Research Solutions Inc Stock Price, News & Analysis

Research Solutions, Inc. (NASDAQ: RSSS) announced the resignation of Chief Financial Officer Alan Urban, effective October 4, 2021. He will assist in the transition for an unspecified duration. William A. Nurthen has been appointed as the new CFO, bringing over 14 years of experience in B2B media and SaaS companies. Nurthen expressed enthusiasm about joining Research Solutions, emphasizing its strong platform deployments and potential for growth. CEO Roy W. Olivier praised Nurthen's qualifications, which are expected to benefit the company's strategic and financial objectives.

Research Solutions, Inc. (NASDAQ: RSSS) appointed Roy W. Olivier as President and Chief Executive Officer, effective immediately. Olivier has been serving as interim CEO since March 2021 and has begun making strategic impacts. He comes with extensive experience in SaaS companies, having previously led ARI Network Services, where he significantly grew both employee count and revenue. The company aims to enhance its offerings and expand its customer base under his leadership, aligning with a strategic growth strategy developed during his interim tenure.

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.