Research Solutions, Inc

Please stand by. Your program is about to begin. If you need assistance during your conference today, please press star zero. Good day, everyone, and welcome to today's Research Solutions, Inc. second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing star one on your telephone keypad. You may withdraw yourself from the queue by pressing star two. Please note this call may be recorded, and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Mr. Stephen Hoosier, Investor Relations. Please go ahead, sir.

Thank you, Jess, and good afternoon, everyone. Thank you for joining us for the Research Solutions Second Quarter Fiscal Year 2025 Earnings Call. On the call with me today are Rory W. Olivier, President and Chief Executive Officer, Bill Nerven, Chief Financial Officer, and Josh Nicholson, Chief Strategy Officer. After the market closed this afternoon, the company issued a press release announcing its results for the second quarter of fiscal 2025. The release is available on the company's website at researchsolutions.com. Before we begin our prepared remarks, I would like to remind you that some of the statements made today will be forward-looking and under 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 and uncertainties 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 today's earnings press release as well. Finally, I would like to again 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 President and Chief Executive Officer Roy W. Olivier. Roy?

Thank you, Stephen. Overall, I'm pleased with the second quarter results. Net new ARR and deployments were strong and helped produce nice overall results on the top and bottom line. We delivered a record in terms of organic net new deployments, some of which was due to the reorganization of the sales team into a corporate focus team and an academic focus team. We saw strong results in academic and corporate sales teams during the quarter. We are not where we want to be in terms of churn and upsells, and we'll continue to focus on improving that area of the business. That said, our customer acquisition costs, or CAC, and our CAC to LTV, or CAC to lifetime value, remain strong. The overall net ARR growth number is 1.5 million, which is where we need to be in terms of a quarterly run rate. However, it will take a few more quarters before we can consistently deliver that result every quarter. B2C had a strong quarter, and we continue to dial in the formula to maximize new ARR derived from digital spend to buy market. B2C slowed at the end of the quarter as the holiday break impacted new signups, and we expect that slowdown to impact January and then ramp up as we get into the second two months and quarter. I'll review some of the steps we're taking to improve our sales performance, but first I'd like to pass the call over to Bill to walk through our fiscal second quarter financial results in detail. After Bill's portion, I'll be back to address where we are in more detail, and I asked Josh Nicholson, the founder of CITE and our chief strategy officer to join today to comment on some of the recent news regarding new entries into the AI space and how Research Solutions expects to win in the long term. Bill.