Third Quarter Financial Highlights Include:
Remaining Performance Obligations (RPO) of $611.2 million, up 6.4% from the prior year
Adjusted Calculated Billings of $63.9 million, up 6.7% from the prior year
Active Clients of 3,155, up 1.9% from the prior year
LAS VEGAS Rimini Street, Inc. (the “Company”) (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 third quarter ended September 30, 2025.
Select Third Quarter 2025 Financial Results
- Revenue was $103.4 million for the third quarter of 2025, a decrease of 1.2% compared to $104.7 million for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, the revenue increased by 2.5%.
- U.S. revenue was $46.3 million for the third quarter of 2025, a decrease of 10.3% compared to $51.6 million for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, U.S. revenue decreased by 4.4%.
- International revenue was $57.2 million for the third quarter of 2025, an increase of 7.7% compared to $53.1 million for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, international revenue increased by 8.6%.
- Subscription revenue was $97.8 million, which accounted for 94.5% of total revenue for the third quarter of 2025, compared to subscription revenue of $100.4 million, which accounted for 95.9% of total revenue for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, subscription revenue was $93.4 million, or 94.6% of total revenue, for the third quarter of 2025 compared to $92.5 million, or 96.0% of total revenue, for the same period last year.
- Annualized Recurring Revenue was $391.0 million for the third quarter of 2025, a decrease of 2.6% compared to $401.5 million for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, Annualized Recurring Revenue was $373.7 million for the third quarter of 2025, an increase of 1.0% compared to $370.1 million for the same period last year.
- Active Clients as of September 30, 2025 were 3,155, an increase of 1.9% compared to 3,097 Active Clients as of September 30, 2024.
- Revenue Retention Rate was 89% for each of the trailing twelve months ended September 30, 2025 and September 30, 2024, respectively.
- Calculated Billings was $66.5 million for the third quarter of 2025, an increase of 2.0% compared to $65.2 million for the same period last year.
- Adjusted Calculated Billings, which excludes Calculated Billings related to the wind down of support services for Oracle’s PeopleSoft software products, was $63.9 million for the third quarter of 2025, an increase of 6.7% compared to $59.9 million for the same period last year.
- Remaining Performance Obligations (RPO) was a record $611.2 million as of September 30, 2025, an increase of 6.4% compared to $574.6 million as of September 30, 2024; excluding the wind down of support services for Oracle’s PeopleSoft software products, RPO was $599.0 million as of September 30, 2025, an increase of 9.3% compared to $547.8 million as of September 30, 2024.
- Gross margin was 59.9% for the third quarter of 2025, compared to 60.7% for the same period last year.
- Operating income was $4.4 million for the third quarter of 2025, compared to an operating loss of $49.6 million for the same period last year.
- Non-GAAP Operating Income was $8.5 million for the third quarter of 2025, compared to $13.4 million for the same period last year.
- Net income was $2.8 million for the third quarter of 2025, compared to a net loss of $43.1 million for the same period last year.
- Non-GAAP Net income was $6.9 million for the third quarter of 2025, compared to a non-GAAP net income of $19.9 million for the same period last year.
- Adjusted EBITDA for the third quarter of 2025 was $10.1 million, compared to $13.7 million for the same period last year.
- Both the basic and diluted earnings per share attributable to common stockholders were $0.03 for the third quarter of 2025, compared to a basic and diluted loss per share of $(0.47) for the same period last year.
- Cash and cash equivalents were $108.7 million at September 30, 2025, compared to $119.5 million at September 30, 2024.
- Repurchased 0.9 million shares of Common Stock for approximately $3.8 million at an average price of $4.23 per share during the third quarter of 2025.
- Repaid the remaining outstanding $10 million balance on the Company’s revolving line of credit, leaving $70.3 million outstanding under the Company’s term loan as of September 30, 2025.
Select Third Quarter 2025 Operating Results
- Announced representative new clients that switched to, or existing clients that expanded their agreements with, Rimini Street, including the following:
- KBS, Korea’s public broadcasting network, selected Rimini Support™ for SAP ECC 6.0, a strategic move that has helped it to reinvest cost savings to accelerate its AI vision.
- Idemitsu Kosan, a leading Japanese petroleum manufacturer and retailer, is partnering with Rimini Street to support and enable its long-term IT roadmap and strategy built on top of its existing SAP ECC 6.0 system.
- Suntory, a global manufacturer of iconic beverages and food products, and a current support client, selected Rimini Consult™ to develop and launch a new customer engagement platform built on top of its Oracle systems.
- Added to the U.S. General Services Administration (GSA) Multiple Award Schedule as an approved supplier of support and security services for Oracle, SAP and VMware software products. United States federal, state, local and tribal governments can now procure Rimini Street’s services directly from the GSA Schedule.
- Announced a strategic partnership with American Digital, a leading IT solutions provider specializing in custom data center solutions based on HPE infrastructure, to provide a full-stack solution with Rimini Street providing support and managed services. The partnership includes working together to help clients modernize to AI solutions and implement workflow automation without any required ERP software vendor upgrades or migrations.
- Announced a new client milestone, surpassing 100 VMware support contracts signed to date. Clients around the world are benefitting from the unique offer of premium support, exclusive hypervisor security and extended life for perpetual licenses powered by Rimini Support™ for VMware.
- Closed over 6,500 support cases and delivered over 4,500 tax, legal and regulatory updates to clients across 28 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).
Business Outlook
The Company plans to provide forward-looking guidance at its Analyst and Investor Day on December 3, 2025, where the executive team plans to outline the Company’s market opportunity, solutions, go-to-market strategy and financial goals. The event will be open for attendance by the public via registration and a live webcast link. A replay of the webcast will be available for one year following the event on the Company’s website.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the third quarter of 2025 results and potentially discuss select fourth quarter of 2025 performance-to-date metrics at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on October 30, 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 on the Company’s website.
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.”
