Why Data Storage Shares Are Surging Today

May 16, 2022 8:43 AM | 1 min read |

Data Storage Corp 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.