Data Storage Corp

Listed Company

DTSTCIK 0001419951NasdaqNon-AcceleratedSmaller ReportingServices-Computer Processing & Data PreparationNevadaFY ends Dec 31

Period

FY 2025

Revenue

$1.38M

Net Income

$19.21M

Total Assets

$43.02M

Equity

$40.92M

Shares Out

2.17M

Op. Cash Flow

$-3.16M

Business

Data Storage Corp provides enterprise cloud and business continuity solutions, specializing in fully managed cloud hosting, disaster recovery, cybersecurity, and IT automation services. It offers cloud infrastructure (IaaS) tailored for IBM Power Systems (IBM i and AIX) and x86, disaster‑recovery‑as‑a‑service, cybersecurity and compliance services, managed IT services, migration and ongoing support, and VoIP/unified communications. The company operates through subsidiaries CloudFirst Technologies, CloudFirst Europe and Nexxis, delivering integrated cloud, DR, security and connectivity offerings. It serves customers across North America and Europe through its owned and partner Tier III data centers and distribution via direct sales, IBM business partners, MSPs and resellers.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	1	1	25	24	15
Cost of sales	768,605	691,998	15	16	8
Gross profit	614,324	527,249	10	8	6
Selling, general and administrative	4	4	10	10	7
Loss from operations	−4	−3	−168,411	−4	−767,072
Interest income	850,371	592,819	542,229	10,969	—
Loss from continuing operations before income taxes	−3	−3	299,316	−4	−139,710
(Benefit) provision for income taxes	−2	39,031	—	—	399,631
Loss from continuing operations, net of tax	−866,195	−3	—	—	—
(Loss) income from discontinued operations, net of tax	−37,518	3	—	—	—
Gain on sale of discontinued operation, net of tax	20	—	—	—	—
Income from discontinued operations, net of tax	20	3	—	—	—
Net income	19	513,072	299,316	−4	259,921
(Income) loss in non-controlling interest of consolidated subsidiary	−10,268	10,142	82,259	52,061	7,923
Net income attributable to common stockholders	19	523,214	—	−4	204,161
Loss per share from continuing operations basic	−0.12	−0.4	—	—	—
Loss per share from continuing operations diluted	−0.12	−0.4	—	—	—
Earnings per share from discontinued operations basic	2.76	0.47	—	—	—
Earnings per share from discontinued operations diluted	2.76	0.47	—	—	—
Earnings per share attributable to common stockholders basic	2.64	0.08	0.06	−0.64	0.04
Earnings per share attributable to common stockholders diluted	2.64	0.08	0.05	−0.64	0.03
Weighted average number of shares basic	7	7	7	7	5
Weighted average number of shares diluted	7	7	7	7	6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	1	1	2	12
Accounts receivable, net of allowance for expected credit losses of $648 and $767 in 2025 and 2024, respectively	34,605	59,018	1	4	2
Escrow funds receivable	2	—	—	—	—
Marketable securities	39	11	11	9	—
Prepaid expenses and other current assets	98,843	118,538	513,175	584,666	536,401
Current assets of discontinued operations	—	3	—	—	—
Total current assets	43	15	15	15	15
Property and equipment, net	16,866	6,077	8	7	7
Other long-term assets	378,682	137,077	—	—	—
Non-current assets of discontinued operations	—	10	—	—	—
Total assets	43	25	23	24	26
Accounts payable and accrued expenses	842,473	588,590	3	3	1
Payable to purchaser of discontinued operations	15,889	—	—	—	—
Income taxes payable	1	—	—	—	—
Current liabilities of discontinued operations	—	3	—	—	—
Total current liabilities	2	4	4	5	3
Deferred tax liability - non-current	312,334	39,031	0	—	—
Non-current liabilities of discontinued operations	—	523,070	—	—	—
Total long-term liabilities	312,334	562,101	37,938	609,255	748,422
Total liabilities	2	4	4	5	4
Preferred stock, par value $0.001; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and 2024	—	—	—	—	—
Common stock, par value $0.001; 250,000,000 shares authorized; 7,792,267 and 7,045,108 shares issued and outstanding at December 31, 2025 and 2024, respectively	7,793	7,045	6,881	6,822	6,694
Additional paid-in capital	41	40	39	39	38
Retained earnings (accumulated deficit)	222,111	−19	−20	−20	−16
Accumulated other comprehensive loss	−14,235	−23,214	—	—	—
Total Data Storage Corporation stockholders equity	41	21	20	19	23
Non-controlling interest in consolidated subsidiary	−236,822	−247,090	−236,948	−154,689	−102,628
Total stockholders equity	41	21	20	19	23
Total liabilities and stockholders equity	43	25	23	24	26

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loss from continuing operations, net of tax	−866,195	−3	—	—	—
Depreciation and amortization	5,235	1,623	1	1	1
Stock based compensation	1	499,000	506,205	734,479	—
Deferred taxes	273,303	39,031	—	—	—
Provision for credit losses	6,512	601	—	—	—
Accounts receivable	17,901	−29,467	2	−1	−440,517
Prepaid expenses and other assets	83,697	−24,617	71,491	−48,265	−169,355
Accounts payable and accrued expenses	238,242	618	−598,638	2	−142,233
Income taxes payable	−2	—	—	—	—
Changes in assets and liabilities of discontinued operations	−2	740,228	—	—	—
Net cash (used in) provided by operating activities	−3	2	4	663,801	−360,690
Capital expenditures	−16,024	−2,149	−2	−127,257	−455,835
Net proceeds from sale of discontinued operation	36	—	—	—	—
Purchase of marketable securities	−39	−842,810	−2	−9	—
Sale of marketable securities	11	900,000	—	—	—
Equity investment	−100,000	—	—	—	—
Cash used in investing activities of discontinued operations	−787,129	−2	—	—	—
Net cash provided by (used in) investing activities	7	−2	−4	−9	−6
Cash settlement of warrants	−2	—	—	—	—
Costs paid in connection with tender offer and other	−205,607	—	—	—	—
Proceeds from stock option exercises	957,997	133,005	1,699	6,934	—
Cash used in financing activities of discontinued operations	−51,520	−485,962	—	—	—
Net cash used in financing activities	−1	−352,957	−878,794	−1	18
Effect of exchange rates on cash	9,950	−2,591	—	—	—
Increase (decrease) in cash and cash equivalents	2	−358,633	−857,992	—	—
Cash and cash equivalents	2	1	—	—	—
Escrow funds receivable	2	—	—	—	—
Cash, cash equivalents, and restricted cash	3	1	—	—	—
Cash paid for interest	—	23,549	65,057	127,871	116,682
Cash paid for income taxes	4	—	—	—	—
Reclassification of warrants from equity to liability	2	—	—	—	—
Tender offer costs included in accounts payable and accrued expenses	70,575	—	—	—	—
Assets acquired by operating lease related to discontinued operations	—	647,958	—	—	—

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