Data Storage (US:DTST) Newsfilterยท2025-03-31 12:30Core Viewpoint - Data Storage Corporation (DSC) reported a modest revenue increase of 2% in 2024, transitioning towards a recurring subscription revenue model, which now constitutes over 80% of its revenue [2][5]. Financial Performance - Total revenue for 2024 reached $25.4 million, up from $24.9 million in 2023 [15]. - Net income rose approximately 71% to $513 thousand, compared to $299 thousand in 2023 [15][17]. - Adjusted EBITDA increased to $2.37 million, indicating improved margins and operational efficiency [2][11]. - The company ended 2024 with $12.3 million in cash and marketable securities and no long-term debt, positioning itself well for future growth [2][5]. Strategic Developments - DSC launched CloudFirst Europe Ltd. and established three Tier III data centers in the UK, enhancing its international presence [2][5]. - The company integrated its Flagship Solutions Group into CloudFirst Technologies, streamlining operations and improving service delivery [2][5]. - Key contracts secured in 2024 included partnerships with a major motorsports manufacturer, a billion-dollar insurance provider, and a U.S. medical center, showcasing DSC's capability in delivering compliant, high-processing infrastructure solutions [2][5]. Infrastructure Expansion - The company expanded its data center footprint to ten global sites, including a new Tier III data center in Chicago, enhancing redundancy and performance across North America [2][5]. - The CloudFirst platform was expanded with four new Tier III data centers, supporting multi-cloud and continuity services [5]. Market Position - DSC is recognized as a leader in the multi-billion-dollar cloud hosting and business continuity market, providing high-performance, scalable, and secure cloud solutions [10]. - The company serves a diverse clientele, including Fortune 500 companies, government agencies, educational institutions, and healthcare organizations [9].