Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1386301/000155837023015811/rsss-20230630x10k.htm
SEC Filings
RSSS Annual Reports
RSSS Quarterly Reports
10-Q Quarterly Report May 2023
10-Q Quarterly Report February 2023
10-Q Quarterly Report November 2022
10-Q Quarterly Report May 2022
10-Q Quarterly Report February 2022
10-Q Quarterly Report November 2021
10-Q Quarterly Report May 2021
10-Q Quarterly Report February 2021
10-Q Quarterly Report November 2020
10-Q Quarterly Report May 2020
10-Q Quarterly Report May 2023
10-Q Quarterly Report February 2023
10-Q Quarterly Report November 2022
10-Q Quarterly Report May 2022
10-Q Quarterly Report February 2022
10-Q Quarterly Report November 2021
10-Q Quarterly Report May 2021
10-Q Quarterly Report February 2021
10-Q Quarterly Report November 2020
10-Q Quarterly Report May 2020
RSSS Corporate News
Event for Officers
Financial Exhibit
New Agreement
Other Events September 2023
Earnings Release
Financial Exhibit September 2023
Event for Officers
Other Events August 2023
Financial Exhibit
Regulated Disclosure August 2023
Earnings Release
Financial Exhibit August 2023
Financial Exhibit
Other Events August 2023
Financial Exhibit
New Agreement
New Financial Obligation July 2023
Earnings Release
Financial Exhibit May 2023
Regulated Disclosure March 2023
Regulated Disclosure March 2023
Event for Officers
Financial Exhibit
New Agreement
Other Events
Financial Exhibit
New Agreement
Other Events
September 2023
Earnings Release
Financial Exhibit
Financial Exhibit
September 2023
Event for Officers
Other Events
Other Events
August 2023
Financial Exhibit
Regulated Disclosure
Regulated Disclosure
August 2023
Earnings Release
Financial Exhibit
Financial Exhibit
August 2023
Financial Exhibit
Other Events
Other Events
August 2023
Financial Exhibit
New Agreement
New Financial Obligation
New Agreement
New Financial Obligation
July 2023
Earnings Release
Financial Exhibit
Financial Exhibit
May 2023
Regulated Disclosure
March 2023
Regulated Disclosure
March 2023
Last10K.com | 10-K Annual Report Fri Sep 15 2023
Exhibit 99.1
FOR IMMEDIATE RELEASE
Research Solutions Announces Fiscal Fourth Quarter and Full Year 2023 Results
Reports Full-Year GAAP Net Income, Record Adjusted EBITDA and 28% Increase in Platform Revenue
HENDERSON, Nev., September 13, 2023 — Research Solutions, Inc. (NASDAQ: RSSS), a pioneer in providing cloud-based workflow solutions for R&D driven organizations, reported financial results for its fiscal fourth quarter and full year ended June 30, 2023.
Fiscal Fourth Quarter 2023 Summary
| • | Total revenue increased 16% to $10.0 million |
| • | Platform revenue up 22% to $2.3 million; Annual recurring revenue up 19% to $9.4 million |
| • | Gross profit up 19% to the prior-year quarter; Total gross margin improved 110 basis points to 39.4% |
| • | Net income of $375,746 or one cent per diluted share, compared to a net loss of ($438,267) or one cent per share in the prior-year quarter |
| • | Adjusted EBITDA of $825,087 compared to ($121,327) in the same period a year ago |
| • | Cash flow from operations of $1.5 million compared to slightly negative cash flow in the prior-year quarter |
Full-Year Fiscal 2023 Summary
| • | Total revenue increased 14% to $37.7 million |
| • | Platform revenue of $8.7 million, a 28% increase, with a 14% increase in total deployments to 835 |
| • | Total gross margin increased 250 basis points to 39.0% |
| • | Net income of $0.6 million, or $0.02 per diluted share, compared to a net loss of $1.6 million or ($0.06) per share in the prior year |
| • | Adjusted EBITDA of $2.0 million compared to ($0.4 million) in the previous year |
| • | Cash flow from operations of $3.4 million, compared to ($0.4 million) in the previous year |
The following information was filed by Research Solutions, Inc. (RSSS) on Wednesday, September 13, 2023 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.
