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Rimini Street宣布2019年第三财季财务业绩

2019/11/7

季度营收6,900万美元,同比增10.1%
季度毛利润率为62.4%较去年同期的64.5%有所下滑
2019930日活跃用户达到了2,032名,同比增17.3%

拉斯维加斯--(BUSINESS WIRE)-- (美国商业资讯)--全球企业软件产品和服务提供商、甲骨文和SAP软件产品领先的第三方支持服务提供商以及Salesforce合作伙伴Rimini Street, Inc. (Nasdaq: RMNI)今日宣布了截至2019年9月30日的第三季度业绩。

Rimini Street联合创始人、首席执行官、董事长Seth A. Ravin表示:"我们在第三季度不断看到,过去18个月中在全球销售能力、生产力和基础设施领域的投资带来了业绩的改善。我们还在继续拓展我们的全球功能以及新产品和服务,并在迪拜开设了办事处以服务海湾地区的客户,并宣布了在全球推出针对SAP的Application Management Services。此外,今天我们宣布在全球推出针对Oracle Database and Applications的Application Management Services。 "

Rimini Street首席财务官Tom Sabol表示:"第三季度营收、销售和营销以及一般性行政开支都在我们的季度指引范围之内,而第三季度和年初至今的毛利润率均超出了我们此前提供的指引范围。我们依然致力于公司的长期目标,包括营收增长、强劲的自由现金流,以及实现可持续的GAAP盈利能力。"

2019年第三季度业绩亮点

  • 2019年第三财季营收为6,900万美元,较去年同期的6,260万美元增长10.1%。
  • 2019年第三季度年化订购营收约为2.74亿美元,较去年同期的2.5亿美元增长10%。
  • 截至2019年9月30日,活跃用户达到了2,032名,较去年同期的1,732名增长了17.3%。
  • 截至2019年9月30日12个月的营收留存率为91.5%,而截至2018年9月30日12个月的留存率为92.0%。
  • 2019年第三季度毛利率为62.4%,去年同期为64.5%。
  • 2019年和2018年第三季度经营收入均为250万美元。
  • 2019年第三季度非GAAP经营收入为750万美元,去年同期为1,070万美元。
  • 2019年第三季度净收入为170万美元,去年同期为净亏损4,840万美元
  • 2019年和2018年第三季度非GAAP净收入均为670万美元。
  • 2019年第三季度调整后息税折旧摊销前利润为760万美元,去年同期为1,080万美元。
  • 2019年第三季度可归于普通股东的基本摊薄后每股收益为每股净亏损0.07美元,去年同期为净亏损0.85美元。

本新闻稿中的非GAAP财务指标对照最直接可对比的GAAP财务指标的调节表已被列于本新闻稿末尾的财务表格中。标题为"非GAAP财务指标和某些关键指标"的段落介绍了这些指标、公司认为这些指标有何意义,以及它们的计算方法。

2019年第三季度公司亮点

  • 宣布全球汽车制造商现代-起亚汽车选择Rimini Street为其全球数据库资产组合提供支持和维护服务。
  • 宣布在全球范围内推出针对SAP的Application Management Services服务,为客户运行其SAP提供统包支持解决方案,该方案整合了针对SAP的AMS和支持服务。
  • 扩大了在中东的投资,包括在迪拜设立新的分支机构和办事处,并雇佣了当地员工支持海湾地区不断增长的需求。
  • 完成了7,500多个支持案例,整体客户满意度平均得分为4.8(5.0分为卓越)。
  • 针对Peoplesoft、JD Edwards、SAP和Oracle E-Business Suite 产品向全球客户提供了1.5万多项税收、法律和监管方面的更新
  • 宣布荣获多个奖项,包括:
    ◦  全球SAP支持团队获年度客户服务团队(Customer Service Team of the Year) Stevie ABA金奖和 Stevie IBA银奖;
    ◦  年度公司 |计算机服务Stevie ABA金奖和Stevie IBA金奖;
    ◦  在客户销售和服务大奖赛 (Customer Sales and Service Awards) 中荣获四项大奖,包括年度里程碑金奖和年度客户服务杰出表现奖。
  • 参加了13场首席信息官、首席财务官和IT采购领导者活动,包括纽约CFO.org,IDC在墨西哥巴亚尔塔港举行的CIO Empowerment会议,Gartner在达拉斯举行的ITAM Summit,以及东京的Japan Information Systems User Association。

