8-K

Research Solutions, Inc. (RSSS)

8-K 2023-08-23 For: 2023-08-23
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Added on April 06, 2026

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORTPursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report:

(Date of earliest event reported)

August 23, 2023


Research Solutions, Inc.

(Exact name of registrant as specified in its charter)

Nevada

(State or other Jurisdiction of Incorporation)

1-39256 11-3797644
(Commission File Number) (IRS Employer Identification No.)

N/A

(Address of Principal Executive Offices and zip code)

(310) 477-0354

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class Trading Symbol(s) Name of each Exchange on which  registered
Common stock, $0.001 par value RSSS The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company     ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      ¨

Item 7.01 Regulation FD Disclosure.

Research Solutions, Inc. (the “Registrant”) hereby furnishes the Corporate Presentation that the Registrant will present at an investor conference on August 23, 2023, using slides containing the information attached to this Current Report on Form 8-K as Exhibit 99.1 (the “Corporate Presentation”) and incorporated herein by reference.  The Registrant expects to use the Corporate Presentation, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts and others during the fiscal year ending June 30, 2024.

By filing this Current Report on Form 8-K and furnishing the information contained herein, the Registrant makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.

The information contained in the Corporate Presentation is summary information that is intended to be considered in the context of the Registrant's Securities and Exchange Commission (“SEC”) filings and other public announcements that the Registrant may make, by press release or otherwise, from time to time.  The Registrant undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted.  Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

The information in this Current Report on Form 8-K (including the exhibits attached hereto) shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K (including the exhibits attached hereto) shall not be deemed incorporated by reference into any filing or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit
No. Description
99.1 Research Solutions, Inc. Corporate Presentation, dated August 23, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

RESEARCH SOLUTIONS, INC.
Date: August 23, 2023 By: /s/ William Nurthen
William Nurthen
Chief Financial Officer
3

