Research Solutions, Inc. Provides Earnings Guidance for the Fiscal Fourth Quarter and Full Year Fiscal 2023
August 14, 2023 at 08:30 am EDT
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Research Solutions, Inc. provided earnings guidance for the fiscal fourth quarter and full year Fiscal 2023. Based on preliminary unaudited information, Research Solutions expects the following results for its fiscal fourth quarter 2023: Total revenue to increase 16% to approximately $10 million. Positive net income of approximately $0.8 million.
The Company also expects the following results for the full year Fiscal 2023: Total revenue to increase 14% to approximately $37.7 million, with organic growth of approximately 12% when excluding the revenue impact of customers from the Fiz acquisition. The organic growth rate is the best the Company has reported in more than a decade. Platform revenue to be up 28% to approximately $8.7 million and expects Positive fiscal year GAAP net income for the first time since fiscal year 2015.
Research Solutions, Inc. is a holding company. The Company provides two service offerings to its customers: a cloud-based software-as-a-service (SaaS) research platform (Platforms) typically sold through annual auto-renewing license agreements and the sale of published scientific, technical, and medical (STM) content sold as individual articles (Transactions) through the Platform. Its cloud-based SaaS research platform consists of proprietary software and Internet-based interfaces sold to customers for an annual subscription fee. Its platform allows customers to initiate orders, route orders for the lowest cost acquisition, manage transactions, obtain spending and usage reporting, automate authentication, and connect to in-house and third-party software systems. Customers can access the Platform through online Web interfaces and through Web service APIs that enable customers to leverage Platform features and functionality from within in-house and third-party software systems.
RESEARCH SOLUTIONS, INC. 
