Second Quarter Financial Highlights Include:
Revenue of $111.1 million, up 6.7% year over year
Adjusted Revenue of $108.0 million, up 10.0% year over year
Remaining Performance Obligations (RPO) of $636.9 million, up 8.0% year over year
Adjusted Annualized Recurring Revenue of $401.1 million, up 8.1% year over year
LAS VEGAS, July 30, 2026 – Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal second quarter ended June 30, 2026.
“Second-quarter results and four consecutive quarters of improved growth metrics demonstrate strong demand for our core Rimini Support™ offering, increasing adoption of our broader enterprise software services portfolio and improving sales execution,” said Seth Ravin, president and CEO, Rimini Street. “Real innovation is not about installing a software vendor’s next ‘.ai’ release — it is about reducing total operating costs, improving profitability and enhancing competitive advantage. We help organizations achieve these goals by avoiding the costs and risks of unnecessary ERP Software upgrades and migrations and instead economically deploying Rimini Street’s innovative Agentic AI ERP solutions ‘over the top’ of existing ERP Software to deliver faster, better, cheaper and more agile ERP process execution – funded within the current IT budget.”
“The quarter results reflect continued growth momentum, expanding contracted revenue visibility and disciplined balance sheet management,” said Michael Perica, CFO, Rimini Street. “During the quarter, we prepaid another $10 million of debt, reduced outstanding debt to $48.4 million and increased total cash and cash equivalents to $123.4 million as of June 30, 2026. Comparisons of second quarter of 2026 operating income, net income and earnings per share are significantly impacted by a litigation settlement benefit recognized during the second quarter of 2025. Excluding prior-year litigation-related items, the Company continued to deliver profitability and growth while investing in sales capacity, product innovation and AI service offerings – where today we launched Rimini Govern™ for AI that offers AI agent governance and management as a service.”
Select Second Quarter 2026 Financial Results
- Revenue was $111.1 million for the second quarter of 2026, an increase of 6.7% compared to $104.1 million for the same period last year; excluding revenue for Oracle’s PeopleSoft software products, Adjusted Revenue increased by 10.0%.
- U.S. revenue was $48.4 million for the second quarter of 2026, a decrease of 1.6% compared to $49.2 million for the same period last year; excluding revenue for Oracle’s PeopleSoft software products, U.S. revenue increased by 3.1%.
- International revenue was $62.7 million for the second quarter of 2026, an increase of 14.1% compared to $55.0 million for the same period last year; excluding revenue for Oracle’s PeopleSoft software products, international revenue increased by 15.8%.
- Subscription revenue was $103.2 million, which accounted for 92.9% of total revenue for the second quarter of 2026, compared to subscription revenue of $98.5 million, which accounted for 94.6% of total revenue for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, subscription revenue was $100.3 million, or 92.8% of total revenue, for the second quarter of 2026 compared to $92.8 million, or 94.5% of total revenue, for the same period last year.
- Annualized Recurring Revenue was $412.8 million for the second quarter of 2026, an increase of 4.8% compared to $394.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, Adjusted Annualized Recurring Revenue was $401.1 million for the second quarter of 2026, an increase of 8.1% compared to $371.1 million for the same period last year.
- Active Clients as of June 30, 2026 were 3,132, an increase of 2.4% compared to 3,060 Active Clients as of June 30, 2025.
- Revenue Retention Rate was 90% and 90% for the trailing 12 months ended June 30, 2026 and 2025, respectively.
- Calculated Billings was $100.9 million for the second quarter of 2026, a decrease of 8.8% compared to $110.6 million for the same period last year.
- Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $99.3 million for the second quarter of 2026, a decrease of 8.0% compared to $107.9 million for the same period last year.
- Remaining Performance Obligations (RPO) was $636.9 million as of June 30, 2026, an increase of 8.0% compared to $589.8 million as of June 30, 2025; excluding the support services for Oracle’s PeopleSoft software products, Adjusted RPO was $627.5 million as of June 30, 2026, an increase of 8.8% compared to $576.7 million as of June 30, 2025.