Exhibit 99.1

Corporate<br>Presentation<br>Aug 2023
Proprietary & Confidential Research Solutions, Inc. 2<br>Forward-Looking Statements<br>Certain statements in this press release may contain "forward-looking statements" regarding future<br>events and our future results. All statements other than statements of historical facts are statements<br>that could be deemed to be forward-looking statements. These statements are based on current<br>expectations, estimates, forecasts, and projections about the markets in which we operate and the<br>beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets,"<br>"goals," "projects", "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may,"<br>or variations of such words, and similar expressions are intended to identify such forward-looking<br>statements. Readers are cautioned that these forward-looking statements are subject to a number of<br>risks, uncertainties and assumptions that are difficult to predict, estimate or verify. Therefore, actual<br>results may differ materially and adversely from those expressed in any forward-looking statements.<br>Such risks and uncertainties include those factors described in the Company's most recent annual<br>report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on<br>Form 10-Q, or other reports filed with the Securities and Exchange Commission. Examples of forward-looking statements in this release include statements regarding additional customers, potential<br>acquisitions and the Company's prospects for growth, profitability, and cash flow. Readers are<br>cautioned not to place undue reliance on these forward-looking statements. The forward-looking<br>statements are made only as of the date hereof, and the Company undertakes no obligation to<br>publicly release the result of any revisions to these forward-looking statements. For more<br>information, please refer to the Company's filings with the Securities and Exchange Commission.
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Proprietary & Confidential Research Solutions, Inc. 3<br>1. Introduction<br>2. What we do<br>3. Business Model & Opportunity<br>4. Knowledge Graphs<br>5. Opportunity<br>6. Solutions<br>7. Financials<br>Agenda
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Introduction
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Proprietary & Confidential Research Solutions, Inc. 5<br>We Empower Research Intensive Organizations to Accelerate Innovation<br>Innovation Strategy<br>R&D<br>Product Development<br>Post<br>Development<br> • Market Intel<br> • Competitor Intel<br> • IP Analysis<br> • Technology Trends<br> • Scientific Research &<br>Development<br> • Regulatory<br> • Business Development &<br>Marketing<br> • IP Management<br> • Post Market<br> • Surveillance
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What we do
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Proprietary & Confidential Research Solutions, Inc. 7<br>Solving Information<br>Overload<br>Rapid Exponential Growth in Scientific Journal Publications<br>Data from https://openalex.org/<br> • Confidence Nothing Is Missed<br> • Speed & Ease<br> • Assistance in Serendipitous Discovery<br> • Access To A Comprehensive Collection of<br>Data & Content Sources<br> • Support Across A Wide Variety of Use<br>Cases<br>Researchers need to be able to find all relevant<br>information with a high level of accuracy. They should<br>experience:
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Proprietary & Confidential Research Solutions, Inc. 8<br>In other words...<br>Scientific Research Legal Research Financial Research<br>Articles from<br>Scientific, Technical<br> & Medical (STM) Journals,<br>R&D Efficiency Tools<br>Laws, Legal Cases<br> & Opinions<br>Annual Reports &<br>Financial Market Data
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Business Model &<br>Opportunity
