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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, Inc. (NASDAQ: RSSS) reported financial results for Q4 and fiscal year 2021, highlighting a 4.2% increase in total revenue to $8.2 million for Q4 and a 2.2% increase to $31.8 million for the full year. Platform revenue surged 34% to $1.4 million, aided by a 32% rise in annual recurring revenue, totaling $5.9 million. Despite a net loss of ($89,000) for Q4, adjusted EBITDA improved to $134,000. The company reported $11.0 million in cash, up $1.7 million year-over-year, indicating a strong financial position.
Research Solutions, Inc. (NASDAQ: RSSS) will announce its fiscal fourth quarter and full-year financial results on September 23, 2021, at 5:00 p.m. ET. Interim President and CEO Roy W. Olivier and CFO Alan Urban will host a conference call to discuss the results, which will be released after market close. The conference will also include a question-and-answer session. For those unable to attend, a replay will be available from 8:00 p.m. ET on the same day until October 14, 2021.
Research Solutions, Inc. (NASDAQ: RSSS) announced preliminary financial results for Q4 fiscal 2021, revealing a 4.2% revenue increase to approximately $8.2 million, up from $7.9 million last year. Platform subscription revenue surged 34% to about $1.4 million. Annual recurring revenue is projected to rise 32% to $5.9 million, with paid platform deployments anticipated to grow by 38% to 553. Despite these gains, the company expects a net loss of $90,000. Cash reserves at the end of June 2021 are expected to be around $11 million, compared to $9.3 million a year prior.
Research Solutions (NASDAQ: RSSS) announced that its Interim President & CEO Roy W. Olivier and CFO Alan Urban will participate in the Midwest IDEAS Investor Conference on August 26, 2021. Their presentation will be available starting at 7:00 am CT on August 25, accessible via the conference site. This event, managed by Three Part Advisors, LLC, is part of an annual series held in Boston, Chicago, and Dallas. Research Solutions provides cloud-based technologies for R&D-driven organizations, with its Article Galaxy platform serving over 70% of top pharmaceutical companies and universities.
Research Solutions (NASDAQ: RSSS) announced the launch of Article Galaxy 3.0, enhancing its cloud-based platform for scientific literature management. This upgrade offers features like one-click access to over 100 million articles, improved search functionality, and a corporate PDF library for easier collaboration. Existing users will transition to this version at no extra cost, reflecting the company's commitment to streamline research processes and reduce costs for customers.
Research Solutions, Inc. (NASDAQ: RSSS), known for cloud-based workflow solutions, will participate in the virtual East Coast IDEAS Investor Conference on June 16-17, 2021. The presentation is set to be available at 7:00 am CDT on June 16, accessible through the conference site. This annual event is organized in cities like Boston, Chicago, and Dallas by Three Part Advisors, LLC. Research Solutions offers the Article Galaxy platform, widely used by leading pharmaceutical companies and universities for efficient access to scientific research.
Research Solutions, Inc. (NASDAQ: RSSS) reported strong financial performance for its fiscal 2021 third quarter ending March 31, 2021. Key highlights include a 32% increase in platform revenue to $1.3 million, and annual recurring revenue rose 34% to $5.6 million. Total revenue grew 4% to $8.3 million. Net income improved to $50,000 compared to $12,000 a year prior, while adjusted EBITDA reached a record $238,000. Operating expenses were up by 4%, primarily due to increased technology and product development costs.
Research Solutions, Inc. (NASDAQ: RSSS) announced a conference call scheduled for May 13, 2021, at 5:00 p.m. ET to discuss its financial results for the fiscal 2021 third quarter ending March 31, 2021. The call will be led by Interim President and CEO Roy W. Olivier and CFO Alan Urban, followed by a Q&A session. Interested participants can join using the toll-free number 1-855-327-6837 or international number 1-631-891-4304. A replay will be available post-call until June 3, 2021.
Research Solutions, Inc. (NASDAQ: RSSS) has announced a transition in its executive management. Effective March 29, 2021, Peter Derycz becomes Executive Chairman, while Roy W. Olivier takes on the role of Interim President and CEO as the board searches for a permanent leader. Derycz, founder of the company, will focus on strategy and product development. Olivier aims to leverage his experience to drive growth, particularly through M&A opportunities. This change is part of the company's effort to enhance its cloud-based SaaS offerings and increase shareholder value.
Research Solutions, Inc. (NASDAQ: RSSS) will participate in the Virtual 33rd Annual ROTH Conference from March 15-17, 2021. CEO Peter Dercyz and CFO Alan Urban will hold virtual one-on-one meetings at the event. The company specializes in cloud-based workflow solutions for R&D organizations, streamlining access to scientific research through its platform, Article Galaxy. With over 70% of leading pharmaceutical companies and universities relying on its services, it offers both individual and enterprise plans with 24/7 customer support.
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