2019年营收指引

公司维持全年2.75亿美元的指引中值,并将2019年第四季度营收指引范围缩窄到2.745亿美元至2.755亿美元之间,同时2019年第四季度营收指引区间设定为7,130万美元至7,230万美元。

首席财务官变更

Rimini Street今日宣布,Thomas Sabol辞去首席财务官一职,将于2019年11月15日生效。他将奔赴其居住地所在州寻求其他的机遇。此前担任公司副总裁和公司主计长的Stanley Mbugua被任命为集团副总裁兼首席会计官,2019年11月5日生效。公司正积极招聘新首席财务官。Ravin先生表示:"我要感谢Tom过去三年中在执掌公司财务方面所做的贡献,其中包括成功完成多项重大的再融资交易,以及帮助公司在2017年上市。我们希望他在新的岗位上一切顺利。"

网播和电话会议信息

Rimini Street将于东部时间2019年11月7日下午5点/太平洋时间下午2点举行电话会议和网播,讨论2019年第三季度业绩。可登录Rimini Street投资者关系网站https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events观看会议现场网播。美国和加拿大的参与者可通过拨打(855) 213-3942并输入8398042来收听电话会议。会后将提供网播的重播,为期至少90天。

公司对非GAAP财务指标的使用

本新闻稿含有某些"非GAAP财务指标"。非GAAP财务指标并非是基于全面的会计准则或原则。这一非GAAP补充信息并非旨在取代美国GAAP要求披露所采用的业绩指标。非GAAP财务指标应被视为GAAP财务指标的补充,而不是替代或优于该指标。本新闻稿的财务表格中涵盖GAAP与非GAAP业绩的对照信息。标题为"非GAAP财务指标和某些关键指标"的段落对非GAAP财务指标进行了介绍和解释。

关于Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI)是全球领先的企业软件产品和服务提供商、甲骨文和SAP软件产品第三方支持服务的主要提供商以及Salesforce合作伙伴。公司致力于提供优质、超快响应和一体化应用管理和支持服务,能够让企业软件授权用户节省大量的成本,解放资源用于创新,并实现更好的业绩。各行各业2,000多家全球性组织、财富500强公司、中型企业、公共事业部门和其他机构都选择Rimini Street作为其信赖的应用企业软件产品和服务提供商。垂询详情,请访问http://www.riministreet.com/,通过@riministreet在Twitter上关注我们,并通过Facebook和LinkedIn关注我们。(IR-RMNI)

