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Research Solutions Reports Fiscal Second Quarter 2025 Results

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Reports 23 Percent Increase in ARR to $19.1 Million and 61 Net New Platform Deployments

HENDERSON, Nev., Feb. 13, 2025 /PRNewswire/ — Research Solutions, Inc. (NASDAQ: RSSS), the leading AI-powered research workflow platform, reported financial results for its fiscal second quarter ended December 31, 2024.

Fiscal Second Quarter 2025 Summary

Total revenue of $11.9 million, a 15.5% increase from the prior-year quarter.Platform revenue up 47% to $4.6 million. Platform revenue accounted for 39% of total revenue as compared to 30% in the prior-year quarter.Annual Recurring Revenue (“ARR”) up 23% to $19.1 million, which includes approximately $12.7 million of B2B recurring revenue and $6.4 million of B2C recurring revenue.Gross profit up 30% from the prior-year quarter. Total gross margin improved 540 basis points to 48.9%.Net loss of $2.0 million or ($0.07) per share, compared to a net loss of ($54,000) or nil per share in the prior-year quarter. The quarter’s results include a charge of approximately $2.4 million related to increasing the projected contingent earnout liability for Scite.Adjusted EBITDA of $963,000 compared to $318,000 in the prior-year quarter.   The result is inclusive of $112,000 in commission fees related to the sale of stock by the Company’s former Chairman.  On a trailing twelve-months (“TTM”) basis, the Company has now generated Adjusted EBITDA of $4.6 million, which represents a 9.5% margin.Cash flow from operations of over $1 million in the quarter, compared to $0.3 million in the prior-year quarter.

“Our second quarter 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 $1 million 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 Roy W. Olivier, President and CEO of Research Solutions. “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.” 

Fiscal Second Quarter 2025 Results

Total revenue was $11.9 million, a 15.5% increase from $10.3 million in the year-ago quarter as both platform and transaction revenue increased from the prior period.

Platform subscription revenue increased 47% to $4.6 million compared to $3.1 million in the year-ago quarter. The increase was primarily due to an increase in the total number of paid Platform deployments and B2C subscribers, as well as upsells to existing customers. The quarter ended with annual recurring revenue of $19.1 million, up 23% year-over-year (see the company’s definition of annual recurring revenue below).

Transaction revenue was $7.3 million, compared to $7.2 million in the second quarter of fiscal 2024. The increase was primarily due to increased copyright revenues. The transaction customer count for the quarter was 1,384, compared to 1,398 customers in the prior-year quarter (see the Company’s definition of active customer accounts and transactions below).

Total gross margin improved 540 basis points from the prior-year quarter to 48.9%. The increase was primarily driven by a continued revenue mix shift to the higher-margin Platforms business as well as increased margins in that business.

Total operating expenses were $5.7 million, compared to $4.9 million in the second quarter of 2024. The increases were related to additional costs in Sales and Marketing and Technology and Product Development, which include having a full quarter of Scite expenses in the period, compared to one month in the prior-year quarter.  There was also an increase in non-cash depreciation and amortization expense associated with the acquisitions completed in fiscal year 2024.

Net loss for the second quarter was $2.0 million, or ($0.07) per share, compared to net loss of ($54,000), or nil per share, in the prior-year quarter. The quarter’s results include a provision of approximately $2.4 million related to increasing the projected contingent earnout liability for Scite. Adjusted EBITDA was $963,0000, compared to $318,000 in the year-ago quarter (see definition and further discussion about the presentation of Adjusted EBITDA, a non-GAAP term, below).

Conference Call
Research Solutions President and CEO Roy W. Olivier and CFO Bill Nurthen will host the conference call, followed by a question and answer period.

Date: Thursday, February 13, 2025
Time: 5:00 p.m. ET (2:00 p.m. PT)
Dial-in number: 1-203-518-9848
Conference ID: RESEARCH

The conference call will be broadcast live and available for replay until March 13, 2025 by dialing  1-412-317-6671 and using the replay ID 11157678, and via the investor relations section of the company’s website at http://researchsolutions.investorroom.com/.

