Research Solutions Reports Fourth Quarter and Fiscal Year 2025 Results
Research Solutions (NASDAQ: RSSS) reported strong financial results for Q4 and fiscal year 2025, highlighted by significant platform revenue growth and improved profitability. The company achieved 36% year-over-year platform revenue growth to $19.0 million and reached record Annual Recurring Revenue (ARR) of $20.9 million.
Key financial highlights include: total revenue increased 10% to $49.1 million for FY2025, gross margin improved 530 basis points to 49.3%, and the company reported net income of $1.3 million ($0.04 per diluted share) compared to a net loss in the previous year. The company achieved record Adjusted EBITDA of $5.3 million and record operating cash flow of $7.0 million.
The company's strategic shift towards SaaS software and AI solutions is showing success, with platform revenue now representing nearly 40% of total revenue, up from 31% in fiscal 2024. The AI-based Scite product demonstrated strong growth of over 40%.
Research Solutions (NASDAQ: RSSS) ha riportato solidi risultati finanziari nel quarto trimestre e nell'anno fiscale 2025, evidenziati da una crescita significativa delle entrate della piattaforma e da una redditività migliorata. L'azienda ha registrato una crescita delle entrate della piattaforma del 36% anno su anno a 19,0 milioni di dollari e ha raggiunto un ARR annuale record di 20,9 milioni.
Tra i principali indicatori finanziari: i ricavi totali sono aumentati del 10% a 49,1 milioni per FY2025, il margine lordo è migliorato di 530 punti base al 49,3%, e l'azienda ha riportato un utile netto di 1,3 milioni di dollari (0,04 dollari per azione diluita) rispetto a una perdita netta nell'anno precedente. Ha registrato un EBITDA rettificato record di 5,3 milioni e un flusso di cassa operativo record di 7,0 milioni.
Lo shift strategico dell'azienda verso soluzioni SaaS software e AI sta dando i suoi frutti, con i ricavi della piattaforma che ora rappresentano quasi il 40% del totale, rispetto al 31% nel 2024. Il prodotto basato sull'AI Scite ha mostrato una crescita forte di oltre 40%.
Research Solutions (NASDAQ: RSSS) informó resultados financieros sólidos para el cuarto trimestre y el año fiscal 2025, destacando un crecimiento significativo de los ingresos de la plataforma y una rentabilidad mejorada. La empresa logró un crecimiento interanual de los ingresos de la plataforma del 36% a 19,0 millones de dólares y alcanzó un ARR anual récord de 20,9 millones.
Los puntos clave incluyen: los ingresos totales aumentaron un 10% a 49,1 millones para FY2025, el margen bruto mejoró 530 puntos base a 49,3%, y la empresa reportó un beneficio neto de 1,3 millones de dólares (0,04 por acción diluida) frente a una pérdida neta en el año anterior. Se logró un EBITDA ajustado récord de 5,3 millones y un flujo de caja operativo récord de 7,0 millones.
El cambio estratégico hacia software SaaS y soluciones de IA está dando resultados, con los ingresos de la plataforma representando ahora casi el 40% del total, frente al 31% en 2024. El producto AI-based Scite mostró un crecimiento sólido de más del 40%.
Research Solutions (NASDAQ: RSSS)는 2025년 4분기와 회계연도 전체에 대해 플랫폼 매출의 큰 성장과 수익성 개선을 강조하는 강력한 재무 실적을 발표했습니다. 회사는 플랫폼 매출이 전년 대비 36% 증가한 1900만 달러를 달성했고, 연간 반복 매출(ARR) 2090만 달러의 사상 최고치를 기록했습니다.
주요 재무 하이라이트로는 FY2025 총매출이 전년 대비 10% 증가한 4910만 달러, 매출총이익률이 530bp 개선되어 49.3%를 기록했고, 순이익 130만 달러를 보고했으며 희석 주당 0.04달러였습니다(전년 대비 흑자 전환). 또한 조정 EBITDA 530만 달러의 기록적 수치를 달성했고 영업현금흐름 700만 달러의 기록도 달성했습니다.
SaaS 소프트웨어 및 AI 솔루션으로의 전략적 전환이 성과를 보이고 있으며, 플랫폼 매출이 총매출의 거의 40%를 차지하고 있습니다(2024년 31%에서 상승). AI 기반 Scite 제품은 40% 이상의 강력한 성장을 보였습니다.