前瞻性陈述

本新闻稿中的某些声明并非是历史事实,而是《1995年私人证券诉讼改革法》安全港条款所定义的前瞻性陈述。前瞻性陈述通常含有以下词语:"可能"、"应"、"会"、"计划"、"打算"、"预期"、"认为"、"估计"、"预测"、"潜在"、"似乎"、"寻求"、"继续"、"未来"、"将"、"预计"、"展望"或其他类似词语、短语或表述。这些前瞻性陈述包括但不限于我们对未来事件、未来机会、全球扩张及其他增长动议和我们关于此等动议投资的预期的陈述。这些陈述基于不同的假设以及管理层当前的预期,并非是对实际业绩的预测,也不是历史事实。这些陈述取决于与Rimini Street业务有关的多个风险和不确定性因素,而且实际结果可能会发生重大变化。这些风险和不确定性因素包括但不限于,Rimini Street运营业务环境的变化,包括通胀和利率以及影响Rimini Street所在行业的一般性金融、经济、监管和政治条件;待决诉讼(包括有关永久禁制令的待决上诉)或政府调查或任何新诉讼的不利进展;以有利条款筹集额外股本或进行债务融资的需要和能力,以及我们能否从运营中产生现金流,以帮助为我们增长计划中增加的投资提供资金;我们的现金和现金等价物是否足以满足我们的流动性要求;我们未发行的13.00% A轮优先股的条款和影响;税收、政府法律和法规的变化;竞争产品和定价活动;无法实现盈利性增长;客户采用最近推出产品和服务的情况,包括 Application Management Services (AMS)、Rimini Street Advanced Database Security以及针对Salesforce Sales Cloud和Service Cloud 产品的服务以及我们预计将于近期推出的其他产品和服务;Rimini Street管理团队损失一名或多名成员;RMNI股本证券长期价值存在不确定性;以及Rimini Street于2019年11月7日呈报的Form 10-Q季报所列标题"风险因素"项下所讨论的内容,Rimini Street未来的Form 10-K年报、Form 10-Q季报和Form 8-K现状报告不时对此等内容的更新以及公司向美国证券交易委员会提交的其他文件。此外,前瞻性陈述仅代表本新闻稿发布之日Rimini Street的预期、计划或对未来事件的预测和观点。Rimini Street预计后续事件和发展将导致Rimini Street的评估发生变化。然而,尽管Rimini Street可能会在未来某个时间点选择更新这些前瞻性陈述,但Rimini Street特别声明,除法律规定之外,公司没有这方面义务。这些前瞻性陈述不应被看作代表Rimini Street在本新闻稿发布之日后任何日期的观点。

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© 2019 Rimini Street, Inc.版权所有。"Rimini Street"是Rimini Street, Inc.在美国和其他国家的注册商标,Rimini Street、Rimini Street标志和两者之间的任意组合以及其他带有TM标记的标志均为Rimini Street, Inc.的商标。所有其他商标仍是其各自所有者的财产。除非另行说明,Rimini Street与此类商标所有者或本新闻稿中所提到的其他公司没有任何从属、代言或结盟关系。

Q3 Earning1 2019

Q3 Earning2 2019

About Non-GAAP Financial Measures and Certain Key Metrics

To provide investors and others with additional information regarding Rimini Street's results, we have disclosed the following non-GAAP financial measures and certain key metrics. We have described below Active Clients, Annualized Subscription Revenue and Revenue Retention Rate, each of which is a key operational metric for our business. In addition, we have disclosed the following non-GAAP financial measures: non-GAAP operating income, non-GAAP net income (loss), EBITDA, and adjusted EBITDA. Rimini Street has provided in the tables above a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. Due to a valuation allowance for our deferred tax assets, there were no tax effects associated with any of our non-GAAP adjustments. These non-GAAP financial measures are also described below.

The primary purpose of using non-GAAP measures is to provide supplemental information that management believes may prove useful to investors and to enable investors to evaluate our results in the same way management does. We also present the non-GAAP financial measures because we believe they assist investors in comparing our performance across reporting periods on a consistent basis, as well as comparing our results against the results of other companies, by excluding items that we do not believe are indicative of our core operating performance. Specifically, management uses these non-GAAP measures as measures of operating performance; to prepare our annual operating budget; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of our results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communications with our board of directors concerning our financial performance. Investors should be aware however, that not all companies define these non-GAAP measures consistently.

Active Client is a distinct entity that purchases our services to support a specific product, including a company, an educational or government institution, or a business unit of a company. For example, we count as two separate active clients when support for two different products is being provided to the same entity. We believe that our ability to expand our active clients is an indicator of the growth of our business, the success of our sales and marketing activities, and the value that our services bring to our clients.

Annualized Subscription Revenue is the amount of subscription revenue recognized during a fiscal quarter and multiplied by four. This gives us an indication of the revenue that can be earned in the following 12-month period from our existing client base assuming no cancellations or price changes occur during that period. Subscription revenue excludes any non-recurring revenue, which has been insignificant to date.

