Data Storage Corp (DTST) Q3 2024 Earnings Call Highlights: Strategic Growth Amid Revenue Challenges [Yahoo! Finance]
Data Storage Corporation (DTST)
NASDAQ:AMEX Investor Relations:
datastoragecorp.com/about-us/investor-relations
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Source: Yahoo! Finance
Data Storage Corp ( NASDAQ:DTST ) achieved a gross profit margin of 43.2% in Q3 2024, up from 38.9% in the same period last year. The company expanded its presence into high-growth, highly regulated sectors, securing significant contracts in the insurance, healthcare, and education sectors. DTST's Cloud First subsidiary achieved $5.5 million in revenue for the third quarter and positive net income, with a projected recurring revenue of over $20 million for 2025. The company has a strong financial position with $11.9 million in cash and marketable securities and no long-term debt. DTST has a high client renewal rate of over 90%, indicating strong customer satisfaction and retention. Total revenue for Q3 2024 was $5.8 million, a decrease of 3% compared to the same period last year. The decrease in revenue is attributed to lower one-time equipment and software sales and a decrease in managed services. Selling, general, and administrative expenses increased by 10% for the t
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DTST
News
- Data Storage Corp (DTST): The Cloud Innovator Poised for Explosive Growth [Yahoo! Finance]Yahoo! Finance
- Data Storage Corporation’s CloudFirst Subsidiary Enters Strategic Partnership with Brightsolid for Expanded IBM Cloud Solutions in ScotlandGlobeNewswire
- Data Storage Corporation's Subsidiary CloudFirst Announces Global Expansion Strategy [Yahoo! Finance]Yahoo! Finance
- Data Storage Corporation’s Subsidiary CloudFirst Announces Global Expansion StrategyGlobeNewswire
- Data Storage Corporation Reports 2024 Third Quarter Financial Results and Provides Business UpdateGlobeNewswire
DTST
Sec Filings
- 11/14/24 - Form 10-Q
- 11/14/24 - Form 8-K
- 9/16/24 - Form 8-K
- DTST's page on the SEC website