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, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________to____________________________ Commission File No. 000-35384 DATA STORAGE CORPORATION (Exact name of registrant as specified in its charter) | Nevad ...

EXHIBIT 99.1 Data Storage Corporation Reports 20% Increase in Revenue and Again Achieves Profitability for the 2024 First Quarter MELVILLE, N.Y., May 15, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) ("DSC" and the "Company"), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three months ended March 31, 2024. Chuck Piluso, CEO of Data Stor ...

MELVILLE, N.Y., May 15, 2024 (GLOBE NEWSWIRE) -- Data Storage Corporation (NASDAQ:DTST) ("DSC" and the "Company"), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today provided a business update and reported financial results for the three months ended March 31, 2024. Chuck Piluso, CEO of Data Storage Corporation, stated, "We continue to execute on our business growth strategy, including new contracts with high profile client ...

MELVILLE, N.Y., May 13, 2024 (GLOBE NEWSWIRE) -- Data Storage Corporation (NASDAQ:DTST) ("DSC" and the "Company"), a provider of diverse business continuity solutions for disaster recovery, cloud infrastructure, cyber-security, and IT services, today announced the expansion of its CloudFirst subsidiary into the United Kingdom (UK) with the opening of its London office. This strategic expansion marks a significant milestone in the Company's strategy to serve a global clientele and further CloudFirst's presen ...

MELVILLE, N.Y., May 03, 2024 (GLOBE NEWSWIRE) -- Data Storage Corporation (NASDAQ:DTST) ("DSC" and the "Company"), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT services, today announced that it plans to host a conference call at 11:00 a.m. Eastern Time on Wednesday, May 15, 2024, to discuss the Company's financial results for the first quarter of 2024 which ended March 31, 2024, as well as corporate progress and other developments. T ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________to____________________________ Commission File No. 000-54579 DATA STORAGE CORPORATION (Exact name of registrant as specified in its charter) Nevada 98-0530147 (State ...

Data Storage Corporation (NASDAQ:DTST) Q4 2023 Earnings Conference Call March 28, 2024 11:00 AM ET Company Participants David Waldman - IR Charles Piluso - Chairman & CEO Chris Panagiotakos - CFO Hal Schwartz - President, CloudFirst Conference Call Participants Matthew Galinko - Maxim Group Operator Greetings. Welcome to Data Storage Corporation 2023 Fiscal Year Business Update Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presenta ...

Financial Performance - Data Storage Corporation reported record revenue of $25 million for the fiscal year 2023, an increase from $23.87 million in 2022, representing a growth of approximately 4.7%[3] - The company's recurring subscription-based services increased by 17% compared to the previous year, contributing to a gross profit growth of 18.5%[3] - Gross profit margin improved to 38.4% in 2023 from 33.9% in 2022, indicating effective strategic initiatives[3] - The company achieved net income of $299,316 for 2023, a significant turnaround from a net loss of $4.41 million in 2022[13] - Net income for 2023 was $299,316, a significant improvement from a net loss of $4,408,863 in 2022[15] Financial Position - Cash and marketable securities totaled over $12.7 million as of December 31, 2023, reflecting a strong balance sheet[3] - Total assets decreased to $23.3 million in 2023 from $24.1 million in 2022, primarily due to changes in current assets[11] - Total liabilities reduced to $3.55 million in 2023 from $5.14 million in 2022, indicating improved financial health[11] - Cash and cash equivalents at the end of the period decreased to $1,428,730 from $2,286,722 in 2022, showing a reduction in liquidity[15] Operational Performance - Net cash provided by operating activities increased to $3,873,047 from $663,801 in the previous year, reflecting a strong operational performance[15] - Capital expenditures rose to $(1,545,017) in 2023, compared to $(127,257) in 2022, indicating increased investment in growth[15] - Cash paid for interest decreased to $65,057 from $127,871, suggesting improved interest management[15] - Accounts receivable increased significantly to $2,242,864 from $(1,118,469), indicating a change in credit terms or sales growth[15] Strategic Initiatives - The company plans to advance growth strategies, including the CloudFirst and Flagship merger, to enhance revenue and profitability[3] - Data Storage Corporation is positioned to capitalize on the growing multibillion-dollar market opportunities in disaster recovery, cloud infrastructure, and cybersecurity[3] - The company anticipates continued improvement in margins and overall profitability in 2024 and beyond as revenue grows[3] Investment Activities - Net cash used in investing activities decreased to $(3,852,245) from $(9,138,225), reflecting a reduction in investment outflows[15] - The company received $1,699 from the exercise of stock options, down from $6,934 in the previous year, indicating lower stock option activity[15] - Total liabilities related to finance lease obligations decreased, with repayments of $(520,624) and $(359,869) for related and non-related parties respectively[15] Goodwill and Impairment - The company reported no impairment of goodwill in 2023, a notable recovery from $2,322,000 in 2022[15]