Fiscal Second Quarter Financial and Operational Summary Tables vs. Prior-Year Quarter

Quarter Ended December 31,

Six Months Ended December 31,

2024

2023

Change

% Change

2024

2023

Change

% Change

Revenue:

Platforms

$     4,601,257

$     3,125,584

$    1,475,673

47.2 %

$     8,930,902

$     5,725,776

$    3,205,126

56.0 %

Transactions

$     7,312,962

$     7,188,158

124,804

1.7 %

$   15,027,799

$   14,648,937

378,862

2.6 %

Total Revenue

11,914,219

10,313,742

1,600,477

15.5 %

23,958,701

20,374,713

3,583,988

17.6 %

Gross Profit:

Platforms

3,981,415

2,639,399

1,342,016

50.8 %

7,763,893

4,856,977

2,906,916

59.9 %

Transactions

1,839,678

1,844,403

(4,725)

-0.3 %

3,823,076

3,658,391

164,685

4.5 %

Total Gross Profit

5,821,093

4,483,802

1,337,291

29.8 %

11,586,969

8,515,368

3,071,601

36.1 %

Gross profit as a % of revenue:

Platforms

86.5 %

84.4 %

2.1 %

86.9 %

84.8 %

2.1 %

Transactions

25.2 %

25.7 %

-0.5 %

25.4 %

25.0 %

0.5 %

Total Gross Profit

48.9 %

43.5 %

5.4 %

48.4 %

41.8 %

6.6 %

Operating Expenses:

Sales and marketing

1,343,087

804,927

538,160

66.9 %

2,533,494

1,489,943

1,043,551

70.0 %

Technology and product development

1,506,849

1,336,558

170,291

12.7 %

2,879,607

2,581,137

298,470

11.6 %

General and administrative

2,008,201

2,023,848

(15,648)

-0.8 %

3,938,377

4,566,717

(628,340)

-13.8 %

Depreciation and amortization

306,233

155,749

150,484

96.6 %

618,328

215,369

402,959

187.1 %

Stock-based compensation

534,322

596,455

(62,133)

-10.4 %

952,311

1,188,269

(235,958)

-19.9 %

Foreign currency translation loss

29,554

(13,738)

43,292

NM

(74,686)

(7,118)

(67,568)

949.3 %

Total Operating Expenses

5,728,246

4,903,799

824,446

16.8 %

10,847,431

10,034,317

813,114

8.1 %

Income (loss) from operations

92,847

(419,997)

512,844

122.1 %

739,538

(1,518,949)

2,258,487

148.7 %

Other Income (Expenses):

Other income

(2,057,887)

376,426

(2,434,313)

NM

(1,989,362)

516,737

(2,506,099)

NM

Provision for income taxes

(15,194)

(10,057)

(5,137)

51.1 %

(61,406)

(39,459)

(21,947)

55.6 %

Total Other Income (Expenses):

(2,073,081)

366,369

(2,439,450)

NM

(2,050,768)

477,278

(2,528,046)

NM

Net income (loss)

$    (1,980,234)

$        (53,628)

(1,926,606)

NM

$   (1,311,230)

$   (1,041,671)

(269,559)

NM

NM

Adjusted EBITDA

$        962,956

$        318,469

$       644,487

202.4 %

$     2,235,491

$      (122,429)

$    2,357,920

-1926.0 %

Quarter Ended December 31,

Six Months Ended December 31,

2024

2023

Change

% Change

2024

2023

Change

% Change

Platforms:

B2B ARR (Annual recurring revenue*):

  Beginning of Period

$   12,187,834

$   11,020,241

$    1,167,593

10.6 %

$   12,060,201

$     9,444,130

$    2,616,071

27.7 %

   Incremental ARR

550,422

594,507

(44,085)

-7.4 %

678,055

2,170,618

(1,492,563)

-68.8 %

  End of Period

$   12,738,256

$   11,614,748

$    1,123,508

9.7 %

$   12,738,256

$   11,614,748

$    1,123,508

9.7 %

Deployments:

  Beginning of Period

1,029

880

149

16.9 %

1,021

835

186

22.3 %

   Incremental Deployments

61

62

(1)

-1.6 %

69

107

(38)

-35.5 %

  End of Period

1,090

942

148

15.7 %

1,090

942

148

15.7 %

ASP (Average sales price):

  Beginning of Period

$          11,844

$          12,523

$             (679)

-5.4 %

$          11,812

$          11,310

$              502

4.4 %

  End of Period

$          11,686

$          12,330

$             (643)

-5.2 %

$          11,686

$          12,330

$            (643)

