Research Solutions, Inc. (NASDAQ:RSSS) Q1 2023 Earnings Conference Call November 10, 2022 5:00 PM ET

Company Participants

John Beisler – Investor Relations

Roy W. Olivier – President and Chief Executive Officer

Bill Nurthen – Chief Financial Officer

Conference Call Participants

Allen Klee – Maxim Group

Richard Baldry – ROTH Capital

Operator

Good afternoon, everyone, and thank you for participating in today’s conference call to discuss Research Solutions’ Financial and Operating Results for its Fiscal First Quarter Ended September 30, 2022. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, John Beisler, Investor Relations.

John Beisler

Thank you, operator, and good afternoon, everyone. Thank you for joining us today for Research Solutions’ first quarter fiscal 2023 earnings call. On the call today are Roy W. Olivier, President and Chief Executive Officer; and Bill Nurthen, Chief Financial Officer.

After the market closed this afternoon, the company issued a press release announcing its results for the first quarter of fiscal 2023. The release is available on the company’s website, researchsolutions.com.

Before Roy and Bill begin their prepared remarks, I would like to remind you that some of the statements made today will be forward-looking and made under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied due to a variety of factors. We refer you to the Research Solutions’ recent filings with the SEC for a more detailed discussion of the risks that could impact the company’s future operating results and financial condition.

Also on today’s call, management will reference certain non-GAAP financial measures, which we believe provide useful information for investors. A reconciliation of these numbers to GAAP measures is included in the earnings press release issued this afternoon.

Finally, I would like to remind everyone that this call will be recorded and made available for replay via a link on the company’s website.

I would now like to turn the call over to Roy W. Olivier. Roy?

Roy W. Olivier

Thanks, John, and thanks to everyone for joining us for our first quarter fiscal 2023 results. The first quarter was a great quarter in many respects. The overall revenue growth rate, boosted by strong transaction revenue was 12%, which is the highest going back five-plus years. Platform revenue was up 34% with ARR up 33% and we were excited to see Platform revenue above $2 million and ARR exceeding $8 million for the first time.