- Gross margin was 60.9% for the second quarter of 2026 compared to 60.4% for the same period last year.
- Operating income was $6.4 million for the second quarter of 2026 compared to $41.2 million for the same period last year.
- Non-GAAP Operating Income was $9.2 million for the second quarter of 2026 compared to $10.9 million for the same period last year.
- Net income was $2.4 million for the second quarter of 2026 compared to $30.3 million for the same period last year.
- Non-GAAP Net Income was $5.9 million for the second quarter of 2026 compared to $7.8 million for the same period last year.
- Adjusted EBITDA for the second quarter of 2026 was $10.5 million compared to $14.0 million for the same period last year.
- Basic and diluted earnings per share attributable to common stockholders was $0.03 and $0.03, respectively, for the second quarter of 2026, compared to a basic and diluted earnings per share of $0.33 and $0.32, respectively, for the same period last year.
- Cash and cash equivalents were $123.4 million at June 30, 2026 compared to $101.3 million at June 30, 2025.
Select Second Quarter 2026 Operating Results
- Announced new and existing clients that expanded their agreements with Rimini Street, including the following:
- VIVERE Group, a leading Indonesian interior contractor and furniture maker, selected Rimini Support™ for SAP ECC 6.0 to strengthen business continuity, avoid a costly and disruptive SAP migration, and redirect resources toward digital transformation and innovation.
- One NZ, a leading New Zealand telecommunications provider, chose Rimini Support™ to optimize its Oracle environment, including Siebel CRM and Oracle Database, while accelerating its AI transformation strategy. The company described Rimini Street as a trusted “co-innovation partner,” enabling it to redirect capital and talent toward future growth and its vision of becoming a world-leading AI-enabled telecommunications provider.
- Medical Microinstruments, Inc., an Italian robotic microsurgery company, leveraged Rimini Consult™ for Salesforce to maximize ROI on its technology investments and helped eliminate unnecessary third-party software costs, implement critical training and certification workflows, and develop a long-term Salesforce roadmap to support the company’s global growth and continued innovation in life-enhancing surgical technology. The company noted, “The progress we’ve seen in reducing manual processes and enhancing data-driven decision making reflects the strategic value Rimini Street brings to our Salesforce evolution.”
- Cochlear Limited, an Australian hearing technology leader, chose Rimini Support™ for Oracle to gain greater control and flexibility over its ERP roadmap, avoid vendor-driven upgrade cycles, and free critical resources for digital transformation and new AI-powered customer service and analytics initiatives. The company noted, “Moving to Rimini Street gave us back control of our ERP platform. It took us out of that vendor driven upgrade cycle.”
- Resolved nearly 6,800 support cases and delivered over 4,500 tax, legal, and regulatory updates across 25 countries, achieving an average Rimini Support client satisfaction score of 4.9 out of 5.0 (where 5.0 is rated excellent).
Business Outlook
The Company expects third quarter 2026 revenue to be in the range of $110 million to $112 million. The Company is also reiterating its full year 2026 outlook, which calls for revenue growth of 4% to 6% and Adjusted EBITDA margins of 12.5% to 15.5% and is consistent with the goal of achieving the “Rule of 20” for fiscal year 2026.
Webcast and Conference Call Information
The Company will host a conference call and webcast to discuss the second quarter of 2026 results and offer commentary on full year 2026 at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on July 30, 2026. A live webcast of the event will be available on Rimini Street’s Investor Relations site at Rimini Street IR events link and directly via the webcast link. Dial-in participants can access the conference call by dialing 1-800-836-8184. A replay of the webcast will be available for one year 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, and not as a substitute for or superior to, financial measures determined in accordance with GAAP.
Reconciliations of the non-GAAP financial measures included in this press release and described below 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, why we believe they are meaningful and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
RIMINI STREET, INC.
Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
| ASSETS | June 30, 2026 |
December 31, 2025 | |
| Current assets: | |||
| Cash and cash equivalents | $123,441 | $119,974 | |
| Restricted cash, current | 342 | 341 | |
| Accounts receivable, net of allowance of $1,802 and $1,443, respectively | 91,760 | 136,866 | |
| Deferred contract costs, current | 17,579 | 17,734 | |
| Prepaid expenses and other | 29,141 | 25,447 | |
| Total current assets | 262,263 | 300,362 | |
| Long-term assets: | |||
| Restricted cash, noncurrent | 784 | 785 | |
| Property and equipment, net of accumulated depreciation and amortization of $24,606 and $23,822, respectively | 9,615 | 10,239 | |
| Operating lease right-of-use assets | 19,695 | 21,371 | |
| Deferred contract costs, noncurrent | 24,064 | 24,436 | |
| Deposits and other | 8,717 | 8,379 | |
| Deferred income taxes, net | 59,114 | 57,540 | |
| Total assets | $384,252 | $423,112 | |
|
LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT |
|||
| Current liabilities: | |||
| Current maturities of long-term debt | $— | $4,031 | |
| Accounts payable | 4,577 | 5,752 | |
| Accrued compensation, benefits and commissions | 36,851 | 39,609 | |
| Other accrued liabilities | 23,466 | 24,307 | |
| Operating lease liabilities, current | 4,355 | 4,984 | |
| Deferred revenue, current | 243,059 | 268,717 | |
| Total current liabilities | 312,308 | 347,400 | |
| Long-term liabilities: | |||
| Long-term debt, net of current maturities | 46,575 | 63,156 | |
| Deferred revenue, noncurrent | 24,072 | 18,824 | |
| Operating lease liabilities, noncurrent | 16,600 | 18,843 | |
| Other long-term liabilities | 1,365 | 1,918 | |
| Total liabilities | 400,920 | 450,141 | |
| Stockholders’ deficit: | |||
| Preferred Stock, $0.0001 par value per share. Authorized 99,820 shares (excluding 180 shares of Series A Preferred Stock); no other series has been designated | — | — | |
| Common Stock, $0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 93,336 and 91,603 shares, respectively | 9 | 9 | |
| Additional paid-in capital | 186,907 | 181,075 | |
| Accumulated other comprehensive loss | (4,843) | (5,613) | |
| Accumulated deficit | (197,625) | (201,384) | |
| Treasury stock, at cost, 137 and 137 shares, respectively | (1,116) | (1,116) | |
| Total stockholders’ deficit | (16,668) | (27,029) | |
| Total liabilities and stockholders’ deficit | $384,252 | $423,112 | |
RIMINI STREET, INC.
Unaudited Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
| Three Months Ended | Six Months Ended | ||||||
| June 30, | June 30, | ||||||
| 2026 | 2025 | 2026 | 2025 | ||||
| Revenue | $111,075 | $104,114 | $216,548 | $208,318 | |||
| Cost of revenue | 43,378 | 41,261 | 86,586 | 81,931 | |||
| Gross profit | 67,697 | 62,853 | 129,962 | 126,387 | |||
| Operating expenses: | |||||||
| Sales and marketing | 42,743 | 38,020 | 81,379 | 72,275 | |||
| General and administrative | 17,301 | 16,845 | 35,151 | 34,376 | |||
| Research and development | 1,114 | — | 1,685 | — | |||
| Reorganization costs | 166 | 722 | 573 | 1,184 | |||
| Litigation costs and related recoveries: | |||||||
| Litigation settlement | — | (36,196) | — | (36,196) | |||
| Professional fees and other costs of litigation | — | 2,264 | — | 4,189 | |||
| Litigation costs and related recoveries, net | — | (33,932) | — | (32,007) | |||
| Total operating expenses | 61,324 | 21,655 | 118,788 | 75,828 | |||
| Operating income | 6,373 | 41,198 | 11,174 | 50,559 | |||
| Non-operating income and (expenses): | |||||||
| Interest expense | (1,130) | (1,629) | (2,381) | (3,304) | |||
| Other income (expenses), net | (284) | 1,232 | (1,524) | 1,155 | |||
| Income before income taxes | 4,959 | 40,801 | 7,269 | 48,410 | |||
| Income taxes | (2,561) | (10,543) | (3,510) | (14,802) | |||
| Net income | $2,398 | $30,258 | $3,759 | $33,608 | |||
| Net income per share attributable to common stockholders: | |||||||
| Basic | $0.03 | $0.33 | $0.04 | $0.37 | |||
| Diluted | $0.03 | $0.32 | $0.04 | $0.36 | |||
| Weighted average number of shares of Common Stock outstanding: | |||||||
| Basic | 92,931 | 92,127 | 92,364 | 91,686 | |||
| Diluted | 94,833 | 94,120 | 94,398 | 93,752 | |||
RIMINI STREET, INC.
