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Research Solutions Inc. (NASDAQ: RSSS) is a pioneering force in providing cloud-based workflow solutions, designed to accelerate research for R&D-driven organizations. Established in 2006 as Reprints Desk, the company has significantly evolved to streamline the access, procurement, and legal use of scientific, technical, and medical (STM) research articles.
The company's core offering, the Article Galaxy platform, serves over 70 percent of the top pharmaceutical companies, prestigious universities, and emerging businesses globally. This platform enables users to find and download digital versions of STM articles, manage transactions, automate authentication, and generate reports. It integrates seamlessly with corporate intranets, aiding organizations in speeding up their research and development activities.
Research Solutions has continually expanded its product suite through strategic acquisitions. In late July, the company acquired ResoluteAI, enhancing its artificial intelligence capabilities. More recently, in November 2023, the acquisition of scite added a revolutionary search and discovery platform that uses AI to increase the discoverability and evaluation of research.
Key achievements include being ranked #1 by Outsell Inc. in document delivery and winning numerous industry awards like the Association of Independent Information Professionals Technology Award and the KMWorld Magazine Trend-Setting Products award.
The company reported robust financial performance for its fiscal first quarter ended September 30, 2023, with total revenue reaching $10.1 million, a 16% increase from the previous year. The addition of ResoluteAI and scite significantly boosted the annual recurring revenue (ARR) to over $11 million. Despite inflationary pressures affecting growth in platform products, the focus on high-margin solutions and continual mergers and acquisitions are expected to sustain their growth trajectory.
Recent developments include the launch of the Technology Landscape Module and the Clinical Trial Landscape solution, both leveraging advanced AI to provide comprehensive analytics and insights, further cementing Research Solutions' position as a leader in scientific data integration.
As the company continues to innovate and expand its offerings, it remains dedicated to its mission of empowering researchers with the most effective tools and resources to drive innovation and achieve groundbreaking results.
For more detailed information, visit www.researchsolutions.com.
Research Solutions (NASDAQ: RSSS) has appointed Sefton Cohen as Chief Revenue Officer to accelerate its transformation from a scientific content provider to an AI-enabled research intelligence platform. Cohen brings over 20 years of SaaS experience, previously serving as CRO at Suralink and RapidRatings, where he led a commercial transformation resulting in a $240 million private equity exit. At Research Solutions, Cohen will lead global revenue operations, focusing on scaling platform revenue while maintaining high customer satisfaction. The appointment aligns with the company's recent expansion in AI capabilities, including the launch of literature discovery tools leveraging over 1.2 billion citation statements.
Research Solutions (NASDAQ: RSSS) reported strong fiscal Q1 2025 results with total revenue increasing 20% to $12.0 million. The company achieved significant growth with Platform revenue up 67% to $4.3 million and Annual Recurring Revenue (ARR) rising 60% to $17.6 million. Notable improvements include a record gross margin of 47.9%, net income of $669,000 ($0.02 per diluted share), and Adjusted EBITDA of $1.3 million. The company demonstrated positive cash flow from operations of $0.8 million, marking a substantial improvement from the prior year's $0.8 million burn rate.
Research Solutions (NASDAQ: RSSS), an AI-powered research workflow platform, has scheduled its fiscal 2025 first quarter financial results conference call for November 14, 2024, at 5:00 p.m. ET. The company will release its financial results for the quarter ended September 30, 2024, after market close on the same day. CEO Roy W. Olivier and CFO Bill Nurthen will host the call, which will include a Q&A session. The call will be accessible via dial-in and webcast, with a replay available until December 14, 2024.
Research Solutions (NASDAQ: RSSS) has expanded its partnership with Karger Publishers through its Scite platform. Karger, a biomedical and health science publisher, now features Scite's Smart Citation badges on its journal article pages across 100 medical journals on Karger.com. Smart Citations provide context beyond traditional citations by showing citation statements and classifying whether citing articles offer supporting or contrasting evidence.
Scite has analyzed over 1.3 billion citation statements from more than 37 million full-text articles. The collaboration aims to enrich and accelerate the research experience, making scientific literature more discoverable and understandable. Karger joins over 40 major and mid-sized publishers in integrating Smart Citations, adding to the 3.5 million articles that already display this feature from publishers like Wiley, The Royal Society, and Wolters Kluwer.
