Research Solutions Preliminary Q4 Revenue $12.1M Up From $9.96M YoY; Expects FY24 Revenue $44.6M Vs $44.2M Est.
Portfolio Pulse from Benzinga Newsdesk
Research Solutions, Inc. (NASDAQ:RSSS) reported preliminary Q4 2024 revenue of $12.1M, a 22% increase YoY, and expects FY24 revenue of $44.6M. The company anticipates record revenue and income from operations, with strong cash flow. Platform revenue and ARR showed significant growth, driven by the Scite acquisition.
August 19, 2024 | 1:07 pm
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Research Solutions reported a 22% increase in Q4 revenue to $12.1M and expects FY24 revenue of $44.6M. Platform revenue and ARR saw significant growth, driven by the Scite acquisition. Despite a GAAP net loss due to earn-out charges, the company shows strong operational cash flow and improved margins.
The 22% increase in Q4 revenue and strong FY24 revenue expectations indicate positive business momentum. The significant growth in platform revenue and ARR, particularly from the Scite acquisition, suggests a successful integration and potential for future growth. Despite a GAAP net loss due to earn-out charges, the company's strong cash flow and improved margins are positive indicators for investors.
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