Research Solutions, Inc. (NASDAQ:RSSS) Q4 2024 Earnings Call Transcript September 19, 2024 5:00 PM ET

Company Participants

John Beisler - IR
Roy Olivier - President and CEO
Bill Nurthen - CFO

Conference Call Participants

Jacob Stephan - Lake Street
Richard Baldry - ROTH Capital
Allen Klee - Maxim Group LLC
Avi Fisher - Long Cast Advisers

Operator

Good day, and welcome to the Research Solutions, Inc. Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to John Beisler. Please go ahead.

John Beisler

Thank you, Nick, and good afternoon, everyone. Thank you for joining us today for Research Solutions' fourth quarter and full fiscal year 2024 earnings call. On the call today are Roy W. Olivier, President and Chief Executive Officer; and Bill Nurthen, Chief Financial Officer. After the market close this afternoon, the company issued a press release announcing its results for the fourth quarter in full year 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 conditions.

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 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. Overall, it was a strong year for the company as we showed continued progress in many strategic areas of the business, resulting in a transformational year. We completed the acquisitions of Resolute.ai in July of 2023 and scite.ai in December of 2023. Both advanced our leadership position in discovery and analysis capability to our growing suite of research tools. Scite continues to outperform on better-than-expected B2C sales and strong execution on our cross-sell efforts for the B2B side. Scite's B2B business was about $400,000 when we closed the acquisition, and you may recall we added about $250,000 in Q3. In Q4, we added approximately $290,000, which further approves our robust cross-selling strategy progress. We remain uniquely positioned to maintain and build on our strong position as a leading vertical SaaS and AI company, supporting research-intensive organizations.