Core Insights - Waratek has named Rimini Street as its exclusive Pinnacle Partner, recognizing its premier global capability in the third-party support market [1][3] - Rimini Street has been instrumental in shaping innovation at Waratek over the past seven years, leveraging its extensive experience in implementing and supporting Waratek's solutions [3][5] - The partnership allows Rimini Street to provide unique protection for Java SE 5-based applications, which are still in use despite vendor support having ended a decade ago [3] Company Overview - Waratek, based in Dublin, Ireland, specializes in active security platforms that secure business-critical applications by fixing vulnerabilities in real-time [7] - Rimini Street, a Nasdaq-listed company, is a leading provider of end-to-end enterprise software support and innovation solutions, particularly known for its third-party support for Oracle, SAP, and VMware software [8] - Rimini Street has signed thousands of contracts with major organizations, achieving significant operational savings and enabling investments in AI and other innovations [8] Partnership Dynamics - As the Pinnacle Partner, Rimini Street has developed exclusive expertise in creating custom rules for the Waratek engine, unmatched by any other company [2][4] - Rimini Street's team of over 75 security professionals provides continuous support and innovation, ensuring a seamless user experience for clients [5] - Customer feedback plays a crucial role in driving continuous innovation and enhancing the security of enterprise software [6]

Rimini Street (RMNI) Q4 2024 Earnings Call February 28, 2025 03:05 AM ET Company Participants Dean Pohl - VP, IRSeth Ravin - Founder, Chairman, CEO & PresidentMichael Perica - CFOBrian Kinstlinger - MD, Director of Research & Head of Technology Research Conference Call Participants Jared Jungjohann - AnalystJeff Van Rhee - Partner & Senior Analyst - Equity ResearchRichard Baldry - MD & Senior Research Analyst Operator Good afternoon, ladies and gentlemen, and welcome to the Remini Street Q4 twenty twenty fo ...

Rimini Street (RMNI) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.09%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.22, delivering a surprise of 214.29%.Over the last four quarters, the company ha ...

Rimini Street Announces Fiscal Fourth Quarter and Annual 2024 Financial and Operating Results page 1 Select Fourth Quarter 2024 Financial Results Select Full Year 2024 Financial Results • Revenue was $114.2 million for the 2024 fourth quarter, an increase of 1.9% compared to $112.1 million for the same period last year. • U.S. revenue was $53.1 million for the 2024 fourth quarter, a decrease of 6.5% compared to $56.8 million for the same period last year. • International revenue was $61.1 million for the 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2024 ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission File Number 001-37397 Rimini Street, Inc. (Exact name of registrant as specified in its charter) Delaware 36-4880301 (State or other jurisdiction of inc ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $104.7 million, a year-over-year decrease of 2.6% [18] - Annualized recurring revenue was $401.5 million, a year-over-year decrease of 3.6% [18] - Billings for Q3 2024 were $65.2 million, an increase of 7.7% compared to $60.5 million in the prior year [19] - Gross margin was 60.7% of revenue, down from 62.7% in the prior year, but increased 160 basis points sequentially [19] - Net loss attributable to shareholders was negative $43.1 million, or negative $0.47 per diluted share, compared to net income of $0.08 per diluted share in the prior year [23] Business Line Data and Key Metrics Changes - The company achieved 19 new client sales transactions in the quarter with total contract value over one million [12] - Revenue related to Oracle PeopleSoft products accounted for approximately $24.9 million, or 8% of revenue, for the first nine months of 2024 [25] - The company is winding down services for Oracle PeopleSoft products, which is expected to lead to significant revenue reductions over time [25] Market Data and Key Metrics Changes - Clients within the United States represented 49% of total revenue, while international clients represented 51% for Q3 2024 [18] - Billings improvements were led by the North America and Asia Pacific regions [13] Company Strategy and Development Direction - The company has formed a strategic partnership with ServiceNow to provide a unified intelligent platform for enterprise software modernization [9] - The partnership aims to deliver an exclusive enterprise application modernization and AI solution without requiring costly upgrades or migrations [9][10] - The company is focused on optimizing costs and enhancing shareholder value while navigating ongoing litigation with Oracle [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the actions taken to return to growth and profitability, despite challenges from Oracle litigation [17] - The company is continuing to suspend guidance on future financial results until there is more clarity regarding litigation impacts [26] - Management noted that the business is showing signs of stabilization and potential growth, particularly in North America [45] Other Important Information - The company has achieved approximately $14.9 million of net annualized reductions in operating costs as part of a cost optimization plan [20] - The company paid Oracle $58.5 million in compliance with a court order related to ongoing litigation [15][22] Q&A Session Summary Question: Completion of cost-cutting objectives - Management plans to complete the cost-cutting plan by the end of Q4 2024 [28] Question: Clarification on ServiceNow partnership - Rimini Street will handle all work related to the ServiceNow layer, integrating it with existing products [30] Question: Revenue expectations for new offerings - The ramp-up for new offerings is expected to take time, with initial sales discussions already underway [31] Question: Impact of new services on gross margin - New offerings typically have lower gross margins initially, but management is focused on maintaining acceptable margins [35] Question: Cash flow challenges - Cash flow patterns show typical burn in the second half of the year, exacerbated by the recent payment to Oracle [36] Question: Billings growth in Q4 - Management is optimistic about achieving positive billings growth in Q4 based on current pipeline strength [39] Question: Customer retention trends - Management indicated that retention numbers have stabilized, with potential for positive revenue growth when excluding certain one-time events [44] Question: Sales headcount strategy - The sales team has been restructured to focus on new logo acquisition, with a split between new sales and cross-selling [71] Question: Customer reaction to ServiceNow offering - Customer feedback has been positive, with interest in the ability to modernize systems without major upgrades [53]

