Data Storage Corporation reported its financial results for the fiscal year ended December 31, 2024, on March 31, 2025. Total revenue for the year increased to $25.4 million, a 2% gain from 2023, reflecting a strategic shift from lower-margin equipment sales towards long-term, recurring subscription revenue streams.
The company achieved an estimated $22 million Annual Recurring Revenue (ARR) run rate, with over 80% of its revenue recurring, and reported $39.2 million in remaining contract value for disaster recovery and cloud hosting solutions. Net income rose approximately 71% to $513 thousand, while Adjusted EBITDA increased to $2.37 million, indicating improved margins and operational efficiency.
In 2024, DTST expanded its global footprint by launching CloudFirst Europe Ltd., supported by three Tier III data centers in the UK through strategic partnerships, and appointed Colin Freeman as Managing Director for European operations. Domestically, a new Tier III data center was added in Chicago, bringing the total to ten global sites. The company also completed the full integration of its Flagship Solutions Group subsidiary into CloudFirst Technologies and secured new contracts with a Canadian motorsports manufacturer, a billion-dollar insurance provider, and a U.S. medical center.
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