RSSS Research Solutions Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report:

(Date of earliest event reported)

 

September 19, 2024

 

 

Research Solutions, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada

(State or other Jurisdiction of Incorporation)

 

1-39256		11-3797644
(Commission File Number)		(IRS Employer Identification No.)

 

N/A

(Address of Principal Executive Offices and zip code)

 

(310) 477-0354

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

 

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class	Trading Symbol(s)	Name of each Exchange on which  registered
Common stock, $0.001 par value	RSSS	The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

 

Emerging growth company     ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ¨

 

 

 

Item 2.02.

Results of Operations and Financial Condition.

 

On September 19, 2024, the Registrant announced its financial results for the fourth quarter and fiscal year ended June 30, 2024. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 2.02 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.

 

Item 9.01.

Financial Statements and Exhibits

 

(d)

Exhibits.

 

	Exhibit
	Number	Description
	99.1	Press Release issued September 19, 2024 entitled “Research Solutions Reports Fourth Quarter and Fiscal Year 2024 Results”.
	104	Cover Page Interactive Data File (embedded as Inline XBRL document).

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

	RESEARCH SOLUTIONS, INC.
Date: September 19, 2024	By:	/s/ William Nurthen
		William Nurthen
		Chief Financial Officer

 

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

  

  

Research Solutions Reports Fourth Quarter and Fiscal Year 2024 Results

 

Reports 18% Revenue Increase, ARR of $17.4 Million and Record Cash Flow

 

HENDERSON, Nev., September 19, 2024 — Research Solutions, Inc. (NASDAQ: RSSS), a trusted partner providing cloud-based workflow solutions to accelerate research for R&D-driven organizations, reported record financial results for its fourth quarter and full fiscal year ended June 30, 2024.

 

Fiscal Fourth Quarter 2024 Summary (compared to prior-year quarter)

 

·

Total revenue of $12.1 million, a 22% increase.

·

Platform revenue up 86% to $4.3 million. Platform revenue accounted for 35% of the revenue as compared to 23% in the prior year.

·

Annual Recurring Revenue (“ARR”) up 84% to $17.4 million, which includes approximately $12.1 million of B2B recurring revenue and $5.4M of B2C recurring revenue.

·

Gross profit up 44%. Total gross margin improved 710 basis points to 46.5%.

·

Net loss of $2.8 million, or ($0.09) per diluted share, compared to $376,000 or $0.01 per diluted share. The quarter’s result includes a charge of approximately $4.3 million related to increasing the projected earnout for Scite.

·

Adjusted EBITDA of $1.4 million, a 70% improvement and a Company quarterly record, compared to $825,000.

·

Cash flow from operations of $2.0 million, compared to $1.5 million, a 30% improvement.

 

Fiscal Year 2024 Summary (compared to Fiscal 2023)

 

·

Total revenue of $44.6 million, an 18% increase.

·

Platform revenue up 61% to $14.0 million. Transaction revenue increased 5.7% to $30.7 million.

·

Gross profit up 34%. Total gross margin improved 500 basis points to 44.0%.

·

Net loss of $3.8 million, or ($0.13) per diluted share, including the previously mentioned $4.3 million charge and $1.5 million in proxy and acquisition-related expenses, compared to net income of $572,000 or $0.02 per diluted share.

·

Adjusted EBITDA of $2.2 million, which is inclusive of proxy and acquisition-related expenses of $1.4 million, a Company record, compared to $2.0 million.

·

Cash flow from operations of $3.6 million, a Company record, compared to $3.4 million.

 

 

“Fiscal 2024 was a transformational year for the Company. We completed two acquisitions which helped position us as a vertical SaaS and AI company, helping researchers throughout their entire workflow. The integration of these acquisitions and our operational execution were meaningful contributors to our 85% year-over-year ARR growth and the double-digit increase in Adjusted EBITDA,” said Roy W. Olivier, President and CEO of Research Solutions. “There are many untapped market opportunities where our highly specialized product offerings can serve as a vital piece of the research process. Overall, we believe we are well-positioned to deliver meaningful ARR growth while expanding Adjusted EBITDA margins, creating long-term value for our shareholders.”

 

Fiscal Fourth Quarter 2024 Results

 

Total revenue was $12.1 million, a 22% increase from $10.0 million in the year-ago quarter primarily driven by increased platform revenue versus the prior-year period due to revenue from the Company’s acquisitions as well as organic platform revenue growth.