Research Solutions (NASDAQ: RSSS) a publié des résultats financiers solides pour le quatrième trimestre et l'exercice 2025, mis en évidence par une forte croissance des revenus de la plateforme et une rentabilité améliorée. L'entreprise a enregistré une croissance des revenus de la plateforme de 36% en glissement annuel à 19,0 millions de dollars et a atteint un ARR annuel record de 20,9 millions.
Les points financiers clés incluent : un chiffre d'affaires total en hausse de 10% à 49,1 millions pour l'exercice 2025, une marge brute améliorée de 530 points de base à 49,3%, et l'entreprise a déclaré un résultat net de 1,3 million de dollars (0,04 dollar par action diluée) contre une perte nette l'année précédente. EBITDA ajusté record de 5,3 millions et flux de trésorerie opérationnel record de 7,0 millions.
La transition stratégique vers les solutions SaaS et l'IA porte ses fruits, les revenus de la plateforme représentant désormais près de 40% du chiffre d'affaires total, contre 31% en 2024. Le produit Scite basé sur l'IA a affiché une forte croissance de plus de 40%.
Research Solutions (NASDAQ: RSSS) meldete starke Finanzergebnisse für Q4 und das Geschäftsjahr 2025, hervorgehoben durch signifikantes Plattformumsatzwachstum und verbesserte Rentabilität. Das Unternehmen verzeichnete ein plattformumsatzwachstum von 36% year over year auf 19,0 Mio. USD und erreichte einen rekordverdächtigen Annual Recurring Revenue (ARR) von 20,9 Mio. USD.
Zu den wichtigsten finanziellen Highlights gehören: Der Gesamtumsatz stieg im FY2025 um 10% auf 49,1 Mio. USD, die Bruttomarge verbesserte sich um 530 Basispunkte auf 49,3%, und das Unternehmen meldete einen Nettogewinn von 1,3 Mio. USD (0,04 USD pro verwässerter Aktie) gegenüber einem Nettoverlust im Vorjahr. Rekord-Adjusted EBITDA von 5,3 Mio. USD und Rekord-operativer Cashflow von 7,0 Mio. USD.
Die strategische Verschiebung hin zu SaaS-Software und KI-Lösungen zahlt sich aus, wobei der Plattformumsatz nun nahezu 40% des Gesamtumsatzes ausmacht, gegenüber 31% im Geschäftsjahr 2024. Das KI-basierte Scite-Produkt verzeichnete ein starkes Wachstum von über 40%.
Research Solutions (NASDAQ: RSSS) أعلنت عن نتائج مالية قوية للربع الرابع وللسنة المالية 2025، مع إبراز نمو كبير في إيرادات المنصة وتحسن الربحية. حققت الشركة نموًا في إيرادات المنصة بنسبة 36% على أساس سنوي لتصل إلى 19.0 مليون دولار وبلغ إيرادات متكررة سنوية (ARR) قياسية قدرها 20.9 مليون دولار.
أبرز النقاط المالية تشمل: إجمال الإيرادات ارتفع بنسبة 10% إلى 49.1 مليون دولار للسنة المالية 2025، وتحسن الهامش الإجمالي بمقدار 530 نقطة أساس ليصل إلى 49.3%، وحققت الشركة صافي ربح قدره 1.3 مليون دولار (0.04 دولار للسهم المخفف) مقارنة بخسارة صافية في العام السابق. حققت EBITDA المعدل القياسي 5.3 مليون دولار وتدفق نقدي تشغيلي قياسي قدره 7.0 مليون دولار.
التحوّل الاستراتيجي نحو برامج SaaS وحلول الذكاء الاصطناعي يثبت نجاحه، حيث يمثل إيرادات المنصة الآن نحو 40% من إجمالي الإيرادات، مرتفعًا من 31% في السنة المالية 2024. أظهر منتج Scite القائم على AI نموًا قويًا يفوق 40%.