-5.2 %

B2C ARR (Annual recurring revenue*):

  Beginning of Period

$     5,430,795

$                 –

$    5,430,795

NM

$     5,363,129

$                 –

$    5,363,129

NM

   Incremental ARR

940,586

3,954,090

(3,013,504)

NM

1,008,252

3,954,090

(2,945,838)

NM

  End of Period

$     6,371,381

$     3,954,090

$    2,417,291

61.1 %

$     6,371,381

$     3,954,090

$    2,417,291

61.1 %

Total ARR (Annualized recurring revenue):

$   19,109,637

$   15,568,838

$    3,540,799

22.7 %

$   19,109,637

$   15,568,838

$    3,540,799

22.7 %

Transaction Customers:

Corporate customers

1,051

1,065

(14)

-1.3 %

1,063

1,078

(15)

-1.3 %

Academic customers

333

333

–

0.0 %

325

319

6

1.9 %

Total customers

1,384

1,398

(14)

-1.0 %

1,388

1,397

(9)

-0.6 %

 

Active Customer Accounts, Transactions and Annual Recurring Revenue

The Company defines active customer accounts as 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 customers per month is defined as customers with at least one transaction during the month.

A transaction is an order for a unit of copyrighted content fulfilled or managed in the Platform.

The Company defines annual recurring revenue (“ARR”) as the value of contracted Platform subscription recurring revenue normalized to a one-year period.  For B2C ARR, this includes the annualized value of monthly subscriptions, meaning their monthly value multiplied by twelve.

Use of Non-GAAP Measure – Adjusted EBITDA

Research Solutions’ management evaluates and makes operating decisions using various financial metrics. In addition to the Company’s GAAP results, management also considers the non-GAAP measure of Adjusted EBITDA. Management believes that this non-GAAP measure provides useful information about the Company’s operating results.

The tables below provide a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure. Adjusted EBITDA is defined as net income (loss), plus interest expense, other income (expense) including any change in fair value of contingent earnout liability, foreign currency transaction loss, provision for income taxes, depreciation and amortization, stock-based compensation, and other potential adjustments that may arise. Set forth below is a reconciliation of Adjusted EBITDA to net income (loss):

Quarter Ended December 31,

Six Months Ended December 31,

2024

2023

Change

% Change

2024

2023

Change

% Change

Net Income (loss)

$    (1,980,234)

$        (53,628)

$   (1,926,606)

NM

$   (1,311,230)

$   (1,041,671)

$     (269,559)

NM

 Add (deduct):

–

Other (income) expense

2,057,887

(376,426)

2,434,313

NM

1,989,362

(516,737)

2,506,099

NM

Foreign currency translation loss (gain)

29,554

(13,738)

43,292

NM

(74,686)

(7,118)

(67,568)

949.3 %

Provision for income taxes

15,194

10,057

5,137

51.1 %

61,406

39,459

21,947

55.6 %

Depreciation and amortization

306,233

155,749

150,484

96.6 %

618,328

215,369

402,959

187.1 %

Stock-based compensation

534,322

596,455

(62,133)

-10.4 %

952,311

1,188,269

(235,958)

-19.9 %

 Adjusted EBITDA

$        962,956

$        318,469

$       644,487

202.4 %

$     2,235,491

$      (122,429)

$    2,357,920

1926.0 %

 

About Research Solutions
Research Solutions, Inc. (NASDAQ: RSSS) provides cloud-based technologies to streamline the process of obtaining, managing, and creating intellectual property. Founded in 2006 as Reprints Desk, the Company was a pioneer in developing solutions to serve researchers. Today, more than 70 percent of the top pharmaceutical companies, prestigious universities, and emerging businesses rely on Article Galaxy, the Company’s SaaS research platform, to streamline access to the latest scientific research and data with 24/7 customer support. For more information and details, please visit www.researchsolutions.com 

Important Cautions Regarding Forward-Looking Statements
Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects”, “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words, and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties and assumptions that are difficult to predict, estimate or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on Form 10-Q, or other reports filed with the Securities and Exchange Commission. Examples of forward-looking statements in this release include statements regarding enhanced product offerings, additional customers, and the Company’s prospects for growth. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission. 

