Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
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 recoveries, net, and stock-based compensation expense. The exclusions are discussed in further detail below.
Non-GAAP Net Income (Loss) is net income adjusted to exclude: litigation costs and recoveries, net, post-judgment interest on litigation appeal awards, stock-based compensation expense, 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 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 on Litigation Appeal Award: 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.
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 adjusted to exclude: interest expense, income tax expense, and depreciation and amortization expense.
Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and recoveries, net, post-judgment interest on litigation appeal award, stock-based compensation expense, gain from change in fair value of embedded derivatives, and other debt financing expenses, as discussed above.
Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
بلغت العائدات الفصلية 66.3 مليون دولار أمريكي، بزيادة قدرها 11 في المائة بالمقارنة مع الفترة ذاتها من العام الماضي
بلغ الهامش الإجمالي الفصلي 64 في المائة، بزيادة عن نسبة 61 في المائة المسجلة في الفترة ذاتها من العام الماضي
وصل عدد العملاء النشطين في 31 مارس 2019 إلى 1,852، بزيادة قدرها 17 في المائة بالمقارنة مع الفترة ذاتها من العام الماضي
لاس فيغاس- (لاس فيغاس)- أعلنت اليوم شركة “ريميني ستريت” (المدرجة في بورصة ناسداك تحت الرمز: Nasdaq: RMNI)، وهي المزود العالمي لمنتجات وخدمات البرمجيات للشركات، ومزود الدعم الرائد من الطرف الثالث لمنتجات برمجيات “أوراكل” و”إس إيه بيه”، عن النتائج المالية للربع الأول للسنة المالية الحالية المنتهي في 31 مارس 2019.
وقال سيث إيه ريفن، المؤسس المشارك والرئيس التنفيذي لـ “ريميني ستريت”، في هذا الصدد: “نجحنا خلال الربع لأول في تحقيق تقدم ملموس من خلال زيادة المبيعات، وتحسين نموذج تقديم الخدمات العالمي وإطلاق وبيع منصة ‘سيلزفورس دوت كوم’ وغيرها من خدمات الدعم التي من شأنها أن تعزز إجمالي السوق المستهدف لدينا. وبالإضافة إلى ذلك، ربحنا في شهر مارس دعوانا القضائية أمام شركة ‘أوراكل’ بعد اتخاذ المحكمة العُليا في الولايات المتحدة قراراً بالإجماع بهذا الشأن. وصدر القرار بإلزام ‘أوراكل’ بتسديد ما يُقارب من 12.8 مليون دولار أمريكي بالإضافة إلى فوائدها وغيرها من التكاليف إلى ‘ريميني ستريت’، وهي مبالغ قامت ‘أوراكل’ بدفعها في شهر أبريل”.
من جانبه، قال توم سابول، الرئيس التنفيذي للشؤون المالية لشركة “ريميني ستريت”: “تجاوزت العائدات في الربع الأول نطاق توجيهاتنا وتمكّنا من تحقيق هامش إجمالي أعلى مما كان متوقع عند معدل 64 في المائة. واستطعنا إدارة المبيعات والتسويق، فضلاً عن الإنفاق العام والإداري ضمن نطاق التوجيهات، واستكملنا جولة إضافية من الفئة ‘إيه’ للتمويل بالأسهم الممتازة لتمويل إطلاق منتج وخدمة جديدين ومواصلة تعزيز ميزانيتنا العمومية. كما سنبقى ملتزمين بالأهداف طويلة الأمد الرامية إلى تحسين التدفق النقدي الحر وتحقيق الربحية وفقاً للمبادئ المحاسبية المقبولة عموماً”.
أبرز المؤشرات المالية للربع الأول من عام 2019
- بلغت العائدات خلال هذا الربع 66.3 مليون دولار أمريكي، بزيادة وصلت إلى 11 في المائة بالمقارنة مع 59.8 مليون دولار أمريكي خلال الفترة ذاتها من العام الماضي.
- بلغت عائدات الاشتراكات السنوية مبلغاً قدره 265 مليون دولار أمريكي للربع الأول من عام 2019، بزيادة بلغت 11 في المائة بالمقارنة مع مبلغ 239 مليون دولار أمريكي للفترة ذاتها من العام الماضي.
