Research Solutions, Inc. (RSSS) 10-K Annual Report September 2016

On a Preliminary Basis, Total Article Galaxy Revenue Increased by 13% to a Record $24.1 Million in Fiscal 2016, with 59 Article Galaxy SaaS Platform Deployments at Year End

ENCINO, Calif. – September 7, 2016 –

Research Solutions, Inc. (OTCQB: RSSS), a pioneer in providing on-demand access to scientific, technical and medical (STM) information for life science companies, academic institutions, and other research intensive organizations, reported preliminary results for its fiscal fourth quarter and full year ended June 30, 2016. All quarterly comparisons are to the same year-ago quarter.

Beginning this quarter, the company has begun to report its Article Galaxy’s subscriptions and transactions results separately: Article Galaxy SaaS Platforms represent customer deployments that provide premium access to Article Galaxy on a subscription basis, and Article Galaxy Transactions that represent all customer transactions conducted via both premium and standard access.

Fiscal Fourth Quarter 2016 Highlights

Total revenue was up 10% to 8.3 million, with adjusted EBITDA up 61% to $162,000.

Active Article Galaxy Transaction customer accounts increased 12% to 909.

Article Galaxy transactions increased 17% to a 192,000, increasing related revenue by 12% to $6.0 Million and gross profit up 8% to $1.3 million. (See definitions of transactions and active customer accounts in the section, “About Transactions and Active Customer Accounts,” below.)

Fiscal Full Year 2016 Highlights

Total revenue was up 8% to a $34.4 million, with adjusted EBITDA lower by 37% to $389,000.

Number of Article Galaxy SaaS Platform deployments increased 210% to 59, increasing related revenue by 127% to $402,000, and subscription-based annual billing run-rate by 146% to $581,000.

Article Galaxy transactions increased 23% to 742,000, driving related revenue up 12% to a record $23.7 Million and gross profit up 4% to $5.3 million.

Active Article Galaxy Transaction customer accounts increased 14% to 873, with corporate customer up 9% to 733, and academic customers up 48% to 140.

Cash and equivalents at June 30, 2016 totaled $6.1 million versus $1.4 million at June 30, 2015

Management Commentary

“Throughout fiscal 2016, Article Galaxy platform deployments and transactions continued to gain momentum,” said Research Solutions president and CEO, Peter Derycz. “These strong results reflect our increasing focus on our newer line of higher margin, subscription-based Article Galaxy SaaS Platform deployments that provide premium features and functionality for our customers.

“In fact, by yearend, we had 59 premium platform deployments, or nearly three times more than last year, which were generating an annual run rate of $581,000 in subscription-based revenue. We has previously combined Article Galaxy Transactions and SaaS Platforms into one line, but now given this significant amount of subscription revenue and the difference in gross margin, it seemed appropriate to begin breaking it out.

The following information was filed by Research Solutions, Inc. (RSSS) on Wednesday, September 7, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1386301/000114420416124557/v448490_10k.htm

View differences made from one year to another to evaluate Research Solutions, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Research Solutions, Inc..

Continue

Assess how Research Solutions, Inc.'s management team is paid from their Annual Proxy

Research Solutions, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Research Solutions, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.32: Material Contract

Exhibit 10.33: Material Contract

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: RSSS
CIK: 1386301
Form Type: 10-K Annual Report
Accession Number: 0001144204-16-124557
Submitted to the SEC: Tue Sep 20 2016 4:02:02 PM EST
Accepted by the SEC: Tue Sep 20 2016
Period: Thursday, June 30, 2016
Industry: Business Services

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/rsss/0001144204-16-124557.htm

Research Solutions, Inc. (RSSS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, June 30, 2016

SEC Filings

RSSS Valuations

RSSS Annual Reports

RSSS Quarterly Reports

RSSS Corporate News