GAAP to Non-GAAP Reconciliations
(In thousands)
| Three Months Ended | Six Months Ended | ||||||
| June 30, | June 30, | ||||||
| 2026 | 2025 | 2026 | 2025 | ||||
| Non-GAAP operating income reconciliation: | |||||||
| Operating income | $6,373 | $41,198 | $11,174 | $50,559 | |||
| Non-GAAP adjustments: | |||||||
| Litigation costs and related recoveries, net | — | (33,932) | — | (32,007) | |||
| Stock-based compensation expense | 2,660 | 2,873 | 5,321 | 5,575 | |||
| Reorganization costs | 166 | 722 | 573 | 1,184 | |||
| Non-GAAP operating income | $9,199 | $10,861 | $17,068 | $25,311 | |||
| Non-GAAP net income reconciliation: | |||||||
| Income before income taxes | $4,959 | $40,801 | $7,269 | $48,410 | |||
| Non-GAAP adjustments: | |||||||
| Litigation costs and related recoveries, net | — | (33,932) | — | (32,007) | |||
| Stock-based compensation expense | 2,660 | 2,873 | 5,321 | 5,575 | |||
| Reorganization costs | 166 | 722 | 573 | 1,184 | |||
| Non-GAAP income taxes | (1,904) | (2,626) | (3,233) | (5,814) | |||
| Non-GAAP net income | $5,881 | $7,838 | $9,930 | $17,348 | |||
| Non-GAAP Adjusted EBITDA reconciliation: | |||||||
| Net income | $2,398 | $30,258 | $3,759 | $33,608 | |||
| Non-GAAP adjustments: | |||||||
| Interest expense | 1,130 | 1,629 | 2,381 | 3,304 | |||
| Income taxes | 2,561 | 10,543 | 3,510 | 14,802 | |||
| Depreciation and amortization expense | 1,004 | 858 | 1,999 | 1,789 | |||
| EBITDA | 7,093 | 43,288 | 11,649 | 53,503 | |||
| Non-GAAP adjustments: | |||||||
| Litigation costs and related recoveries, net | — | (33,932) | — | (32,007) | |||
| Stock-based compensation expense | 2,660 | 2,873 | 5,321 | 5,575 | |||
| Reorganization costs | 166 | 722 | 573 | 1,184 | |||
| Unrealized foreign exchange losses | 612 | 1,029 | 1,893 | 1,429 | |||
| Adjusted EBITDA | $10,531 | $13,980 | $19,436 | $29,684 | |||
| Calculated Billings: | |||||||
| Revenue | $111,075 | $104,114 | $216,548 | $208,318 | |||
| Deferred revenue, current and noncurrent, end of the period | 267,131 | 262,945 | 267,131 | 262,945 | |||
| Deferred revenue, current and noncurrent, beginning of the period | 277,329 | 256,423 | 287,541 | 281,197 | |||
| Change in deferred revenue | (10,198) | 6,522 | (20,410) | (18,252) | |||
| Calculated billings | 100,877 | 110,636 | 196,138 | 190,066 | |||
| Less PeopleSoft calculated billings | (1,573) | (2,724) | (4,636) | (7,150) | |||
| Adjusted calculated billings | $99,304 | $107,912 | $191,502 | $182,916 | |||
RIMINI STREET, INC.