 

Platform subscription revenue for the quarter was $4.3 million, an 86% year-over-year increase. The increase was primarily due to the acquisition of Scite, as well as organic growth in the core Article Galaxy platform. The quarter ended with annual recurring revenue of $17.4 million, up 84% year-over-year (see the company’s definition of annual recurring revenue below).

 

Transaction revenue was $7.9 million, compared to $7.7 million in the fourth quarter of fiscal 2023. The transaction active customer count for the quarter was 1,398, compared to 1,404 customers in the prior-year quarter (see the company's definition of active customer accounts and transactions below).

 

Total gross margin improved 710 basis points from the prior-year quarter to 46.5%. The increase was primarily driven by the continued revenue mix shift to the higher-margin Platforms business, as well as a 70 basis point increase in margins in the transactions business.

 

Total operating expenses were $5.0 million, compared to $3.7 million in the fourth quarter of 2023. The increase was primarily related to the additional cost base associated with the aforementioned acquisitions, as well as increased non-cash depreciation and amortization expense related to such acquisitions.

 

Other expense for the quarter was approximately $3.5 million, compared to other income of $120,000 in the prior-year quarter. The primary driver of this was $4.3M of expense related to increasing the earn-out assumption associated with the Scite acquisition.

 

Net loss in the fourth quarter was $2.8 million, or ($0.09) per diluted share, compared to net income of $376,000, or $0.01 per diluted share, in the prior-year quarter. Adjusted EBITDA was $1.4 million, compared to $825,000 in the year-ago quarter (see definition and further discussion about the presentation of Adjusted EBITDA, a non-GAAP term, below).

 

 

Full-Year Fiscal 2024 Results

 

Total revenue was $44.6 million, an 18% increase from fiscal 2023, driven by both increased platform revenue and transaction revenue.

 

Platform subscription revenue for fiscal 2024 was $14.0 million, a 61% year-over-year increase. The increase was primarily due to the acquisition of Scite, as well as organic growth in the core Article Galaxy platform.

 

Transaction revenue was $30.7 million, compared to $29.0 million in fiscal 2023. The increase was driven by organic growth and the impact of a full year of contribution from the acquisition of contracts from FIZ Karlsruhe, compared to six months in fiscal 2023.

 

Total gross margin improved 500 basis points from the prior-year to 44.0%. The increase was primarily driven by the continued revenue mix shift to the higher-margin Platforms business, as well as a 100 basis point increase in margins in the transactions business related to pricing initiatives.

 

Total operating expenses for the year were $20.4 million, compared to $14.5 million in fiscal 2023. The increase was primarily related to the additional cost base associated with the acquisitions, including increased non-cash depreciation and amortization expense related to such acquisitions, as well as the aforementioned proxy and acquisition-related expenses.

 

Net loss for fiscal 2024 was $3.8 million, or ($0.13) per diluted share, compared to net income of $572,000, or $0.02 per diluted share, in the prior-year. Adjusted EBITDA was $2.2 million, compared to $2.0 million in fiscal 2023 (see definition and further discussion about the presentation of Adjusted EBITDA, a non-GAAP term, below).

 

Conference Call

Research Solutions President and CEO Roy W. Olivier and CFO Bill Nurthen will host the conference call, followed by a question and answer period.

 

Date: Thursday, September 19, 2024

Time: 5:00 p.m. ET (2:00 p.m. PT)

Dial-in number: 1-412-317-5180

 

The conference call will be broadcast live and available for replay until October 19, 2024 by dialing 1-412-317-6671 and using the replay ID 10191850, and via the investor relations section of the company's website at http://researchsolutions.investorroom.com/.

 

 

Fiscal Fourth Quarter Financial and Operational Summary Tables vs. Prior-Year Quarter

 