- وصل عدد العملاء النشطين حتى تاريخ الـ 31 من مارس 2019 إلى نحو 1,852 عميل، بزيادة بلغت 17 في المائة بالمقارنة مع 1,581 عميل نشط بتاريخ 31 مارس لعام 2018.
- بلغ معدل استبقاء العائدات 92.0 في المائة للأشهر الـ 12 المتعاقبة المنتهية بتاريخ الـ 31 من مارس من عام 2019، مقابل 93,0 في المائة مقارنة مع الفترة عينها من الهام الماضي والمنتهية بتاريخ الـ 31 من مارس 2018.
- بلغ الهامش الإجمالي نسبة 64.0 في المائة عن الربع الأول لعام 2019 بالمقارنة مع 60.0 في المائة عن الفترة ذاتها من العام الماضي.
- بلغ الدخل التشغيلي خلال هذا الربع مبلغاً قدره 12.7 مليون دولار أمريكي مقارنةً مع 25.2 مليون دولار أمريكي في الفترة عينها من العام الماضي.
- بلغ الدخل التشغيلي غير المتوافق مع المبادئ المحاسبية المقبولة عموماً مبلغاً قدره 7.8 مليون دولار أمريكي عن الربع الأول لعام 2019 بالمقارنة مع 6.1 مليون دولار أمريكي عن الفترة ذاتها من العام الماضي.
- بلغ الدخل الصافي مبلغاً قدره 11.8 مليون دولار أمريكي عن الربع الأول لعام 2019 بالمقارنة مع 3.5 مليون دولار أمريكي عن الفترة ذاتها من العام الماضي.
- بلغ الدخل الصافي غير المتوافق مع المبادئ المحاسبية المقبولة عموماً مبلغاً قدره 6.7 مليون دولار أمريكي عن هذا الربع بالمقارنة مع خسارة صافية غير متوافقة مع المبادئ المحاسبية العمومية بلغت 16.3 مليون دولار أمريكي عن الفترة ذاتها من العام الماضي.
- بلغت الأرباح الأساسية للسهم الواحد العائدة لحملة الأسهم العادية 0.07 دولار أمريكي للسهم الواحد للربع الأول من عام 2019 بالمقارنة مع 0.06 دولار أمريكي للسهم الواحد في الفترة ذاتها من العام الماضي. فيما بلغت الأرباح المخففة للسهم الواحد العائدة لحملة الأسهم العادية 0.07 دولار أمريكي للسهم الواحد للربع الأول من عام 2019 مقارنة بـ 0.05 دولار أمريكي للسهم الواحد عن الفترة ذاتها من العام الماضي.
- بلغت الأرباح الأساسية للسهم الواحد العائدة لحملة الأسهم العادية 0.07 دولار أمريكي للسهم الواحد للربع الأول من عام 2019 بالمقارنة مع 0.06 دولار أمريكي للسهم الواحد في الفترة ذاتها من العام الماضي. فيما بلغت الأرباح المخففة للسهم الواحد العائدة لحملة الأسهم العادية 0.07 دولار أمريكي للسهم الواحد للربع الأول من عام 2019 مقارنة بـ 0.05 دولار أمريكي للسهم الواحد عن الفترة ذاتها من العام الماضي.
وتتضمن التسويات المتعلقة بالتدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً الواردة في هذا البيان الصحفي، تدابير مالية متوافقة مع المعايير المحاسبية المقبولة عموماً يمكن مقارنتها مباشرة في الجداول المالية الواردة في نهاية هذا البيان الصحفي. كما يرد شرح لهذه التدابير وكيفية حسابها تحت عنوان “معلومات حول التدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً وبعض المقاييس الرئيسية”.
أبرز المعالم المتعلقة بالشركة في الربع الأول من عام 2019
- الإعلان عن اختيار شركة “إي بي إس سي أو إندستريز” لـ ريميني ستريت لخدمات إدارة التطبيقات في منتجات سيلز فورس لتحقيق أقصى قدر من القيمة والعوائد على استثماراتها في “سيلز فورس”.
- الإعلان عن اتخاذ المحكمة العُليا لقرار بالإجماع لصالح الشركة، مُلزمة شركة “أوراكل” بتسديد ما يقرب من 12.8 مليون دولار أمريكي على شكل نفقات غير خاضعة للضريبة إلى جانب الفوائد وغيرها من النفقات إلى شركة “ريميني ستريت”. وقامت شركة “أوراكل” بتسديد المبلغ في شهر أبريل.
