Data Storage Corporation Quarterly report [Sections 13 or 15(d)]

Segment Information (Tables)

6 Months Ended

Jun. 30, 2025


	June 30, 2025
	CloudFirst Technologies		CloudFirst Europe Ltd.		Nexxis Inc.		Corporate		Total

Accounts receivable, net	$	1,633,320	$	2,030	$	39,330	$	52,431	$	1,727,111
Prepaid expenses and other current assets		883,601		34,459		40,018		955,016		1,913,094
Property and equipment, net		2,761,350		570,652		1,637		4,500		3,338,139
Intangible assets, net		1,293,435		—		—		—		1,293,435
Goodwill		4,238,671		—		—		—		4,238,671
Operating lease right-of-use assets		525,416		—		—		—		525,416
Other assets		—		—		—		11,385,280		11,385,280
Total assets	$	11,335,793	$	607,141	$	80,985	$	12,397,227	$	24,421,146

Accounts payable and accrued expenses	$	364,894	$	25,276	$	81,990	$	1,877,839	$	2,349,999
Deferred revenue		227,204		—		—		—		227,204
Deferred tax liability		—		—		—		39,031		39,031
Operating lease liabilities		574,182		—		—		—		574,182
Total liabilities	$	2,004,632	$	25,276	$	81,990	$	1,078,518	$	3,190,416


	December 31, 2024
	CloudFirst Technologies		CloudFirst Europe Ltd.		Nexxis Inc.		Corporate		Total

Accounts receivable, net	$	2,166,440	$	—	$	59,018	$	—	$	2,225,458
Prepaid expenses and other current assets		678,123		62,842		25,056		93,481		859,502
Property and equipment, net		2,858,664		574,919		2,056		4,017		3,439,656
Intangible assets, net		1,427,006		—		—		—		1,427,006
Goodwill		4,238,671		—		—		—		4,238,671
Operating lease right-of-use assets		575,380		—		—		—		575,380
Other assets		—		—		—		12,514,542		12,514,542
Total assets	$	11,944,284	$	637,761	$	86,130	$	12,612,040	$	25,280,215

Accounts payable and accrued expenses	$	2,514,439	$	80,348	$	78,654	$	509,938	$	3,183,379
Deferred revenue		212,390		—		—		—		212,390
Deferred tax liability		—		—		—		39,031		39,031
Finance leases payable		17,641		—		—		—		17,641
Finance leases payable related party		33,879		—		—		—		33,879
Operating lease liabilities		621,930		—		—		—		621,930
Total liabilities	$	3,400,279	$	80,348	$	78,654	$	548,969	$	4,108,250


	Three Months Ended June 30, 2025
	CloudFirst Technologies		CloudFirst Europe Ltd.			Nexxis Inc.			Corporate			Total
Sales	$	4,815,516	$	—		$	331,406		$	—		$	5,146,922
Cost of sales		2,333,386		87,012			189,770			—			2,610,168
Gross profit		2,482,130		(87,012	)		141,636			—			2,536,754

Selling, general and administrative		1,886,354		357,123			151,818			937,126			3,332,421

Income (loss) from operations	$	595,776	$	(444,135	)	$	(10,182	)	$	(937,126	)	$	(795,667	)


	Three Months Ended June 30, 2024
	CloudFirst Technologies		CloudFirst Europe Ltd.		Nexxis Inc.			Corporate			Total
Sales	$	4,617,445	$	—	$	293,047		$	—		$	4,910,492
Cost of sales		2,345,385		—		157,214			—			2,502,599
Gross profit		2,272,060		—		135,833			—			2,407,893

Selling, general and administrative		1,739,626		—		160,255			896,798			2,796,679

Income (loss) from operations	$	532,434	$	—	$	(24,422	)	$	(896,798	)	$	(388,786	)


	Six Months Ended June 30, 2025
	CloudFirst Technologies		CloudFirst Europe Ltd.			Nexxis Inc.			Corporate			Total
Sales	$	12,586,528	$	—		$	644,150		$	—		$	13,230,678
Cost of sales		7,300,123		172,168			361,737			—			7,834,028
Gross profit		5,286,405		(172,168	)		282,413			—			5,396,650

Selling, general and administrative		3,611,029		727,938			299,839			1,646,020			6,284,826

Income (loss) from operations	$	1,675,376	$	(900,106	)	$	(17,426	)	$	(1,646,020	)	$	(888,176	)


	Six Months Ended June 30, 2024
	CloudFirst Technologies		CloudFirst Europe Ltd.		Nexxis Inc.			Corporate			Total
Sales	$	12,572,403	$	—	$	573,836		$	—		$	13,146,239
Cost of sales		7,448,020		—		323,854			—			7,771,874
Gross profit		5,124,383		—		249,982			—			5,374,365

Selling, general and administrative		3,666,317		—		337,345			1,545,694			5,549,356

Income (loss) from operations	$	1,458,066	$	—	$	(87,363	)	$	(1,545,694	)	$	(174,991	)