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Data Storage (Nasdaq: DTST) reported a 20% increase in revenue for Q1 2024, reaching $8.2 million. The company's gross profit grew by 42%, with margins improving to 36% from last year's 30%. CEO Chuck Piluso attributed this growth to new high-profile contracts and streamlined operations. The company achieved profitability for the quarter and consolidated its CloudFirst and Flagship subsidiaries to optimize operations and leverage technical teams. DSC also expanded its international presence by opening a London office and moving to a larger headquarters in Melville, NY. The company reported a strong balance sheet with $11.9 million in cash and marketable securities.
Data Storage (Nasdaq: DTST) announced the opening of a CloudFirst London office, solidifying its international presence. The move aims to serve a global clientele by expanding into the UK market and fostering partnerships with Kanso Digital. Led by Salvatore Esposito, the strategic relationship will enhance CloudFirst's growth in the UK, capitalizing on the market's interest in Power Cloud solutions.
Data Storage (Nasdaq: DTST) has scheduled a conference call to discuss its first quarter 2024 financial results. The call will cover corporate progress, developments, and will be available via telephone or webcast. The Company offers business continuity solutions for disaster recovery, cloud infrastructure, cybersecurity, and IT services.
