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Data Storage Corporation reports operating updates for a Nasdaq-listed technology services company whose continuing business is centered on Nexxis Inc., which provides VoIP/unified communications and dedicated internet connectivity. News releases recurring cover financial results, business update calls, and corporate progress following the completed CloudFirst divestiture and a completed issuer tender offer.
Company updates also address capital allocation, strategic advisory appointments, executive compensation with equity awards, warrant matters, and a strategy focused on recurring-revenue technology services, including cybersecurity, AI-enabled software, GPU infrastructure, and telecommunications offerings.
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Data Storage Corporation (Nasdaq: DTST) announced that CEO Chuck Piluso will participate in the Benzinga All Access event on April 20, 2023, at 11:00 AM Eastern Time. This event, which can be viewed live here, blends interviews with investor presentations, showcasing insights from executives across various sectors. Data Storage Corporation specializes in business continuity solutions, including disaster recovery, cloud infrastructure, and cybersecurity services, catering to a diverse clientele from industries like government, education, and healthcare. The company is recognized as a leader in the growing business continuity market, leveraging subscriptions to ensure stable revenue streams. For more details, visit their official website here.
Data Storage Corporation (Nasdaq: DTST) reported a robust financial performance for the year ended December 31, 2022, achieving a 60% increase in revenue to $23.9 million. The CloudFirst subsidiary generated $11.5 million in revenue with a 27% EBITDA margin and $1.9 million in net income. CEO Chuck Piluso emphasized strategic initiatives aimed at growth, focusing on recurring revenue streams and cybersecurity services. The company maintains a strong balance sheet with $11.3 million in cash and short-term investments, positioning itself as a market leader in cloud-based solutions. A conference call is scheduled for March 31, 2023, to discuss these results further.
Data Storage Corporation (Nasdaq: DTST) announced plans to host a conference call on March 31, 2023, at 10:00 am ET to discuss its financial results for the fiscal year ending December 31, 2022. Investors can join the call by dial-in or via a webcast available on the company's website. Additionally, a replay will be accessible through March 31, 2024. Data Storage Corporation specializes in business continuity solutions, cyber-security, and cloud infrastructure services for a diverse clientele, including Fortune 500 companies across various sectors like government and healthcare. Further details can be found at www.dtst.com.
Data Storage Corporation (NASDAQ:DTST) will present at the MicroCap Rodeo's Third Annual Winter Wonderland Best Ideas Virtual Investor Conference from February 21-24, 2023. CEO Chuck Piluso is scheduled to speak on February 22, 2023, at 10:30 a.m. ET. The presentation will be available for live webcast and replay. Piluso will also hold one-on-one meetings with qualified investors during the event. This conference features the top 37 companies recommended by institutional investors as their best ideas, focusing on the multi-billion-dollar business continuity market.
For more details, please visit www.dtst.com.
Data Storage Corporation (Nasdaq: DTST) reported strong financial results for Q3 2022, with revenues rising 14% year-over-year to $4.4 million. Year-to-date revenue reached $17.9 million, an 80% increase compared to the same period in 2021. The company continues to expand its multi-cloud IT solutions and is focused on securing high-margin, subscription-based contracts. With over $11 million in cash, DSC is well-positioned to invest in growth and improve profitability, aided by operational streamlining and management realignment.