新聞稿

Rimini Street宣佈2019年第三會計季度財務業績

2019/11/7

季度營收6,900萬美元,較去年同期成長10.1%
季度毛利潤率為62.4%,較去年同期的64.5%有所下滑
2019930日活躍用戶達到2,032名,較去年同期增加17.3%

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、甲骨文和SAP軟體產品第三方支援服務主要提供者以及Salesforce合作夥伴Rimini Street, Inc. (Nasdaq: RMNI)今日宣佈截至2019年9月30日的第三季業績。

Rimini Street共同創辦人、執行長、董事長Seth A. Ravin表示:「在第三季,我們持續看到業績不斷改善,這歸功於過去18個月在全球銷售能力、生產力和基礎設施領域的投資。我們仍繼續擴大全球能力以及新產品和服務,並在杜拜開設辦事處以服務海灣地區的客戶,並宣佈在全球提供SAP應用程式管理服務(Application Management Services)。此外,今天我們宣佈在全球推出針對Oracle資料庫和應用程式的應用程式管理服務。」"

Rimini Street財務長Tom Sabol表示:「第三季營收、銷售和行銷以及一般性行政開支都在我們的季度指引範圍之內,而第三季和年初至今的毛利潤率均超出我們此前提供的指引範圍。我們依然致力於公司的長期目標,包括營收成長、強勁的自由現金流,以及獲致永續的GAAP獲利能力。」

2019年第三季業績摘要

  • 2019年第三季營收為6,900萬美元,較去年同期的6,260萬美元成長10.1%。
  • 2019年第三季年化訂購營收約為2.74億美元,較去年同期的2.5億美元成長10%。
  • 截至2019年9月30日,活躍用戶達到2,032名,較去年同期的1,732名增加了17.3%。
  • 截至2019年9月30日之12個月的營收留存率為91.5%,而截至2018年9月30日之12個月的留存率為92.0%。
  • 截至2019年9月30日之12個月的營收留存率為91.5%,而截至2018年9月30日之12個月的留存率為92.0%。
  • 2019年和2018年第三季營業收入均為250萬美元。
  • 2019年第三季非GAAP營業收入為750萬美元,去年同期為1,070萬美元。
  • 2019年第三季淨利為170萬美元,去年同期為淨虧損4,840萬美元
  • 2019年和2018年第三季非GAAP淨利均為670萬美元。
  • 2019年第三季調整後息稅折舊攤銷前利潤為760萬美元,去年同期為1,080萬美元。
  • 2019年第三季可歸於普通股東的基本和稀釋後每股盈餘為每股淨虧損0.07美元,去年同期為淨虧損0.85美元。

本新聞稿中的非GAAP財務指標對照最直接可比的GAAP財務指標的調節表列於本新聞稿末尾的財務表格中。標題為「非GAAP財務指標和某些關鍵指標」的段落說明了這些指標、公司認為這些指標有意義的理由,以及它們的計算方法。

2019年第三季公司亮點

  • 宣佈全球汽車製造商現代-起亞汽車選擇Rimini Street為其全球資料庫資產組合提供支援和維護服務。
  • 宣佈在全球推出SAP應用程式管理服務,為客戶提供統包支援解決方案來運行其SAP系統,該方案整合了SAP應用程式管理服務和支援服務。
  •  擴大在中東的投資,包括在杜拜設立新的分支機搆和辦事處,並聘用當地員工支援海灣地區不斷成長的需求。
  • 完成逾7,500件支援案例,整體客戶滿意度平均得分為4.8(5.0分為卓越)。
  • 針對Peoplesoft、JD Edwards、SAP和Oracle E-Business Suite 產品,為全球客戶提供逾1.5萬項稅負、法律和監管方面的更新
  • 宣佈榮獲多個獎項,包括:
    ◦ 全球SAP支援團隊獲年度客戶服務團隊(Customer Service Team of the Year) Stevie ABA金牌獎和 Stevie IBA銀牌獎;
    ◦  年度公司 |電腦服務Stevie ABA金牌獎和Stevie IBA金牌獎;
    ◦  在客戶銷售和服務獎 (Customer Sales and Service Awards) 中榮獲四項大獎,包括年度里程碑金牌獎和年度客戶服務傑出表現獎。
  • 參加了13場資訊長、財務長和IT採購領導人活動,包括紐約CFO.org,IDC在墨西哥巴亞爾塔港舉行的CIO Empowerment會議,Gartner在達拉斯舉行的ITAM Summit,以及東京的Japan Information Systems User Association。

2019年營收指引

公司維持2.75億美元的全年指引中點,並將營收指引範圍縮小到2.745億美元至2.755億美元,同時2019年第四季營收指引區間設定為7,130萬美元至7,230萬美元。

財務長變動

Rimini Street今日宣佈,Thomas Sabol辭去財務長一職,將於2019年11月15日生效。他將在其居住地所在州尋求其他機會。此前擔任公司副總裁和公司主計長的Stanley Mbugua被任命為集團副總裁兼會計長,2019年11月5日生效。公司正積極招聘新財務長。Ravin先生表示:「我要感謝Tom過去三年來在領導公司財務方面的貢獻,其中包括成功完成多項重大的再融資交易,以及協助公司在2017年上市。我們希望他在新職位上一切順利。」