View differences made from one year to another to evaluate Research Solutions, Inc.'s financial trajectory
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..
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 2023 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
Rating
Learn More
Filter Sentiment:
Filter Category:
Filter Subcategory:
-
Financial - Expense Highlight
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.
-
Financial - Expense Highlight
However, there is a risk that our operating costs could become subject to inflationary and interest rate pressures in the future, which would have the effect of increasing our operating costs, and which would put additional stress on our working capital resources.
-
Revenue - Product Highlight
Transactions $ 2,873,826 Increased due to higher paid order volume and pricing initiatives, including additional paid order volume due to the FIZ asset acquisition which was effective January 1, 2023.
-
Financial - Expense Highlight
Platforms 2.0 % Decreased primarily due to lower software expense and proportionally lower personnel costs.
-
Financial - Earnings Highlight
Set forth below is a reconciliation of Adjusted EBITDA to net income (loss) for the year ended June 30, 2023 and 2022: 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.
-
Revenue - Product
We apply the following five...Read more
-
M & A - Other
In addition, we use Adjusted...Read more
-
Other - Other
Inflation Risk We do not...Read more
-
Other - Other
Liquidity As of June 30,...Read more
-
Other - Other
This increase was primarily due...Read more
-
Financial - Earnings
Operating Activities Net cash provided...Read more
-
Revenue - Product
Revenues are recognized when control...Read more
-
Financial - Expense
We leverage our Platform's efficiencies...Read more
-
Financial - Expense
In evaluating Adjusted EBITDA, you...Read more
-
Financial - Earnings
However, Adjusted EBITDA is not...Read more
-
M & A - Other
Financing Activities Net cash used...Read more
-
Legal - Other
General and administrative ? $...Read more
-
Other - Other
In addition to our GAAP...Read more
-
Financial - Expense
Cost of Revenue ? ?...Read more
-
Other - Other
Our presentation of Adjusted EBITDA...Read more
-
Revenue - Product
The following table summarizes the...Read more
-
Other - Other
There were no outstanding borrowings...Read more
-
Financial - Earnings
We define Adjusted EBITDA as...Read more
-
Revenue - Product
We derive our revenues from...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Operations And Other Comprehensive Income (Loss)
Acquisition
Acquisition (Details)
Contingencies And Commitments
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Provision For Income Taxes (Details)
Income Taxes - Reconciliation Of The Effective Income Tax Rate (Details)
Income Taxes - Significant Components Of The Company's Deferred Tax Assets And Liabilities (Details)
Intangible Assets
Intangible Assets (Details)
Intangible Assets (Tables)
Intangible Assets - Additional Information (Details)
Line Of Credit
Line Of Credit (Details)
Organization, Nature Of Business And Basis Of Presentation
Organization, Nature Of Business And Basis Of Presentation (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Options Narrative (Details)
Stockholders' Equity - Repurchases Of Our Common Stock (Details)
Stockholders' Equity - Restricted Common Stock (Details)
Stockholders' Equity - Restricted Common Stock Narrative (Details)
Stockholders' Equity - Stock Option Activity (Details)
Stockholders' Equity - Stock Options By Exercise Price (Details)
Stockholders' Equity - Valuation Assumptions (Details)
Stockholders' Equity - Warrant Activity (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Concentrations (Details)
Summary Of Significant Accounting Policies - Exchange Rates (Details)
Summary Of Significant Accounting Policies - Revenue (Details)
Material Contracts, Statements, Certifications & more
Research Solutions, Inc. provided additional information to their SEC Filing as exhibits
Exhibit 10.26: Material Contract
Exhibit 10.28: Material Contract
Exhibit 21: Subsidaries Of The Registrant
Exhibit 23: 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: 0001558370-23-015811
Submitted to the SEC: Fri Sep 15 2023 4:03:12 PM EST
Accepted by the SEC: Fri Sep 15 2023
Period: Friday, June 30, 2023
Industry: Business Services
External Resources:
Stock Quote
Social Media
SEC.gov
Bookmark the Permalink: https://last10k.com/sec-filings/rsss/0001558370-23-015811.htm
SEC Filing Exhibit
PDF Download
Loading SEC Filing Exhibit...
Excel DownloadLoading SEC Filing Financial Summary...