		Quarter Ended June 30,												Twelve Months Ended June 30,
		2024			2023			Change			% Change			2024			2023			Change			% Change
Revenue:
Platforms		$	4,277,338		$	2,303,375		$	1,973,963		85.7	%		$	13,956,517		$	8,683,246		$	5,273,271		60.7	%
Transactions		$	7,856,176		$	7,656,342			199,834		2.6	%		$	30,667,382		$	29,020,206			1,647,176		5.7	%
Total Revenue			12,133,514			9,959,717			2,173,797		21.8	%			44,623,899			37,703,452			6,920,447		18.4	%
Gross Profit:
Platforms			3,650,286			2,028,265			1,622,021		80.0	%			11,889,314			7,655,960			4,233,353		55.3	%
Transactions			1,992,580			1,892,278			100,302		5.3	%			7,750,852			7,044,931			705,921		10.0	%
Total Gross Profit			5,642,866			3,920,543			1,722,323		43.9	%			19,640,166			14,700,891			4,939,274		33.6	%
Gross profit as a % of revenue:
Platforms			85.3	%		88.1	%		-2.7	%					85.2	%		88.2	%		-3.0	%
Transactions			25.4	%		24.7	%		0.6	%					25.3	%		24.3	%		1.0	%
Total Gross Profit			46.5	%		39.4	%		7.1	%					44.0	%		39.0	%		5.0	%
Operating Expenses:
Sales and marketing			830,195			455,030			375,165		82.4	%			3,442,503			2,285,478			1,157,025		50.6	%
Technology and product development			1,489,491			991,093			498,398		50.3	%			5,442,382			3,742,192			1,700,190		45.4	%
General and administrative			1,917,907			1,649,333			268,574		16.3	%			8,511,697			6,654,012			1,857,685		27.9	%
Depreciation and amortization			311,004			22,163			288,841		1303.3	%			836,271			52,649			783,622		1488.4	%
Stock-based compensation			426,190			585,384			(159,194	)	-27.2	%			2,155,461			1,849,906			305,555		16.5	%
Foreign currency translation loss			6,336			(37,743	)		44,079		116.8	%			21,395			(121,953	)		143,348		117.5	%
Total Operating Expenses			4,981,123			3,665,260			1,315,863		35.9	%			20,409,709			14,462,284			5,947,425		41.1	%
Income (loss) from operations			661,743			255,283			406,460		159.2	%			(769,543	)		238,608			(1,008,151	)	-422.5	%
Other Income (Expenses):
Other income			(3,451,948	)		120,522			(3,572,470	)	NM				(2,903,983	)		338,617			(3,242,600	)	NM
Provision for income taxes			(31,022	)		(59	)		(30,963	)	NM				(113,071	)		(5,602	)		(107,469	)	NM
Total Other Income (Expenses):			(3,482,970	)		120,463			(3,603,433	)	NM				(3,017,054	)		333,015			(3,350,069	)	NM
Net income (loss)		$	(2,821,227	)	$	375,746			(3,196,973	)	NM			$	(3,786,597	)	$	571,623			(4,358,220	)	NM
																							NM
Adjusted EBITDA		$	1,405,273		$	825,087		$	580,186		70.3	%		$	2,243,584		$	2,019,210		$	224,374		11.1	%

 

		Quarter Ended June 30,												Twelve Months Ended June 30,
		2024			2023			Change			% Change			2024			2023			Change			% Change
Platforms:
B2B ARR (Annual recurring revenue*):
Beginning of Period		$	11,653,063		$	9,107,681		$	2,545,382		27.9	%		$	9,444,130		$	7,922,188		$	1,521,942		19.2	%
Incremental ARR			407,139			336,448			70,691		21.0	%			2,616,072			1,521,941			1,094,131		71.9	%
End of Period		$	12,060,202		$	9,444,129		$	2,616,073		27.7	%		$	12,060,202		$	9,444,129		$	2,616,073		27.7	%
Deployments:
Beginning of Period			983			815			168		20.6	%			835			733			102		13.9	%
Incremental Deployments			38			20			18		90.0	%			186			102			84		82.4	%
End of Period			1,021			835			186		22.3	%			1,021			835			186		22.3	%
ASP (Average sales price):
Beginning of Period		$	11,855		$	11,175		$	680		6.1	%		$	11,310		$	10,808		$	502		4.6	%
End of Period		$	11,812		$	11,310		$	502		4.4	%		$	11,812		$	11,310		$	502		4.4	%
B2C ARR (Annual recurring revenue*):
Beginning of Period		$	4,902,975		$	-		$	4,902,975					$	-		$	-		$	-
Incremental ARR			460,154			-			460,154		NM				5,363,129			-			5,363,129		NM
End of Period		$	5,363,129		$	-		$	5,363,129		NM			$	5,363,129		$	-		$	5,363,129		NM
Total ARR (Annualized recurring revenue):		$	17,423,331		$	9,444,129		$	7,979,202		84.5	%		$	17,423,331		$	9,444,129		$	7,979,202		84.5	%
Transaction Customers:
Corporate customers			1,093			1,090			3		0.3	%			1,088			1,012			76		7.5	%
Academic customers			305			314			(9	)	-2.9	%			316			304			12		4.0	%
Total customers			1,398			1,404			(6	)	-0.4	%			1,404			1,316			88		6.7	%

 

 

Active Customer Accounts, Transactions and Annual Recurring Revenue

 

The company defines active customer accounts as the sum of the total quantity of customers per month for each month in the period divided by the respective number of months in the period. The quantity of customers per month is defined as customers with at least one transaction during the month.