Research Solutions(纳斯达克股票代码:RSSS)在第四季度和2025财年实现强劲业绩,重点在于平台收入的显著增长及盈利能力的改善。公司实现平台收入同比增长36%,至1900万美元,并达到创纪录的年度经常性收入ARR:2090万美元。
主要财务亮点包括:全年总收入同比增长10%,达到4910万美元;毛利率提升530个基点至49.3%;并实现净利润<最大化>1.3百万美元(摊薄后每股0.04美元),相较于上年净亏损。调整后EBITDA创纪录的530万美元,经营现金流创纪录的700万美元。
向SaaS软件和AI解决方案的战略转型正在带来成效,平台收入现已约占总收入的40%,较2024财年的31%有所提升。基于AI的Scite产品实现超过40%的强劲增长。
- Platform revenue grew 36% year-over-year to $19.0 million
- Record Annual Recurring Revenue (ARR) of $20.9 million, up 20% year-over-year
- Gross margin improved 530 basis points to 49.3%
- Record Adjusted EBITDA of $5.3 million, up 134.8% from previous year
- Record operating cash flow of $7.0 million, nearly double from previous year
- AI-based Scite product showing over 40% growth rate
- Strong cash position of $12.2 million at fiscal year-end
- Transaction revenue declined 7.7% in Q4 and 1.8% for the full year
- Transaction customer count decreased 4.3% to 1,338 customers
- Operating expenses increased 6.3% to $21.7 million for the full year
- Sales and marketing expenses increased significantly by 55.7%
Insights
Research Solutions delivered record profits with strong platform revenue growth and improving margins, reflecting successful SaaS transition.
Research Solutions reported impressive fourth quarter and full-year results that demonstrate the company's successful transition to a higher-margin SaaS business model. Platform revenue, which represents the company's subscription-based services, grew
This strategic shift has significantly enhanced the company's profitability metrics. Gross margins crossed the
The Annual Recurring Revenue (ARR) metric, which indicates the predictability of future revenue streams, grew
Particularly noteworthy is the performance of the company's AI capabilities, specifically the Scite product, which is growing at over
The company ended the fiscal year with
Reports
Fiscal Fourth Quarter 2025 Summary (compared to prior-year quarter)
- Platform revenue up
21% to$5.2 million . Annual Recurring Revenue ("ARR") up20% to$20.9 million , which includes approximately of B2B recurring revenue and$14.2 million of B2C recurring revenue.$6.7 million - Total revenue of
, a$12.4 million 3% increase. - Gross profit up
12% . Total gross margin improved 450 basis points to51% , crossing50% on a blended basis for the first time in the Company's history. - Net income of
, or$2.4 million per diluted share, compared to net loss of$0.07 or ($2.8 million ) per share. This quarter's result includes a$0.09 favorable adjustment related to the final earnout adjustment for Scite. Last year's result included a negative adjustment charge in other expense of approximately$1.1 million related to the projected earnout for Scite.$4.3 million - Adjusted EBITDA increased
15% to a Company record of .$1.6 million - Cash flow from operations of
, compared to$2.3 million .$2.0 million
Fiscal Year 2025 Summary (compared to Fiscal 2024)
- Platform revenue up
36% to$19.0 million . - Total revenue of
, a$49.1 million 10% increase. - Gross profit up
23% . Total gross margin improved 530 basis points to49.3% . - Net income of
, or$1.3 million per diluted share, compared to a net loss of$0.04 , or ($3.8 million ) per share. This year's result includes$0.13 of net other expense related to the Scite earn-out compared to$1.7 million of net other expense related to the Scite earnout in fiscal 2024.$5.1 million - Adjusted EBITDA of
, a Company record, compared to$5.3 million .$2.2 million - Cash flow from operations of
, a Company record, compared to$7.0 million . The Company ended the fiscal year with$3.6 million in cash and cash equivalents.$12.2 million
"Fiscal 2025 reflects a year of significant progress in our ongoing SaaS software and AI solution set transition, with our platform revenue now representing nearly
Fiscal Fourth Quarter 2025 Results
Total revenue was
Platform subscription revenue for the quarter was
Transaction revenue was
Total gross margin improved 450 basis points from the prior-year quarter to
Total operating expenses were
Other income for the quarter was approximately
Net income in the fourth quarter was
Full-Year Fiscal 2025 Results
Total revenue was
Platform subscription revenue for fiscal 2025 was
Transaction revenue was
Total gross margin improved 530 basis points from the prior-year to
Total operating expenses for the year were
Net income for fiscal 2025 was
Conference Call
Research Solutions President and CEO Roy W. Olivier and CFO Bill Nurthen will host the conference call, followed by a question and answer period.
