Revenue growth has decelerated into a 4.3% contraction as of 2026Q3, while gross margins remain structurally capped at 49.1% due to persistent third-party royalty obligations.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 |
|---|
| Sales/Revenue | 48.66M | 49.06M | 44.62M | 37.7M | 32.93M | 31.76M | 31.06M | 28.79M | 28.02M | 25.75M | 34.36M | 31.9M | 36.55M | 45.5M | 42.82M | 33.5M | 24.94M | 14.65M | 12.21M | 3.85M |
| Revenue Growth % | -0.18% | 9.94% | 18.35% | 14.48% | 3.71% | 2.25% | 7.87% | 2.77% | 8.82% | -25.07% | 7.72% | -12.72% | -19.67% | 6.26% | 27.81% | 34.35% | 70.17% | 20.01% | 217.08% | - |
| Cost of Goods Sold | 24.28M | 24.86M | 24.98M | 23M | 20.91M | 21.47M | 21.42M | 20.45M | 20.67M | 19.64M | 27.86M | 25.72M | 28.2M | 35.95M | 34.78M | 29.59M | 21.02M | 11.41M | 10.02M | 3.25M |
| COGS % of Revenue | - | 50.68% | 55.99% | 61.01% | 63.5% | 67.61% | 68.97% | 71.02% | 73.77% | 76.29% | 81.08% | 80.64% | 77.17% | 79.01% | 81.22% | 88.34% | 84.29% | 77.89% | 82.1% | 84.48% |
| Gross Profit | 24.38M | 24.2M | 19.64M | 14.7M | 12.02M | 10.29M | 9.64M | 8.34M | 7.35M | 6.1M | 6.5M | 6.18M | 8.35M | 9.55M | 8.04M | 3.91M | 3.92M | 3.24M | 2.19M | 597.63K |
| Gross Margin % | 50.1% | 49.32% | 44.01% | 38.99% | 36.5% | 32.39% | 31.03% | 28.98% | 26.23% | 23.71% | 18.92% | 19.36% | 22.83% | 20.99% | 18.78% | 11.66% | 15.71% | 22.11% | 17.9% | 15.52% |
| Gross Profit Growth % | - | 23.2% | 33.6% | 22.31% | 16.85% | 6.72% | 15.51% | 13.53% | 20.4% | -6.1% | 5.25% | -26% | -12.61% | 18.78% | 105.82% | -0.25% | 20.88% | 48.2% | 265.81% | - |
| Operating Expenses | 20.5M | 21.69M | 20.41M | 14.46M | 13.65M | 10.57M | 10.49M | 9.57M | 9.31M | 9.17M | 6.92M | 6.57M | 10.13M | 9.66M | 12.18M | 9.16M | 4.24M | 4.41M | 2.55M | 1.1M |
| OpEx % of Revenue | - | 44.22% | 45.74% | 38.36% | 41.45% | 33.28% | 33.77% | 33.25% | 33.22% | 35.61% | 20.14% | 20.6% | 27.7% | 21.24% | 28.44% | 27.35% | 16.99% | 30.12% | 20.92% | 28.57% |
| Selling, General & Admin | 13.97M | 15.02M | 14.11M | 10.79M | 9.78M | 7.95M | 8.32M | 7.4M | 7.36M | 9.03M | 6.83M | 6.4M | 9.62M | 9.07M | 10.72M | 8.49M | 4.03M | 4.18M | 2.21M | 1M |
| SG&A % of Revenue | - | 30.62% | 31.62% | 28.62% | 29.69% | 25.03% | 26.8% | 25.68% | 26.26% | 35.09% | 19.88% | 20.06% | 26.31% | 19.94% | 25.04% | 25.34% | 16.16% | 28.51% | 18.12% | 26.09% |
| Research & Development | 5.88M | 5.63M | 5.44M | 3.74M | 3.71M | 2.64M | 2.12M | 2.14M | 1.8M | 1.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 11.48% | 12.2% | 9.93% | 11.27% | 8.33% | 6.83% | 7.43% | 6.42% | 5.73% | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 651.35K | 1.04M | 857.67K | -69.3K | 161.55K | -24.44K | 43.18K | 38.82K | -1.64M | -1.34M | 90.85K | 272.94K | 236.27K | 347.03K | 1.46M | 673.88K | 206.62K | 235.66K | 341.46K | 95.47K |
| Operating Income | 3.88M | 2.5M | -769.54K | 238.61K | -1.63M | -283.03K | -851.89K | -1.25M | -1.95M | -3.08M | -1.29M | -494.45K | -1.05M | 363.69K | -6.65M | -5.26M | -321.18K | -1.17M | -367.81K | -502.62K |
| Operating Margin % | 7.97% | 5.1% | -1.72% | 0.63% | -4.96% | -0.89% | -2.74% | -4.36% | -6.96% | -11.98% | -3.74% | -1.55% | -2.89% | 0.8% | -15.54% | -15.69% | -1.29% | -8.01% | -3.01% | -13.05% |
| Operating Income Growth % | - | 425.03% | -422.51% | 114.62% | -476.58% | 66.78% | 32.12% | 35.65% | 36.78% | -139.72% | -160.23% | 53.13% | -390.08% | 105.47% | -26.55% | -1536.75% | 72.63% | -219.03% | 26.82% | - |
| EBITDA | 5.14M | 3.75M | 66.73K | 291.26K | -1.61M | -199.18K | -708.33K | -1.1M | -1.69M | -2.95M | -1.2M | -319.63K | -547.31K | 981.58K | -5.12M | -4.51M | -50.2K | -889.84K | -89.32K | -458.44K |
