ENCINO, Calif., July 26, 2018 /PRNewswire/ -- Research Solutions, Inc. (OTCQB: RSSS), a provider of workflow efficiency solutions for R&D-driven organizations, has appointed two key senior executives to the roles of chief sales officer and chief marketing officer.
"At the start of our year, we developed a strategy to optimize our sales and marketing resources, seeking more efficient ways to acquire customers through digital marketing, content generation and focused sales management," said Peter Derycz, president and CEO of Research Solutions. "These two critical hires represent another key step in our strategy. Rogier and Yohann both possess deep knowledge in their respective fields and have proven their ability to lead and grow dynamic sales and marketing teams. We are confident they will help Research Solutions in our goal of becoming a key workflow solution for our R&D-driven customers."
Rogier van Erkel, Chief Sales Officer
Rogier van Erkel joins Research Solutions with 12 years of sales management experience at Elsevier, an information and analytics company, and one of the world's major providers of scientific, technical and medical information. In his most recent role, he served as sales director, leading a global team and agent network. He managed a diverse sales portfolio consisting of four product groups selling to businesses all over the world. In that role, he specialized in information products, input for discovery tools and solutions to optimize and maximize customer workflow. He also served in other senior sales roles in Elsevier and before that, managed sales and operations teams for five years at Renewi (formerly Van Gansewinkel), a leading waste management company operating across Europe.
For charity, Rogier coaches start-ups to improve their sales through his involvement in incubator firms Rockstart and ACE.
Yohann Georgel, Chief Marketing Officer
Yohann Georgel brings to Research Solutions 12 years of marketing experience, most recently serving as senior director of digital marketing for PrimeSport for over six years. PrimeSport is the leader in providing direct access to the biggest sporting events on the planet, offering tickets, travel and hospitality. Prior to that, he was a director of digital marketing for OleOle, a social media platform for soccer fans worldwide. While there, he was in charge of marketing in 10 different languages.
Yohann's passion for data and algorithms led him to pursue a career in digital marketing, specifically search engine optimization and marketing. Other areas of his expertise include data analysis, social media and user experience.
Preliminary Fiscal 2018 Results
Based on preliminary unaudited information, for the fourth quarter of fiscal 2018, Research Solutions expects to report total revenue of approximately $7.2 million, up 5% compared to $6.8 million in the same year-ago quarter. For fiscal 2018, Research Solutions expect to report total revenue of approximately $28.0 million, up 9% compared to $25.7 million in fiscal 2017.
Platform subscription revenue in the fourth quarter is expected to increase 66% to approximately $529,000 compared to $318,000 in the year-ago quarter. The quarter is expected to end with annual recurring revenue up 64% to $2.3 million (see the company's definition of annual recurring revenue below). For fiscal 2018, Platform subscription revenue is expected to increase 86% to approximately $1.8 million compared to $980,000 in fiscal 2017.
Transaction revenue in the fourth quarter is expected to increase 2% to approximately $6.6 million compared to $6.5 million in the same year-ago quarter. For fiscal 2018, Transaction revenue is expected to increase 6% to approximately $26.2 million from $24.8 million in fiscal 2017.
"We ended fiscal 2018 on a strong note, with continued growth in our Platforms business and steady growth in Transactions," continued Derycz. "We believe our momentum will carry into fiscal 2019 as we implement further Platforms improvements and sales and marketing enhancements that we expect to drive more efficient growth."
Research Solutions expects to present its full fiscal 2018 financial results in September.
Annual Recurring Revenue
The company defines annual recurring revenue as the value of contracted Platform subscription recurring revenue normalized to a one-year period.
About Research Solutions
Research Solutions, Inc. (OTCQB: RSSS) provides workflow efficiency solutions for R&D-driven organizations in life sciences, technology and academia worldwide. Our Software-as-a-Service platform provides tools or "Gadgets" that allow users to discover, access, manage and collaborate around science, technology and medical (STM) content and data. Our customers range from 70+% of the top 25 global pharmaceutical companies to emerging small and medium-sized businesses. We generate recurring revenue from subscriptions to our SaaS platform and transactional revenue from the sale of STM content. For more information, visit www.researchsolutions.com.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the company's products in the market; the company's success in obtaining new customers and new Platform deployments; the company's success in technology and product development; the company's ability to execute its business model and strategic plans, and all the risks and related information described from time to time in the company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the company's Securities and Exchange Commission Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. The company assumes no obligation to update the cautionary information in this release.
SOURCE Research Solutions, Inc.