- الإعلان عن زخم قوي في العلاقة مع العملاء الحكوميين في منطقة أستراليا ونيوزيلندا، مع تحول أكثر من 10 وكالات حكومية أسترالية لاستخدام خدمات الدعم من “ريميني ستريت”.
- فوز الشركة بتسع جوائز، بما فيها جائزة “ستيفي” الذهبية في مجال الابتكار في خدمة العملاء، وجائزة “جولد وان بلانيت” لأفضل فريق خدمة عملاء في العام.
- استكمال رقم قياسي جديد من حالات الدعم، والتي قاربت 8 آلاف حالة، مع بلوغ معدل رضا العملاء عن الدعم الذي تقدمه الشركة لـ 4,8 من أصل 5,0 (حيث تُعتبر 5,0 درجة الامتياز).
- تزويد العملاء حول العالم بأكثر من 20 ألف تحديث ضريبي وقانوني وتنظيمي وذلك لمنتجات كلّ من “بيبل سوفت” و”جيه دي إدواردز” و”إس إيه بيه” و”أوراكل إي-بيزنيس سويتس”.
- سجّلت الشركة حضورها في 12 فعالية بارزة حول العالم للرؤساء التنفيذيين لشؤون المعلومات وتكنولوجيا المعلومات والمشتريات، بما في ذلك معرض تكنولوجيا المعلومات والاتصالات الحكومية في لندن، بريطانيا؛ ومؤتمر الاتحاد الوطني لتجارة التجزئة “إن آر إف” في نيويورك؛ وقمة “جارتنر إي إيه إيه” في طوكيو، اليابان.
توجيه الإيرادات لعام 2019
تعمل الشركة حالياً على تقديم التوجيهات الخاصة بإيرادات الربع الثاني من عام 2019 بحيث من المتوقع أن تتراوح هذه الإيرادات بين 66,5 مليون دولار أمريكي و67,5 مليون دولار أمريكي. كما تُعيد الشركة تأكيدها على بلوغ العائدات لمُجمل عام 2019 لمبلغٍ يتراوح بين 265 مليون دولار أمريكي و280 مليون دولار أمريكي.
معلومات حول البث عبر الإنترنت والاجتماع الهاتفي
ستقوم “ريميني ستريت” باستضافة مؤتمر هاتفيٍ وبث عبر الإنترنت لمناقشة نتائج الربع الأول من عام 2019 في تمام الساعة الخامسة مساءً بتوقيت الساحل الشرقي / والساعة الثانية ظُهراً بتوقيت منطقة المحيط الهادئ بتاريخ التاسع من مايو لعام 2019. سيتوفر البث المباشر للفعالية على موقع علاقات المستثمرين الخاص بشركة “ريميني ستريت” عبر الرابط التالي: https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. بإمكان المشاركين المتصلين الوصول إلى المؤتمر عبر الاتصال بالرقم 8552133942 في الولايات المتحدة وكندا ومن ثم إدخال الرمز 1939675. ستتوفر إعادة عرض البث لمدة تسعين يوماً على الأقل بعد انتهاء الفعالية.
استخدام الشركة للتدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً
يتضمن هذا البيان الصحفي بعض “التدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً”. لا تستند التدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً إلى مجموعة شاملة من القواعد أو المبادئ المحاسبية. وتعتبر المعلومات غير المتوافقة مع المعايير المحاسبية المقبولة عموماً معلومات مكمّلة، وليس المقصود منها أن تمثل قياساً للأداء بما يتوافق مع الإفصاحات المطلوبة من قبل المبادئ المحاسبية المقبولة عموماً في الولايات المتحدة (“جي إيه إيه بيه”). وينبغي النظر في التدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً بالإضافة إلى، وليس كبديل أو وكمعيار متفوق على، التدابير المالية المحددة بما يتوافق مع للمبادئ المحاسبية المقبولة عموماً. وترد التسويات الخاصة بالنتائج المتوافقة مع المعايير المحاسبية المقبولة عموماً وغير المتوافقة مع المعايير المحاسبية المقبولة عموماً في الجداول المالية الواردة في هذا البيان الصحفي. ويتم تقديم وصف وشرح حول تدابيرنا المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً تحت عنوان “معلومات حول التدابير المالية غير المتوافقة مع المعايير المحاسبية المقبولة عموماً وبعض المقاييس الرئيسية”.
Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
季度營收6,630萬美元，較去年同期成長11%
季度毛利率為64%，較前一年的61%有所上升
2019年3月31日的活躍用戶達到1,852名，較去年同期增加17%
拉斯維加斯–(BUSINESS WIRE)– (美國商業資訊)–全球企業軟體產品和服務提供者，也是甲骨文和SAP軟體產品第三方支援服務的主要提供者以及Salesforce合作夥伴Rimini Street, Inc. (Nasdaq: RMNI)今日宣佈截至2019年3月31日的第一季業績。
Rimini Street共同創辦人、執行長兼董事長Seth A. Ravin表示：「在第一季，我們取得有意義的進展，擴大了銷售能力，改進了我們的全球服務交付模式，推出並銷售Salesforce.com和可增加我們整體潛在市場的其他新支援服務。此外，3月，我們在美國最高法院以一致裁決贏得對甲骨文的勝訴。甲骨文被勒令歸還給Rimini Street約1,280萬美元以及利息和其他費用，甲骨文於4月支付了這筆費用。」
Rimini Street財務長Tom Sabol表示：「第一季的營收超過我們指引區間的最高值，我們的毛利率達到64%，高於預期。我們的銷售和行銷以及一般和行政開支都控制在指引區間內，完成額外的A輪優先融資，為推出新產品和服務提供資金並進一步強化我們的資產負債表。我們仍然致力於改善自由現金流和達成GAAP獲利的長期目標。」
2019年第一季業績摘要
- 2019年第一季營收為6,630萬美元，較上一年同期的5,980萬美元增加11%。
- 2019年第一季年化訂購營收約為2.65億美元，較上一年同期的2.39億美元增加11%。
- 截至2019年3月31日的活躍客戶數量總計為1,852名，較截至2018年3月31日的1,581名活躍客戶增加17%。
- 截至2019年3月31日之12個月的營收留存率為92.0%，截至2018年3月31日的留存率為93.0%。
- 2019年第一季的毛利率為64.0%，上一年同期為60.6%。
- 2019年第一季營業收入為1,270萬美元，上一年同期營業收入為2,520萬美元。
- 2019年第一季非GAAP營業收入為780萬美元，上一年同期非GAAP營業收入為610萬美元。
- 2019年第一季淨利為1,180萬美元，上一年同期淨利為350萬美元。
- 2019年第一季非GAAP淨利為670萬美元，上一年同期非GAAP淨損失為1,630萬美元。
- 2019年第一季調整後息稅折舊攤銷前利潤為810萬美元，上一年同期為670萬美元。
- 2019年第一季普通股股東每股基本盈餘為0.07美元，上一年同期為0.06美元。2019年第一季可歸屬於普通股股東的稀釋後每股盈餘為0.07美元，上一年同期為0.05美元。
本新聞稿中的非GAAP財務指標對照最直接可對比的GAAP財務指標的調節表已列於本新聞稿末尾的財務表格中。在標題為「關於非GAAP財務指標和某些關鍵指標」的段落中還介紹了這些指標和計算方法。
2019年第一季公司亮點
- 宣佈EBSCO Industries選擇Rimini Street為Salesforce提供應用程式管理服務，以盡量提高其Salesforce投資的價值和投資報酬率。
- 宣佈最高法院一致裁定公司勝訴，勒令甲骨文歸還給Remini Street約1,280萬元非應稅費用以及利息及其他費用。甲骨文於4月支付了此金額。
- 宣佈澳紐地區政府客戶的發展動力強勁，10餘個澳洲政府機構轉而使用Rimini Street支援服務。
- 榮獲9個公司獎項，包括客戶服務創新Stevie金牌獎和年度客戶服務團隊Gold One Planet獎。
- 完成創紀錄的近8,000起支援案例數量，客戶滿意度得分為4.8（5.0分為卓越）。
- 針對Peoplesoft、JD Edwards、SAP和Oracle E-Business Suite 產品為全球客戶提供了2萬多項稅務、法律和監管方面的更新。
- 在12場CIO和IT採購領導人活動上發表演講，包括英國倫敦的Government ICT、紐約的NRF和日本東京的Gartner’s EAA Summit。
2019年營收指引
公司目前提供的2019年第二季營收指引範圍約為6,650萬美元至6,750萬美元之間，並重申2019年全年營收指引範圍為2.65億美元至2.8億美元之間。
網播和電話會議資訊
