Q2 2025 Data Storage Corp Earnings Call Transcript
Key Points
- Total sales for the three months ended June 30, 2025, increased by 4.8% compared to the same period in 2024, driven by growth in subscription-based services.
- Cloud infrastructure and disaster recovery revenue grew by 6.1%, reflecting the addition of new subscription clients and expanded services for existing clients.
- Nexxis services saw a significant increase of 17.3%, indicating successful sales initiatives.
- The proposed sale of CloudFirst Technologies is expected to be transformative, offering a substantial premium to the company's market cap and unlocking hidden value.
- The company is exploring high-growth markets such as AI, cybersecurity, and SaaS, which align with its evolving vision and could drive future growth.
- Net loss attributable to common shareholders for the three months ended June 30, 2025, was $733,000, compared to a net loss of $244,000 for the same period in 2024.
- Total sales for the six months ended June 30, 2025, only increased by 0.6% compared to the same period in 2024, indicating limited growth.
- There was a 12.6% decrease in equipment and software sales, primarily due to nonrecurring equipment sales in the prior-year period.
- Selling, general, and administrative expenses increased by 19.2% for the three months ended June 30, 2025, driven by higher salaries, directors' fees, and stock-based compensation.
- The company's cash, cash equivalents, and marketable securities decreased to $11.1 million at June 30, 2025, from $12.3 million at June 31, 2024.
Greetings, and welcome to Data Storage Corporation's second quarter earnings call. (Operator Instructions) Please note that this conference is being recorded. I will now turn the conference over to our host, Alexandra Schilt, Investor Relations. Thank you. You may begin.
Thank you. Good morning, everyone, and welcome to Data Storage Corporation's 2025 second quarter business update conference call. On the call with us this morning are Chuck Piluso, Chairman and Chief Executive Officer; and Chris Panagiotakos, Chief Financial Officer.
The company issued a press release this morning containing its 2025 second quarter financial results, which is also posted on the company's website. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at (212) 671-1020.
Before we begin, I'd like to remind listeners that this conference call contains forward-looking statements within the meaning of the
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