Research Solutions reports Q2 EPS (7c) with items, consensus 2c

Q2 EPS includes a provision of approximately $2.4M related to increasing the projected contingent earnout liability for Scite. Reports Q2 revenue $11.9M, consensus $11.83M. “Our Q2 results benefited from the continued recognition of the advantages and savings our products offer within the research process and the conclusion of the election cycle, which removed some near-term economic uncertainty. We experienced strong growth in both B2B and B2C ARR. The 61 net new B2B platform deployments represent our best organic performance ever recorded in a quarter, and we also recorded a nearly $1M sequential increase in B2C recurring revenue. The reported net loss in the quarter is related to the continued outperformance of Scite, which experienced strong academic B2B sales in the quarter in addition to B2C growth,” said CEO Roy Olivier. “Lastly, I am delighted that during the quarter our former Chairman largely exited his ownership position, eliminating an overhang that had weighed down the stock price for some time, enabling that stock to be diversified across multiple new shareholders.”