Research Solutions (NASDAQ: RSSS), an AI-powered research workflow platform, has unveiled a new brand identity and product suite. This rebranding reflects the company's integration of AI capabilities and its strategy to support evolving researcher needs across industries. The new identity emphasizes the company's commitment to accelerating progress through advancing global knowledge.
Following recent acquisitions of ResoluteAI and Scite.ai, Research Solutions is focusing on delivering AI-powered solutions for corporate and academic innovation across key workflow stages: Discover, Access, Manage, and Analyze. The company is enhancing its industry-leading tools to create a comprehensive product family, including AI-powered search, contextualized citation insights, customizable data dashboards, collaboration tools, and advanced analytics.
The rebranding aims to differentiate Research Solutions in a competitive market, highlighting its strengths and positioning as a long-term strategic partner to the research community.
Research Solutions (NASDAQ: RSSS) reported strong financial results for Q4 and fiscal year 2024. Key highlights include:
- Q4 total revenue up 22% to $12.1 million
- Q4 platform revenue up 86% to $4.3 million
- Annual Recurring Revenue (ARR) up 84% to $17.4 million
- Q4 Adjusted EBITDA up 70% to $1.4 million
- FY2024 total revenue up 18% to $44.6 million
- FY2024 platform revenue up 61% to $14.0 million
The company completed two acquisitions, positioning itself as a vertical SaaS and AI company for researchers. Despite a net loss of $2.8 million in Q4 and $3.8 million for FY2024, largely due to acquisition-related expenses, Research Solutions achieved record cash flow and expects continued ARR growth and expanded Adjusted EBITDA margins.
Research Solutions (NASDAQ: RSSS), a provider of cloud-based workflow solutions for R&D organizations, has announced its upcoming financial results conference call. The call, scheduled for Thursday, September 19, 2024, at 5:00 p.m. ET, will discuss the company's fourth quarter and full-year fiscal 2024 results ended June 30, 2024. CEO Roy W. Olivier and CFO Bill Nurthen will host the event.
Key details include:
- Financial results press release to be issued before the call
- Dial-in number: 1-412-317-5180
- Live broadcast and replay available on the company's investor relations website
- Replay available until October 19, 2024 (Dial: 1-412-317-6671, ID: 10191850)
Research Solutions (NASDAQ: RSSS), a provider of cloud-based R&D workflow solutions, announced its participation in two upcoming investor conferences. The company will attend the Three Part Advisors Midwest IDEAS Conference on August 28, 2024, in Chicago, featuring a group presentation at 3:00pm ET and 1-on-1 meetings. A webcast will be available on the conference website.
Additionally, Research Solutions will participate in the Lake Street Capital Markets BIG8 Conference on September 12, 2024, in New York, offering 1-on-1 meetings. Interested qualified investors can contact Steven Hooser for the IDEAS conference or their Lake Street sales representative for the BIG8 conference.
Research Solutions (NASDAQ: RSSS) has announced preliminary financial results for Q4 and FY 2024, expecting record revenue and income from operations. Key highlights include:
- Q4 total revenue up 22% to ~$12.1M
- Q4 Platform revenue up 86% to ~$4.3M
- Annual Recurring Revenue (ARR) increased ~85% to $17.4M
- Q4 Adjusted EBITDA of ~$1.4M, up 70% YoY
- FY2024 total revenue up 18% to ~$44.6M
- FY2024 Platform revenue up 61% to ~$14M
The company anticipates a GAAP net loss in Q4 due to a $4.3M charge related to increased earn-out assumptions for the Scite acquisition. Despite this, Research Solutions reports strong cash flow and improved overall gross margin.
Research Solutions (NASDAQ: RSSS) has announced a partnership with Jisc, the UK digital agency for tertiary education and research. This collaboration will make Scite's AI platform more accessible to over 280 UK higher education and research institutions. Scite, now part of Research Solutions, offers Smart Citations and an AI Assistant to enhance research discovery and evaluation.
The platform provides powerful search capabilities across 187 million publications, 2 billion references, and 1.3 billion citation statements. It also offers workflows for identifying editorial concerns and instant reference analysis. This partnership aims to advance research quality by leveraging ethical AI technology, benefiting prestigious institutions like the University of Manchester and the University of Exeter.
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