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. reports developments in AI-powered research workflow software for research-intensive organizations. The company provides cloud-based SaaS platforms and services that support access to scientific literature, intellectual property workflows, and electronic delivery of individual articles. Its revenue mix includes platform subscription fees and transaction service fees tied to article acquisition and delivery.
Recurring news themes include financial results, platform revenue and transaction activity, product launches for Scite and Article Galaxy, and integrations that connect scientific literature access with AI assistants, developer tools, APIs, and Model Context Protocol workflows. Company updates also cover institutional customer relationships, international expansion, management changes, and governance-related announcements.
Research Solutions, Inc. (NASDAQ: RSSS) announced record revenue of $8.8 million for Q3 2022, marking a 5% increase year-over-year. The company's Annual Recurring Revenue (ARR) rose by 32% to $7.3 million, driven by strong platform growth and 34 new platform deployments. Despite these gains, the company reported a net loss of $341,000, or $0.01 per share, compared to breakeven a year ago. Adjusted EBITDA decreased to $94,000 from $238,000. Total gross margin improved to 37% from 32.4% last year, reflecting a favorable revenue mix.
Research Solutions, Inc. (NASDAQ: RSSS) will announce its fiscal third quarter results for the period ended March 31, 2022, on May 12, 2022, at 5:00 p.m. ET. A press release with financial results will precede the call. The conference will be led by CEO Roy W. Olivier and CFO Bill Nurthen, followed by a Q&A session. Investors can participate via toll-free and international dial-in numbers. A replay will be available until June 12, 2022. Research Solutions specializes in cloud-based technologies for R&D organizations, with over 70% of top pharmaceutical companies utilizing its Article Galaxy platform.
Research Solutions (NASDAQ: RSSS) will participate in the 2022 Virtual Growth Conference on March 29th at 1:00 p.m. ET. Hosted by Maxim Group LLC and M-Vest, the event will feature presentations, fireside chats, and live Q&A sessions with CEOs. Research Solutions, known for its cloud-based technologies, serves over 70% of top pharmaceutical companies and universities with its SaaS platform, Article Galaxy, designed to streamline access to scientific research. For participation, sign up at m-vest.com/events.
Research Solutions (NASDAQ: RSSS) announced a partnership with scite to enhance its cloud-based research tools, Bibliogo and Article Galaxy. This collaboration aims to display Smart Citations, allowing users to easily identify the context of citations and whether they support or contrast with the articles in question. This initiative is designed to streamline access to crucial research, benefiting both customers and researchers by improving the efficiency of discovering relevant studies. The partnership underscores Research Solutions' commitment to simplifying the research process.
Research Solutions, Inc. (NASDAQ: RSSS) will ring the NASDAQ Stock Market Closing Bell on March 2, 2022, marking its second year on the exchange. CEO Roy W. Olivier expressed gratitude to customers, shareholders, and employees, highlighting the uplisting as a significant step toward attracting institutional investors. The company focuses on cloud-based solutions for research and development, with its Article Galaxy platform being crucial for over 70% of leading pharmaceutical companies and universities.
Research Solutions, Inc. (NASDAQ: RSSS) has appointed Barbara J. Cooperman to its Board of Directors, bringing over 20 years of experience in both corporate and non-profit sectors. Cooperman has held prominent positions in various technology companies and previously served as Chief Marketing Officer at Kroll, Inc. and The College Board. Her background in scientific publishing and strategic initiatives aligns with the company's goals to expand product offerings and enhance Platforms deployments, according to CEO Roy W. Olivier.
Research Solutions, Inc. (RSSS) reported Q2 fiscal 2022 results, showcasing total revenue of $7.9 million, a 5.7% increase year-over-year. Notable highlights include a 31% rise in platform revenue to $1.6 million and a 36% year-over-year growth in Annual Recurring Revenue (ARR) to $6.8 million. Gross profit improved 19% with a total gross margin of 36.0%. However, the net loss widened to $0.02 per share from $0.01 in the previous year. The quarter saw a record 56 net new platform deployments and an incremental ARR of $0.6 million.
Research Solutions, Inc. (NASDAQ: RSSS), a leader in cloud-based workflow solutions for R&D organizations, will report its financial results for the fiscal second quarter ending December 31, 2021, on February 10, 2022, followed by a conference call at 5:00 p.m. ET. The call will be hosted by CEO Roy W. Olivier and CFO Bill Nurthen, including a Q&A session. Investors can join the call via toll-free and international dial-in numbers. A replay will be available the same day after 8:00 p.m. ET through March 10, 2022.
Research Solutions (NASDAQ: RSSS) has launched Article Galaxy Scholar (AGS), a cutting-edge platform designed for academic institutions. This innovative tool connects users to Open Access articles and facilitates interlibrary loans, ensuring users can access full-text articles with ease. AGS is integrated with existing library systems, delivers PDFs swiftly, and offers usage insights for better budget management. Libraries can customize controls to meet their needs, empowering them to manage costs effectively while improving user access.
Research Solutions, Inc. (NASDAQ: RSSS) reported its fiscal Q1 2022 results for the quarter ended September 30, 2021. Total revenue remained steady at $7.7 million, with platform revenue rising 32% to $1.5 million. Annual recurring revenue (ARR) grew by 33% to $6.3 million, while gross profit increased 9% year-over-year. However, the company incurred a net loss of $372,000 or ($0.01) per share, compared to a net income of $15,000 in the prior-year quarter. Operating expenses increased by 24.4% to $3.0 million.