Research Solutions, Inc. and Subsidiaries

Consolidated Balance Sheets

December 31, 

2024

June 30, 

(unaudited)

2024

Assets

Current assets:

Cash and cash equivalents

$

7,701,155

$

6,100,031

Accounts receivable, net of allowance of $129,895 and $68,579, respectively

7,116,055

6,879,800

Prepaid expenses and other current assets

742,166

643,553

Prepaid royalties

589,068

1,067,237

Total current assets

16,148,444

14,690,621

Non-current assets:

Property and equipment, net of accumulated depreciation of $932,773 and $922,558, respectively

63,355

88,011

Intangible assets, net of accumulated amortization of $2,129,868 and $1,535,310, respectively

10,230,439

10,764,261

Goodwill

16,345,888

16,315,888

Deposits and other assets

867

981

Total assets

$

42,788,993

$

41,859,762

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable and accrued expenses

$

8,104,118

$

8,843,612

Deferred revenue

8,853,415

9,023,848

Contingent earnout liability, current portion

3,963,956

—

Total current liabilities

20,921,489

17,867,460

Non-current liabilities:

Contingent earnout liability, long-term portion

10,741,044

12,298,114

Total liabilities

31,662,533

30,165,574

Commitments and contingencies

Stockholders’ equity:

Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding

—

—

Common stock; $0.001 par value; 100,000,000 shares authorized; 32,640,407 and 32,295,373 shares
issued and outstanding, respectively

32,640

32,295

Additional paid-in capital

38,836,646

38,089,958

Accumulated deficit

(27,620,476)

(26,309,246)

Accumulated other comprehensive loss

(122,350)

(118,819)

Total stockholders’ equity

11,126,460

11,694,188

Total liabilities and stockholders’ equity

$

42,788,993

$

41,859,762

 

Research Solutions, Inc. and Subsidiaries

Consolidated Statements of Operations and Other Comprehensive Loss

(Unaudited)

Three Months Ended

Six Months Ended

December 31, 

December 31, 

2024

2023

2024

2023

Revenue:

Platforms

$

4,601,257

$

3,125,584

$

8,930,902

$

5,725,776

Transactions

7,312,962

7,188,158

15,027,799

14,648,937

Total revenue

11,914,219

10,313,742

23,958,701

20,374,713

Cost of revenue:

Platforms

619,842

486,185

1,167,009

868,799

Transactions

5,473,284

5,343,755

11,204,723

10,990,546

Total cost of revenue

6,093,126

5,829,940

12,371,732

11,859,345

Gross profit

5,821,093

4,483,802

11,586,969

8,515,368

Operating expenses:

Selling, general and administrative

5,422,013

4,748,050

10,229,103

9,818,948

Depreciation and amortization

306,233

155,749

618,328

215,369

Total operating expenses

5,728,246

4,903,799

10,847,431

10,034,317

Income (loss) from operations

92,847

(419,997)

739,538

(1,518,949)

Other income

348,999

108,194

417,524

248,505

Change in fair value of contingent earnout liability

(2,406,886)

268,232

(2,406,886)

268,232

Loss before provision for income taxes

(1,965,040)

(43,571)

(1,249,824)

(1,002,212)

Provision for income taxes

(15,194)

(10,057)

(61,406)

(39,459)

Net loss

(1,980,234)

(53,628)

(1,311,230)

(1,041,671)

Other comprehensive income (loss):

Foreign currency translation

2,637

6,349

(3,531)

5,403

Comprehensive loss

$

(1,977,597)

$

(47,279)

$

(1,314,761)

$

(1,036,268)

Loss per common share:

Net loss per share, basic and diluted

$

(0.07)

$

–

$

(0.04)

$

(0.04)

Weighted average common shares outstanding, basic and diluted

30,421,808

28,092,945

30,384,339

27,564,404

 

Research Solutions, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

Six Months Ended

December 31, 

2024

2023

Cash flow from operating activities:

Net loss

$

(1,311,230)

$

(1,041,671)

Adjustment to reconcile net loss to net cash provided by (used in) operating activities:

Depreciation and amortization

618,328

215,369

Stock options expense

88,045

61,714

Restricted common stock expense

864,266

1,105,606

Modification cost of accelerated vesting of restricted common stock

—

20,949

Adjustment to contingent earnout liability

2,406,886

(268,232)

Changes in operating assets and liabilities:

Accounts receivable

(266,255)

(681,502)

Prepaid expenses and other current assets

(98,613)

