Research Solutions, Inc

Good day, and welcome to the Research Solutions, Inc., fourth quarter 2024 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to John Beisler. Please go ahead.

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 Northern, 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 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. The 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?

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 Site.ai in December of 2023. Both advanced our leadership position and discovery and analysis capability to our growing suite of research tools. Site continues to outperform on better than expected B2C sales and strong execution on our cross-sell efforts for the B2B side. Site'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 proves 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. Some of our other meaningful accomplishments during the year that further strengthen our overall value proposition include building a predictable B2C demand generation engine that will produce results as seasonality subsides in the early fall, Rebranding to create a cohesive messaging across our portfolio of products and drive internal alignment, which launched this week publicly. Growing the B2B pipeline by simplifying messaging and execution and refocusing on cross-sells and upsells. We integrated Article Galaxy Insight to further strengthen our research platform value prop. We achieved our highest levels of automated delivery in Q4. 76.8% of articles with DOIs were delivered instantly to our researchers. We also realigned the software engineering and product management organizations to improve execution, speed the market, and to better align execution with our strategy. Moving to our financial accomplishments, the company generated $44.6 million in revenue, including $14 million in platform revenue and $30.7 million in Doctel or transactions revenue during the year. all company records. In addition, we generated $2.2 million in EBITDA and $3.6 million in cash flow from operations. Keep in mind that this is in spite of over $1 million in costs associated with the proxy matter we dealt with in the year. ARR stands at $17.4 million and 84% year-over-year improvement, and our platform customer count exceeded 1,000 for the first time in the company's history. Overall, We're proud of the results and excited about the future of our business. I'd like to discuss the business outlook in more detail and provide some context regarding FY25 later in the call. For now, I'll pass the call over to Bill to walk you through our fiscal fourth quarter and full year 2024 financial results in detail, and then I'll wrap up with some comments and outlook for fiscal 2025. Bill? Thank you, Roy.