PR Newswire
ENCINO, Calif., Sept. 7, 2016
ENCINO, Calif., Sept. 7, 2016 /PRNewswire/ -- Research Solutions, Inc. (OTCQB: RSSS), a pioneer in providing on-demand access to scientific, technical and medical (STM) information for life science companies, academic institutions, and other research-intensive organizations, reported preliminary results for its fiscal fourth quarter and full year ended June 30, 2016. All quarterly comparisons are to the same year-ago quarter.
Beginning this quarter, the company has begun to report its Article Galaxy's subscriptions and transactions results separately: Article Galaxy SaaS Platforms represent customer deployments that provide premium access to Article Galaxy on a subscription basis, and Article Galaxy Transactions that represent all customer transactions conducted via both premium and standard access.
Fiscal Fourth Quarter 2016 Highlights
Fiscal Full Year 2016 Highlights
Management Commentary
"Throughout fiscal 2016, Article Galaxy platform deployments and transactions continued to gain momentum," said Research Solutions President and CEO, Peter Derycz. "These strong results reflect our increasing focus on our newer line of higher margin, subscription-based Article Galaxy SaaS Platform deployments that provide premium features and functionality for our customers.
"In fact, by year end, we had 59 premium platform deployments, or nearly three times more than last year, which were generating an annual run rate of $581,000 in subscription-based revenue. We have previously combined Article Galaxy Transactions and SaaS Platforms into one line, but now given this significant amount of subscription revenue and the difference in gross margin, it seemed appropriate to begin breaking it out.
"Further, we're very excited about how this new business line is developing. While revenue from Article Galaxy Transactions is still many times greater than revenue from Article Galaxy SaaS Platforms, Article Galaxy SaaS Platforms gross margin has been at 82%, or about four times Article Galaxy Transactions at 22%. Further, while Article Galaxy Transactions represent repeat revenue, Article Galaxy SaaS Platforms generate more predicable recurring revenue and reflects the strengthening leverage in our business model."
Preliminary Fiscal Fourth Quarter and Full Year 2016 Financial Summary Tables
The following financial summary tables are preliminary and may be updated with the filing of the company's upcoming Annual Report on Form 10-K for the year ended June 30, 2016. The company plans to release on Tuesday, September, 20, 2016 its complete financial results for the year ended June 30, 2016, which will be available in the investor relations section of the company's website at www.researchsolutions.com.
| | Quarter Ended June 30, | |||
| | 2016 | 2015 | Change | % Change |
Revenue: | | | | | |
| Article Galaxy SaaS Platforms | $ 129,963 | $ 32,000 | $ 97,963 | 306.1% |
| Article Galaxy Transactions | 6,025,972 | 5,382,124 | 643,848 | 12.0% |
| Reprints and ePrints | 2,141,466 | 2,166,382 | (24,916) | -1.2% |
Total Revenue | 8,297,401 | 7,580,506 | 716,895 | 9.5% | |
| | | | | |
Gross profit: | | | | | |
| Article Galaxy SaaS Platforms | 106,537 | 24,256 | | 0.0% |
| Article Galaxy Transactions | 1,323,080 | 1,220,826 | 102,254 | 8.4% |
| Reprints and ePrints | 155,385 | 218,095 | (62,710) | -28.8% |
Total Gross profit | 1,585,002 | 1,463,177 | 39,544 | 2.7% | |
| | | | | |
Gross profit as a % of revenue: | | | | | |
| Article Galaxy SaaS Platforms | 82.0% | 75.8% | 6.2% | |
| Article Galaxy Transactions | 22.0% | 22.7% | -0.7% | |
| Reprints and ePrints | 7.3% | 10.1% | -2.8% | |
Total Gross profit | 19.1% | 19.3% | -0.2% | | |
| | | | | |
General and Administrative Expenses | 1,423,069 | 1,362,790 | (60,279) | -4.4% | |
Depreciation and Amortization | 29,702 | 16,934 | (12,768) | -75.4% | |
Stock-based Compensation | 162,192 | 506,634 | 344,442 | 68.0% | |
Foreign Currency Translation Loss | 994 | 4,004 | 3,010 | 75.2% | |
Total Operating Expenses | 1,615,957 | 1,890,362 | 274,405 | 14.5% Werbung Mehr Nachrichten zur Research Solutions Aktie kostenlos abonnieren
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