Rimini Street (RMNI) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 214.29%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.07, delivering a surprise of -30%.Over the last four quarters, the company has ...

Revenue Performance - Revenue for Q3 2024 was $104.7 million, a decrease of 2.6% from $107.5 million in Q3 2023[2] - U.S. revenue decreased by 7.4% to $51.6 million, while international revenue increased by 2.7% to $53.1 million[2] - Subscription revenue accounted for 95.9% of total revenue at $100.4 million, down from 96.9% at $104.1 million in the prior year[2] - Revenue for Q3 2024 was $104.672 million, a decrease of 2.3% from $107.453 million in Q3 2023[13] Client Metrics - Active Clients as of September 30, 2024, were 3,097, a slight decrease of 0.1% from 3,099 clients a year earlier[2] - Active Clients are defined as distinct entities purchasing services, indicating business growth and sales success[18] Financial Losses - Operating loss for Q3 2024 was $49.6 million, compared to an operating income of $11.2 million in Q3 2023[2] - Net loss for Q3 2024 was $43.1 million, compared to net income of $6.8 million in the same period last year[2] - Net loss for Q3 2024 was $43.100 million, compared to a net income of $6.801 million in Q3 2023[13] Revenue Retention and Recurring Revenue - Annualized Recurring Revenue was $401.5 million, a decrease of 3.6% from $416.3 million in Q3 2023[2] - Revenue Retention Rate dropped to 89% from 94% in the previous year[2] - Revenue Retention Rate measures subscription revenue from existing clients over a 12-month period, providing insight into client retention[20] - Annualized Recurring Revenue is calculated by multiplying quarterly subscription revenue by four, indicating potential revenue for the next 12 months[19] Operating Expenses and Profitability - Total operating expenses increased significantly to $113.131 million in Q3 2024, compared to $56.104 million in Q3 2023[13] - Gross profit for Q3 2024 was $63.537 million, down from $67.343 million in Q3 2023, reflecting a gross margin of 60.7%[13] - Non-GAAP operating income for Q3 2024 was $13.402 million, down from $16.497 million in Q3 2023[14] - Adjusted EBITDA for Q3 2024 was $13.677 million, compared to $18.239 million in Q3 2023[14] Cost Management and Reorganization - The company incurred reorganization costs of $1.4 million in Q3 2024 as part of its cost optimization efforts[2] - Reorganization costs primarily consist of severance costs related to the company's restructuring efforts[24] Litigation Costs - The company reported a significant increase in litigation costs, totaling $59.391 million in Q3 2024, compared to $2.127 million in Q3 2023[13] Cash and Liabilities - Cash and cash equivalents increased to $119.494 million as of September 30, 2024, from $115.424 million at the end of 2023[12] - Total current liabilities decreased to $322.468 million from $336.434 million at the end of 2023[12] - Deferred revenue, current and noncurrent, at the end of Q3 2024 was $223.314 million, down from $238.399 million at the end of Q3 2023[14] Non-GAAP Financial Measures - Rimini Street reported key non-GAAP financial measures including non-GAAP operating income, non-GAAP net income, EBITDA, Adjusted EBITDA, and Billings[15] - Non-GAAP Operating Income excludes litigation costs, stock-based compensation, and reorganization costs, reflecting core operational performance[21] - Adjusted EBITDA excludes litigation costs, stock-based compensation, and reorganization costs, providing a clearer view of operational profitability[24] - The company emphasizes the importance of non-GAAP measures for consistent performance evaluation across reporting periods[16] Billings and Cash Flow - Billings represent the change in deferred revenue plus current period revenue, indicating cash flow dynamics[17] Compensation Strategy - The company’s compensation strategy includes stock-based compensation to align employee interests with shareholders[23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-37397 Rimini Street, Inc. (Exact name of registrant as specified in its charter) Delaware 36-4880301 | --- | --- | |---------- ...

Cimmerian/E+ via Getty Images Rimini Street, Inc. (NASDAQ:RMNI) reports recurrent revenue, many clients, and international growth. The company recently announced the reallocation of resources, which could have a beneficial effect on future free cash flow growth. I also appreviate quite a bit that the Board of Directors approved a stock repurchase program, which could accelerate the demand for the stock, and lower the ost of capital. I did identify several risks from the ongoing litigation with Oracle (ORCL) ...