Data Storage Clocks 97% Revenue Growth In Q4 Due To Rising Cyberattacks

Business continuity solutions provider Data Storage Corp DTST reported fourth-quarter FY21 revenue growth of 97.1% year-on-year.
Data Storage reported FY21 revenue growth of 59.6% Y/Y to $14.9 million.
Data Storage achieved positive adjusted EBITDA in Q4 and FY21.
The company reported FY21 EPS of $0.03 against $0.02 last year.
Data Storage held $12.1 million in cash and equivalents.
CEO Chuck Piluso said, "Importantly, we are successfully executing on our strategy to establish Data Storage as a leading provider of business continuity solutions, ranging from Managed Cloud Infrastructure to cybersecurity, direct internet access, VoIP integration with Microsoft Teams, and an array of managed services. It is clear that digital infrastructure, data integrity and disaster recovery is more critical than ever given the heightened risks of cyber attacks from foreign nations and rogue actors."
Price Action: DTST shares traded higher by 0.63% at $3.22 on the last check Thursday.