Date: Thursday, September 18, 2025
Time: 5:00 p.m. ET (2:00 p.m. PT)
Dial-in number: 1-203-518-9783
Conference ID: RESEARCH
The conference call will be broadcast live and available for replay until October 18, 2025 by dialing 1-412-317-6671 and using the replay ID 11159860, and via the investor relations section of the Company's website at http://researchsolutions.investorroom.com/.
Fiscal Fourth Quarter Financial and Operational Summary Tables vs. Prior-Year Quarter
Quarter Ended June 30, | Twelve Months Ended June 30, | |||||||||
2025 | 2024 | Change | % Change | 2025 | 2024 | Change | % Change | |||
Revenue: | ||||||||||
Platforms | $ 5,184,864 | $ 4,277,338 | $ 907,526 | 21.2 % | $ 18,955,695 | $ 13,956,517 | $ 4,999,178 | 35.8 % | ||
Transactions | $ 7,253,053 | $ 7,856,176 | (603,123) | -7.7 % | $ 30,102,286 | $ 30,667,382 | (565,096) | -1.8 % | ||
Total Revenue | 12,437,917 | 12,133,514 | 304,403 | 2.5 % | 49,057,981 | 44,623,899 | 4,434,082 | 9.9 % | ||
Gross Profit: | ||||||||||
Platforms | 4,590,639 | 3,650,286 | 940,353 | 25.8 % | 16,584,155 | 11,889,314 | 4,694,841 | 39.5 % | ||
Transactions | 1,751,263 | 1,992,580 | (241,317) | -12.1 % | 7,611,796 | 7,750,852 | (139,056) | -1.8 % | ||
Total Gross Profit | 6,341,902 | 5,642,866 | 699,036 | 12.4 % | 24,195,951 | 19,640,166 | 4,555,785 | 23.2 % | ||
Gross profit as a % of revenue: | ||||||||||
Platforms | 88.5 % | 85.3 % | 3.2 % | 87.5 % | 85.2 % | 2.3 % | ||||
Transactions | 24.1 % | 25.4 % | -1.2 % | 25.3 % | 25.3 % | 0.0 % | ||||
Total Gross Profit | 51.0 % | 46.5 % | 4.5 % | 49.3 % | 44.0 % | 5.3 % | ||||
Operating Expenses: | ||||||||||
Sales and marketing | 1,219,184 | 830,195 | 388,989 | 46.9 % | 5,360,356 | 3,442,503 | 1,917,853 | 55.7 % | ||
Technology and product development | 1,356,801 | 1,489,491 | (132,690) | -8.9 % | 5,631,344 | 5,442,382 | 188,962 | 3.5 % | ||
General and administrative | 2,152,855 | 1,917,907 | 234,948 | 12.3 % | 7,936,644 | 8,511,697 | (575,053) | -6.8 % | ||
Depreciation and amortization | 315,021 | 311,004 | 4,017 | 1.3 % | 1,245,362 | 836,271 | 409,091 | 48.9 % | ||
Stock-based compensation | 176,611 | 426,190 | (249,579) | -58.6 % | 1,723,561 | 2,155,461 | (431,900) | -20.0 % | ||
Foreign currency translation loss (gain) | (83,322) | 6,336 | (89,658) | NM | (202,527) | 21,395 | (223,922) | NM | ||
Total Operating Expenses | 5,137,150 | 4,981,123 | 156,027 | 3.1 % | 21,694,740 | 20,409,709 | 1,285,031 | 6.3 % | ||
Income (loss) from operations | 1,204,752 | 661,743 | 543,009 | 82.1 % | 2,501,211 | (769,543) | 3,270,754 | NM | ||
Other Income (Expenses): | ||||||||||
Other income (expenses) | 1,163,557 | (3,451,948) | 4,615,505 | NM | (1,152,847) | (2,903,983) | 1,751,136 | NM | ||
Provision for income taxes | (7,995) | (31,022) | 23,027 | -74.2 % | (82,811) | (113,071) | 30,260 | -26.8 % | ||
Total Other Income (Expenses): | 1,155,562 | (3,482,970) | 4,638,532 | NM | (1,235,658) | (3,017,054) | 1,781,396 | NM | ||
Net income (loss) | $ 2,360,314 | $ (2,821,227) | 5,181,541 | NM | $ 1,265,553 | $ (3,786,597) | 5,052,150 | NM | ||
NM | ||||||||||
