Data Storage Corporation (OTC: DTST) (“DSC” and the “Company”), a provider of diverse business continuity, disaster recovery protection, and cloud infrastructure solutions and services, today provided a business update and announced its 2020 financial results.
Chuck Piluso, CEO of Data Storage Corporation, commented, “We continue to achieve meaningful financial performance and profitability despite the impact of COVID-19 on the global markets, as evidenced by a 10% increase in revenue to $9.3 million for the year ending December 31, 2020 as compared to the year ended December 31, 2019. Importantly, we had strong revenue growth in each of our key products: Nexxis VoIP Services increased by 44%; Infrastructure & Disaster Recovery/Cloud Services increased by 6.8%; Equipment and Software increased by 16%; and Managed Services increased by 4%. We achieved profitability while investing resources and capital in Nexxis, adding leadership for channel management, rounding out our product suite, as well as investing our income into further advancements in our infrastructure and operations to support our long-term growth initiatives. At the same time, we continue to carefully manage our expenses. Overall, we have built a scalable business model focused on high-margin recurring revenues.”
“Heading into 2021, we believe we have set the stage for continued growth. Due to the COVID-19 outbreak and the critical need for safe remote collaboration, we expanded our offering of cybersecurity solutions for remote tele-computing with our new product, ezSecurity™. We also launched a new remote collaboration program for small and medium-sized businesses. As part of this new program, we are offering free migration services from Microsoft Exchange to Microsoft 365, along with support for comprehensive voice communications (Hosted VoIP, IP Phones, Cloud PBX) and video conferencing. In addition, we expanded capacity through our new Dallas data center location to accommodate increased demand for our portfolio of ezServices, including ezBackup, ezRecovery and ezAvailability, adding to our existing network of data centers and fiber backbone.”
“At the same time, we expanded our North American footprint, including new markets in Canada, where we added two new Tier 3 enterprise-level data centers. We also recently announced a joint venture with Able-One Systems Inc, an IBM market leader, to provide our portfolio of enterprise-level IBM cloud infrastructure services to customers in Canada. We look forward to working closely with Able-One to develop new opportunities in Canada and solve technology issues for businesses seeking superior IBM infrastructure and Disaster Recovery services.”
“In addition to our organic growth, we are also exploring potential opportunities to acquire cash flow positive businesses with complementary products and services. Most recently, we entered into a definitive Agreement with Flagship Solutions, LLC to merge into our wholly owned subsidiary, Data Storage FL, LLC, at which time Flagship will become a wholly owned subsidiary of our Company. Flagship is a provider of IBM Software, Services, Equipment and cutting edge intelligent analytical and decision-making solutions, providing managed services and cloud solutions worldwide that include cloud-based server monitoring and management, 24×7 help desk support, and data center infrastructure management. We believe this transaction will be highly synergistic with our existing IBM business. This merger provides a comprehensive one-stop provider approach to cross-sell solutions across our respective enterprises and middle-market customers. Overall, we remain extremely encouraged by the outlook for the business and believe 2021 will be a transformative year for the Company.”
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Financial Results
Net sales for the year ended December 31, 2020 were $9,320,933, an increase of $837,325 or 10%, compared to $8,483,608 for the year ended December 31, 2019. The increase was primarily attributable to an increase in our infrastructure & disaster recover/ cloud subscription services due to a higher demand for IBM Power Systems cloud hosting, increased equipment sales, as well as an increase in demand for our VoIP services related to the Nexxis division in which we have invested $488,438 which impacted our core profitability by $(133,282).
Cost of Sales for the year ended December 31, 2020 was $5,425,205, an increase of $678,904 or 14%, from $4,746,031 for the year ended December 31, 2019. The increase in cost of sales was primarily attributable to improvements and expenses associated with the data centers for infrastructure and disaster recovery cloud services, including new IBM systems, storage and network equipment for the Raleigh, NC expansion and new Da
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Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on DTST's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.