Rimini Street Announces Third Quarter 2014 Financial Results
Net Revenues of $22.4 Million, Up 42% Year over Year
Deferred Revenues of $58.1 Million, Up 25% Year over Year
Nearly 900 Total Signed Clients to Date, Including Nearly 100 Fortune 500 and Fortune Global 100 Clients
LAS VEGAS, December 2, 2014 - 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, Oracle Middleware, Hyperion and Oracle Retail software, today announced financial results for the third quarter ending September 30, 2014. The Company had released Preliminary Third Quarter 2014 Financial Results on October 15, 2014.
Rimini Street's third quarter results included record highs in net revenues and third quarter deferred revenues.
- Net revenues for the third quarter of 2014 increased 42% year over year to $22.4 million
- Deferred revenues as of September 30, 2014 increased 25% year over year to $58.1 million
- Total signed support clients to date increased 28% year over year to 890
See the Preliminary Third Quarter 2014 Financial Results press release from October 15 for additional information about notable Q3 2014 achievements and commentary about the quarter from CEO Seth A. Ravin.
About Rimini Street, Inc.
Rimini Street is the leading independent provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs over a decade, including saving 50 percent on their annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 15 years after switching to Rimini Street. Hundreds of clients, including global, Fortune 500, midmarket, and public sector organizations from across a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the USA 888-870-9692 or internationally +1 702-839-9671.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “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.
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