- Data Storage Corp (NASDAQ:DTST) reported first-quarter FY22 revenue growth of 236% year-on-year to $8.66 million, beating the consensus of $6 million.
- Adjusted EBITDA grew 75.3% Y/Y to $0.6 million.
- Data Storage achieved a positive net income. EPS of $0.02 beat the consensus of $0.01.
- Data Storage held $13.4 million in cash and equivalents and generated $1.6 million in operating cash flow.
- CEO Chuck Piluso commented, "I am pleased to report we have witnessed increased sales, as well as an increase in monthly subscription services, which contributed to our revenue growth from $2.6 million to $8.7 million, a year-over-year increase of 236% for the first quarter of 2022."
- Price Action: DTST shares traded higher by 47.4% at $3.40 in the premarket on the last check Monday.
