Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
This sale was made to satisfy the obligation of withholding tax, as mentioned in the file. Following the transaction, Kempster retains ownership of 829,583 shares in the company. The micro-cap company, valued at $35 million, maintains healthy financial health with a current ratio of 4.8x and good earnings. InvestingPro subscribers can access 12 additional tips and a full Pro Research Report for in-depth information on DTST’s value and growth prospects. The micro-cap company, valued at $35 million, maintains healthy financial health with a current ratio of 4.8x and good earnings. InvestingPro subscribers can access 12 additional tips and a full Pro Research Report for in-depth information on DTST’s value and growth prospects. This sale was made to satisfy the obligation of withholding tax, as mentioned in the file. Following the transaction, Kempster retains ownership of 829,583 shares in the company.
In other recent news, Data Storage Corporation reported a slight decrease in third-quarter revenue for fiscal year 2024, with revenue of about $5.8 million, a 3% year-over-year decrease, which largely due to a fall in concurrent device sales. However, the company experienced growth in recurring revenue and a rise in gross profit to 43.2%, from 38.9% last year. Despite the drop in revenue, the company won important contracts in the insurance, healthcare and education sectors, and plans to expand in the UK.
The company’s CloudFirst organization is scheduled to generate more than $ 20 million in continuous revenue for 2025. Data Storage Corporation ended Q3 with $ 11.9 million in cash and securities sold, excluding long-term debt . The company also reported a 29% increase in infrastructure services and disaster cloud services.
The management team maintains an optimistic outlook on growth and profitability, with 2025 facility improvements expected to exceed $20 million. The CEO of the company, Chuck Piluso, stressed the migration of 95-96% of customers who stick to cloud subscriptions, which indicates a change in strategy to build a more stable income. These are some of the latest developments of Data Storage Corporation.
This article was created with the support of AI and reviewed by the editor. For more details, see our T&C.
