Research Solutions, Inc. (RSSS) Reports Q2 Loss of $0.03

Research Solutions, Inc. (OTC: RSSS) reported Q2 EPS of ($0.03), versus ($0.03) reported last year. Revenue for the quarter came in at $7 million, versus $6.82 million reported last year.

• Platform revenue up 62% to $668,000, with a 45% increase in total Platform deployments to 267. Annual recurring revenue up 58% to $2.7 million.
• Transaction revenue was $6.3 million versus $6.4 million, with customer count up 4% to 1,083.
• Total gross margin up 300 basis points to 28.4%.
• Net loss from continuing operations was $0.6 million, or $(0.03) per share, compared to a net loss of $0.7 million, or $(0.03) per share.

Management Commentary

"Our SaaS-based Platform business continued its momentum in the second quarter with strong growth in revenue and gross margin," said Peter Derycz, president and CEO of Research Solutions. "This was primarily driven by our continued execution of new Platform deployments and continued Platform 'upsells,' which confirms that many of our users find significant value from our Platform and seek greater access to all of its functionality."

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

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