 

A transaction is an order for a unit of copyrighted content fulfilled or managed in the Platform.

 

The company defines annual recurring revenue (“ARR”) as the value of contracted Platform subscription recurring revenue normalized to a one-year period. For B2C ARR, this includes the annualized value of monthly subscriptions, meaning their monthly value multiplied by twelve.

 

Use of Non-GAAP Measure – Adjusted EBITDA

 

Research Solutions’ management evaluates and makes operating decisions using various financial metrics. In addition to the company’s GAAP results, management also considers the non-GAAP measure of Adjusted EBITDA. Management believes that this non-GAAP measure provides useful information about the company’s operating results.

 

The tables below provide a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure. Adjusted EBITDA is defined as net income (loss), plus interest expense, other income (expense) including any change in fair value of contingent earnout liability, foreign currency transaction loss, provision for income taxes, depreciation and amortization, stock-based compensation, gain on sale of discontinued operations, and other potential adjustments that may arise. Set forth below is a reconciliation of Adjusted EBITDA to net income (loss):

 

		Quarter Ended June 30,												Twelve Months Ended June 30,
		2024			2023			Change			% Change			2024			2023			Change			% Change
Net Income (loss)		$	(2,821,227	)	$	375,746		$	(3,196,973	)	NM			$	(3,786,597	)	$	571,623		$	(4,358,220	)	NM
Add (deduct):
Other income (expense)			3,451,948			(120,522	)		3,572,470		NM				2,903,983			(338,617	)		3,242,600		NM
Foreign currency translation loss			6,336			(37,743	)		44,079		116.8	%			21,395			(121,953	)		143,348		117.5	%
Provision for income taxes			31,022			59			30,963		NM				113,071			5,602			107,469		NM
Depreciation and amortization			311,004			22,163			288,841		1303.3	%			836,271			52,649			783,622		1488.4	%
Stock-based compensation			426,190			585,384			(159,194	)	-27.2	%			2,155,461			1,849,906			305,555		16.5	%
Gain on sale of disc. ops.			-			-			-						-			-			-
Adjusted EBITDA		$	1,405,273		$	825,087		$	580,186		70.3	%		$	2,243,584		$	2,019,210		$	224,374		11.1	%

 

About Research Solutions

 

Research Solutions, Inc. (NASDAQ: RSSS) provides cloud-based technologies to streamline the process of obtaining, managing, and creating intellectual property. Founded in 2006 as Reprints Desk, the company was a pioneer in developing solutions to serve researchers. Today, more than 70 percent of the top pharmaceutical companies, prestigious universities, and emerging businesses rely on Article Galaxy, the company's SaaS research platform, to streamline access to the latest scientific research and data with 24/7 customer support. For more information and details, please visit www.researchsolutions.com

 

 

Important Cautions Regarding Forward-Looking Statements

 

Certain statements in this press release may contain "forward-looking statements" regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects", "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may," or variations of such words, and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties and assumptions that are difficult to predict, estimate or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company's most recent annual report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on Form 10-Q, or other reports filed with the Securities and Exchange Commission. Examples of forward-looking statements in this release include statements regarding enhanced product offerings, additional customers, and the Company’s prospects for growth. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company's filings with the Securities and Exchange Commission.

 

 

Research Solutions, Inc. and Subsidiaries

Consolidated Balance Sheets

 

		June 30,				June 30,
		2024				2023
Assets
Current assets:
Cash and cash equivalents		$	6,100,031			$	13,545,333
Accounts receivable, net of allowance of $68,579 and $85,015, respectively			6,879,800				6,153,063
Prepaid expenses and other current assets			643,553				400,340
Prepaid royalties			1,067,237				1,202,678
Total current assets			14,690,621				21,301,414
Non-current assets:
Property and equipment, net of accumulated depreciation of $922,558 and $881,908, respectively			88,011				70,193
Intangible assets, net of accumulated amortization of $1,535,310 and $747,355, respectively ($8,343,056 provisional)			10,764,261				462,068
Goodwill ($13,171,486 provisional)			16,315,888				—
Deposits and other assets			981				1,052
Total assets		$	41,859,762			$	21,834,727
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses		$	8,843,612			$	8,079,516
Deferred revenue			9,023,848				6,424,724
Total current liabilities			17,867,460				14,504,240
Non-current liabilities:
Contingent earnout liability			12,298,114				—
Total liabilities			30,165,574				14,504,240
Commitments and contingencies
Stockholders’ equity:
Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding			—				—
Common stock; $0.001 par value; 100,000,000 shares authorized; 32,295,373 and 29,487,508 shares issued and outstanding, respectively			32,295				29,487
Additional paid-in capital			38,089,958				29,941,873
Accumulated deficit			(26,309,246	)			(22,522,649	)
Accumulated other comprehensive loss			(118,819	)			(118,224	)
Total stockholders’ equity			11,694,188				7,330,487
Total liabilities and stockholders’ equity		$	41,859,762			$	21,834,727