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Proprietary & Confidential Research Solutions, Inc. 10<br>10<br>Growth Through<br>Organic Growth of Current SaaS Products<br> • Advanced Discovery Tools<br> • Advanced reporting and knowledge graphs<br> • Entitlement Management<br> • Workflow Solutions For<br> • Key Opinion Leader Identification<br> • Clinical Trials<br> • Competitive Landscape<br> • Patent Management<br> • Pharmacovigilance and Device Monitoring<br> • Information Centers & Libraries<br> • Document Delivery of STM1 Content<br>1 “Scientific, Technical and Medical” Research Papers – non-SaaS<br>2 Total addressable market<br>Acquisitions that will<br> • Expand offerings to expand TAM2<br> • Consolidate Competitors for margin expansion<br> • Enter new geographic markets to drive growth<br>In the<br> • Corporate Markets<br> • Academic Markets<br> • Government Markets<br> • Individuals/Students
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Proprietary & Confidential Research Solutions, Inc. 11<br>SaaS Platforms<br> • Fastest-growing and recurring<br> • High retention rates (>105%)<br> • TTM gross margin 88.0%<br>Document Delivery<br> • Sticky, scalable, repeat revenue<br> • TTM gross margin 24.2%<br>$23.7 $24.8 $26.2 $26.0 $27.2 $26.6 $26.1 $28.0<br>FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23<br>$0.4<br>$1.0<br>$1.8<br>$2.8<br>$3.9<br>$5.1<br>$6.8<br>$8.3<br>FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23<br>FY2016<br>Revenue<br>$24.1M<br>FY2017<br>Revenue<br>$25.8M<br>FY2018<br>Revenue<br>$28.0M<br>FY2019<br>Revenue<br>$28.8M<br>FY2020<br>Revenue<br>$31.1M<br>FY2021<br>Revenue<br>$31.8M<br>FY2022<br>Revenue<br>$32.9M<br>TTM<br>Revenue<br>$36.3M<br>Acquisitions<br> • FIZ : +$1.4M DocDel – January 1, 2023<br> • ResoluteAI : +$1.3M ARR – July 28,<br>2023<br>Fiscal Year Start: July 1st<br>Financials – Through Q3 FY23 ended March 31, 2023
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Proprietary & Confidential Research Solutions, Inc. 12<br>FY23 FY24 Gain<br>Platform Revenues $ 6.8 $ 8.7 28%<br>DocDel Revenue $ 26.1 $ 29.0 11%<br>Total Revenues $ 32.9 $ 37.7 14%<br>ARR $ 7.9 $ 9.4 19%<br>Adjusted EBITDA $ (0.4) $ 2.0 636%<br>Cash Flow $ (0.4) $ 3.4 915%<br>FY24 Q4 and Full Year Pre-Release
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Proprietary & Confidential Research Solutions, Inc. 13<br>Able to Serve All Research-Focused Industries<br>Data from World Top 2500 R&D Investors 2022 Edition<br>Number of Companies per Region
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Proprietary & Confidential Research Solutions, Inc. 14<br>14<br>Competitive Intelligence<br>Patent Management<br>Clinical Research<br>Medical Liaisons<br>R&D<br>Regulatory<br>Post Market Surveillance<br>Business Development<br>Marketing<br>R&D<br>26
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Proprietary & Confidential Research Solutions, Inc. 15<br>15<br>RSSS<br>TAM<br>FY23<br> < $1B<br>RSSS<br>TAM<br>FY24+<br> > $4B<br>27
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Proprietary & Confidential Research Solutions, Inc. 16<br>Innovation Value Chain – Life Sciences<br>Competitive Intelligence<br>IP Management<br>Market Intelligence<br>Technology Landscape<br>Literature Search &<br>Discovery<br>Target Identification/<br>Hypothesis Generation<br>Data Science<br>Translational Science<br>Clinical Research<br>Clinical Operations &<br>Analysis<br>Medical Affairs<br>Regulatory Affairs<br>Pharmacovigilance/<br>Device Monitoring<br>Marketing<br>Business Development<br>Strategy R&D Clinical<br>Development<br>Post Market &<br>Commercial<br>Market Access<br>Research Solutions Reprints Desk Proprietary & Confidential 19
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Knowledge<br>Graphs
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Proprietary & Confidential Research Solutions, Inc. 18<br>Graph Databases<br>18<br>A graph database stores relationships in a format known as a<br>triple, composed of a subject, predicate, and object.<br>The subject and the object are<br>called nodes, which store data<br>entities, and the predicate is called<br>an edge, which stores relationships<br>between entities.<br>NODE NODE<br>EDGE<br>Proprietary & Confidential 18
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Proprietary & Confidential Research Solutions, Inc. 19<br>Taxonomies/Ontologies<br>NLP, ML, & LLM<br>Knowledge Graphs Specific Use Cases<br>NLP, ML, & LLM NLP, ML, & LLM<br>Using AI to Build Knowledge Discovery Systems