Adjusted EBITDA | $ 1,613,062 | $ 1,405,273 | $ 207,789 | 14.8 % | $ 5,267,607 | $ 2,243,584 | $ 3,024,023 | 134.8 % | ||
Quarter Ended June 30, | Twelve Months Ended June 30, | |||||||||
2025 | 2024 | Change | % Change | 2025 | 2024 | Change | % Change | |||
Platforms: | ||||||||||
B2B ARR (Annual recurring revenue*): | ||||||||||
Beginning of Period | $ 13,474,074 | $ 11,653,062 | $ 1,821,012 | 15.6 % | $ 12,060,201 | $ 9,444,129 | $ 2,616,072 | 27.7 % | ||
Incremental ARR | 723,524 | 407,139 | 316,385 | 77.7 % | 2,137,397 | 2,616,072 | (478,675) | -18.3 % | ||
End of Period | $ 14,197,598 | $ 12,060,201 | $ 2,137,397 | 17.7 % | $ 14,197,598 | $ 12,060,201 | $ 2,137,397 | 17.7 % | ||
Deployments: | ||||||||||
Beginning of Period | 1,133 | 983 | 150 | 15.3 % | 1,021 | 835 | 186 | 22.3 % | ||
Incremental Deployments | 38 | 38 | - | 0.0 % | 150 | 186 | (36) | -19.4 % | ||
End of Period | 1,171 | 1,021 | 150 | 14.7 % | 1,171 | 1,021 | 150 | 14.7 % | ||
ASP (Average sales price): | ||||||||||
Beginning of Period | $ 11,892 | $ 11,855 | $ 38 | 0.3 % | $ 11,812 | $ 11,310 | $ 502 | 4.4 % | ||
End of Period | $ 12,124 | $ 11,812 | $ 312 | 2.6 % | $ 12,124 | $ 11,812 | $ 312 | 2.6 % | ||
B2C ARR (Annual recurring revenue*): | ||||||||||
Beginning of Period | $ 6,877,926 | $ 4,902,975 | $ 1,974,951 | NM | $ 5,363,129 | $ - | $ 5,363,129 | NM | ||
Incremental ARR | (156,570) | 460,154 | (616,724) | NM | 1,358,227 | 5,363,129 | (4,004,902) | NM | ||
End of Period | $ 6,721,356 | $ 5,363,129 | $ 1,358,227 | 25.3 % | $ 6,721,356 | $ 5,363,129 | $ 1,358,227 | 25.3 % | ||
Total ARR (Annualized recurring revenue): | $ 20,918,954 | $ 17,423,330 | $ 3,495,624 | 20.1 % | $ 20,918,954 | $ 17,423,330 | $ 3,495,624 | 20.1 % | ||
Transaction Customers: | ||||||||||
Corporate customers | 1,028 | 1,093 | (65) | -5.9 % | 1,053 | 1,088 | (35) | -3.2 % | ||
Academic customers | 310 | 305 | 5 | 1.6 % | 320 | 316 | 4 | 1.3 % | ||
Total customers | 1,338 | 1,398 | (60) | -4.3 % | 1,373 | 1,404 | (31) | -2.2 % |
Active Customer Accounts, Transactions and Annual Recurring Revenue
The Company defines active customer accounts as the sum of the total quantity of customers per month for each month in the period divided by the respective number of months in the period. The quantity of customers per month is defined as customers with at least one transaction during the month.
A transaction is an order for a unit of copyrighted content fulfilled or managed in the Platform.
The Company defines annual recurring revenue ("ARR") as the value of contracted Platform subscription recurring revenue normalized to a one-year period. For B2C ARR, this includes the annualized value of monthly subscriptions, meaning their monthly value multiplied by twelve.
Use of Non-GAAP Measure – Adjusted EBITDA
Research Solutions' management evaluates and makes operating decisions using various financial metrics. In addition to the Company's GAAP results, management also considers the non-GAAP measure of Adjusted EBITDA. Management believes that this non-GAAP measure provides useful information about the Company's operating results.
