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    Home » Data storage corp director Thomas Kempster sells shares for $6,738 By Investing.com
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    Data storage corp director Thomas Kempster sells shares for $6,738 By Investing.com

    userBy userJanuary 6, 2025No Comments2 Mins Read
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    This sale was conducted to satisfy tax withholding obligations, as noted in the filing. Following the transaction, Kempster retains ownership of 829,583 shares in the company. The micro-cap company, valued at $35 million, maintains strong financial health with a current ratio of 4.8x and positive earnings. InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report for deeper insights into DTST’s valuation and growth prospects. The micro-cap company, valued at $35 million, maintains strong financial health with a current ratio of 4.8x and positive earnings. InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report for deeper insights into DTST’s valuation and growth prospects. This sale was conducted to satisfy tax withholding obligations, as noted in the filing. Following the transaction, Kempster retains ownership of 829,583 shares in the company.

    In other recent news, Data Storage Corporation reported a minor dip in third-quarter revenues for fiscal year 2024, with revenues totaling $5.8 million, a 3% decrease year-over-year, primarily attributed to a fall in one-time equipment sales. However, the company experienced growth in recurring subscription revenue and a rise in the gross profit margin to 43.2%, up from 38.9% in the previous year. Despite the decline in revenue, the company secured significant contracts in the insurance, healthcare, and education sectors, and is planning to expand in the U.K.

    The company’s CloudFirst subsidiary is projected to generate over $20 million in recurring revenue for 2025. Data Storage Corporation ended Q3 with $11.9 million in cash and marketable securities, with no long-term debt. The company also reported a 29% increase in infrastructure and disaster recovery cloud services.

    The management team maintains an optimistic view on growth and profitability, with service renewals for 2025 expected to exceed $20 million. The company’s CEO, Chuck Piluso, emphasized the migration of 95-96% of sticky customers to cloud subscriptions, indicating a strategic shift towards building a more stable revenue stream. These are among the recent developments for Data Storage Corporation.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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