Research Solutions, Inc. (NASDAQ:RSSS) Q1 2024 Earnings Conference Call November 9, 2023 5:00 PM ET

Company Participants

John Beisler - Three Part Advisors, Investor Relations

Roy Olivier - Chief Executive Officer and President

William Nurthen - Chief Financial Officer

Conference Call Participants

Richard Baldry - ROTH Capital

Allen Klee - Maxim Group

Operator

Thank you for standing by. This is the conference operator. Welcome to the Research Solutions Inc. First Quarter 2024 Earnings Conference Call. As a reminder, the conference is being recorded. [Operator Instructions].

I would now like to turn the conference over to John Beisler Investor Relations. Please go ahead.

John Beisler

Thank you, operator, and good afternoon, everyone. Thank you for joining us today for the Research Solutions First Quarter Fiscal 2024 Earnings Call. On the call today are Roy 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 2024. The release is available on the company's website at 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 are 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 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 those measures 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 Olivier

Thank you, John, and thanks to everyone for joining us for our first quarter fiscal 2024 results. During the quarter, we had some great things going on, including record ARR of over $11 million, 16% overall revenue growth and completing the acquisition of Resolute data AI. This acquisition will help us launch an advanced discovery or a search tool, which has been the number one requested tool by our customers. It will also help us create new sources of revenue, both in terms of new products and in new workflows that expand our total addressable market and represent a strong cross-sell opportunity for us. There's a lot of things good going on around the business, including in the marketing, sales, product and M&A segments, which I'll discuss with you in more detail after Bill's comments. The quarter is a bit messy in terms of our EBITDA performance due to several costs that Bill will discuss in detail. I'm happy with the core business EBITDA performance in Q1.