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Knowledge Graphs Link<br>Concepts to Greatly<br>Enhance Search &<br>Discovery<br>Visualization of a network of connections can<br>immediately provide context.<br>At the center of the illustration is Michael Houghton, a<br>Nobel Prize winner in Physiology or Medicine in 2020<br>for discovering the Hepatitis C virus. Here we see<br>some of his network of co<br>-authors of his research<br>publications, alongside other topics about which he<br>has researched and written.<br>A quick glance relays the context of his research<br>activities and his potential as a Key Opinion Leader<br>..<br>Research Solutions Reprints Desk Proprietary & Confidential 20
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Knowledge Graphs Were<br>Used to Rapidly Shortlist<br>Therapies for COVID-19<br>https://pubs.acs.org/doi/10.1021/acs.jproteome.0c00316<br>Research Solutions Reprints Desk Proprietary & Confidential 17<br>In early 2020, researchers used a comprehensive<br>Knowledge Graph that looked at 39 types of<br>relationships connecting drugs, diseases,<br>proteins/genes, pathways, and expressions from a<br>large scientific corpus of 24 million PubMed<br>publications to shortlist 41 existing drugs that could be<br>tested to treat COVID-19.
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Opportunity
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Proprietary & Confidential Research Solutions, Inc. 23<br>Innovation Value Chain – Life Sciences<br>Competitive Intelligence<br>IP Management<br>Market Intelligence<br>Technology Landscape<br>Literature Search &<br>Discovery<br>Target Identification/<br>Hypothesis Generation<br>Data Science<br>Translational Science<br>Clinical Research<br>Clinical Operations &<br>Analysis<br>Medical Affairs<br>Regulatory Affairs<br>Pharmacovigilance/<br>Device Monitoring<br>Marketing<br>Business Development<br>Strategy R&D Clinical<br>Development<br>Post Market &<br>Commercial<br>Market Access<br>Research Solutions Reprints Desk Proprietary & Confidential 19
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Proprietary & Confidential Research Solutions, Inc. 24<br>Innovation Value Chain – Life Sciences – Article Galaxy (“AG”) 2021<br>Literature Access<br>Strategy R&D Clinical<br>Development<br>Post Market &<br>Commercial<br>Research Solutions Reprints Desk Proprietary & Confidential 20
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Proprietary & Confidential Research Solutions, Inc. 25<br>Innovation Value Chain – Life Sciences – AG 2023 + Curedatis + AGR<br>Literature Search &<br>Management<br>Medical Affairs<br>Regulatory Affairs<br>Pharmacovigilance/<br>Device Monitoring<br>Strategy R&D Clinical<br>Development<br>Post Market &<br>Commercial<br>Research Solutions Reprints Desk Proprietary & Confidential 21
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Proprietary & Confidential Research Solutions, Inc. 26<br>Innovation Value Chain – Life Sciences – RSSS + ResoluteAI – 2023<br>Competitive Intelligence<br>IP Management<br>Market Intelligence<br>Technology Landscape<br>Literature Search &<br>Discovery<br>Translational Science<br>Clinical Research<br>Clinical Operations &<br>Analysis<br>Medical Affairs<br>Regulatory Affairs<br>Pharmacovigilance/<br>Device Monitoring<br>Marketing<br>Business Development<br>Target Identification/<br>Hypothesis Generation<br>Data Science Market Access<br>Strategy R&D Clinical<br>Development<br>Post Market &<br>Commercial<br>Research Solutions Reprints Desk Proprietary & Confidential 22
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Solutions
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Proprietary & Confidential Research Solutions, Inc. 28<br>RSSS Product Ecosystem:<br>Current Solutions Article Galaxy/References & Curedatis Focus of R&D Use Cases<br>Research &<br>Development<br>Systematic<br>Lit. Review<br>Document<br>Delivery<br>Reference<br>Manager<br>Department /<br>Persona Group<br>Typical Innovation Workflow<br>Doc Del Knowledge Management<br>Current core RSSS users come from R&D, Clinical<br>Research, and Medical Affairs, and we help them find,<br>access and organize scientific journal content.
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Proprietary & Confidential Research Solutions, Inc. 29<br>RSSS Product Ecosystem:<br>By Adding ResoluteAI, We More Completely Address R&D Use Cases As Part of A Workflow<br>Research &<br>Development<br>Systematic<br>Lit. Review Clinical Trial KOL Comp.<br>Landsc.<br>Document<br>Delivery<br>Reference<br>Manager<br>Patents<br>Search<br>Department /<br>Persona Group<br>Typical Innovation Workflow<br>Doc Del Knowledge Management<br>With ResoluteAI, we will increase the number of R&D use<br>cases and data sets we can leverage and thereby more<br>completely address R&D information overload needs.
