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Rimini Street Announces Preliminary Fiscal First Quarter 2015 Financial Results

Net Revenues of $25.9 Million, Up 40% Year over Year
Deferred Revenues of $86.8 Million, Up 43% Year over Year
Surpassed 1,000 Signed Clients Since Inception, Up 27% Year over Year

LAS VEGAS, April 29, 2015Rimini Street, Inc., the leading global 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 and Oracle Retail, today announced its financial results for the three months ended March 31, 2015.

Rimini Street’s first quarter results included record highs in net revenues and deferred revenues. Also, the number of clients electing multi-year, non-cancelable service periods is a record for fiscal first quarters.

  • Net revenues for the first fiscal quarter of 2015 increased 40% year over year to $25.9 million
  • Deferred revenues as of March 31, 2015 increased 43% year over year to $86.8 million

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

Notable Q1 2015 Achievements:

  • Surpassed 1,000 signed clients since inception
  • Signed first client headquartered in China, a $40 billion chemical conglomerate
  • Signed first client headquartered in South Africa, one of Africa’s largest steel distributors
  • Signed 66 new transactions, a record number of new clients in a fiscal first quarter
  • Hired 58 new employees worldwide, expanding the global workforce to more than 500 employees
  • Resolved thousands of client support cases with an average response time of less than five minutes and average client satisfaction rating of 4.8 out of 5 (where 5 equals “excellent”)
  • Delivered over 90,000 global tax, legal, and regulatory updates to date, across more than 100 countries

“We exceeded our fiscal first quarter plan and surpassed the milestone of 1,000 clients signed since inception, a  direct result of the success and value Oracle and SAP licensees are achieving with a switch to Rimini Street’s innovative and robust support offering,” said Seth Ravin, CEO, Rimini Street. “Today, we further extend our vision by launching Rimini Street’s next-generation enterprise software support model. We are grateful for and honored by the opportunity to serve each and every client who has made our global growth and success possible, and we remain committed to bringing the most innovative and cost-effective enterprise software support services to our current and future clients.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is 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. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 3,500 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and as updated from time to time by other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Investor Relations Contact
Dean Pohl

Rimini Street, Inc.

+1 925 523-7636 dpohl@riministreet.com
Media Relations Contact
Michelle McGlocklin

Rimini Street, Inc.

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