Rimini Street Announces Fiscal First Quarter 2024 Financial and Operating Results page 2 | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|----------------|-------|--------------------| | ASSETS \nCurrent assets: | | March 31, 2024 | | December 31, 2023 | | Cash and cash equivalents | $ | 129,005 | $ | 115,424 | | Restricted cash | | | 428 | 428 | | Accou ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Rimini Street Announces Fiscal First Quarter 2024 Financial and Operating Results LAS VEGAS, May 2, 2024 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced results for the fiscal first quarter ended March 31, 2024. Select First Quarter 2024 Financial Highlights Subsequent Events On Apr ...

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 March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1700 S. Pavilion Center Drive, Suite 330, Las Vegas, NV 89 ...

Rimini Street, Inc. (NASDAQ:RMNI) Q4 2023 Earnings Conference Call February 28, 2024 5:00 PM ET Company Participants Dean Pohl - Vice President, Treasurer & Investor Relations Seth Ravin - Chief Executive Officer & President Michael Perica - Chief Financial Officer Conference Call Participants Brian Kinstlinger - Alliance Global Partners Daniel Hibshman - Craig-Hallum Operator Good day, and thank you for standing by. Welcome to Rimini Street Fourth Quarter 2023 Earnings Call. At this time, all participants ...

Rimini Street LEGAL DISCLAIMER Forward-Looking Statements Company Overview Rimini Street (Nasdaq: RMNI) is a global provider of end-to-end enterprise software support, products and services for Oracle and SAP software and a Salesforce and AWS partner. The Company offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize clients' enterprise application, database, and technology software platforms. Property of Rimini Street ©2024 ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Rimini Street Announces Fiscal Fourth Quarter and Annual 2023 Financial and Operating Results LAS VEGAS, February 28, 2024 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced results for the 2023 fourth quarter and fiscal year ended December 31, 2023. Rimini Street Announces Fiscal Four ...

Financial Performance - Rimini Street generated revenue of $431.5 million for the year ended December 31, 2023, representing a year-over-year increase of 5%[35]. - The company recorded net income of $26.1 million for the year ended December 31, 2023, compared to a net loss of $2.5 million in 2022[35]. - Revenue increased from $409.7 million for the year ended December 31, 2022, to $431.5 million for the year ended December 31, 2023, representing a 5% year-over-year growth[181]. - International revenue increased from $194.3 million in 2022 to $211.5 million in 2023, representing a 9% growth[195]. - The company recorded a net income of $26.1 million for the year ended December 31, 2023, with an accumulated deficit of $202.2 million[171]. Client Base and Market Presence - As of December 31, 2023, Rimini Street supported over 3,030 active clients globally, including 73 Fortune 500 companies[34]. - Approximately 51% of Rimini Street's revenue in 2023 was generated in the United States, while 49% came from international business[35]. - Approximately 49% of the company's revenue for the year ended December 31, 2023, was generated outside of the United States, with Japan representing 10% of total revenue[86]. - As of December 31, 2023, the company supported over 3,030 active clients globally, including 73 Fortune 500 companies and 20 Fortune Global 100 companies[81]. - The company has developed a comprehensive portfolio of over 20 solutions across six product suites, covering more than 40,000 SKUs from major vendors including Oracle, SAP, Salesforce, Microsoft, and IBM[87]. Service Offerings and Innovations - Rimini Street's Solutions Portfolio includes managed services for Oracle, SAP, IBM, Salesforce, and open-source database software[24]. - The company offers Rimini ONE™, a comprehensive outsourcing solution designed to extend the operating lifespan of clients' existing technologies by a minimum of 15 years[24]. - Rimini Support™ provides 24x7x365 mission-critical support with a guaranteed 10-minute response time for service requests[27]. - The company offers its Rimini Support solutions at approximately 50% of the annual fees charged by software vendors for base support, providing substantial cost savings for clients[56]. - AI applications developed by the company have accelerated case resolution times by an average of 23% and reduced urgent cases by approximately 29%[63]. Operational Capabilities - The company employs over 2,120 professionals across various global locations, enhancing its service delivery capabilities[34]. - The company employs over 1,280 support engineers with an average of over 20 years of industry experience, providing 24/7 support across more than 130 countries[77]. - The company has a rigorous software development lifecycle compliant with ISO 9001:2015 standards, ensuring timely and accurate delivery of updates[66]. - The company has achieved ISO 9001 and ISO 27001 certifications, ensuring high-quality service and information security management[101][103]. Strategic Goals and Market Positioning - The company aims to address the complexity of hybrid IT environments by consolidating services and support with a limited number of service providers[39]. - The company plans to expand its support services to additional software vendors and products to address the growing needs of its clients[55]. - The company intends to launch new enterprise software support solutions to address various business needs, enhancing its service offerings[91]. - The company plans to expand its global business by increasing its direct sales force and utilizing strategic marketing partnerships[86]. - The company’s marketing programs target senior executives, emphasizing the unique benefits of its offerings and positioning it as a thought leader in the enterprise application support market[74]. Competition and Market Challenges - The company faces strong competition from major players such as Accenture, IBM, and Oracle in its Rimini Manage, Rimini Protect, and Rimini Connect solutions[106][107]. - The company faces significant competition from enterprise software vendors like Oracle and SAP, which may have more resources and broader customer relationships[169]. - The company has faced ongoing litigation with Oracle since 2010, resulting in a total judgment paid to Oracle of approximately $89.9 million after appeals[128]. - The ongoing litigation with Oracle poses a risk to the company's revenue, as Oracle products are a significant portion of its income[123]. - The ongoing litigation with Oracle has resulted in challenges in acquiring new clients and renewing existing contracts, potentially impacting future revenue growth[159]. Risks and Legal Issues - The company’s financial health and operational results are subject to various risks, including ongoing litigation and market competition, which could adversely affect its performance[120][123]. - The company is self-insured for costs related to current or future intellectual property litigation, which may affect financial stability[161]. - The company continues to face risks of additional litigation from Oracle, which could distract management and reduce client interest[164]. - The outcome of ongoing litigation may affect the company's stock price and ability to raise additional financing[160]. - The company has been subject to a permanent injunction since November 2018, which restricts certain support processes found to infringe Oracle copyrights[129]. Cybersecurity and Compliance - Cybersecurity threats are increasing, and any compromise of data security measures could lead to client dissatisfaction and reputational harm[1]. - The company employs various measures to mitigate cybersecurity risks, but remains vulnerable to advanced persistent threats that could materially affect business operations[205]. - Compliance with privacy and security laws, such as the General Data Protection Regulation, could result in fines of up to 4% of global annual revenue or €20 million for serious infringements[208]. - A successful phishing incident in 2021 resulted in unauthorized sharing of client addresses and billing data, although it did not significantly impact business relationships[204]. Human Resources and Management - The senior management team has over 150 years of combined experience in the enterprise software and services industry, enhancing the company's market leadership[83]. - The company has experienced challenges in attracting and retaining qualified personnel, particularly in competitive markets like the San Francisco Bay Area[179]. - The company’s client success managers play a crucial role in client retention and satisfaction, overseeing onboarding and account management processes[68]. - The company has received multiple employee satisfaction awards, including the "2023 Top Workplaces USA" award, reflecting its strong client-centric culture[98]. Future Outlook and Growth Strategy - The company intends to continue investing significantly in expanding sales and marketing operations, enhancing service offerings, and entering new markets[172]. - The company must effectively price its products and services to attract new clients while retaining existing ones without compromising profitability[181]. - The company’s growth strategy includes expanding sales to clients outside the United States, exposing it to global operational risks[1]. - The company may need to incur additional debt or raise capital if operating cash flows are insufficient to fund growth[183]. - The company recognizes revenue from subscriptions over the contract term, which may not immediately reflect sales fluctuations in financial results[1].

