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Rimini Street Announces Preliminary 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, July 8, 2015 Rimini 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 preliminary financial results for the second quarter ending June 30, 2015.

Thirty Eight Consecutive Quarters of Growth

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.

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

Notable Achievements in Q2 2015:

  • Launched Rimini Street’s next-generation comprehensive suite of enterprise software support services for Oracle and SAP licensees, including new and innovative features such as Security Support Services, Risk Avoidance Services and Innovation & Roadmap Services.
  • Signed new reseller distribution agreements with two leading technology solution providers in Japan, expanding the Company’s local direct sales force reach and capabilities for delivering independent maintenance services across the region.
  • Signed 54 new client transactions worldwide.
  • Hired 92 new employees worldwide, expanding the global workforce to nearly 600 employees.

“We continue to execute according to our global business plan. Strong and growing worldwide demand for Rimini Street’s Oracle and SAP support services has not only fueled North American sales growth, but higher-than-planned international sales has required us to accelerate international expansion to meet that demand,” said Seth Ravin, CEO, Rimini Street. “We have built this Company from the ground up on a foundation of excellent client service, robust service offerings, and exceptional client value, and we remain as focused and committed to these core values today as the day we launched the Company a decade ago.”

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. Over 2,000 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries rely 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.

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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 forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. 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, 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 (including our pending appeal of the permanent injunction) or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our 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 our recently introduced products and services, including our 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 we expect 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 discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 7, 2019, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and 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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