Rimini Street將於美國東岸時間2019年5月9日下午5點/太平洋時間下午2點舉行電話會議和網播，討論2019年第一季業績。可在Rimini Street投資人關係網站https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events觀看會議現場網播。美國和加拿大的參與者可致電(855) 213-3942並輸入代碼1939675來收聽電話會議。會後將提供網播的重播，為期至少90天。
公司對非GAAP財務指標的使用
本新聞稿含有某些「非GAAP財務指標」。非GAAP財務指標並非是根據全面的會計準則或原則。這一非GAAP補充資訊無意取代美國GAAP要求揭露資訊所採用的業績指標。非GAAP財務指標應被視為GAAP財務指標的補充，而不是替代物或優於該指標。本新聞稿的財務表格中涵蓋GAAP與非GAAP業績的對照資訊。標題為「非GAAP財務指標和某些關鍵指標」的段落對非GAAP財務指標進行了介紹和解釋。
關於非GAAP財務指標和某些關鍵指標
為了給投資人和其他人士提供有關Rimini Street業績的更多資訊，我們已經揭露了以下非GAAP財務指標和某些關鍵指標。我們在下文解釋了活躍客戶、年化訂購營收和營收留存率，這些對我們業務來說都是重要的營運指標。此外，我們已經揭露了以下非GAAP財務指標：非GAAP營業收入、非GAAP淨利（虧損）、息稅折舊攤銷前利潤以及調整後息稅折舊攤銷前利潤。Rimini Street在上文表格中已提供本新聞稿中所使用的每個非GAAP財務指標與最直接可比的GAAP財務指標的對照表。由於對遞延稅資產的備抵評價，因此非GAAP調整沒有帶來任何稅務影響。這些非GAAP財務指標亦在下文進行了說明。
使用非GAAP指標的主要目的是提供補充資訊，管理層相信這些資訊可能對投資人有所幫助，並能夠讓投資人按照管理層的方式評估公司的業績。我們提供這些非GAAP財務指標的另一個原因是我們認為這些指標排除了公司認為與核心營運業績無關的項目，因此有助於投資人按照一致的標準來比較不同報告日期的業績，並將公司業績與其他公司業績進行比較。具體來說，管理層使用這些非GAAP指標來衡量營運業績；準備公司年度營運預算；配置資源以提升公司業務的財務表現；評估業務策略的有效性；以便按照一致的標準與過去財務業績進行比較；有助於將公司業績與其他公司業績進行比較，很多公司都是用類似的非GAAP財務指標來補充其GAAP業績資訊；以及向公司董事會彙報公司的財務業績。然而，請投資人注意，並非所有的公司都按照一致的標準來定義這些非GAAP指標。
活躍客戶是獨特的實體，它購買我們的服務來支援特定的產品，包括公司、教育或政府機構，或公司的業務部門。例如，我們為同一實體機構的不同兩種產品提供支援時，會將其算作兩個單獨的活躍客戶。我們認為，擴展活躍客戶的能力這一指標能夠用於衡量業務成長、銷售和行銷活動成功與否，以及客戶從公司服務中獲得多少價值。
年化訂購營收是將會計季度期間的訂購營收乘以4。此舉讓公司瞭解未來12個月內可從現有客戶群（假設這一期間沒有客戶取消或價格變化）獲得的營收。訂購營收不包括任何非重複性收入，這部分收入截至目前不占很大的比例。
營收留存率是12個月期間客戶（這12個月開始之日前便已是公司的客戶）的實際訂購營收（以美元計）除以截至12個月開始之日前的年化訂購營收額。
非GAAP營業收入是排除以下項目的營業收入：訴訟成本和相關追償（淨值）、股票薪酬費用。下文對這些扣除項目進行了詳細說明。
非GAAP淨利（虧損）是排除以下項目的淨利：訴訟成本和相關追償（淨值）；訴訟裁決中的判決後利息；股票薪酬費用；嵌入式衍生工具公允值變化所帶來的收益或虧損。下文對這些扣除項目進行了詳細說明。
具體而言，管理層在其所列會計日期的非GAAP財務指標中排除了以下項目（如適用）：
訴訟成本和相關追償（淨值）：與外部訴訟活動成本相關的訴訟成本和相關保險和上訴追償。這些成本和追償反映了涉及公司的持續訴訟，它與日常營運或我們服務客戶的核心業務無關。
股票薪酬費用：我們的薪酬策略包括使用股票薪酬來吸引和留住員工。這一策略的主要目的在於使員工的利益與股東的利益一致，並獲致長期員工留存，而不是在某一時期激勵或獎勵營運業績。結果，導致股票薪酬費用發生變化的原因往往與某一特定時期的營運決策和業績無關。
訴訟裁決中的判決後利息：判決後利息是由於我們對正在進行的訴訟上訴而產生的，與日常業務或我們為客戶提供服務的核心業務無關。
