Research Solutions, Inc. (RSSS) Reports Q3 EPS of $0.00 on Revenues of $8.3M

Research Solutions, Inc. (NASDAQ: RSSS) reported Q3 EPS of $0.00. Revenue for the quarter came in at $8.3 million, versus $8 million reported last year.

Fiscal Third Quarter 2021 Highlights Compared to Prior Year Quarter:

• Platform revenue increased 32% to $1.3 million, Annual recurring revenue increased 34% to $5.6 million
• Total gross margin improved 80 basis points to 32.4%
• Net income of $50,000, compared to net income of $12,000 in the prior-year quarter
• Adjusted EBITDA of $238,000, an improvement of $93,000

"Our third quarter results include a pair of records within our Platforms business. We achieved 51 net new deployments for the quarter, and Annual Recurring Revenue increased by $534,000, bringing ARR to $5.6 million at the end of the quarter," said Roy W. Olivier, Interim President and CEO of Research Solutions. "This quarter's strong performance within platform deployments reflects the beginning of the payoff of our sales initatives implemented last year."

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

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