| EBITDA Margin % | 10.56% | 7.64% | 0.15% | 0.77% | -4.9% | -0.63% | -2.28% | -3.82% | -6.02% | -11.46% | -3.48% | -1% | -1.5% | 2.16% | -11.96% | -13.45% | -0.2% | -6.07% | -0.73% | -11.91% |
| EBITDA Growth % | 60.33% | 5514.69% | -77.09% | 118.04% | -710.46% | 71.88% | 35.67% | 34.74% | 42.83% | -146.75% | -274.14% | 41.6% | -155.76% | 119.16% | -13.68% | -8878.02% | 94.36% | -896.19% | 80.52% | - |
| D&A (Non-Cash Add-back) | 1.26M | 1.25M | 836.27K | 52.65K | 17.65K | 83.85K | 143.57K | 153.9K | 262.99K | 133.69K | 90.85K | 174.82K | 507.68K | 617.9K | 1.53M | 750.19K | 270.98K | 283.58K | 278.49K | 44.18K |
| EBIT | 4.97M | 2.3M | -748.15K | 116.66K | -1.49M | -318.99K | -832.37K | -1.23M | -1.89M | -3.06M | -1.32M | -493.24K | -1.05M | 279.66K | -6.63M | -5.26M | -311.59K | -1M | -306.01K | -502.62K |
| Net Interest Income | -246.53K | 0 | 0 | 0 | -136.74K | 0 | 0 | 0 | -4K | -12K | -17.38K | -18.06K | -13.82K | -89.41K | -220.66K | -140.84K | -2.75K | 4.53K | 79.02K | 82.14K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.23K | 4.17K | 39.53K | 111.34K | 88.49K |
| Interest Expense | 246.53K | 0 | 0 | 0 | 136.74K | 0 | 0 | 0 | 4K | 12K | 17.38K | 18.06K | 13.82K | 89.41K | 220.66K | 144.07K | 6.92K | 34.99K | 32.31K | 6.35K |
| Other Income/Expense | 697.12K | -1.15M | -2.9M | 338.62K | 7.15K | 1.15K | 80.04K | 107.31K | 54.18K | 11.86K | -48.99K | -16.84K | -13.05K | 70.45K | -202.02K | -150.72K | 2.67K | 136.81K | 29.49K | 82.14K |
| Pretax Income | 4.58M | 1.35M | -3.67M | 577.23K | -1.62M | -281.88K | -771.85K | -1.15M | -1.9M | -3.07M | -1.34M | -511.29K | -1.07M | 190.25K | -6.85M | -5.41M | -318.51K | -1.03M | -338.32K | -420.47K |
| Pretax Margin % | 9.41% | 2.75% | -8.23% | 1.53% | -4.93% | -0.89% | -2.49% | -3.99% | -6.77% | -11.93% | -3.89% | -1.6% | -2.92% | 0.42% | -16.01% | -16.14% | -1.28% | -7.06% | -2.77% | -10.92% |
| Income Tax | 60.25K | 82.81K | 113.07K | 5.6K | 7.62K | 3.2K | 7.84K | 27.04K | 39.78K | 35.49K | 28.16K | 30.89K | 16.1K | -1.67K | -322.11K | 0 | 1.13K | 32.17K | -29.49K | 0 |
| Effective Tax Rate % | 1.32% | 6.14% | -3.08% | 0.97% | -0.47% | -1.14% | -1.02% | -2.36% | -2.1% | -1.16% | -2.11% | -6.04% | -1.51% | -0.88% | 4.7% | 0% | -0.36% | -3.11% | 8.72% | 0% |
| Net Income | 4.52M | 1.27M | -3.79M | 571.62K | -1.63M | -285.09K | -662.24K | -1.17M | -1.68M | -2.29M | -497.86K | 774.22K | -1.87M | 191.92K | -6.53M | -5.41M | -307.19K | -1.07M | -338.32K | -415.49K |
| Net Margin % | 9.28% | 2.58% | -8.49% | 1.52% | -4.96% | -0.9% | -2.13% | -4.08% | -5.99% | -8.91% | -1.45% | 2.43% | -5.11% | 0.42% | -15.26% | -16.14% | -1.23% | -7.28% | -2.77% | -10.79% |
| Net Income Growth % | 215.34% | 133.42% | -762.43% | 135.02% | -472.59% | 56.95% | 43.62% | 30.03% | 26.81% | -360.69% | -164.3% | 141.48% | -1072.49% | 102.94% | -20.8% | -1660.33% | 71.18% | -215.1% | 18.57% | - |
| Net Income (Continuing) | 4.52M | 1.27M | -3.79M | 571.62K | -1.63M | -285.09K | -779.69K | -1.17M | -1.94M | -3.11M | -1.36M | -542.18K | -1.08M | 191.92K | -6.53M | -5.41M | -319.65K | -1.07M | -327.81K | -420.47K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 117.44K | 214.74K | 256.99K | 573.45K | 866.02K | 1.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34.9K | 47.36K | 50.1K | 51.13K |
| EPS (Diluted) | 0.14 | 0.04 | -0.13 | 0.02 | -0.06 | -0.01 | -0.03 | -0.05 | -0.07 | -0.10 | -0.03 | 0.04 | -0.11 | 0.01 | -0.38 | -0.36 | -0.02 | -0.08 | -0.03 | -0.04 |
| EPS Growth % | 211.56% | 130.77% | -763.27% | 131.72% | -461.82% | 65.08% | 36.11% | 31.05% | 27.56% | -252.5% | -170% | 136.36% | -1200% | 102.63% | -5.56% | -1418.99% | 71.24% | -205.19% | 30.95% | - |
| EPS (Basic) | - | 0.04 | -0.13 | 0.02 | -0.06 | -0.01 | -0.03 | -0.05 | -0.07 | -0.10 | -0.03 | 0.04 | -0.11 | 0.01 | -0.38 | -0.36 | -0.02 | -0.08 | -0.03 | -0.04 |
