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RMNI

Rimini Street, Inc.

RMNI

Rimini Street, Inc. • NASDAQ
$3.81 ▼ -0.52% (-0.02)
Market Cap $349.58 M
52w High $5.38
52w Low $1.95
Dividend Yield 0%
P/E 8.11
Volume 175.70K
Outstanding Shares 91.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $103.428M ▼ $57.553M ▲ $2.766M ▼ 2.674% ▼ $0.03 ▼ $7.242M ▼
Q2-2025 $104.114M ▼ $21.655M ▼ $30.258M ▲ 29.062% ▲ $0.33 ▲ $44.519M ▲
Q1-2025 $104.204M ▼ $54.173M ▼ $3.35M ▼ 3.215% ▼ $0.037 ▼ $11.405M ▼
Q4-2024 $114.213M ▲ $57.834M ▼ $6.659M ▲ 5.83% ▲ $0.073 ▲ $15.901M ▲
Q3-2024 $104.672M $113.131M $-43.1M -41.176% $-0.47 $-49.152M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $108.721M ▲ $352.86M ▼ $380.143M ▼ $-27.283M ▲
Q2-2025 $101.284M ▼ $397.497M ▲ $426.532M ▲ $-29.035M ▲
Q1-2025 $122.574M ▲ $343.03M ▼ $406.726M ▼ $-63.696M ▲
Q4-2024 $88.792M ▼ $369.063M ▲ $438.508M ▲ $-69.445M ▲
Q3-2024 $119.494M $343.842M $420.616M $-76.774M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.766M ▼ $24.722M ▲ $-1.204M ▲ $-14.753M ▼ $7.439M ▲ $23.518M ▲
Q2-2025 $30.258M ▲ $-17.771M ▼ $-1.766M ▼ $-6.031M ▼ $-21.29M ▼ $-19.537M ▼
Q1-2025 $3.35M ▼ $33.708M ▲ $-895K ▼ $-1.026M ▼ $34.555M ▲ $32.813M ▲
Q4-2024 $6.659M ▲ $-37.68M ▼ $-680K ▼ $13.97M ▲ $-30.701M ▼ $-38.36M ▼
Q3-2024 $-43.1M $-18.514M $-670K $-1.028M $-14.703M $-19.184M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $100.00M ▲$100.00M ▲$100.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years but has recently flattened out, suggesting the core business is mature and now more about retention and incremental wins than rapid expansion. Gross profitability has stayed relatively healthy, which points to a solid basic business model and pricing. The concern is below the gross line: operating profit has slipped from modest profits to a small loss, and net income has swung from profit to a clear loss in the most recent year. Overall, the company looks capable of generating profit, but earnings are volatile and currently under pressure, likely from higher operating costs, investments in growth, and possibly legal or sales expenses. The income statement tells a story of a stable top line but squeezed margins and inconsistent bottom-line performance.

Balance Sheet

Balance Sheet The balance sheet shows a business with a relatively stable asset base and a meaningful cash cushion, but also some structural weaknesses. Debt is moderate rather than extreme, yet the company has carried negative shareholders’ equity for years, which means liabilities exceed assets on paper. This usually reflects accumulated past losses or prior financial structuring rather than an immediate liquidity crisis, but it reduces financial flexibility and can be a red flag for more conservative stakeholders. Overall, the company appears liquid enough in the near term but is operating with a thin capital cushion and limited balance-sheet safety net, making sustained profitability and cash discipline especially important.

Cash Flow

Cash Flow Historically, the company has been able to convert its business into positive operating cash flow, with relatively low ongoing investment needs and therefore helpful free cash flow. Recently, however, cash generation has weakened and turned negative, mirroring the slip into accounting losses. Because capital spending is minimal, the deterioration in free cash flow is largely about core operations and working capital, not big one-time investments. That shift makes the recent year a clear warning signal: the model can generate cash, but it is not doing so currently, and management will need to either restore profitability, improve collections and cost control, or both to avoid gradually drawing down the cash balance or relying more on external funding.

Competitive Edge

Competitive Edge Rimini Street sits in a specialized niche: third‑party support and services for large enterprise software such as Oracle and SAP. Its main edge is economic—offering substantial cost savings versus the original vendors—combined with high-touch, expert-driven service. The dedicated senior engineer model, global 24/7 coverage, and strong reputation for customer satisfaction support a real competitive moat in this niche. Legal clarity around third‑party support has also helped legitimize the model, though restrictions still exist. At the same time, large software vendors are pushing customers toward their own cloud and subscription offerings, which can erode the pool of traditional maintenance contracts over time. Rimini’s response has been to broaden into managed services, security, interoperability, and consulting, and to partner with platforms like ServiceNow and Workday. Taken together, the company has a differentiated position and loyal customers, but it is operating in a market that is gradually shifting under its feet, requiring constant adaptation.

Innovation and R&D

Innovation and R&D Innovation at Rimini Street is more about service design and process than about building entirely new software products. The company has developed proprietary support methodologies, AI‑assisted routing and triage, and a high-expertise staffing model that together allow it to deliver deeper, more personalized support than many large vendors. It has also built out a suite of branded services across support, managed operations, security, interoperability, monitoring, and advisory work, which widens its role inside client IT environments. Looking forward, the push into "Agentic AI ERP" and support for more modern cloud platforms is an ambitious step that, if executed well, could move the company from being seen mainly as a cost saver to being seen as an innovation partner. The risk is that these initiatives require sustained investment and credible delivery at a time when profitability is under strain, so execution quality and pacing of spend will be key.

Summary

Rimini Street combines a distinctive, value-driven service model with a mixed financial picture. On the positive side, revenue has grown over time and now appears stable, gross margins are solid, and the company occupies a clear niche where it can save large customers meaningful money and provide high-quality, personalized support. Its expanded portfolio and partnerships show a serious effort to evolve with the market and tap into newer, cloud-oriented and AI-driven opportunities. On the risk side, profits have recently turned into losses, cash generation has weakened, and the balance sheet carries negative equity, leaving less room for prolonged missteps. The strategic question is whether the company can successfully leverage its strong customer relationships, cost-savings value proposition, and AI-driven service innovations to reaccelerate growth and restore consistent profitability, while managing balance-sheet constraints and the gradual industry shift toward vendor-controlled cloud solutions.

NEWS

November 18, 2025 · 9:00 AM UTC

Silicon Labs Partners with Rimini Street to Build a Future-Ready SAP Strategy

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November 5, 2025 · 9:00 AM UTC

Rimini Street Announces Upcoming 2025 Investor Events Schedule

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November 4, 2025 · 3:43 PM UTC

New Global Survey Reveals Oracle Database Customers are Evolving their Database Strategies Citing High Costs, Support Challenges and Need for Advanced AI/ML Capabilities

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October 30, 2025 · 4:01 PM UTC

Rimini Street Announces Fiscal Third Quarter 2025 Financial and Operating Results

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October 29, 2025 · 3:00 PM UTC

Rimini Street to Host Investor Day 2025 on December 3, 2025

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