BuybackMay 15, 2026, 09:31 AM
Data Storage Corp Completes $29.5M Share Buyback; Q1 Net Loss $(631K)
AI Summary
Data Storage Corp completed a $29.5 million share repurchase tender offer in Q1 2026, significantly impacting its balance sheet. The company reported a net loss attributable to common stockholders of $(631,272) for the quarter, compared to a net income of $24,078 in the prior year. Sales from continuing operations increased by 10.8% to $346,707, but the loss from continuing operations widened to $(768,258). The company also recognized a $148,991 net gain from the sale of discontinued operations.
Key Highlights
- Completed a $29.5 million share repurchase tender offer in Q1 2026.
- Reported a net loss attributable to common stockholders of $(631,272) in Q1 2026, from $24,078 income in Q1 2025.
- Loss from continuing operations widened to $(768,258) in Q1 2026, from $(595,232) in Q1 2025.
- Sales from continuing operations increased 10.8% to $346,707 in Q1 2026, from $312,744 in Q1 2025.
- Recognized a $148,991 net gain on the sale of discontinued operations in Q1 2026.
- Cash and cash equivalents decreased to $114,622 at March 31, 2026, from $1,989,354 at December 31, 2025.
- Total assets decreased to $11.75 million at March 31, 2026, from $43.02 million at December 31, 2025.
- Total stockholders' equity decreased to $10.67 million at March 31, 2026, from $40.69 million at December 31, 2025.
Price Impact
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