Rimini Street Announces Fiscal Second Quarter 2015 Financial Results
Net revenues of $27.8 million, up 36% year over year
Deferred revenues of $91.4 million, up 49% year over year
Billings of $32.4 million, up 55% year over year
Closed single largest Oracle support contract to date at $6.5 million first year fees
LAS VEGAS, August 28, 2015 – Rimini Street, Inc., the leading independent provider of enterprise software support for SAP AG’s (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Hyperion and Oracle Retail software, today announced its financial results for the second quarter ending June 30, 2015. The Company released its Preliminary Fiscal Second Quarter 2015 Financial Results on July 8, 2015.
Rimini Street’s second quarter results demonstrated continued strong growth with record net revenues, deferred revenue and bookings backlog. In addition, billings were up significantly year over year, and the Company closed business across all Oracle and SAP product lines.
- Net revenues for the second fiscal quarter of 2015 increased 36% year over year to $27.8 million.
- Deferred revenues as of June 30, 2015 increased 49% year over year to $91.4 million.
- Billings for the second fiscal quarter of 2015 increased 55% year over year to $32.4 million.
- Total bookings backlog as of June 30, 2015 increased 33% year over year to $1.6 billion.
- Total signed clients as of June 30, 2015 increased 28% year over year to 1,080.
See the Preliminary Fiscal Second Quarter 2015 Financial Results press release from July 8 for additional information about notable Q2 2015 achievements and commentary about the quarter from Rimini Street’s CEO, Seth Ravin.
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. Nearly 1,100 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 www.riministreet.com.
Forward-Looking StatementsThis 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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