Research Solutions, Inc. (NASDAQ: RSSS) reported Q4 revenue for the quarter came in at $7.9 million, versus $7.5 million reported last year.

Fiscal Fourth Quarter 2020 Highlights

• Total revenue increased 5.5% to $7.9 million
• Platform revenue up 33% to $1.1 million, Annual recurring revenue up 38% to $4.4 million.
• Transaction revenue increased 2% to $6.8 million
• Total gross margin improved 200 basis points to 31.8%.
• Earnings of nil per share, unchanged from the prior-year quarter
• Adjusted EBITDA of $146,000, an improvement of $187,000

"Our fourth quarter and fiscal 2020 results reflect the continued momentum across our organization, including the uplisting of our stock to the NASDAQ market on March 23rd. We set another record for annual recurring revenue for our Platforms business thanks to another strong quarter of new deployments. The shift in our marketing approach towards enterprise campaigns contributed to the 100 net new Platform deployments for the full year, including 27 in the fourth quarter." said Peter Derycz, President and CEO of Research Solutions. "Our new partnerships and product initiatives expanded our available product offerings, while simplifying access for our customers, some of whom are involved in researching a potential COVID-19 vaccine. With additional product improvements, partnership opportunities on tap and better lead generation, combined with our strong balance sheet, we are well-positioned for continued progress in fiscal 2021."

For earnings history and earnings-related data on Research Solutions, Inc. (RSSS) click here.