Welcome to our dedicated page for Research Solutions news (Ticker: RSSS), a resource for investors and traders seeking the latest updates and insights on Research Solutions stock.
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, Inc. (NASDAQ: RSSS) reports significant onboarding progress with former AutoDoc customers, securing contracts for 70% of associated fee revenue. Effective January 1, 2023, these contracts have contributed to promising initial results, driving year-over-year transaction growth rates into the low teens, based on only two months of data. The company aims to convert these clients to its Article Galaxy platform, which offers enhanced document delivery services. This transition aligns with previous agreements in September 2022 to transfer document delivery customers, enhancing full-text delivery reliability and compliance.
Research Solutions (NASDAQ: RSSS) reported fiscal Q2 2023 results, showing a 10.7% increase in total revenue, reaching $8.7 million, marking two consecutive quarters of double-digit growth. Platform revenue surged 31% to $2.1 million, while Annual Recurring Revenue (ARR) rose 28% to $8.8 million. Gross profit improved 20% to $3.4 million, with gross margin reaching 39%. The company recorded a net loss of $0.01 per share, an improvement from $0.02 the previous year. Adjusted EBITDA stood at $201,000, up from a loss of $165,000. Positive cash flow from operations was reported at $0.9 million.
Research Solutions (NASDAQ: RSSS) will hold a conference call on February 9, 2023, at 5:00 p.m. ET to discuss its financial results for the second fiscal quarter ending December 31, 2022.
The call will be hosted by President and CEO Roy W. Olivier and CFO Bill Nurthen. Details for participating include a dial-in number of 1-631-891-4304 and Conference ID 10020971. A replay will be available post-call until March 9, 2023.
Research Solutions, founded in 2006, provides cloud-based technologies and serves over 70% of top pharmaceutical companies and prestigious universities.
Research Solutions, Inc. (NASDAQ: RSSS) will be participating in the Healthcare IT Virtual Conference on January 25th, 2023, at 12:00 PM ET. CEO Roy W. Olivier and CFO Bill Nurthen will represent the company during the event presented by Maxim Group LLC. Interested listeners can sign up via the M-Vest website or through a provided link.
Founded in 2006, Research Solutions specializes in cloud-based technologies for research and development organizations, serving over 70% of top pharmaceutical companies and universities with its Article Galaxy platform.
Research Solutions, Inc. (NASDAQ: RSSS) reported total revenue of $8.7 million for Q1 2023, representing a 12% increase year-over-year. The company saw platform revenue surge 34% to $2.0 million and Annual Recurring Revenue (ARR) rise 33% to $8.3 million. Net income reached $215,000 or $0.01 per diluted share, reversing a loss of ($372,000) from the prior year. The gross profit increased 26%, with a gross margin improvement to 38.6%. The company recorded positive cash flow from operations of $109,000.
Research Solutions, Inc. (NASDAQ: RSSS) is set to announce its financial results for the first fiscal quarter ending September 30, 2022, on November 10, 2022, at 5:00 p.m. ET. The conference call will feature CEO Roy W. Olivier and CFO Bill Nurthen, who will discuss the results followed by a Q&A session. Investors can access the call via a dial-in number or through the company's investor relations website. A replay will be available until December 10, 2022.
Research Solutions (NASDAQ: RSSS) has launched Curedatis, a SaaS platform aimed at streamlining literature review workflows for medical device companies. This innovative tool enhances the clinical evaluation process by enabling rapid article screening and maintaining regulatory compliance through intelligent documentation. Key features include simplified searching, ultra-fast screening utilizing PICO terms, and centralized article access via the Article Galaxy platform, which reduces time spent on data duplication. Curedatis addresses critical challenges in clinical evaluations for healthcare professionals.
Research Solutions, Inc. (NASDAQ: RSSS) has announced the acquisition of selected customer contracts from FIZ Karlsruhe's AutoDoc service, which serves approximately 700 global customers. This strategic move is expected to enhance transaction revenues and provide opportunities to cross-sell to the Article Galaxy Platform. The contract assumption will take effect on January 1, 2023, with revenue recognition starting in the fiscal third quarter. The acquisition aims to expand Research Solutions' customer base and geographic reach, aligning with their strategy for greater recurring revenue and business growth.
Research Solutions, Inc. (NASDAQ: RSSS) reported a 4% increase in total revenue to $8.6 million for Q4 FY2022, driven by a 32% rise in platform revenue, reaching $1.9 million. The company achieved a 35% increase in annual recurring revenue (ARR), totaling $7.9 million, and added 53 net new platform deployments. Despite these gains, Research Solutions recorded a net loss of $438,000, translating to $0.02 per share, and a negative adjusted EBITDA of $121,000. For the fiscal year, total revenue grew to $32.9 million, but net loss widened to $1.6 million.
Research Solutions, Inc. (NASDAQ: RSSS) is scheduled to announce its fourth quarter and full fiscal year results for the period ending June 30, 2022, on September 22, 2022. The conference call will be hosted by President and CEO Roy W. Olivier and CFO Bill Nurthen at 5:00 p.m. ET. Interested parties can join the call or access it via the investor relations section of the company's website afterward. Research Solutions provides cloud-based technologies focused on research and development, serving over 70% of top pharmaceutical companies and universities.
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