The tables below provide a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure. Adjusted EBITDA is defined as net income (loss), plus interest expense, other (income) expense, foreign currency transaction (gain) loss, provision for income taxes, depreciation and amortization, stock-based compensation, and other potential adjustments that may arise. Set forth below is a reconciliation of Adjusted EBITDA to net income (loss):
Quarter Ended June 30, | Twelve Months Ended June 30, | |||||||||
2025 | 2024 | Change | % Change | 2025 | 2024 | Change | % Change | |||
Net Income (loss) | $ 2,360,314 | $ (2,821,227) | $ 5,181,541 | NM | $ 1,265,553 | $ (3,786,597) | $ 5,052,150 | NM | ||
Add (deduct): | ||||||||||
Other (income) expense | (1,163,557) | 3,451,948 | (4,615,505) | NM | 1,152,847 | 2,903,983 | (1,751,136) | NM | ||
Foreign currency translation loss (gain) | (83,322) | 6,336 | (89,658) | NM | (202,527) | 21,395 | (223,922) | NM | ||
Provision for income taxes | 7,995 | 31,022 | (23,027) | -74.2 % | 82,811 | 113,071 | (30,260) | -26.8 % | ||
Depreciation and amortization | 315,021 | 311,004 | 4,017 | 1.3 % | 1,245,362 | 836,271 | 409,091 | 48.9 % | ||
Stock-based compensation | 176,611 | 426,190 | (249,579) | -58.6 % | 1,723,561 | 2,155,461 | (431,900) | -20.0 % | ||
Adjusted EBITDA | $ 1,613,062 | $ 1,405,273 | $ 207,789 | 14.8 % | $ 5,267,607 | $ 2,243,584 | $ 3,024,023 | 134.8 % | ||
About Research Solutions
Research Solutions, Inc. (NASDAQ: RSSS) is a vertical SaaS and AI Company that simplifies research workflow for academic institutions, life science companies, and research organizations worldwide. As one of the only publisher-independent marketplaces for scientific, technical, and medical (STM) content, the Company uniquely combines AI-powered tools—including an intelligent research assistant and full-text search capabilities—with seamless access to both open access and paywalled research. The platform enables organizations to discover, access, manage and analyze scientific literature more efficiently, accelerating the pace of scientific discovery. For more information and details, please visit www.researchsolutions.com.
Important Cautions Regarding Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects", "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may," or variations of such words, and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties and assumptions that are difficult to predict, estimate or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company's most recent annual report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on Form 10-Q, or other reports filed with the Securities and Exchange Commission. Examples of forward-looking statements in this release include statements regarding enhanced product offerings, additional customers, creating long-term value for shareholders and the Company's prospects for growth. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company's filings with the Securities and Exchange Commission.
Research Solutions, Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) | ||||||
June 30, | June 30, | |||||
2025 | 2024 | |||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 12,227,312 | $ | 6,100,031 | ||
Accounts receivable, net of allowance of | 7,191,234 | 6,879,800 | ||||
Prepaid expenses and other current assets | 580,257 | 643,553 | ||||
Prepaid royalties | 925 | 1,067,237 | ||||
Total current assets | 19,999,728 | 14,690,621 | ||||
Non-current assets: | ||||||
Property and equipment, net of accumulated depreciation of | 60,769 | 88,011 | ||||
Intangible assets, net of accumulated amortization of | 9,686,241 | 10,764,261 | ||||
Goodwill | 16,372,979 | 16,315,888 | ||||
Deposits and other assets | 957 | 981 | ||||
Total assets | $ | 46,120,674 | $ | 41,859,762 | ||
Liabilities and Stockholders' Equity | ||||||
Current liabilities: | ||||||
Accounts payable and accrued expenses | $ | 7,443,757 | $ | 8,843,612 | ||
Deferred revenue | 10,702,120 | 9,023,848 | ||||
Contingent earnout liability, current portion | 7,363,152 | — | ||||
Total current liabilities | 25,509,029 | 17,867,460 | ||||
Non-current liabilities: | ||||||
Contingent earnout liability, long-term portion | 6,683,488 | 12,298,114 | ||||
Total liabilities | 32,192,517 | 30,165,574 | ||||
Commitments and contingencies | ||||||
