Data Storage reports FY24 EPS 7c vs 5c last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 31 2025
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Financial Performance: Data Storage Corporation reported a FY24 revenue of $25.37 million, a 2% increase from the previous year, with a significant shift towards recurring subscription revenue, which now constitutes over 80% of total revenue.
Operational Efficiency: The company achieved a net income rise of approximately 71% to $513 thousand and an Adjusted EBITDA of $2.37 million, while maintaining a strong cash position of $12.3 million and no long-term debt, positioning itself well for future growth.
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About DTST
Data Storage Corporation focuses on investing in and supporting businesses in graphics processing unit (GPU) Infrastructure-as-a-Service (IaaS), artificial intelligence (AI)-driven software applications, cybersecurity, and voice/data telecommunications. The Company, through its subsidiary, Nexxis Inc., provides single-source solutions that deliver fully managed cloud-based voice over internet services (VoIP), data transport, Internet access, and SD-WAN solutions focused on business continuity for the modern business environment. It also provides Hosted VoIP solutions with equipment options for IP phones and Internet speeds of up to 10Gb delivered over fiber optics.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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