Data Storage Corp (NASDAQ: DTST) is a telecommunications services company that, as of FY2025, operates through its Nexxis subsidiary providing interconnected nomadic VoIP services, internet access services, and data transport services. Revenue comes from selling these communications and connectivity services to business customers, with a substantial portion derived from a limited number of customers as disclosed in the FY2025 10-K filed April 14, 2026. The company previously operated a cloud infrastructure business under the CloudFirst brand, which was sold on September 11, 2025, leaving Nexxis as the sole continuing operation. Nexxis is headquartered in Melville, New York. Customer concentration is a material risk, with the company disclosing that a limited number of customers account for a substantial portion of Nexxis revenues. Following a tender offer completed in January 2026, the company repurchased approximately 72.0% of shares outstanding as of December 8, 2025, at $5.20 per share, for an aggregate cost of $29,250,971, leaving 2,167,138 shares outstanding.

Revenue model

Service-based revenue from VoIP, internet access, and data transport services sold to business customers through the Nexxis subsidiary. The company discloses customer concentration risk, indicating a transactional or subscription model with a small number of key accounts. Financial figures for FY2025 and FY2024 are not legible in the filing excerpts provided.

Products and services

Interconnected nomadic VoIP services, internet access services, and data transport services, all offered through the Nexxis subsidiary. Services are classified as information services under the Communications Act of 1934. The previously operated CloudFirst business, which provided cloud infrastructure and IBM Power cloud solutions, was divested on September 11, 2025.

Customers and end markets

Business customers in large-scale computing environments with varied operating systems and networking configurations. The filing discloses that a substantial portion of Nexxis revenues have come from a limited number of customers, indicating material customer concentration risk.

Value-chain role

Service provider relying on third-party hardware and software to deliver VoIP, internet, and data transport solutions. Nexxis sits between upstream hardware and software vendors and end-business customers, reselling and integrating connectivity services.

Geographic exposure

Primary operations in Melville, New York as of the FY2025 10-K. A European subsidiary, CloudFirst Europe Ltd., was transferred as part of the CloudFirst divestiture on September 11, 2025, leaving U.S. operations as the remaining footprint.

Source: SEC 10-K, filed 2026-04-14

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