 

 

Research Solutions, Inc. and Subsidiaries

Consolidated Statements of Operations and Other Comprehensive Loss

 

		Years Ended
		June 30,
		2024				2023
Revenue:
Platforms		$	13,956,517			$	8,683,246
Transactions			30,667,382				29,020,206
Total revenue			44,623,899				37,703,452
Cost of revenue:
Platforms			2,067,203				1,027,286
Transactions			22,916,530				21,975,275
Total cost of revenue			24,983,733				23,002,561
Gross profit			19,640,166				14,700,891
Operating expenses:
Selling, general and administrative			19,573,438				14,409,634
Depreciation and amortization			836,271				52,649
Total operating expenses			20,409,709				14,462,283
Income (loss) from operations			(769,543	)			238,608
Other income			333,088				338,617
Change in fair value of contingent earnout liability			(3,237,071	)			—
Income (loss) from operations before provision for income taxes			(3,673,526	)			577,225
Provision for income taxes			(113,071	)			(5,602	)
Net income (loss)			(3,786,597	)			571,623
Other comprehensive income (loss):
Foreign currency translation			(595	)			3,717
Comprehensive income (loss)		$	(3,787,192	)		$	575,340
Basic income (loss) per common share:
Net income (loss) per share		$	(0.13	)		$	0.02
Weighted average common shares outstanding			28,863,949				26,860,761
Diluted income (loss) per common share:
Net income (loss) per share		$	(0.13	)		$	0.02
Weighted average common shares outstanding			28,863,949				29,139,759

 

 

Research Solutions, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

 

		Years Ended
		June 30,
		2024				2023
Cash flow from operating activities:
Net income (loss)		$	(3,786,597	)		$	571,623
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			836,271				52,649
Fair value of vested stock options			140,150				375,189
Fair value of vested restricted common stock			1,994,362				1,418,718
Fair value of vested unrestricted common stock			—				68,272
Modification cost of accelerated vesting of restricted common stock			20,949				56,000
Adjustment to contingent earnout liability			3,237,071				—
Changes in operating assets and liabilities:
Accounts receivable			(344,020	)			(901,518	)
Prepaid expenses and other current assets			(164,579	)			(124,314	)
Prepaid royalties			135,441				(356,026	)
Accounts payable and accrued expenses			560,027				1,337,056
Deferred revenue			921,879				886,198
Net cash provided by operating activities			3,550,954				3,383,847
Cash flow from investing activities:
Purchase of property and equipment			(71,510	)			(47,209	)
Payment for acquisition of Resolute, net of cash acquired			(2,718,253	)			—
Payment for acquisition of Scite, net of cash acquired			(7,305,493	)			—
Payment for non-refundable deposit for asset acquisition			—				(297,450	)
Net cash used in investing activities			(10,095,256	)			(344,659	)
Cash flow from financing activities:
Proceeds from the exercise of stock options			—				57,500
Common stock repurchase			(554,202	)			(104,250	)
Payment of contingent acquisition consideration			(351,649	)			(50,509	)
Net cash used in financing activities			(905,851	)			(97,259	)
Effect of exchange rate changes			4,851				229
Net increase (decrease) in cash and cash equivalents			(7,445,302	)			2,942,158
Cash and cash equivalents, beginning of period			13,545,333				10,603,175
Cash and cash equivalents, end of period		$	6,100,031			$	13,545,333
Supplemental disclosures of cash flow information:
Cash paid for income taxes		$	113,071			$	5,602
Non-cash investing and financing activities:
Contingent consideration accrual on asset acquisition		$	32,022			$	138,428

 

Contact

Steven Hooser or John Beisler

Three Part Advisors

(214) 872-2710

shooser@threepa.com; jbeisler@threepa.com

 

# # #

 

 

v3.24.3

Cover	Sep. 19, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 19, 2024
Entity File Number	1-39256
Entity Registrant Name	Research Solutions, Inc.
Entity Central Index Key	0001386301
Entity Tax Identification Number	11-3797644
Entity Incorporation, State or Country Code	NV
City Area Code	310
Local Phone Number	477-0354
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	RSSS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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