嵌入式衍生工具公允值變化所帶來的收益：公司此前的信貸安排包含被判定為嵌入式衍生品的特徵，需要分離並作為單獨金融工具進行會計處理。鑑於公允值要求的性質，我們已經決定排除嵌入式衍生工具公允值變化所導致的收益與虧損。我們無法將這些金額作為公司業務營運的一部分來管理，也不涉及為客戶提供服務的核心成本，因此已將其排除。
其他債務融資費用：其他債務融資費用包括非現金沖銷（包括由於結清債務產生的沖銷）、增加部分、債務貼現和發行成本攤銷，以及抵押監控和其他與此前信貸安排相關的應以現金支付的費用。儘管這些金額與公司的債務融資架構相關，但它們與公司的日常營運和服務客戶的核心業務無關，因此將其排除。
息稅折舊攤銷前利潤是排除以下項目的淨利：利息支出、所得稅支出和折舊攤銷費用。
調整後息稅折舊攤銷前利潤是排除以下項目的息稅折舊攤銷前利潤：訴訟成本和相關追償（淨值）；訴訟裁決中的判決後利息；股票薪酬費用；嵌入式衍生工具公允值變化所帶來的收益；以及上面討論的其他債務融資費用。
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Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
第１四半期の純収益：6,630万ドル（前年同期比11％増）
第１四半期の売上総利益率： 64％（前年の61％から増）
2019年3月31日現在の顧客数1,852社（前年比17％増）
2019年5月9日、ラスベガス – エンタープライズソフトウェア製品を対象としたサポートサービスを世界的に提供する、OracleおよびSAPソフトウェアの第三者保守サポートの業界リーダーで、Salesforceのパートナーであるリミニストリート （Nasdaq：RMNI）は本日、2019年3月31日に終了した2019年度第1四半期の業績を発表しました。
「第1四半期中、当社は、販売力の強化、グローバルサービス提供モデルの改善、Salesforce.comおよびその他の新しいサポートサービスの開始と販売など、市場全体の成長が見込まれる重要な進歩を遂げました」と、リミニストリートの共同設立者、CEOおよび取締役会会長であるSeth A. Ravinは述べています。「また、3月には米国最高裁判所において、裁判官全員一致の判決でOracleに勝訴しました。Oracleは、約1,280万ドルに利息やその他の費用を加えた金額をリミニストリートに返還するよう命じられ、支払いを4月に完了しました。」
「2019年第1四半期の収益は当社のガイダンスレンジ上限を超え、予想を上回る64％の売上総利益率を達成しました。」と、リミニストリートのCFOであるTom Sabolは述べています。「当社はガイダンスレンジ内で販売およびマーケティング、ならびに一般管理費の支出を管理し、新製品および新サービスの発売資金を調達し、バランスシートをさらに強化するための、追加のシリーズA優先資金調達ラウンドを完了しました。引き続き、フリーキャッシュフローを改善し、GAAP収益性を達成するという長期的な目標にも取り組んでいきます。」
2019年第1四半期の財務ハイライト
- 2019年第1四半期の純収益は、前年同期の5,980万ドルから11％増の6,630万ドル。
- 2019年第1四半期の年換算の契約利益は、前年同期の2億3,900万ドルから11％増の約2億6,500万ドル。
- 2019年3月31日現在の顧客数は、2018年3月31日の1,581社から17％増の1,852社。
- 2019年3月31日までの12ヶ月間の収益維持率は、2018年3月31日までの前年同期93.0％に対し92.0％。
- 2019年第1四半期の売上総利益率は、前年同期60.6％に対し64.0％。
- 2019年第1四半期の営業利益は、前年同期2,520万ドルに対し1,270万ドル。
- 2019年第1四半期の非GAAPベースの営業利益は、前年同期610万ドルに対し780万ドル。
- 2019年第1四半期の純利益は、前年同期350万ドルに対し1,180万ドル。
- 2019年第1四半期の非GAAPベースの純損益は、前年同期1,630万ドルの純損失に対し670万ドルの純利益。
- 2019年第1四半期の調整後EBITDAは、前年同期670万ドルに対し810万ドル。
- 2019年第1四半期の普通株主に帰属する一株当たりの基本利益は、前年同期0.06ドルに対し0.07ドル。2019年第1四半期の普通株主に帰属する潜在株式調整後一株当たり利益は、前年同期0.05ドルに対し0.07ドル。
