Rimini Street, Inc., (the “Company”) (Nasdaq: RMNI), a global provider of end-to-end enterprise software support and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal second quarter ended June 30, 2025.
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Select Second Quarter 2025 Financial Results
- Revenue was $104.1 million for the 2025 second quarter, an increase of 1.0% compared to $103.1 million for the same period last year.
- U.S. revenue was $49.2 million for the 2025 second quarter, a decrease of 4.5% compared to $51.5 million for the same period last year.
- International revenue was $55.0 million for the 2025 second quarter, an increase of 6.4% compared to $51.7 million for the same period last year.
- Subscription revenue was $98.5 million, which accounted for 94.6% of total revenue for the 2025 second quarter, compared to subscription revenue of $99.9 million, which accounted for 96.8% of total revenue for the same period last year.
- Annualized Recurring Revenue was $394.1 million for the 2025 second quarter, a decrease of 1.3% compared to $399.4 million for the same period last year.
- Active Clients as of June 30, 2025 were 3,060, an increase of 1.8% compared to 3,007 Active Clients as of June 30, 2024.
- Revenue Retention Rate was 90% for the trailing twelve months ended June 30, 2025 and 88% for the comparable period ended June 30, 2024.
- Calculated Billings was $110.6 million for the 2025 second quarter, a decrease of 0.9% compared to $111.6 million for the same period last year.
- Adjusted Calculated Billings, which excludes PeopleSoft calculated billings, was $107.9 million for the 2025 second quarter, an increase of 3.9% compared to $103.8 million for the same period last year.
- Gross margin was 60.4% for the 2025 second quarter compared to 59.1% for the same period last year.
- Operating income was $41.2 million for the 2025 second quarter compared to an operating loss of $0.8 million for the same period last year.
- Non-GAAP Operating Income was $10.9 million for the 2025 second quarter compared to $6.4 million for the same period last year.
- Net income was $30.3 million for the 2025 second quarter compared to a net loss of $1.1 million for the same period last year.
- Non-GAAP Net loss was $0.1 million for the 2025 second quarter compared to a non-GAAP net income of $6.1 million for the same period last year.
- Adjusted EBITDA for the 2025 second quarter was $13.0 million compared to $8.8 million for the same period last year.
- Basic and diluted earnings per share attributable to common stockholders was $0.33 and $0.32, respectively, for the 2025 second quarter compared to a basic and diluted loss per share of $(0.01) for the same period last year.
- Cash and cash equivalents were $101.3 million at June 30, 2025 compared to $134.2 million at June 30, 2024.
- On July 9, 2025, related to a settlement agreement with Oracle Corporation, we received approximately $37.9 million of the approximately $58.7 million in attorneys’ fees and costs we paid to Oracle in late 2024.
- On July 15, 2025, we repaid the remaining $10 million outstanding of our revolving line of credit, reducing our indebtedness under our credit facility to $71.3 million.
Select Second Quarter 2025 Operating Results
- Announced representative new clients that switched to, or existing clients that expanded their agreements with, Rimini Street, including the following:
- OSG Corporation, a global leader in the precision manufacturing of cutting tools, rolling dies and machine parts, extends Support for Oracle EBS systems through 2029, helping them achieve an 8% reduction in their IT operating costs, freeing up resources to fund its factory automation initiatives.
- University of Melbourne’s Mobile Learning Unit selected Rimini Manage and Rimini Consult for Salesforce as its strategy to bring stability and enhancement to its eLearning platform.
- Announced a partnership with Merlin Cyber, a leading federal government licensing and public sector technology enablement company, working with Rimini Street to expand our capability to help more federal, state and local government agencies cut their operating costs, get better service and extend the life of their current enterprise software products.
- Announced a partnership with Dayforce to provide Rimini Manage for Dayforce’s leading HR, time management and payroll solution across 160 countries.
- Announced the extension of all SAP ECC 6.0 and S/4/HANA releases through 2040, which will help clients keep their systems running smoothly, stay in full tax and legal compliance and re-allocate IT budget savings to self-fund new technologies like enterprise AI, workflow and task automation.
- Appointed Vijay Kumar as EVP and Chief Operating Officer, whose experience includes building and scaling go-to-market, post-sales, services and product organizations, with expertise that spans enterprise software, SaaS, product management, professional services and global support across B2B, B2C and AI platforms, and who recently served as SVP for Genesys Cloud, with prior leadership roles with HP Software, Kony Inc. and Vignette.
- Appointed Joe Locandro as EVP and Chief Information Officer to lead global IT operations and enterprise systems strategy, and to drive technology innovation initiatives, whose experience includes his prior tenure as CIO of Fletcher Building and executive roles with BP, Cathay Pacific, CLP, Emirates, Energy Australia and Village Roadshow.
- Closed over 6,800 support cases and delivered over 4,000 tax, legal and regulatory updates to clients across 21 countries, while achieving an average client satisfaction rating on the Company’s support delivery and onboarding services of 4.9 out of 5.0 (where 5.0 is rated excellent).
Subsequent Events
As disclosed in our Current Report on Form 8-K filed on July 9, 2025 and further discussed in our Quarterly Report on Form 10-Q filed today, July 31, 2025, with the U.S. Securities and Exchange Commission, on July 7, 2025, the Company and its President, Chief Executive Officer and Chairman of the Board, Seth A. Ravin, entered into a confidential settlement agreement (the “Settlement Agreement”) with Oracle Corporation and certain of its affiliates (collectively, “Oracle”) (and all signatories, collectively, the “Parties”). If all Parties complete their agreed upon responsibilities, the Settlement Agreement will allow for the final resolution and ultimate dismissal of U.S. Federal Court Case Number 2:14-cv-01699-MMD-DJA.
Business Outlook
We plan to reinitiate guidance at our Analyst Day, which we expect to announce for the fourth quarter with more details coming soon.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the second quarter 2025 results and select third quarter 2025 performance-to-date metrics at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on July 31, 2025. 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: www.itweb.co.za
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