Research Solutions, Inc. (RSSS) Reports Q2 Loss of $0.01
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Research Solutions, Inc. (NASDAQ: RSSS) reported Q2 EPS of ($0.01), versus ($0.03) reported last year. Revenue for the quarter came in at $7.45 million, versus $7.53 million reported last year.
Fiscal Second Quarter 2021 Summary Compared to Prior Year Quarter:
- Platform revenue increased 29% to $1.2 million, Annual recurring revenue increased 35% to $5.0 million
- Total gross margin improved 190 basis points to 32.1%
- Total revenue decreased 1% to $7.4 million
- Net loss of $(261,000), an improvement of $332,000; loss per share of $(0.01), a two-cent improvement
- Adjusted EBITDA of $161,000, an improvement of $345,000
"I am pleased with the continued momentum within our Platforms business with 29 net deployments in the second quarter, and surpassing the $5 million mark for Annual Recurring Revenue, representing a 35% increase from the same quarter a year ago," said Peter Derycz, President and CEO of Research Solutions. "While our total transaction count is steadily increasing, the number of paid transactions is decreasing as we continue to transition away from new, large transaction customers in favor of higher margin SMB platform customers. This is, in part, why our transaction revenue decreased in the second quarter."
For earnings history and earnings-related data on Research Solutions, Inc. (RSSS) click here.
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