Data Storage Corporation ( (DTST) ) has released its Q4 earnings. Here is a breakdown of the information Data Storage Corporation presented to its investors.
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Data Storage Corporation (DSC) is a prominent provider of multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, and IT automation solutions, operating primarily in the cloud infrastructure sector with a focus on seamless data migration and operational continuity.
In its 2024 fiscal year report, Data Storage Corporation highlighted significant financial and strategic advancements, including a notable increase in net income and the expansion of its CloudFirst platform with new data centers in the UK and Chicago. These developments underscore the company’s commitment to enhancing its multi-cloud and continuity services across North America and Europe.
Key financial metrics from the report reveal a 71% increase in net income compared to the previous year, reaching $513,000, and an Adjusted EBITDA of $2.37 million. The company also reported a modest 2% revenue increase to $25.4 million, reflecting a strategic shift towards long-term, recurring subscription revenue streams. With $12.3 million in cash and marketable securities and no long-term debt, DSC is well-positioned for future growth.
Strategically, DSC expanded its international presence by launching CloudFirst Europe Ltd. and integrating the Flagship Solutions Group into its CloudFirst Technologies subsidiary, enhancing operational efficiency and cross-selling potential. The company secured major contracts in sectors such as motorsports, insurance, and healthcare, further solidifying its market position.
Looking ahead, Data Storage Corporation remains optimistic about its growth prospects, driven by its strategic shift to a high-margin, recurring revenue model and its strengthened infrastructure. The company is poised to scale further in 2025 and beyond, capitalizing on the rising global demand for compliant, enterprise-grade cloud solutions.