GAAP to Non-GAAP Reconciliations
(In thousands)
| Three Months Ended June 30, | ||||
| Adjusted revenue reconciliation: | 2026 | 2025 | ||
| Revenue | $111,075 | $104,114 | ||
| Less PeopleSoft revenue | 3,060 | 5,929 | ||
| Adjusted revenue | $108,015 | $98,185 | ||
| Three Months Ended June 30, | ||||
| Adjusted annualized recurring revenue reconciliation: | 2026 | 2025 | ||
| Annualized recurring revenue | $412,837 | $394,072 | ||
| Less annualized PeopleSoft recurring revenue | 11,742 | 22,949 | ||
| Adjusted annualized recurring revenue | $401,095 | $371,123 | ||
| Adjusted remaining performance obligations reconciliation: | June 30, 2026 | June 30, 2025 | ||
| Remaining performance obligations | $636,893 | $589,847 | ||
| Less PeopleSoft remaining performance obligations | 9,346 | 13,142 | ||
| Adjusted remaining performance obligations | $627,547 | $576,705 | ||
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, Adjusted Revenue, Annualized Recurring Revenue, Adjusted Annualized Recurring Revenue, Revenue Retention Rate and Remaining Performance Obligations, 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, EBITDA, Adjusted EBITDA, Calculated Billings, Adjusted Calculated Billings and Adjusted Remaining Performance Obligations. In addition, we present certain financial metrics excluding our Oracle’s PeopleSoft software product offering to permit investors to see the operation of our continuing business, excluding reductions associated with the PeopleSoft wind down. 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. 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.
Adjusted Revenue is revenue adjusted to exclude revenue associated with services for Oracle’s PeopleSoft software products.
Annualized Recurring Revenue (ARR) 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.
Adjusted Annualized Recurring Revenue (Adjusted ARR) is annualized recurring revenue adjusted to exclude subscription revenue associated with services for Oracle’s PeopleSoft software products recognized during a fiscal quarter and multiplied by four.
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 Recurring 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 related recoveries, net, stock-based compensation expense and reorganization costs. The exclusions are discussed in further detail below.
Non-GAAP Income Taxes is the income tax effect adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs from income before income taxes.
Non-GAAP Net Income is net income adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs after taxes. These exclusions are discussed in further detail below.
Specifically, management excludes the following items from its non-GAAP financial measures, as applicable, for the periods presented:
Litigation Costs and Related Recoveries, Net: Litigation costs and the associated litigation settlement, insurance and appeal recoveries relate to outside costs of litigation activities. These costs and recoveries reflect the 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 employee interests with those of our stockholders and to achieve long-term employee retention. As a result, stock-based compensation expense varies for reasons that are generally unrelated to operational decisions in any particular period.
Reorganization Costs: The costs consist primarily of severance costs associated with the Company’s reorganization plan.
EBITDA is net income adjusted to exclude: interest expense, income taxes, and depreciation and amortization expense.
Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs, as discussed above. In addition, it is also adjusted by unrealized foreign exchange (gains) or losses.
Calculated Billings represents the change in deferred revenue for the current period plus revenue for the current period.
Adjusted Calculated Billings is calculated billings adjusted to exclude the calculated billings associated with services for Oracle’s PeopleSoft software products.
Remaining Performance Obligations (RPO) represent all future non-cancellable revenue under contract that has not yet been recognized as revenue, and includes deferred revenue and unbilled amounts.
Adjusted Remaining Performance Obligations (Adjusted RPO) is the Company’s remaining performance obligations adjusted to exclude the remaining performance obligations for services for Oracle’s PeopleSoft software products.
Rule of 20 is achieved when the revenue growth percentage and adjusted EBITDA percentage of revenue equal 20% when added together.