Data Storage - DTSTW STOCK NEWS

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.

Data Storage (DTST) reports record revenue of $25.0 million for the 2023 fiscal year, with a 17% increase in recurring subscription-based services. Gross profit grew 18.5%, and gross profit margin increased to 38.4%. The company achieved profitability in 2023 and anticipates further growth in revenue, margins, and profitability in 2024. Strong contract momentum, new client acquisitions, expanded relationships with existing clients, and effective sales and marketing programs are driving growth. The company aims to boost revenue through growth strategies like CloudFirst and Flagship merger, expanding distribution channels, enhancing digital marketing, and exploring M&A prospects. With a strong balance of $12.7 million in cash and marketable securities, DTST is well-positioned to capitalize on market opportunities in disaster-recovery, cloud infrastructure, cyber-security, and IT sectors.

Data Storage (DTST) announces new headquarters in Melville, New York, expanding by 40% to support growth initiatives in disaster-recovery, cloud infrastructure, cyber-security, and IT services.

Data Storage (DTST) announces CloudFirst Solutions subsidiary selected by a major US insurance company for cloud migration project. The company will provide hosting, managed services, and advanced security solutions, showcasing expertise in cloud services and security.

Data Storage Corporation (DTST) to host conference call to discuss 2023 financial results and corporate progress.

Data Storage Corporation (DTST) appoints Nancy M. Stallone and Uwayne A. Mitchell to its Board of Directors, aiming to leverage their expertise in finance, auditing, legal, data privacy, and cybersecurity for strategic growth and governance.

Data Storage Corporation (DTST) has secured a six-figure contract with a multinational telecommunications company to replace and maintain its old tape library with new advanced backup technology. The company has had a long-term successful relationship with the multinational corporation for over twelve years and this new contract expands on the current solutions provided by Data Storage Corporation. The CEO, Thomas Kempster, expressed pride in the established relationship and highlighted the implementation of a new backup solution with advanced technology to increase storage capacity and meet compliance requirements in multiple countries.

Data Storage Corporation (DTST) has appointed Clifford Stein, an experienced entrepreneur and attorney, to its Board of Directors. Mr. Stein is the CEO of Savitar Realty Advisors and brings extensive legal knowledge and real estate expertise to the company. His unique skillset is expected to guide the company's growth, both organically and through acquisitions.

Data Storage Corporation (Nasdaq: DTST) has announced the merger of its two subsidiaries, Flagship Solutions Group and CloudFirst, aiming to streamline operations, improve economies of scale, and enhance resource allocation. The move is expected to bring together complementary strengths and expertise, enabling the company to grow its technical teams, achieve further economies of scale, and enhance resource allocation internally. The merger also aims to capitalize on cross-selling and upselling opportunities across customer bases and increase customer penetration, resulting in improved business efficiencies and reduced redundant resources and expenses.