- Services Overview
- Products & Releases Supported
Revenue of $35.4 million, up 37% year over year
Deferred revenue of $111.2 million, up 28% year over year
Billings of $41.6 million, up 39% year over year
1,344 signed clients to date, up 31% year over year
LAS VEGAS, April 19, 2016 - Rimini Street, Inc., the leading independent provider of enterprise software support services for SAP SE's (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, today announced preliminary financial results for its fiscal 2016 Q1 ending March 31, 2016.
Strong Momentum in Both Oracle and SAP Support
Rimini Street’s strong and steady growth in the first fiscal quarter of 2016 includes 74 new client transactions worldwide and top line growth across its major Oracle and SAP support product lines. Fiscal 2016 Q1 marks the Company’s 41st consecutive growth quarter since its inception in 2005.
The above information is preliminary and subject to the completion of quarter-end financial processes and review.
Rimini Street 2016 Q1 Highlights:
"Our strong fiscal 2016 Q1 results reflect continued fast-growing global demand for Rimini Street's support services and the continued successful execution of our global operations and expansion plan," said Seth Ravin, Rimini Street CEO. "Oracle and SAP licensees continue making the switch to our support services at a record pace, enjoying premium, ultra-responsive services, and using the significant savings to fund new investments in innovation that drive growth and competitiveness for their organizations."
About Rimini Street, Inc.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for at least 15 years. Over 1,300 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “plan,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2016. All rights reserved.