Following the meteoric rise of AI stocks in 2023, investors are searching for the next big winners in this space. While the leaders from last year may continue to appreciate, their days of 10x returns are likely behind them. Thus, for those in pursuit of life-changing wealth, we must look to the upstarts. You know, those little-known companies on the cutting edge of AI innovation.I’ll share three AI penny stock picks that I believe have the potential to deliver outsized returns in 2024. These are early-stag ...

Financial Data and Key Metrics Changes - The company reported a 35% increase in revenue to approximately $6 million for Q3 2023, compared to $4.4 million in Q3 2022 [12][33] - Net income for Q3 2023 was approximately $158,000, a significant improvement from a net loss of $246,000 in Q3 2022 [12][36] - Adjusted EBITDA for Q3 2023 was $487,000, up from $162,000 in the same period last year [36] - Cash and marketable securities at the end of Q3 2023 were approximately $11.5 million, slightly up from $11.3 million at the end of 2022 [36][32] Business Line Data and Key Metrics Changes - CloudFirst generated $3.7 million in revenue for Q3 2023 with a net income of over $800,000 and $1.1 million in EBITDA [18] - Equipment and software revenue reached approximately $2 million in Q3 2023, nearly doubling from approximately $1 million in Q3 2022 [18] Market Data and Key Metrics Changes - The company has seen a significant increase in website visitors, with over 60,000 visitors reported by the end of August 2023, translating to a strong lead generation [44] - The total contract value in the CloudFirst pipeline is well above $10 million [45] Company Strategy and Development Direction - The company is focused on integrating Flagship and CloudFirst to leverage their combined strengths and enhance service offerings [20][59] - Plans for international expansion are underway, particularly targeting the U.K. market by reaching out to over 1,000 managed service providers [21][62] - A strategic sales and marketing initiative has been launched to capitalize on growing demand for products and services [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing business growth initiatives and the positive outlook for the company [5][12] - There is a growing demand for cybersecurity solutions, driven by increasing awareness of disaster recovery needs among companies [69][71] Other Important Information - The company maintains a 94% renewal rate on contracts with an average term of 24 months, indicating strong client retention [29] - The company is actively exploring potential strategic acquisitions to support growth and improve operations [30] Q&A Session Summary Question: Inquiry about new business pipeline and backlog metrics - Management reported over 60,000 inbound inquiries by the end of August 2023, with a current pipeline value exceeding $10 million [42][45] Question: Potential synergies from integrating Flagship and CloudFirst - Management highlighted the benefits of combining technical expertise and sales teams to enhance cross-selling opportunities [58][59] Question: U.K. strategy for building partnerships - The company is reaching out to managed service providers in the U.K. to establish partnerships and create distribution channels [62] Question: Importance of the nurture list in the sales strategy - The nurture list is part of an authority-based marketing strategy aimed at engaging potential clients early in the buying cycle [66] Question: Impact of increasing ransomware cases on market demand - Management noted a growing demand for disaster recovery services as many companies lack a holistic approach to security [69][71]

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 001-35384 DATA STORAGE CORPORATION (Exact name of registrant as specified in its charter) | Nevada | 98-0530147 | ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2023 was $5.9 million, an increase of 22% compared to $4.8 million in Q2 2022 [28][56] - Net income attributable to common shareholders for Q2 2023 was $227,000, compared to a net loss of $1.1 million in Q2 2022 [37] - Adjusted EBITDA for Q2 2023 was $530,000, compared to an adjusted EBITDA loss of $259,000 for the same period last year [57] Business Line Data and Key Metrics Changes - The equipment and software group generated $2.4 million in Q2 2023, up from $1.9 million in Q2 2022 [8] - CloudFirst achieved $3.2 million in revenue for Q2 2023, with net income over $550,000 and EBITDA of $800,000, representing a 25% margin [8] Market Data and Key Metrics Changes - The company reported over 45,000 visitors to its websites year-to-date, indicating growing market interest [9] - The total contract value and proposals to potential clients exceeded $9 million [9] Company Strategy and Development Direction - The company aims to increase gross profit margins on subscription revenue within its Flagship business unit, targeting a margin closer to 50% [8] - Strategic initiatives include expanding distribution channels, enhancing digital marketing, and exploring M&A opportunities to drive growth [29] - The company is focused on securing high-margin subscription-based contracts and expanding its geographic footprint [30][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term sustainable profitability and anticipates realizing full benefits from business initiatives over time [28][77] - The company is witnessing an acceleration in the migration of customers to IBM systems, which is expected to enhance growth opportunities [60] Other Important Information - Selling and general administrative expenses for Q2 2023 were $2.5 million, a decrease of 5% compared to $2.6 million in Q2 2022 [17] - Cash and short-term investments at the end of Q2 2023 were approximately $10.7 million, down from $11.3 million at the end of 2022 [18] Q&A Session Summary Question: What is the composition of the $9 million pipeline? - The $9 million pipeline includes proposals from companies that have engaged with the technical and sales teams, with larger deals typically excluded or adjusted for probability [22][40] Question: How is the company categorizing spending on go-to-market initiatives? - SG&A expenses can fluctuate due to equipment sales commissions and stock compensation, which can cause temporary increases [43] Question: How does the new business pipeline compare to previous periods? - The company reported a significant increase in inbound inquiries, with 45,000 year-to-date, compared to 6,000 in the previous year [46][47] Question: What is the status of executed contracts and their implementation? - Approximately $160,000 in monthly recurring revenue is currently being installed, but timing for full implementation is uncertain due to client dependencies [71]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATA STORAGE CORPORATION (Exact name of registrant as specified in its charter) | Nevada | 98-0530147 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organizat ...