Stockholders' equity: | ||||||
Preferred stock; | — | — | ||||
Common stock; | 32,480 | 32,295 | ||||
Additional paid-in capital | 39,059,557 | 38,089,958 | ||||
Accumulated deficit | (25,043,693) | (26,309,246) | ||||
Accumulated other comprehensive loss | (120,187) | (118,819) | ||||
Total stockholders' equity | 13,928,157 | 11,694,188 | ||||
Total liabilities and stockholders' equity | $ | 46,120,674 | $ | 41,859,762 |
Research Solutions, Inc. and Subsidiaries Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Unaudited)
| ||||||
Years Ended | ||||||
June 30, | ||||||
2025 | 2024 | |||||
Revenue: | ||||||
Platforms | $ | 18,955,695 | $ | 13,956,517 | ||
Transactions | 30,102,286 | 30,667,382 | ||||
Total revenue | 49,057,981 | 44,623,899 | ||||
Cost of revenue: | ||||||
Platforms | 2,371,540 | 2,067,203 | ||||
Transactions | 22,490,490 | 22,916,530 | ||||
Total cost of revenue | 24,862,030 | 24,983,733 | ||||
Gross profit | 24,195,951 | 19,640,166 | ||||
Operating expenses: | ||||||
Selling, general and administrative | 20,449,378 | 19,573,438 | ||||
Depreciation and amortization | 1,245,362 | 836,271 | ||||
Total operating expenses | 21,694,740 | 20,409,709 | ||||
Income (loss) from operations | 2,501,211 | (769,543) | ||||
Other income | 595,679 | 333,088 | ||||
Change in fair value of contingent earnout liability | (1,748,526) | (3,237,071) | ||||
Income (loss) before provision for income taxes | 1,348,364 | (3,673,526) | ||||
Provision for income taxes | (82,811) | (113,071) | ||||
Net income (loss) | 1,265,553 | (3,786,597) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (1,368) | (595) | ||||
Comprehensive income (loss) | $ | 1,264,185 | $ | (3,787,192) | ||
Basic income (loss) per common share: | ||||||
Net income (loss) per share | $ | 0.04 | $ | (0.13) | ||
Weighted average common shares outstanding | 30,681,187 | 28,863,949 | ||||
Diluted income (loss) per common share: | ||||||
Net income (loss) per share | $ | 0.04 | $ | (0.13) | ||
Weighted average common shares outstanding | 31,503,972 | 28,863,949 |
Research Solutions, Inc. and Subsidiaries Consolidated Statements of Cash Flows (Unaudited) | ||||||
Years Ended | ||||||
June 30, | ||||||
2025 | 2024 | |||||
Cash flow from operating activities: | ||||||
Net income (loss) | $ | 1,265,553 | $ | (3,786,597) | ||
Adjustment to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | 1,245,362 | 836,271 | ||||
Stock options expense | 205,457 | 140,150 | ||||
Restricted common stock expense | 1,518,104 | 1,994,362 | ||||
Modification cost of accelerated vesting of restricted common stock | — | 20,949 | ||||
Adjustment to contingent earnout liability | 1,748,526 | 3,237,071 | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | (341,434) | (344,020) | ||||
Prepaid expenses and other current assets | 63,296 | (164,579) | ||||
Prepaid royalties | 1,066,312 | 135,441 | ||||
Accounts payable and accrued expenses | (1,426,282) | 560,027 | ||||
Deferred revenue | 1,678,272 | 921,879 | ||||
Net cash provided by operating activities | 7,023,166 | 3,550,954 | ||||
Cash flow from investing activities: | ||||||
Purchase of property and equipment | (19,261) | (71,510) | ||||
Payment for acquisition of Resolute, net of cash acquired | — | (2,718,253) | ||||
Payment for acquisition of Scite, net of cash acquired | — | (7,305,493) | ||||
Net cash used in investing activities | (19,261) | (10,095,256) | ||||
Cash flow from financing activities: | ||||||
Proceeds from the exercise of stock options | 180,800 | — | ||||
Common stock repurchase | (934,577) | (554,202) | ||||
Payment of contingent acquisition consideration | (124,107) | (351,649) | ||||
Net cash used in financing activities | (877,884) | (905,851) | ||||
Effect of exchange rate changes | 1,260 | 4,851 | ||||
Net increase (decrease) in cash and cash equivalents | 6,127,281 | (7,445,302) | ||||
Cash and cash equivalents, beginning of period | 6,100,031 | 13,545,333 | ||||
Cash and cash equivalents, end of period | $ | 12,227,312 | $ | 6,100,031 | ||
Supplemental disclosures of cash flow information: | ||||||
Cash paid for income taxes | $ | 82,811 | $ | 113,071 | ||
Non-cash investing and financing activities: | ||||||
Contingent consideration accrual on asset acquisition | $ | 31,359 | $ | 32,022 |
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SOURCE Research Solutions, Inc.