本プレスリリース記載の非GAAPベースの財務指標を、最も直接的に対応するGAAPベースの財務指標に合わせて調整した数値を本プレスリリース末尾の財務諸表に掲載しております。これらの指標と計算方法については、「非GAAPベースの財務指標と特定の重要指標について」の項目をご覧ください。
2019年第1四半期の企業活動における注目点
- EBSCO Industriesが、Salesforceへの投資の価値とROIを最大化するために、リミニストリートのSalesforce向けアプリケーション管理サービスを選択したと発表。
- 米国最高裁判所は全員一致の判決を下し、Oracleに対し約1,280万ドルの非課税コストに加え利息、その他の費用を、リミニストリートに返還するよう命じたと発表。 Oracleは4月に返還を完了。
- 10以上のオーストラリアの政府機関がリミニストリートのサポートに切り替え。オーストラリアおよびニュージーランド地域で政府の採用が勢いを増したと発表。
- カスタマーサービスにおけるイノベーションに対するスティービーアワード金賞、カスタマーサービスチームオブザイヤーに対するワンプラネットアワード金賞など、9つのカンパニーアワードを受賞。
- 8,000件近くの記録的な数のサポートケースをクローズし、クライアント満足度4.8ポイントを獲得（最高点5.0ポイント）。
- Peoplesoft、JD Edwards、SAP、Oracle E-Business Suiteの各製品について、2万を超える税、法律、規制に関する最新情報を世界中の顧客に提供。
- イギリスのロンドンで行われたGovernment ICT、ニューヨークで行われたNRF、東京で行われたガートナーのEAAサミットなど12のCIOおよびIT調達リーダーのイベントで発表。
2019年収益予想
当社は現在、2019年第2四半期の収益予想を約6,650万ドルから6,750万ドルの範囲と見込んでおり、2019年の年間収益予想は約2億6,500万ドルから2億8,000万ドルの範囲と見込んでいます。
ウェブキャストおよびカンファレンスコールによる情報の提供
リミニストリートは、2019年5月9日、東部標準時午後5:00、太平洋標準時午後2:00より、カンファレンスコールとウェブキャストを実施し、2019年第1四半期の決算について説明します。本イベントのライブウェブキャストは、リミニストリートのIR（投資家情報）サイト（https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events）でご視聴いただけます。カンファレンスコールに参加される場合は、米国またはカナダの（855）213-3942をダイヤルし、「コード1939675」を入力してください。当該イベント終了後、ウェブキャストの再生を90日間以上公開いたします。
非GAAPベースの財務指標の使用について
本プレスリリースには、「非GAAPベースの財務指標」が含まれています。 非GAAPベースの財務指標は、包括的な会計規則や会計原則に基づくものではありません。この非GAAPベースの情報は補足情報として掲載するものであり、GAAP（一般に認められた米国会計原則）で義務付けられる開示要件に則る業績指標の明示を意図するものではありません。非GAAPベースの財務指標はGAAPに従って算定された財務指標の追加情報とみなすべきものであり、その代替情報またはそれに優先する情報とみなすべきものではありません。本プレスリリースの財務諸表では、GAAPベースの数値を非GAAPベースで調整した数値で掲載しています。また、「非GAAPベースの財務指標と特定の重要指標について」の項目で、当社の非GAAPベース財務指標ついてご説明しています。
Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
Quarterly revenue of $66.3 million, up 11% year over year
Quarterly gross margin of 64%, up from 61% year over year
1,852 active clients at March 31, 2019, up 17% year over year
LAS VEGAS, May 9, 2019 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2019.
