Research Solutions, Inc

Good afternoon, everyone, and thank you for participating in today's conference call to discuss research solutions, financial and operating results for its fiscal fourth quarter and full year ended June 30th, 2022. As a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, John Beisler, Investor Relations.

Thank you, Ariel, and good afternoon, everyone. Thank you for joining us today for Research Solutions' fourth quarter and full year fiscal 22 earnings call. On the call with me today are Roy W. Olivier, President and Chief Executive Officer, and Bill Nerthen, Chief Financial Officer. After the market closed this afternoon, the company issued a press release announcing its results for the fourth quarter and full year fiscal 2022. 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 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 is being 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?

Thank you, John, and thanks to everyone joining. For our fourth quarter and fiscal 22 results, before I get into specifics about our performance versus plan, I want to quickly recap some of our results that we accomplished during the fiscal year. During FY22, we sold 180 net new customers, resulting in net ARR growth of over $2 million for the first time. Our customer acquisition costs, or CAC, a measure of our sales efficiency, ran at about 13 months, slightly over our target of 12. Our lifetime value to CAC also remains very strong at approximately nine times our CAC. Both of these measurements put us in the better or best category as defined by Bessemer Venture Partners, SAS, Guardrails, and indicate that we should continue to invest in growing the top line, which we plan on doing. Renewal rates remain strong in the high 90s, and our net renewal rates ran over 110% for the year and stand at an internal record on our trailing 12-month basis. We also started measuring net promoter score or NPS during the year, and our average NPS score for the year is 63, well above the 22 SAS company average of 41. Both the renewal rates and the NPS score underscore the value we're delivering to our customers and will remain key metrics influencing our strategy moving forward. During the full fiscal year, we made tremendous progress related to our product strategy, which I will cover in more detail later in the call. We released significant upgrades to the ArticleGalaxy platform, including pivoting to a good, better, and best version of ArticleGalaxy. We also released ArticleGalaxy references, both a standard and pro version of the software. References is a reference manager application that will significantly improve the value proposition of the Article Galaxy platform to our users. Finally, we are about to release a new product called CureDatus, which is a regulatory compliance tool that is integrated with Article Galaxy. CureDatus is a pharmacovigilance product intended to help our customers collect, detect, assess, monitor, and prevent adverse effects with pharmaceutical and other products. Pharmacovigilance is required in several vertical markets and countries we serve and is a manual process today in many cases. This product automates the process and integrates with Article Galaxy to help our customers search, identify, and acquire scientific articles that are related to that process. I'd like to pass the call over to Bill to walk through our fiscal fourth quarter and 2022 year-end financial results in detail. And then I'll wrap up with some more comments related to our product strategy and M&A.