| Diluted Shares Outstanding | 31.62M | 30.68M | 28.86M | 29.14M | 26.42M | 26.01M | 24.76M | 23.82M | 23.47M | 23.24M | 17.77M | 17.96M | 17.23M | 17.26M | 17.05M | 14.96M | 12.97M | 12.95M | 12.54M | 10.63M |
| Basic Shares Outstanding | 31.62M | 30.68M | 28.86M | 26.86M | 26.42M | 26.01M | 24.76M | 23.82M | 23.47M | 23.24M | 17.05M | 17.45M | 17.23M | 17.12M | 17.05M | 14.96M | 12.97M | 12.95M | 12.54M | 10.63M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Open Access Mandate Headwinds
According to the most recent quarterly filings, Research Solutions has seen revenue growth decelerate from double-digit gains in 2024 to a contraction of 4.3% in 2026Q3, suggesting that the company's transition from legacy fulfillment to a platform-centric model is facing significant top-line headwinds.
The shift from transactional fulfillment to recurring SaaS revenue appears to be losing momentum, as evidenced by the recent negative growth prints. Investors should monitor whether this deceleration reflects a saturation of the core life sciences market or a broader cyclical pullback in R&D spending among the company's primary biotech client base.
Based on reported financial data, the company's gross margin has fluctuated within a narrow band, peaking at 52.4% in 2026Q2 before retreating to 49.1% in 2026Q3, highlighting the persistent influence of third-party royalty costs on the firm's overall profitability profile.
The inability to consistently expand gross margins suggests that the company remains tethered to the pricing power of external STM publishers. Unless the platform-based revenue mix increases significantly, the firm may struggle to achieve the margin expansion typically expected of pure-play software providers.
As reported in recent income statements, operating income has remained volatile, oscillating between a loss of $420K in 2024Q2 and a peak of $1.1M in 2026Q3, indicating that the company has yet to demonstrate consistent operating leverage as it scales its software platform.
The lack of a clear, upward trend in operating margins suggests that SG&A and R&D expenses are scaling in lockstep with revenue, rather than providing the expected efficiency gains. This warrants further investigation into whether the current cost structure is optimized for long-term profitability or if ongoing integration costs are masking underlying operational improvements.
Financial statements indicate that the company's reliance on transactional fulfillment, which carries high variable costs, remains a significant risk, as evidenced by the 49.1% gross margin reported in 2026Q3, which sits well below the levels typically commanded by high-growth software-as-a-service enterprises.
Short-term observers may argue that the company's valuation is vulnerable to the rise of Open Access mandates, which could render the transactional fulfillment model obsolete. If the platform software cannot sufficiently differentiate itself from free alternatives, the company may face a structural decline in its core revenue stream.
Quick answers to the most common questions about buying RSSS stock.
For fiscal year 2025, Research Solutions, Inc. (RSSS) reported total revenue of $49.1M. This represents a 1174.0% increase compared to $3.9M in 2007.
Research Solutions, Inc. (RSSS) is profitable, generating $1.3M in net income for the fiscal year ending 2025 with a net profit margin of 2.6%.
Research Solutions, Inc. (RSSS) reported an operating income of $2.5M, resulting in an operating profit margin of 5.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Research Solutions, Inc. (RSSS) generated $24.2M in gross profit for the year, representing a gross profit margin of 49.3%. This demonstrates the company's core pricing power and production efficiency.