“During the first quarter, we made meaningful progress expanding sales capacity, improving our global service delivery model and launching and selling Salesforce.com and other new support services that increase our total addressable market,” stated Seth A. Ravin, Rimini Street co-founder, CEO and Chairman of the Board. “Additionally, in March we prevailed against Oracle in the U.S. Supreme Court with a unanimous decision. Oracle was ordered to return approximately $12.8 million plus interest and other costs to Rimini Street, which Oracle paid in April.”
“Revenue in the first quarter exceeded the high end of our guidance range and we achieved a better than expected gross margin of 64%,” stated Tom Sabol, Rimini Street CFO. “We managed sales and marketing and general and administrative spend within our guidance range, completed an additional Series A Preferred financing round to fund new product and service launches and further strengthen our balance sheet. We remain committed to the long-term goals of improving free cash flow and achieving GAAP profitability.”
First Quarter 2019 Financial Highlights
- Revenue was $66.3 million for the 2019 first quarter, an increase of 11% compared to $59.8 million for the same period last year.
- Annualized Subscription Revenue was approximately $265 million for the 2019 first quarter, an increase of 11% compared to $239 million for the same period last year.
- Active Clients as of March 31, 2019 were 1,852, an increase of 17% compared to 1,581 Active Clients as of March 31, 2018.
- Revenue Retention Rate was 92.0% for the trailing 12 months ended March 31, 2019 compared to 93.0% for the comparable period ended March 31, 2018.
- Gross margin was 64.0% for the 2019 first quarter compared to 60.6% for the same period last year.
- Operating income was $12.7 million for the 2019 first quarter compared to $25.2 million for the same period last year.
- Non-GAAP Operating Income was $7.8 million for the 2019 first quarter compared to $6.1 million for the same period last year.
- Net income was $11.8 million for the 2019 first quarter compared to a net income of $3.5 million for the same period last year.
- Non-GAAP Net Income was $6.7 million for the 2019 first quarter compared to Non-GAAP Net Loss of $16.3 million for the same period last year.
- Adjusted EBITDA for the 2019 first quarter was $8.1 million compared to $6.7 million for the same period last year.
- Basic earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.06 per share for the same period last year. Diluted earnings per share attributable to common stockholders was $0.07 per share for the 2019 first quarter compared to $0.05 per share for the same period last year.
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
First Quarter 2019 Company Highlights
- Announced that EBSCO Industries chose Rimini Street Application Management Services for Salesforce to maximize the value and ROI of their Salesforce investment.
- Announced the Supreme Court ruled unanimously in the Company’s favor, ordering Oracle to return approximately $12.8 million in non-taxable expenses plus interest and other costs to Rimini Street. Oracle paid the amounts in April.
- Announced strong government client momentum in the ANZ region, with more than 10 Australian government agencies switching to Rimini Street support.
- Won nine Company awards, including a Gold Stevie award for Innovation in Customer Service, and a Gold One Planet award for Customer Service Team of the Year.
- Closed a record number of support cases, nearly 8,000, and scored a 4.8 in client satisfaction (where 5.0 is excellent).
- Delivered more than 20,000 tax, legal and regulatory updates to clients globally for Peoplesoft, JD Edwards, SAP and Oracle E-Business Suite products.
- Presented at 12 CIO and IT procurement leader events including Government ICT in London, England, NRF in New York, and Gartner’s EAA Summit in Tokyo, Japan.
2019 Revenue Guidance
The Company is currently providing second quarter 2019 revenue guidance to be in the range of approximately $66.5 million to $67.5 million and reiterating full year 2019 revenue guidance to be in the range of approximately $265 million to $280 million.
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter 2019 results at 5:00 p.m. Eastern / 2:00 p.m. Pacific time on May 9, 2019. A live webcast of the event will be available on Rimini Street’s Investor Relations site at https://investors.riministreet.com/events-and-presentations/upcoming-and-past-events. Dial in participants can access the conference call by dialing (855) 213-3942 in the U.S. and Canada and enter the code 1939675. A replay of the webcast will be available for at least 90 days following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP. A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release. Presented under the heading “About Non-GAAP Financial Measures and Certain Key Metrics” is a description and explanation of our non-GAAP financial measures.
