Welcome to our dedicated page for Data Storage news (Ticker: DTST), a resource for investors and traders seeking the latest updates and insights on Data Storage stock.
Data Storage Corporation (DTST) is a leading provider of cloud storage and cloud computing services, specializing in data protection, disaster recovery, and business continuity solutions. Established in 2001, the company helps organizations safeguard their data, reduce downtime, ensure regulatory compliance, and achieve swift system recovery. DTST caters to the growing business continuity market, offering clients enhanced data security, control, and accessibility. Its comprehensive solutions encompass data backup, storage, replication, high availability data replication services, email archive, compliance solutions, continuous data protection, data de-duplication, virtualized system recovery, and telecom recovery services.
With a focus on cybersecurity, compliance, and cloud computing, Data Storage Corporation operates through Nexxis Inc, Flagship Solutions, LLC, CloudFirst Technologies Corporation, and Corporate segments. The company's revenue primarily stems from CloudFirst Technologies Corporation. DTST's portfolio includes infrastructure, disaster recovery, email archival, compliance, electronic vaulting, virtualized recovery, telecom recovery services, and continuous data protection. As a key player in the cloud industry, DTST serves a diverse clientele, including Fortune 500 companies across various sectors such as government, education, and healthcare.
Data Storage (Nasdaq: DTST), a provider of diverse business continuity solutions, announced its participation in the MicroCap Rodeo Fall Conference on October 16th, 2024, in New York City. CEO Chuck Piluso and CFO Chris Panagiotakos are scheduled to present at 10:00 a.m. ET.
The presentation will be webcast live and available for replay at a specific URL and on the company's investor relations website. Management will also host 1x1 meetings with approved investors throughout the conference. Interested parties can find information and registration details for the conference on the MicroCap Rodeo website.
Data Storage (Nasdaq: DTST) announced that its subsidiary, CloudFirst, has secured an expanded agreement through its infrastructure partner, servicing a billion-dollar insurance company. The client, already using DSC's security services for their IBMi system, has now opted to enhance their disaster recovery capabilities by moving to a fully managed hosted target system.
The expanded agreement includes cloud backup, backup management, and replication management services. This solution allows the client to avoid the cost of acquiring new hardware while benefiting from DSC's fully managed services, ensuring continuous monitoring, backup, and support for maximum uptime and security.
Hal Schwartz, President of CloudFirst, emphasized the company's role as a trusted partner for sensitive data. Chuck Piluso, CEO of Data Storage , highlighted the collaboration with infrastructure partners to create seamless solutions, particularly utilizing DSC's IBM Power Cloud expertise.
Data Storage (Nasdaq: DTST) announced that its subsidiary, CloudFirst, has signed a new hosting agreement with a nationally ranked academic medical center through one of its cloud infrastructure partners. The agreement involves providing a fully managed IBM cloud-based service for the medical center's servers, including system monitoring, data protection, and recovery. This collaboration highlights DSC's expertise in delivering secure and tailored cloud solutions for healthcare institutions.
Hal Schwartz, President of CloudFirst, emphasized that their solution allows the medical center to focus on patient care and research while avoiding the cost and complexity of managing hardware. Chuck Piluso, CEO of Data Storage , stated that this partnership reflects their commitment to providing secure, flexible, and customized cloud solutions for the healthcare industry.
Data Storage (Nasdaq: DTST) has secured a six-figure contract with one of the world's largest educational music publishers. The client needed to upgrade their hosting capabilities and relocate due to the planned closure of their existing data center. CloudFirst, a subsidiary of Data Storage , was chosen to provide a seamless, secure, and scalable cloud platform designed to enhance performance and meet the client's technical requirements.
The contract highlights DTST's expertise in migrating on-premises servers to a cloud environment and deep knowledge of IBMi cloud hosting. This agreement further solidifies the Company's reputation as a trusted provider of specialized cloud hosting services and demonstrates its commitment to delivering innovative cloud solutions for businesses.
Data Storage (DTST) reported financial results for Q2 2024, highlighting increased gross profit margin and profitability achievement for H1 2024. Key points include:
- Revenue of $4.9 million in Q2 2024, down from Q2 2023 due to one-time equipment sales
- Gross profit margin increased to 49.0%, up 500 basis points from 43.7% in Q2 2023
- Achieved profitability for the six months ended June 30, 2024
- $13.1 million in sales for H1 2024
- Expanded into the UK with a new London office
- Deployed assets to a seventh data center in Chicago
- Maintained a strong balance sheet with $12 million in cash and marketable securities
CEO Chuck Piluso attributed the positive results to strategic growth efforts, including consolidations and expansions to support anticipated future growth.
Data Storage (Nasdaq: DTST) has announced a conference call scheduled for August 14, 2024, at 11:00 a.m. Eastern Time. The call will discuss the company's financial results for the second quarter of 2024, which ended on June 30, 2024, along with corporate progress and other developments. Investors can access the call via telephone or webcast. A replay of the webcast will be available on the company's website until August 14, 2025, while a telephone replay will be accessible until August 21, 2024. This update provides an opportunity for stakeholders to gain insights into DTST's performance and future outlook in the business continuity, disaster-recovery, cloud infrastructure, cyber-security, and IT automation sectors.
Data Storage 's subsidiary, CloudFirst, has expanded its contract with a major promotional products supplier. The new seven-figure contract follows CloudFirst's successful implementation of a comprehensive disaster recovery solution for the client in 2023. The expanded agreement includes migrating critical production systems to CloudFirst's Chicago data center, providing a fully monitored and managed private cloud infrastructure. This development showcases CloudFirst's growing market presence and ability to deliver high-value solutions. The contract expansion highlights the importance of geographically diverse data centers in meeting client needs for business continuity and cloud infrastructure services.
Data Storage (Nasdaq: DTST) announced the deployment of its seventh data center in Chicago, Illinois through its subsidiary, CloudFirst, on June 24, 2024. This strategic move aims to address the increasing demand for the company's disaster recovery, cloud infrastructure, cybersecurity, and IT automation services in the Midwest region. The new facility is designed to meet the highest standards of reliability and performance, enhancing geographic coverage and customer support. CEO Chuck Piluso highlighted that this expansion demonstrates the company's commitment to providing exceptional services and flexibility for current and future customers.
Data Storage (Nasdaq: DTST) announced the expansion of its contract with a leading global business process solutions provider. The six-figure deal, secured through its CloudFirst subsidiary, includes managed encrypted backup and recovery services alongside existing infrastructure solutions. CEO Chuck Piluso highlighted the agreement as a testament to DSC's ability to meet customer needs and capitalize on cross-selling opportunities from subsidiary consolidations.
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.
FAQ
What is the current stock price of Data Storage (DTST)?
What is the market cap of Data Storage (DTST)?
When was Data Storage Corporation established?
What are the core services offered by DTST?
Which market does Data Storage Corporation primarily serve?
What are some of the key solutions provided by DTST?
What segments does Data Storage Corporation operate through?
Which segment generates the highest revenue for DTST?
What industries does Data Storage Corporation cater to?
What is the focus of Data Storage Corporation's services?
Where can I find more information about Data Storage Corporation?
How can I access the latest news and updates from DTST?