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Proprietary & Confidential Research Solutions, Inc. 30<br>Product Roadmap<br>Innovation User<br>Journey<br>Search & Discovery (Document) Delivery Knowledge<br>Management Creation<br>Today Resolute.AI<br>Foundation<br>Nebula<br>RSSS<br>Article Galaxy / References<br>Curedatis
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Proprietary & Confidential Research Solutions, Inc. 31<br>Product Roadmap<br>GTM 3-6 Months<br>After Close<br>Foundation<br>Clinical Research<br>Foundation Key<br>Opinion Leader<br>DocDel<br>integrati<br>on<br>Search Article Galaxy / References<br>Post Market Surveillance Curedatis<br>Innovation User<br>Journey<br>Search & Discovery (Document) Delivery Knowledge<br>Management Creation<br>Today Resolute.AI<br>Foundation<br>Nebula<br>RSSS<br>Article Galaxy / References<br>Curedatis
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Proprietary & Confidential Research Solutions, Inc. 32<br>Product Roadmap<br>GTM 6 – 24 Months<br>After Closure<br> “Project Orange”<br>GTM 3-6 Months<br>After Closure<br>Foundation<br>Clinical Research<br>Foundation Key<br>Opinion Leader<br>DocDel<br>integrati<br>on<br>Search Article Galaxy / References<br>Post Market Surveillance Curedatis<br>Innovation User<br>Journey<br>Search & Discovery (Document) Delivery Knowledge<br>Management Creation<br>Today Resolute.AI<br>Foundation<br>Nebula<br>RSSS<br>Article Galaxy / References<br>Curedatis
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Proprietary & Confidential Research Solutions, Inc. 33<br>RSSS Product Ecosystem – Long Term:<br>Competitive<br>Intelligence<br>Research &<br>Development<br>Clinical Research<br> & Operations<br>IP / Patent<br>Management<br>Business<br>Development<br>Medical Affairs<br>Clinical Trial (Drug)<br>Pipeline<br>Document<br>Delivery<br>Reference<br>Manager<br>Comp.<br>Landsc. KOL<br>Financials &<br>News<br>Systematic<br>Lit. Review Clinical Trial KOL Comp.<br>Landsc.<br>Document<br>Delivery<br>Reference<br>Manager<br>Systematic<br>Lit. Review Clinical Trial KOL Comp.<br>Landsc.<br>Document<br>Delivery<br>Reference<br>Manager<br>Freedom to<br>Operate<br>Comp.<br>Landsc.<br>Document<br>Delivery<br>Reference<br>Manager Regulatory Patents<br>Search<br>Patents<br>Search<br>Patents<br>Search<br>Patent<br>Landsc.<br>Systematic<br>Lit. Review Clinical Trial KOL Comp.<br>Landsc.<br>Document<br>Delivery<br>Reference<br>Manager Regulatory<br>Regulatory<br>Regulatory<br>Clinical Trial (Drug)<br>Pipeline<br>Document<br>Delivery<br>Reference<br>Manager<br>Comp.<br>Landsc. KOL<br>Financials &<br>News<br>Patents<br>Search Regulatory<br>Department /<br>Persona Group<br>Typical Innovation Workflow<br>DMUs / Admins Cross Module Data Analytics & Administration Portal<br>Future Workflow Modules with Foundation Current RSSS Products<br>Adding Resolute.ai Modules Completes Workflows for Specific Use Cases Can Be Created for Users from Throughout<br>Innovation Management
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Financials
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Proprietary & Confidential Research Solutions, Inc. 35<br>Revenue Profile<br>Platforms<br> • Fastest-growing and recurring<br> • No direct substitute<br> • High retention rates (>105%)<br> • TTM gross margin 88.0%<br>Transactions<br> • Sticky, scalable, repeat revenue<br> • TTM gross margin 24.2%<br>$23.7 $24.8 $26.2 $26.0 $27.2 $26.6 $26.1 $28.0<br>FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23<br>$0.4<br>$1.0<br>$1.8<br>$2.8<br>$3.9<br>$5.1<br>$6.8<br>$8.3<br>FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23<br>FY2016<br>Revenue<br>$24.1M<br>FY2017<br>Revenue<br>$25.8M<br>FY2018<br>Revenue<br>$28.0M<br>FY2019<br>Revenue<br>$28.8M<br>FY2020<br>Revenue<br>$31.1M<br>FY2021<br>Revenue<br>$31.8M<br>FY2022<br>Revenue<br>$32.9M<br>TTM<br>Revenue<br>$36.3M
