Welcome to our dedicated page for Rimini Street news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street stock.
Rimini Street, Inc. (Nasdaq: RMNI) regularly issues news about its role as a global provider of enterprise software support, managed services and Agentic AI ERP solutions. The RMNI news feed highlights how the company serves as a third-party support provider for Oracle, SAP and VMware software and how its offerings are applied in real client environments across industries and regions.
Investors and technology professionals following Rimini Street news can read about client engagements where organizations switch to Rimini Support™ for SAP ECC or Oracle ERP systems, adopt Rimini Connect™ interoperability solutions or engage Rimini Consult™ for ERP strategy and modernization projects. Recent releases describe work with companies such as SP Electricity North West, Tidewater and Silicon Labs, focusing on themes like cost savings, improved system stability, security, single sign-on capabilities and reduced technical debt.
RMNI news also covers the company’s Agentic AI ERP initiatives, including the launch of Rimini Agentic UX™, an AI-driven user engagement layer for ERP processes, and the publication of the white paper "The Rise of Agentic AI ERP." These announcements explain how Rimini Street positions Agentic AI ERP as a way to orchestrate business processes across composable ERP platforms without disruptive upgrades, and how clients are using these capabilities to accelerate innovation.
In addition, Rimini Street news releases report on quarterly financial and operating results, stock repurchase activity, investor conferences and investor day events, as well as legal and regulatory developments such as the settlement agreement with Oracle. For anyone tracking RMNI, the news stream offers insight into the company’s client wins, product developments, strategic partnerships and financial disclosures over time.
Rimini Street, Inc. (NASDAQ: RMNI) has partnered with France-based Labeyrie Fine Foods to enhance its Oracle JD Edwards and Database support. This collaboration aims to improve cost efficiencies, allowing Labeyrie to accelerate cloud migration. Labeyrie reported significant operational value and savings, as Rimini's services are offered at half the previous cost. The partnership aligns with Rimini's goal to reach $1B in annual revenue by 2026, demonstrating its commitment to helping clients effectively navigate digital transformation and competitive challenges.
International Container Terminal Services, Inc. (ICTSI) has chosen Rimini Street (NASDAQ: RMNI) for SAP software support, aiming to optimize its ERP investments. This partnership is set to save ICTSI 50% in annual support fees, allowing them to redirect resources towards innovation and growth. Rimini Street's support will enhance critical functions like financials and asset tracking. ICTSI, a major player in global port operations, will leverage Rimini Street's advanced services to prepare for future ERP needs, ensuring alignment with emerging market requirements.
Rimini Street, Inc. (Nasdaq: RMNI) has appointed Kevin N. Hooper as group vice president and regional general manager for the Americas Central Region. Hooper, a veteran with over 20 years of leadership experience from companies like Lenovo and Oracle, will oversee marketing, sales, and service delivery in the region. The appointment aligns with Rimini Street's goal to achieve $1 Billion in annual revenue by 2026, focusing on leveraging Hooper's expertise to accelerate sales growth and improve client services.
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Rimini Street, Inc. (Nasdaq: RMNI) reported a strong fourth quarter and full-year 2021, achieving record revenues of $99.3 million, up 13.0% year-over-year, and $374.4 million for the fiscal year, an increase of 14.6%. The gross margin improved to 63.6%, while net income soared to $70.1 million for Q4, compared to $2.5 million in the prior year. The company ended the year with record cash of $119.6 million and a new stock repurchase plan of up to $15 million. Guidance for Q1 2022 revenue is set between $95.0 million and $96.0 million, with annual guidance of $400 million to $410 million.
Rimini Street, Inc. (Nasdaq: RMNI) announced a stock repurchase plan of up to $15 million over the next two years, backed by a record cash balance of $119.6 million as of December 31, 2021. This decision follows significant capital market transactions that reduced debt and improved cash flow. The company aims to enhance shareholder value while continuing to invest in growth initiatives. CEO Seth A. Ravin emphasized the strong operating cash flow allows for this dual approach of investing in growth and returning capital to shareholders.
Rimini Street (NASDAQ: RMNI) has reorganized its operations by combining North America and Latin America into a unified Americas Theatre, aimed at enhancing client experience and operational efficiency. The company appointed Emmanuel Richard as the senior vice president and general manager of the new theatre. This restructuring is expected to eliminate redundancies, improve service delivery, and capitalize on growth opportunities, given that these regions contribute significantly to Rimini Street’s revenue. The company maintains a client satisfaction rate of 4.9 out of 5.0.
Rimini Street has appointed Jeff Spicer as executive vice president and chief marketing officer. Spicer, a marketing veteran with over 20 years of experience, will oversee the company's global marketing strategy, aiming to bolster its client-centric services as it targets $1 billion in annual revenue by 2026. He previously held significant marketing roles at IBM, VMWare, and Yellowbrick Data. His appointment is seen as a strategic move to enhance brand management and drive demand generation in a market with a total addressable market exceeding $200 billion.
Rimini Street, Inc. (Nasdaq: RMNI) will announce its earnings for the fourth quarter and fiscal year 2021 on March 2, 2022, after market close. The company will host a conference call at 5:00 p.m. Eastern / 2:00 p.m. Pacific to discuss the results and provide an outlook for 2022. The event will be accessible via a live webcast on their Investor Relations website. Rimini Street is recognized as a leading third-party support provider for Oracle and SAP software, serving over 4,400 organizations, including Fortune 500 companies.
Rimini Street (Nasdaq: RMNI) announced that BreastScreen Victoria, a principal breast cancer screening organization in Australia, has transitioned to Rimini Street Support for its Oracle Database software. This switch has enabled BreastScreen Victoria to release internal IT resources, alleviating the need for staffing increases due to rising service demands, while significantly reducing annual support costs. With enhanced local support, the organization can now concentrate on strategic projects, such as data center migration.