Financial Data and Key Metrics Changes - Net income attributable to common shareholders for Q1 2023 was $50,666, a decrease from $156,010 in Q1 2022 [7] - Total revenue for Q1 2023 was $6.9 million, down by $1.8 million or 21% compared to $8.7 million in Q1 2022, primarily due to a decrease in equipment sales [20] - Selling, general and administrative expenses decreased by 13% from $2.5 million in Q1 2022 to $2.1 million in Q1 2023 [25][31] - Adjusted EBITDA for Q1 2023 was $334,000, down from $604,492 in the same period last year [31] Business Line Data and Key Metrics Changes - The company reported a 14% increase in revenues when excluding a $2.6 million equipment sale to an NFL team in Q1 2022 [29] - Executed subscription revenue contracts totaled over $5.5 million in total contract value [18] - The company is focusing on increasing gross profit margins in recurring services closer to 50% [12] Market Data and Key Metrics Changes - The global addressable market for the company's solutions is estimated at roughly $36 billion in annual recurring revenue, with an average contract term of about 29 months and a 94% renewal rate [30] - CloudFirst had over 16,000 website visitors from the beginning of the year through April, indicating strong interest in its services [13] Company Strategy and Development Direction - The company aims to achieve a $50 million high-margin revenue run rate in the coming years through strong organic growth and strategic acquisitions [24] - The focus is on recurring revenue through long-term subscription-based contracts, which provide high-margin revenue streams [5] - The company is actively exploring synergistic acquisitions to enhance operations and improve gross profit margins [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to leverage its established customer base and proven track record to drive growth [6] - The company is positioned as a leader in a market with limited competition and is focused on efficiently deploying capital for measurable returns [18] - Management highlighted the importance of maintaining a solid balance sheet and reducing redundant expenses to support sustainable profitability [64] Other Important Information - The company ended Q1 2023 with approximately $11 million in cash and short-term investments, compared to $11.3 million at the end of Q4 2022 [7] - The company is looking to expand its international footprint through strategic partnerships and acquisitions [19] Q&A Session Summary Question: Can you provide details on the Fortune 2000 deal announced recently? - The deal was a software sale valued at $2.2 million, expanding from a previous $1.9 million contract [51][52] Question: What is the status of the sales team expansion? - The company has hired two new sales representatives and is actively recruiting more qualified candidates [34] Question: Can you discuss the M&A pipeline and potential targets? - The company is focusing on acquiring managed service providers with revenues over $15 million and is looking internationally for growth opportunities [35][37] Question: What is the current state of the new business pipeline and close rates? - The total contract value in the pipeline exceeds $12 million, with close rates estimated at around 80% for Flagship and approximately 23% for CloudFirst [55][61]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Registrant's telephone number, including area code: (212) 564-4922 Securities registered pursuant to Section 12(b) of the Act: None | Title of ...

Data Storage Corporation (NASDAQ:DTST) Q4 2022 Results Conference Call March 31, 2023 10:00 AM ET Company Participants Chuck Piluso - Chairman and Chief Executive Officer Chris Panagiotakos - Chief Financial Officer Conference Call Participants Matthew Galinko - Maxim Group Adam Waldo - Lismore Partners Operator Greetings and welcome to the Data Storage Corporation 2022 Fiscal Year Business Update Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will f ...

Data Storage Corporation (NASDAQ:DTST) Q3 2022 Earnings Conference Call November 15, 2022 10:00 AM ET Company Participants Chuck Piluso - Chairman and CEO Chris Panagiotakos - CFO Conference Call Participants Matthew Galinko - Maxim Group Operator Good day, ladies and gentlemen, and welcome to the Data Storage Corporation Third Quarter 2022 Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, [indiscernible]. Ma'am, the floor is yours. Unidentified Company Repr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-35384 DATA STORAGE CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |- ...