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), 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.
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.
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