(67,986)

Prepaid royalties

478,169

121,100

Accounts payable and accrued expenses

(737,670)

349,310

Deferred revenue

(170,433)

(241,545)

Net cash provided by (used in) operating activities

1,871,493

(426,888)

Cash flow from investing activities:

Purchase of property and equipment

(5,404)

(55,763)

Payment for acquisition of Resolute, net of cash acquired

—

(2,718,253)

Payment for acquisition of Scite, net of cash acquired

—

(7,305,493)

Net cash used in investing activities

(5,404)

(10,079,509)

Cash flow from financing activities:

Common stock repurchase

(205,278)

(68,748)

Payment of contingent acquisition consideration

(62,560)

(278,195)

Net cash used in financing activities

(267,838)

(346,943)

Effect of exchange rate changes

2,873

5,666

Net increase (decrease) in cash and cash equivalents

1,601,124

(10,847,674)

Cash and cash equivalents, beginning of period

6,100,031

13,545,333

Cash and cash equivalents, end of period

$

7,701,155

$

2,697,659

Supplemental disclosures of cash flow information:

Cash paid for income taxes

$

61,406

$

39,459

Non-cash investing and financing activities:

Contingent consideration accrual on asset acquisition

$

30,198

$

36,364

 

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SOURCE Research Solutions, Inc.

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Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

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The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control

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BEIJING, Oct. 31, 2026 /PRNewswire/ — ModelBest and OpenBMB jointly announced the release and open-source availability of the MiniCPM-OCR series, a family of models for efficient document parsing and parsing-quality assessment. The launch includes two models: MiniCPM-OCR 1.0 (1.3B) and MiniCPM-OCR Jev (2B).

As the first OCR-focused model in the MiniCPM family, MiniCPM-OCR 1.0 brings top-tier parsing accuracy to a compact 1.3-billion-parameter architecture optimized for edge deployment, pushing forward the balance between efficiency and performance for open-source OCR models. Built for real-world conditions, it accurately parses scanned, photographed, curved, tilted and screen-captured documents without cumbersome image pre-correction, lowering the barrier to large-scale document digitization.

The model handles dense bilingual Chinese-English content, complex mathematical formulas, and multi-level or borderless tables, consistently performing at a leading level across a broad range of mainstream industry evaluations. Beyond full-page reconstruction, it supports key information extraction (KIE), pulling specified fields from invoices, IDs and financial statements according to business instructions.

Powered by DSpark decoding acceleration, MiniCPM-OCR 1.0 significantly increases end-to-end throughput while lowering per-page latency. For enterprises processing millions of pages—such as financial contract archives, academic libraries and government records—this means processing far more documents with the same hardware and time budget, at a substantially lower computing cost.

To address the long-standing need for page-by-page manual review, ModelBest and OpenBMB also introduced MiniCPM-OCR Jev, the first OCR result decision model that acts as an “AI quality inspector.” Rather than performing OCR itself, Jev compares the source image with OCR output and rapidly assigns confidence scores to text, LaTeX formulas and tables, detecting missing characters, errors and formatting misalignments. Despite its compact 2B-parameter size, Jev delivers judgment accuracy typically associated with far larger models.

Jev supports cross-model deployment and can be integrated into existing OCR workflows without replacing the underlying OCR engine. It can automatically identify reliable results for direct processing, flag potentially inaccurate outputs for human review and select the best result from multiple OCR systems. This enables enterprises to move from full manual inspection toward risk-based, automated quality control.

The MiniCPM-OCR series is available on GitHub, Hugging Face and ModelScope, and supports vLLM, SGLang, llama.cpp and Ollama, along with SDKs, APIs, Agent Skill plugins and open-source fine-tuning code. Day-0 hardware adaptation covers AMD, Arm, Houmo AI, Intel and NVIDIA. Through the FlagOS software stack, it also has Day-0 support for AI and edge chips from CIX Technology, Huawei Ascend, Hygon, Iluvatar CoreX, Kunlunxin, MetaX, Moore Threads, Sunrise, T-Head, TsingMicro, NVIDIA and Apple Mac (Arm).

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SOURCE ModelBest

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Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

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NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wulcea-elevates-consumer-trust-in-heated-apparel-through-multi-national-safety-certifications-and-rigorous-technical-testing-302925554.html

SOURCE Wulcea

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