Rimini Street, Inc. (NASDAQ:RMNI) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Dean Pohl - Vice President, Investor Relations Seth Ravin - CEO and President Michael Perica - EVP & Chief Financial Officer Conference Call Participants Derrick Wood - Cowen Jeff Van Rhee - Craig-Hallum Brian Kinstlinger - Alliance AGP Operator Good day and thank you for standing by and welcome to the Rimini Street Third Quarter 2023 Earnings Call. At this time, all participants are in a list ...

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, 2023 ☐ 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 jurisdict ...

Financial Data and Key Metrics Changes - Billings for the second quarter were $104.4 million, an increase of 2.8% compared to $101.6 million in the prior year [1] - Revenue for the second quarter reached a record $106.4 million, a year-over-year increase of 5.2%, negatively impacted by currency movements [52][53] - Gross margin was 63% of revenue for the second quarter, slightly down from 63.1% in the prior year [1] - Net income attributable to shareholders was $4.3 million or $0.05 per diluted share, compared to $110,000 or $0.00 per diluted share for the prior year [56] - Adjusted EBITDA was $15.8 million for the second quarter, representing 14.8% of revenue, compared to 10.9% in the prior year [56] Business Line Data and Key Metrics Changes - Sales and marketing expenses as a percentage of revenue decreased to 35% from 35.8% in the prior year [2] - General and administrative expenses as a percentage of revenue, excluding litigation costs, was 17.7%, down from 18.6% in the prior year [9] - Non-GAAP operating margin improved to 14% of revenue for the second quarter, compared to 11.8% in the prior year [10] Market Data and Key Metrics Changes - Clients within the United States represented 50.7% of total revenue, while international clients contributed 49.3% [53] - Deferred revenue as of June 30, 2023, was approximately $285 million, down from $300 million in the prior year [11] - Backlog increased to $565 million as of June 30, 2023, compared to $551 million in the prior year [11] Company Strategy and Development Direction - The company is evolving from a single service provider to a global provider of end-to-end enterprise software support products and services [23] - The focus is on improving sales execution across an expanded portfolio of solutions and enhancing lead and opportunity development [25][27] - The company plans to expand its salesforce from 65 to potentially 90 sellers by the end of the year, targeting a different profile of sales representatives [60][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for their services, emphasizing the need for organizations to consolidate IT service providers for better outcomes [55] - The company suspended full-year 2023 revenue and adjusted EBITDA guidance due to uncertainties surrounding ongoing litigation with Oracle [58][60] - Management noted that while there are challenges in certain regions, particularly EMEA and ANZ, North America is showing strong performance [8][40] Other Important Information - The company has been in litigation with Oracle for over 13 years, with ongoing proceedings affecting its operations [28][29] - The company reported a net cash position of $64.7 million at the end of the quarter [52] - The company has filed an appeal regarding the recent court rulings and is awaiting further clarity from the court [12][31] Q&A Session Summary Question: Have you evaluated any expenses necessary to comply with a more manual process for PeopleSoft if the ruling is upheld? - Management is still compiling data and has filed an emergency motion to stay the injunction due to significant problems with compliance [12] Question: Are prospective clients asking about the court ruling? - Management indicated that while there have been inquiries, the majority of business outside the injunction's impact is continuing normally [60][61] Question: Can you provide clarity on the types of customers and verticals for the big deals? - Management noted a healthy mix of deal sizes, with significant contributions from North America and Asia, while facing challenges in EMEA and ANZ [15][40]