Good afternoon, everyone, and thank you for participating in today's conference call to discuss Research Solutions' Financial and Operating Results for its Fiscal 2019 First Quarter ended September 30, 2018. Earlier today, the company issued a press release discussing these results, and a copy of the release is available for viewing and can be downloaded from the Investor Relations section of the company's website. Joining us today are Research Solutions President and CEO, Peter Derycz; and the company's CFO, Alan Urban. Following their remarks, we will open the call for your questions. Then before we conclude today's call, I will provide the necessary cautions regarding any forward-looking statements made by management. I will also provide information regarding the company's use of non-GAAP financial information. Finally, I would like to remind everyone that this call will be recorded and made available for replay via a link in the Investors section of the company's website. I would now like to turn the call over to Peter Derycz, Research Solutions' President and CEO.

Thank you, Operator, and good afternoon everyone. I'll open the call with a few brief comments about our first quarter, then pass the call to Alan to speak about our results in greater detail. Finally, I will return to address other initiatives and our outlook. Fiscal 2019 began on a strong note with continued momentum in our Platform business, which helps drive consolidated gross margin higher on a sequential basis for the third straight quarter. The value of the Platform is also growing as reflected by our annual recurring revenue that has reached nearly $2.5 million. Unique enhancements, like near daily innovation produced by our Gadget Factory, is also helping drive value and strong customer retention. In October, we launched version 2.2 of our Platform, which features new self-registration capabilities that allows for more efficient lead generation and frictionless sign-ups. We believe this upgrade will increase the pace of deployment and provide important analytics that will drive more efficient sales and marketing campaigns. In fact, we have already received a few hundred self-sign-ups since the launch despite no marketing campaigns, including various enterprise inquiries. I will have more to say about the features of the launch and expand upon other initiatives, after Alan walks through our first quarter financial results in more detail. Alan?

Thank you, Peter, and good afternoon everyone. Jumping right into our fiscal first quarter results, our Platform subscription revenue increased 52% to $589,000 in Q1 which was driven by a 48% increase in total Platform deployments to 239. This translates into 12 net incremental deployments in Q1. The quarter ended with $2.4 million in annual recurring revenue from Platforms up 9% sequentially and 54% year-over-year. Please see today's press release for how we define and use annual recurring revenue and other non-GAAP terms. We had a slight decline in the rate of sequential Platform deployments this quarter due to our newly hired sales and marketing heads rebuilding their respective departments. We believe that the rebuild is absolutely required to meaningfully scale our platform sales in the future. It is also important to note that our annual recurring revenue growth was still up on a year-over-year basis due to a large amount of upsell to existing Platform customers during the quarter. Our Transaction revenue was up slightly to $6.4 million compared to the same year-ago quarter. This was driven by 6% growth in total customer count to 1,084. In addition, the number of corporate customers was up 5% to 845 and academic customers were up 11% to 239. However transaction count declined slightly from 205,000 to 202,000. Together these businesses delivered consolidated revenue growth of 3% to $7 million versus $6.7 million in the same year-ago quarter. Moving on to gross margins, our Platform business saw gross margins increase by 320 basis points to 81.6% compared to the same year-ago quarter. The increase was driven by continued proportional decreases in third-party data costs. Our target gross margin in Platforms remains in the high 70% to low 80% range. Gross margin in our Transactions business was up 40 basis points to 23.1%…

Thanks, Alan. I'd like to spend more time our growing Platform business. First, I would like to expand upon the dynamics we experienced this quarter. As Alan mentioned, our new Platform additions were a bit below prior quarters due to the transformation of how we sell this product. We reconstructed our sales and marketing organizations in July bringing a new heads of those departments to not only drive our growth but to do so in a way that optimizes efficiency and investment returns. As a result, our first quarter reflected the transition away from certain strategies that weren't optimal and the testing of other strategies that are in their infancy stage, such as those evolved around self-registration learning. In fact in early October we launched Platforms version 2.2. As we have mentioned previously version 2.2 features new self-registration capabilities that allow for more efficient lead-generation and frictionless sign-ups which we believe will drive more deployments. In addition to our new framework enhancements we continue to launch new platform gadgets and daily gadget enhancements. To further accelerate this we've added the capability within the Platform for users to be able to submit new gadget ideas to our Gadget Factory that can create and implement suggested gadgets to all users on the platform, ultimately improving the user experience and building a community within the platform. The new release also included the introduction of our Reference Manager gadget. Reference and citation management is an activity that most of the scientific community engages in and we're excited to bring this groundbreaking gadget to life after months of R&D. This is a powerful tool that provides key standalone capabilities in the arena of literature, data simulation, and management. Along with full interplay with our gadget ecosystem, as well as integration with standard writing tools such…

There are no questions at this time. At this time, this concludes our question-and-answer session.