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Proprietary & Confidential Research Solutions, Inc. 36<br>Balance Sheet Supports Growth<br> © 2022 Research Solutions, Inc. All Rights Reserved<br>$ Millions Mar 31, 2023 Jun 30, 2022<br>Cash and equivalents 12.1 10.6<br>Accounts receivable 6.8 5.3<br>Prepaid expenses/royalties 0.4 0.3<br>Other assets 1.3 0.9<br>Total Assets $20.6 $17.0<br>Accounts payable 7.7 6.6<br>Deferred revenue 6.5 5.5<br>Lease liability 0.0 0.0<br>Total Liabilities $14.2 $12.1<br>Total Stockholders' Equity $6.4 $4.9<br>$12.1 million in cash<br>$0 debt<br>Untapped $2.5 million max line of credit with SVB<br>Federal net operating losses (NOLs) of ~$15 million, state NOLs<br>of ~$6 million<br>We are fully funded to execute our organic growth strategy<br> • Greater of Prime + 1%, or 5%<br> • NOLs expire completely in 2040<br>Select Balance Sheet Items
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Proprietary & Confidential Research Solutions, Inc. 37<br>Key Takeaways<br>Strategic SaaS Transformation Underway: platform interconnects &<br>extracts highly useful scientific, technical & medical content & data<br>Information Logistics Backbone: transaction business provides multi-million dollar information backbone for platform growth<br>Large TAM, Underserved Market:~700,000 SMBs throughout the<br>world, low penetration<br>Highly Leverageable Financial Model: platforms business drives<br>recurring revenue, low churn, ~80%+ gross margin<br>Strong ROI to Users<br>High renewal rate & over 105% net retention<br>$4.1M $4.4M $4.7M $5.0M<br>$5.6M $5.9M $6.3M $6.8M $7.3M<br>$7.9M $8.3M $8.8M $9.1M<br>374 401 432 461 512 553 590 646 680 733 756 790 815<br>Q3 FY20<br>Q4 FY20<br>Q1 FY21<br>Q2 FY21<br>Q3 FY21<br>Q4 FY21<br>Q1 FY22<br>Q2 FY22<br>Q3 FY22<br>Q4 FY22<br>Q1 FY23<br>Q2 FY23<br>Q3 FY23<br>Annual Recurring Revenue<br>Cum ulativ e Deployments<br>$27.0M $27.2M $27.0M $26.7M $26.7M $26.6M $26.2M $26.3M $26.3M $26.1M $26.6M $26.9M<br>$28.0M<br>TTM 3/31/20<br>TTM 6/30/20<br>TTM 9/30/20<br>TTM 12/31/20<br>TTM 3/31/21<br>TTM 6/30/21<br>TTM 9/30/21<br>TTM 12/31/21<br>TTM 3/31/22<br>TTM 6/30/22<br>TTM 9/30/22<br>TTM 12/31/22<br>TTM 03/31/23<br>TTM Revenue<br>Stable Transaction Business Continues<br>Platform Transition Underway
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Proprietary & Confidential Research Solutions, Inc. 38<br>Key Stats<br>Stock Price (5/11/23) $2.10<br>52 Week Low-High $1.69-$2.40<br>Avg. Daily Vol. (3 month) 12,737<br>Shares Out/Diluted* 29.5M/32.4M<br>Insider Holdings* ~29.3%<br>Enterprise Value $49.8M<br>Market Cap $62.0M<br>Employee Count<br>(including full time<br>contractors)<br>152 Total<br>35 USA/106 MX<br>11 Contractors<br>Total Revenue (ttm as of 3/31/23) $36.3M<br>Net Income (ttm) $(0.2)M<br>Adjusted EBITDA (ttm) $1.1M<br>EV/Revenue 1.4x<br>Cash and Equiv. (mrq) $12.1M<br>Total Assets (mrq as of 3/31/23) $20.6M<br>Total Debt (mrq) –<br>Total Liabilities (mrq) $14.2M<br>Total Equity $6.4M<br>Percentage of Outstanding Shares<br>Peter Derycz & Family 13.3%<br>Mgmt, Directors, Employees* 16.0%<br>Richard Witmer, Jr. 8.8%<br>Bristol Inv. Fund, Ltd. 8.8%<br>Cove Street Capital 9.0%<br>Other ~44.1%<br>Total 100.0 %<br>* Includes 2.1 million restricted shares issued pursuant to the Company’s Long-Term Equity Bonus Plan (LTEBP). These shares vest in 20% increments at vesting targets ranging between $3.00 and $6.00 per<br>share. For more information on the LTEBP see our latest Form 10-Q quarterly filing.
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Proprietary & Confidential Research Solutions, Inc. 39<br>Management Team<br>Michiel van der Heijden<br>Chief Product Officer<br>Shane Hunt<br>Chief Revenue Officer<br>Rick Salloum<br>Chief Technology Officer<br>Roy W. Olivier<br>CEO & President<br>William Nurthen<br>Chief Financial Officer<br>Scott Ahlberg<br>Chief Operations Officer<br>Joseph Tracy<br>Vice President of Marketing
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Proprietary & Confidential Research Solutions, Inc. 40<br>www.researchsolutions.com<br>For more information, please visit:<br>Investor Relations Contact<br>Three Part Advisors, LLC / Phone: 214-872-2710<br>Steven Hooser<br>shooser@threepa.com<br>John Beisler<br>jbeisler@threepa.com<br>Contact Us<br>Research Solutions, Inc. / Email: ir@researchsolutions.com<br>10624 S. Eastern Ave., Ste. A-614 - Henderson, Nevada 89052<br>Roy W. Olivier<br>CEO and President<br>Bill Nurthen<br>CFO
