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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 its fiscal 2021 second-quarter results, highlighting a 29% increase in platform revenue to $1.2 million and a 35% rise in annual recurring revenue to $5 million. Despite a 1% decline in total revenue to $7.4 million, the net loss improved by 56% to $(261,000), with loss per share at $(0.01). Adjusted EBITDA rose to $161,000, a significant improvement of $345,000. The company continues to transition towards higher-margin SMB customers, impacting transaction revenue, which decreased by 5%.
Research Solutions, Inc. (NASDAQ: RSSS) will announce its financial results for the fiscal 2021 second quarter, ending December 31, 2020, during a conference call on February 11, 2021, at 5:00 p.m. ET. The press release detailing the financial results will be issued after market close before the call. CEO Peter Derycz and CFO Alan Urban will host the call, providing insights and engaging in a Q&A session. A replay will be accessible until March 4, 2021, post the initial call.
Research Solutions, Inc. (NASDAQ: RSSS) reported a modest 2% increase in total revenue to $7.7 million for the first quarter of fiscal 2021. The platform revenue surged 33% to $1.1 million, with annual recurring revenue rising 35% to $4.7 million. Gross margins improved to 31.6%, up 110 basis points year-over-year. The company recorded a net income of $15,000, a significant turnaround from a loss of $81,000 in the previous year. Adjusted EBITDA also saw a remarkable improvement, up 369% to $167,000.
Research Solutions, Inc. (NASDAQ: RSSS) will participate in the Three Part Advisors' virtual Southwest IDEAS Conference on November 18, 2020. The presentation will be webcast, available at 7:00 am CT, and can be accessed via the conference portal at www.IDEASconferences.com. Qualified investors can arrange meetings with management through Steven Hooser at shooser@threepa.com. Research Solutions specializes in cloud-based workflow solutions for R&D, with over 70% of leading pharmaceutical companies utilizing its Article Galaxy platform.
Research Solutions, Inc. (NASDAQ: RSSS) will announce its financial results for the first quarter of fiscal 2021, ending September 30, 2020, on November 12, 2020. The company’s President and CEO, Peter Derycz, along with CFO Alan Urban, will host a conference call at 5:00 p.m. ET to discuss these results, followed by a Q&A session. A press release will precede the call, and investors can access a replay of the call afterwards until December 3, 2020.
Research Solutions (NASDAQ: RSSS) has partnered with BIO Business Solutions to enhance access to scholarly literature for life sciences companies. This collaboration aims to provide members with significant savings and streamlined access to scientific content through Article Galaxy. Benefits include a 15% discount on subscriptions and a 20% reduction in article spending. More than 4,500 member organizations currently save over $511 million annually through BIO's cost-saving program, supporting innovation in biotechnology.
Research Solutions, Inc. (NASDAQ: RSSS) reported a 5.5% increase in fourth-quarter revenue to $7.9 million and a 7.9% rise in full-year revenue to $31.1 million for FY2020. Platform revenue surged 33% to $1.1 million in Q4 and 38% to $3.9 million for the year, with annual recurring revenue reaching $4.4 million. Gross margins improved to 31.8% in Q4 and 31.0% for the year. Adjusted EBITDA showed significant growth, increasing to $146,000 quarterly and $143,000 annually. Cash reserves rose to $9.3 million. The company successfully uplisted to NASDAQ on March 23, 2020.
Research Solutions, Inc. (NASDAQ: RSSS) will discuss its financial results for the fiscal fourth quarter and full year ended June 30, 2020, in a conference call on Thursday, September 24, 2020, at 5:00 p.m. ET. Following the market close, a press release will be issued with detailed financial results. The call will feature President and CEO Peter Derycz and CFO Alan Urban, followed by a Q&A session. Investors can dial in using the toll-free number or access a replay of the call until October 15, 2020. Research Solutions offers cloud-based workflow solutions primarily for R&D-driven organizations.
Research Solutions, Inc. (NASDAQ: RSSS) announced a partnership with FIZ Karlsruhe to launch the AutoDoc Academic Program, enhancing document delivery for academic institutions. This service offers fast, cost-effective access to scholarly articles when traditional methods fall short. The collaboration allows customers to obtain 100% native PDFs from over 30,000 journals at competitive prices. AutoDoc's established reputation in the academic sector aligns with Research Solutions' goal to support scientific discovery while ensuring compliance with copyright regulations.
Research Solutions (NASDAQ: RSSS) has announced the integration of its document retrieval solution, Article Galaxy, with the Dialog search platform. This partnership enables users to seamlessly access a wide range of content databases and obtain full-text journal articles quickly and affordably. The integration enhances user experience by significantly reducing the time needed for research discovery and access. It also supports researchers by providing a comprehensive search capability across over 140 databases, including 1.3 billion authoritative records. This collaboration aims to streamline literature acquisition and maximize cost-efficiency for research organizations.
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