Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal first quarter ended March 31, 2026.
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“Our first quarter results reflect continued growth and accelerating momentum in our core Rimini Support™ business as organizations turn to the proven Rimini Smart Path™ to execute their global ERP and operational transaction processes faster, better and cheaper with more agility and speed to value – all within existing budgets,” said Seth Ravin, president and CEO, Rimini Street. “We help organizations avoid unnecessary, costly and risky ERP and other enterprise software upgrades, migrations and replatformings that often deliver low ROI and little competitive advantage. Instead, organizations can invest in the modernization of their existing systems by leveraging next generation Rimini Agentic AI ERP solutions that can be quickly and economically deployed over their current ERP and other enterprise software to deliver real competitive advantage.”
“We delivered strong first quarter 2026 results that built on second half 2025 momentum, reflecting continued, growing market demand for our differentiated, proven support and innovation solutions,” said Michael Perica, CFO, Rimini Street. “We continued to make additional strategic investments in new AI and innovation offerings to drive growth and further streamlined global operations to provide leverage with scale. Looking ahead, we remain focused on profitable growth, disciplined cost management and a strong balance sheet and cash position. Capital allocation actions in the quarter included a $10 million debt prepayment that reduced outstanding debt to $58.4 million and increased net cash to $73.8 million as of March 31, 2026.”
Select First Quarter 2026 Financial Results
- Revenue was $105.5 million for the first quarter of 2026, an increase of 1.2% compared to $104.2 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, revenue increased by 5.2%.
- U.S. revenue was $46.9 million for the first quarter of 2026, a decrease of 6.4% compared to $50.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, U.S. revenue decreased by 0.3%.
- International revenue was $58.6 million for the first quarter of 2026, an increase of 8.3% compared to $54.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, international revenue increased by 9.9%.
- Subscription revenue was $100.2 million, which accounted for 95.0% of total revenue for the first quarter of 2026, compared to subscription revenue of $99.0 million, which accounted for 95.0% of total revenue for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, subscription revenue was $97.0 million, or 94.9% of total revenue, for the first quarter of 2026 compared to $92.4 million, or 95.0% of total revenue, for the same period last year.
- Annualized Recurring Revenue was $400.8 million for the first quarter of 2026, an increase of 1.2% compared to $396.2 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, Adjusted Annualized Recurring Revenue was $388.0 million for the first quarter of 2026, an increase of 5.0% compared to $369.6 million for the same period last year.
- Active Clients as of March 31, 2026 were 3,130, an increase of 1.2% compared to 3,092 Active Clients as of March 31, 2025.
- Revenue Retention Rate was 88% and 88% for the trailing 12 months ended March 31, 2026 and 2025, respectively.
- Calculated Billings was $95.3 million for the first quarter of 2026, an increase of 19.9% compared to $79.4 million for the same period last year.
- Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $92.2 million for the first quarter of 2026, an increase of 22.9% compared to $75.0 million for the same period last year.
- Remaining Performance Obligations (RPO) was $643.6 million as of March 31, 2026, an increase of 16.4% compared to $553.1 million as of March 31, 2025; excluding the support services for Oracle’s PeopleSoft software products, Adjusted RPO was $633.2 million as of March 31, 2026, an increase of 18.2% compared to $535.8 million as of March 31, 2025.
- Gross margin was 59.0% for the first quarter of 2026 compared to 61.0% for the same period last year.
- Operating income was $4.8 million for the first quarter of 2026 compared to $9.4 million for the same period last year.
- Non-GAAP Operating Income was $7.9 million for the first quarter of 2026 compared to $14.5 million for the same period last year.
- Net income was $1.4 million for the first quarter of 2026 compared to $3.4 million for the same period last year.
- Non-GAAP Net Income was $4.0 million for the first quarter of 2026 compared to $9.5 million for the same period last year.
- Adjusted EBITDA for the first quarter of 2026 was $8.9 million compared to $15.7 million for the same period last year.
- Both the basic and diluted earnings per share attributable to common stockholders were $0.01 for the first quarter of 2026, compared to a basic and diluted earnings per share of $0.04 for the same period last year.
- Cash and cash equivalents were $132.2 million at March 31, 2026 compared to $122.6 million at March 31, 2025.
- Voluntary debt prepayment of $10.0 million during the first quarter, reducing the term loan outstanding to $58.4 million.
Select First Quarter 2026 Operating Results
- Announced new and existing clients that expanded their agreements with Rimini Street, including the following:
- LF, a leading South Korean lifestyle company, selected Rimini Support™ for SAP ECC 6.0 and Oracle Database to reduce maintenance costs, improve support quality and stability, and reinvest savings in AI-driven automation and digital transformation.
- Cubic Corporation, a U.S. based global innovation technology partner for the defense and transportation industries, partnered with Rimini Street to support its strategy to modernize while maintaining SAP ECC as a stable core.
- KleanNara, a leading South Korean manufacturer of paper and hygiene products, selected Rimini Support™ for its SAP ECC 6.0 and Oracle Database systems, freeing up funds and team focus for AI-driven innovation and growth.
- Flexitech, a French manufacturer for the global automobile industry, selected Rimini Support™ for SAP to strengthen security, accelerate compliance readiness and free budget for R&D and modernization initiatives.
- Lwart Environmental Solutions, a world leading Brazilian re-refinery and industrial sustainability organization, expanded its long-time partnership with Rimini Street by consolidating support for VMware and SAP support to regain control of its licensing and roadmap decisions, eliminating vendor-driven timelines and cost escalation.
- Lotte Rental, South Korea’s top car rental company, selected Rimini Support™ for its SAP and Oracle systems, using the resulting savings to invest in AI, mobility services and cloud capabilities.
- Resolved more than 6,800 support cases and delivered over 11,000 tax, legal, and regulatory updates across 23 countries, achieving an average client satisfaction score of 4.9 out of 5.0 (where 5.0 is rated excellent).
- Received multiple industry Stevie® Awards for Best Use of AI in Customer Service, Front-Line Customer Service Team of the Year in the Technology Industry and Best Customer Satisfaction Strategy.
Business Outlook
The Company is providing second quarter 2026 revenue guidance to be in the range of $106 million to $108 million and reiterating the full year 2026 guidance provided at our Investor Day in December 2025 of revenue growth in the 4% to 6% range and Adjusted EBITDA margins in the 12.5% to 15.5% range (combined to achieve “Rule of 20”).
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter of 2026 results and offer commentary on full year 2026 at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on April 30, 2026. A live webcast of the event will be available on Rimini Street’s Investor Relations site at Rimini Street IR events link and directly via the webcast link. Dial-in participants can access the conference call by dialing 1-800-836-8184. A replay of the webcast will be available for one year following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP.
Reconciliations of the non-GAAP financial measures included in this press release and described below to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures, why we believe they are meaningful and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
* Article first published on: itweb.africa
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