Revenue Retention Rate is the actual subscription revenue (dollar-based) recognized over a 12-month period from customers that were clients on the day prior to the start of such 12-month period, divided by our Annualized Subscription Revenue as of the day prior to the start of the 12-month period.

Non-GAAP Operating Income is operating income adjusted to exclude: litigation costs and related recoveries, net, and stock-based compensation expense. The exclusions are discussed in further detail below.

Non-GAAP Net Income (Loss) is net income (loss) adjusted to exclude: litigation costs and related recoveries, net, post-judgment interest in litigation awards, write-off of deferred debt financing costs, extinguishment charges upon payoff of credit facility, stock-based compensation expense, and gain from change in fair value of embedded derivatives. These exclusions are discussed in further detail below.

Specifically, management is excluding the following items from its non-GAAP financial measures, as applicable, for the periods presented:

Litigation Costs and Related Recoveries, Net: Litigation costs and the associated insurance and appeal recoveries relate to outside costs of litigation activities. These costs and recoveries reflect the ongoing litigation we are involved with, and do not relate to the day-to-day operations or our core business of serving our clients.

Stock-Based Compensation Expense: Our compensation strategy includes the use of stock-based compensation to attract and retain employees. This strategy is principally aimed at aligning the employee interests with those of our stockholders and to achieve long-term employee retention, rather than to motivate or reward operational performance for any particular period. As a result, stock-based compensation expense varies for reasons that are generally unrelated to operational decisions and performance in any particular period. 

Post-judgment interest in litigation awards: Post-judgment interest resulted from our appeals of ongoing litigation and does not relate to the day-to-day operations or our core business of serving our clients. 

Write-off of Deferred Debt Financing Costs: The write-off of deferred financing costs related to certain costs that were expensed in 2018 due to an unsuccessful debt financing.

Extinguishment charges upon payoff of Credit Facility: These costs included interest expense and other debt financing expenses, including the make-whole applicable premium and the write-off of debt discount and issuance costs that resulted from the payoff of our former credit facility on July 19, 2018.  Since these amounts related to our debt financing structure, we have excluded them since they do not relate to the day-to-day operations or our core business of serving our clients. Extinguishment Charges Upon Payoff of Credit Facility: These costs included interest expense and other debt financing expenses, including the make-whole applicable premium and the write-off of debt discount and issuance costs that resulted from the payoff of our former credit facility on July 19, 2018. Since these amounts related to our debt financing structure, we have excluded them since they do not relate to the day-to-day operations or our core business of serving our clients.

Gain from Change in Fair Value of Embedded Derivatives: Our former credit facility included features that were determined to be embedded derivatives requiring bifurcation and accounting as separate financial instruments. We have determined to exclude the gains and losses on embedded derivatives related to the change in fair value of these instruments given the financial nature of this fair value requirement. We were not able to manage these amounts as part of our business operations, nor were the costs core to servicing our clients, so we have excluded them.

Other Debt Financing Expenses: Other debt financing expenses included non-cash write-offs (including write-offs due to payoff), accretion, amortization of debt discounts and issuance costs, and collateral monitoring and other fees payable in cash related to our former credit facility. Since these amounts related to our debt financing structure, we have excluded them since they do not relate to the day-to-day operations or our core business of serving our clients.

EBITDA is net income (loss) adjusted to exclude: interest expense, income tax expense, and depreciation and amortization expense.

Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and related recoveries, net, write-off of deferred debt financing costs, post-judgment interest in litigation awards, write-off of deferred debt financing costs, stock-based compensation expense, gain from change in fair value of embedded derivatives, and other debt financing expenses, as discussed above.

Investor Relations Contact:
Dean Pohl
Rimini Street, Inc.
+1 203 347-4446
dpohl@riministreet.com

Media Relations Contact:
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com