網播和電話會議資訊

Rimini Street將於東部時間2019年11月7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年第三季業績。可至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8398042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財務指標並非是依據全面的會計準則或原則。這一非GAAP補充資訊並非旨在取代美國GAAP要求揭露所採用的業績指標。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」的段落是對非GAAP財務指標的說明和解釋。

關於Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI)是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商以及Salesforce的合作夥伴。公司致力於提供優質、超快回應和整合式應用程式管理和支援服務,能夠讓企業軟體授權用戶節省大量的成本,釋出資源用於創新,並取得更好的業績。各行各業的2,000多家全球性組織、財星500大企業、中型企業、公共事業部門和其他機構都選擇Rimini Street作為其信賴的應用企業軟體產品和服務提供者。查詢詳情,請造訪http://www.riministreet.com/,透過@riministreet在Twitter上關注我們,並在Facebook和LinkedIn上關注我們。(IR-RMNI)

前瞻性陳述

本新聞稿中的某些陳述並非是歷史事實,而是《1995年私人證券訴訟改革法》安全港條款所定義的前瞻性陳述。前瞻性陳述通常含有以下詞語:「可能 」、「應 」、「會 」、「計畫 」、「打算 」、「預期 」、「認為 」、「估計 」、「預測 」、「潛在 」、「似乎 」、「尋求 」、「繼續 」、「未來 」、「將 」、「預計 」、「展望 」或其他類似詞語、短語或表述。這些前瞻性陳述包括但不限於我們對未來事件、未來機會、全球擴張及其他成長動議和我們關於此等動議投資之預期的陳述。這些陳述根據不同的假設以及管理層目前的預期,並非是對實際業績的預測,也不是歷史事實。這些陳述取決於與Rimini Street業務有關的多個風險和不確定性因素,而且實際結果可能會發生重大變化。這些風險和不確定性因素包括但不限於:Rimini Street經營業務環境的變化,包括通貨膨脹和利率,以及影響Rimini Street所在行業的一般性金融、經濟、監管和政治條件;待決訴訟(包括有關永久禁制令的待決上訴)或政府調查或任何新訴訟的不利進展;以有利條款籌集額外股本或進行債務融資的需要和能力,以及我們能否從營運中產生現金流,以幫助為我們成長計畫中增加的投資提供資金;我們的現金和現金等價物是否足以滿足我們的流動性要求;我們流通在外的13.00% A輪優先股的條款和影響;稅負、政府法律和法規的變化;競爭產品和定價活動;無法實現獲利性成長;客戶採用最近推出產品和服務的情況,包括 Application Management Services (AMS)、Rimini Street Advanced Database Security,以及針對Salesforce Sales Cloud和Service Cloud 產品的服務,以及我們預計將於近期推出的其他產品和服務;Rimini Street管理團隊損失一名或多名成員;RMNI股本證券長期價值存在不確定性;以及Rimini Street於2019年11月7日呈報的Form 10-Q季報所列標題「風險因素」項下所討論的內容,Rimini Street未來的Form 10-K年報、Form 10-Q季報和Form 8-K現狀報告不時對此等內容的更新,以及公司向美國證券交易委員會遞交的其他文件。此外,前瞻性陳述僅代表本新聞稿發佈之日Rimini Street的預期、計畫或對未來事件的預測和觀點。Rimini Street預期後續事件和發展將導致Rimini Street的評估發生變化。然而,儘管Rimini Street可能會在未來某個時間點選擇更新這些前瞻性陳述,但Rimini Street特別聲明,除法律規定之外,公司沒有這方面義務。這些前瞻性陳述不應被視為代表Rimini Street在本新聞稿發佈之日後任何日期的觀點。

# # #

© 2019 Rimini Street, Inc.版權所有。"Rimini Street"是Rimini Street, Inc.在美國和其他國家的註冊商標,Rimini Street、Rimini Street標誌和兩者之間的任意組合,以及其他帶有TM標記的標誌,均為Rimini Street, Inc.的商標。所有其他商標仍是其各自所有者的財產。除非另行說明,Rimini Street與此類商標所有者或本新聞稿中所提到的其他公司沒有任何從屬、代言或結盟關係。

Q3 Earning1 2019

Q3 Earning2 2019

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 related recoveries, net, and stock-based compensation expense. The exclusions are discussed in further detail below.

Non-GAAP Net Income (Loss) is net income (loss) adjusted to exclude: litigation costs and related recoveries, net, post-judgment interest in litigation awards, write-off of deferred debt financing costs, extinguishment charges upon payoff of credit facility, stock-based compensation expense, and 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 Related 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 in litigation awards: 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. 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 (loss) adjusted to exclude: interest expense, income tax expense, and depreciation and amortization expense.

Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and related recoveries, net, write-off of deferred debt financing costs, post-judgment interest in litigation awards, write-off of deferred debt financing costs, stock-based compensation expense, gain from change in fair value of embedded derivatives, and other debt financing expenses, as discussed above.

Investor Relations Contact:
Dean Pohl
Rimini Street, Inc.
+1 203 347-4446
dpohl@riministreet.com

Media Relations Contact:
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com