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Document And Entity Information - shares | 9 Months Ended | |
---|---|---|
Mar. 31, 2021 | May 07, 2021 | |
Document And Entity Information | ||
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Entity Registrant Name | Research Solutions, Inc. | |
Title of 12(b) Security | Common stock, $0.001 par value | |
Trading Symbol | RSSS | |
Security Exchange Name | NASDAQ | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 26,352,008 | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001386301 | |
Amendment Flag | false |
Please wait while we load the requested 10-Q report or click the link below:
https://last10k.com/sec-filings/report/1386301/000155837021007086/rsss-20210331x10q.htm
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Research Solutions, Inc..
Research Solutions, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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Adjusted EBITDA has limitations as an analytical tool, which includes, among others, the following: Adjusted EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; Adjusted EBITDA does not reflect interest expense, or the cash requirements necessary to service interest or principal payments, on our debts; and Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements.
Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2020.
Set forth below is a reconciliation of Adjusted EBITDA to net income (loss) for the three and nine months ended March 31, 2021 and 2020: We present Adjusted EBITDA because we believe it assists investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance.
26 Sales and marketing 263,484 Decreased primarily due to lower advertising media spend and consulting expenses partially offset by greater personnel costs.
We apply the following five steps in order to determine the appropriate amount of revenue to be recognized as we fulfill our obligations under each of our agreements: identify the contract with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to performance obligations in the contract; and recognize revenue as the performance obligation is satisfied.
Technology and product development 127,957...Read more
Technology and product development 327,755...Read more
In addition, we use Adjusted...Read more
As of March 31, 2021,...Read more
To date, we have not...Read more
Furthermore, capital markets and economies...Read more
This increase was primarily due...Read more
19 Revenues are recognized when...Read more
We leverage our Platform's efficiencies...Read more
The difference between current and...Read more
The severity of the impact...Read more
In 28 evaluating Adjusted EBITDA,...Read more
However, Adjusted EBITDA is not...Read more
We provide two service offerings...Read more
Platforms 0.1 Decreased primarily due...Read more
In addition to our GAAP...Read more
Net cash provided by operating...Read more
Transactions 33,268 Decreased primarily due...Read more
Transactions 516,612 Decreased primarily due...Read more
27 Net cash provided by...Read more
Our presentation of Adjusted EBITDA...Read more
General and administrative 218,885 Decreased...Read more
The following table sets forth...Read more
There were no outstanding borrowings...Read more
We define Adjusted EBITDA as...Read more
Total revenue increased $365,735, or...Read more
We derive our revenues from...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Research Solutions, Inc. provided additional information to their SEC Filing as exhibits
Ticker: RSSS
CIK: 1386301
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-007086
Submitted to the SEC: Thu May 13 2021 4:27:38 PM EST
Accepted by the SEC: Thu May 13 2021
Period: Wednesday, March 31, 2021
Industry: Business Services