Press Releases

Rimini Street Announces Preliminary Fiscal Third Quarter 2015 Financial Results

10/13/2015

Revenue of $30.8 million, up 38% year over year
Deferred revenue of $89.1 million, up 53% year over year
Billings of $28.6 million, up 48% year over year
1,164 total signed clients to date, up 31% year over year

LAS VEGAS, October 13, 2015 - 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 its preliminary financial results for the fiscal third quarter ending September 30, 2015.

Strong and Steady Growth

Rimini Street’s third quarter results continued the Company’s upward trend with record revenue, deferred revenue and bookings backlog, and marked the Company’s 39th consecutive quarter of growth. The Company completed 84 new client transactions worldwide.

  • Revenue for the third fiscal quarter of 2015 increased 38% year over year to $30.8 million.
  • Deferred revenue as of September 30, 2015 increased 53% year over year to $89.1 million.
  • Billings for the third fiscal quarter of 2015 increased 48% year over year to $28.6 million.
  • Bookings backlog for the third fiscal quarter of 2015 increased 19% year over year to $1.7 billion.
  • Total signed clients to date as of September 30, 2015, increased 31% year over year to 1,164.
  • Hired 73 new employees worldwide, expanding the global workforce 12.9% to nearly 640. 

The above information is preliminary and subject to the completion of quarter-end financial processes and review.

Notable Achievements in Q3 2015:

In addition to its outstanding financial performance, Rimini Street also noted key achievements from the quarter, including:

“We continued to execute on our worldwide growth and expansion plan in FYQ3 2015, including making key global investments in top leadership talent, expansion of our service capabilities and staff, and launching new service offerings such as support for Oracle Agile PLM software,” said Seth Ravin, Rimini Street CEO. “We are also proud to lead the industry in our breadth of value-driven support services and our commitment to delivering an excellent client service experience for Oracle and SAP licensees worldwide.”

To learn more, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

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 1,150 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.

Forward-Looking Statements

This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “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.

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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 © 2015. All rights reserved.

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