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Appendix
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Proprietary & Confidential Research Solutions, Inc. 42<br>Capitalization Table<br>* Includes 2.1 million restricted shares issued pursuant to the Company’s Long-Term Equity Bonus Plan (LTEBP). These shares vest in 20% increments at vesting targets<br>ranging between $3.00 and $6.00 per share. For more information on the LTEBP see our latest Form 10-Q quarterly filing.<br>1 Paul Kessler exercises investment & voting control over the shares held by Bristol Investment Fund, Ltd. and is the brother-in-law of Peter Derycz, Chairman.<br>Security As Of March 31, 2023 Weighted Average<br>Exercise Price<br>Percentage<br>Fully Diluted<br>Common Stock Outstanding* 29,500,764 N/A 91.0%<br>Stock Options 2,925,574 $1.87 9.0%<br>Warrants 0 N/A 0.0%<br>Fully Diluted Shares Outstanding* 32,426,338 100.0%<br>Major Shareholders As Of March 31, 2023 Security Percentage OF COMMON<br>STOCK OUTSTANDING<br>Peter Derycz & Family 3,935,986 Common Stock 13.3%<br>Management, Directors, Employees* 4,708,474 Common Stock 16.0%<br>Richard Witmer, Jr. 2,608,448 Common Stock 8.8%<br>Bristol Investment Fund, Ltd.1 2,582,108 Common Stock 8.8%<br>Cove Street Capital 2,646,564 Common Stock 9.0%<br>Total 16,481,580 55.9%
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Proprietary & Confidential Research Solutions, Inc. 43<br>Research Solutions, Inc. (NASDAQ:RSSS)<br>researchsolutions.com<br>Includes Non<br>-GAAP Financial Data<br>Quarterly Financial Results
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Proprietary & Confidential Research Solutions, Inc. 44<br>Research Solutions, Inc. (NASDAQ:RSSS)<br>researchsolutions.com<br>Includes Non<br>-GAAP Financial Data<br>Quarterly Financial Results
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Proprietary & Confidential Research Solutions, Inc. 45<br>Quarterly Financial Results<br>1 Annual Recurring Revenue (Non-GAAP Measure) - the value of contracted platform subscription recurring revenue normalized to a one year period.<br>2 Customers - the sum of the total quantity of customers per month for each month in the period, divided by the respective number of months in the period. The quantity of<br>customers per month is defined as customers with at least one transaction during the month.<br>3 Adjusted EBITDA (Non-GAAP Measure) - defined as net income (loss), plus interest expense, other income (expense), foreign currency transaction loss, provision for<br>income taxes, depreciation and amortization, stock-based compensation, income and gain on sale of discontinued operations, and other potential adjustments that may arise.<br>Research Solutions, Inc. (NASDAQ:RSSS)<br>researchsolutions.com<br>Includes Non-GAAP Financial Data
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Proprietary & Confidential Research Solutions, Inc. 46<br>Product Summaries<br>Article Galaxy/References: Enables the discovery, access and management of Scientific content published by all the most important scientific publishers<br>Article Galaxy Scholar: does this as well but to address specific needs of Academic Libraries<br>Foundation: links together key datasets relevant to all stages of Innovation via a proprietary Knowledge Graph leveraging expertise in metadata creation<br>and application of key taxonomies. Use cases cover Competitive & Business Intelligence, R&D, Clinical Research, Medical Affairs (eg: KOLs), Post Market<br>Surveillance and IP Management (Patents)<br>Nebula: Leverages the Foundation technology and applies it to customer internal datasets, allowing for the management of both internal and external<br>datasets and knowledge<br>Text & Data Mining: A common request form customers is an easy and copyright compliant way to source content from all scientific publishers for TDM<br>projects. We are currently working with publishers to create a new solution which meets both customer and publisher needs<br>API's: All these products are available for integration in customer internal tools via API calls
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Proprietary & Confidential Research Solutions, Inc. 47<br>Stock Symbol RSSS
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