Rimini Street Stock Price, News & Analysis

Rimini Street, Inc. (Nasdaq: RMNI) announced an underwritten public offering of its common stock, subject to market conditions. The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares. Proceeds will be used for general corporate purposes, including potential financing transactions that reduce cost of capital. The offering is made under previously filed shelf registration statements with the SEC. Craig-Hallum Capital Group serves as the sole book-running manager.

Rimini Street (Nasdaq: RMNI), a leading provider of third-party support for Oracle and SAP software, announces that Kent County Council in England has switched its support for Oracle E-Business Suite 12.1 and Oracle Database software to Rimini Street. This decision aims to deliver efficiencies amidst budget constraints while allowing the County to utilize existing software for at least 15 more years. The collaboration promises high-quality service and expert guidance, enabling Kent County Council to modernize its systems without forced upgrades during ongoing pandemic challenges.

Rimini Street (Nasdaq: RMNI) reported strong financial results for Q4 and FY 2020, achieving a 15.4% increase in quarterly revenue to $87.8 million and a 16.3% growth for the year to $326.8 million. The company maintained a Revenue Retention Rate of over 90% and generated $42.1 million in operating cash flow, a 107% year-over-year improvement. With record cash of $87.6 million at year-end, Rimini continues to invest in leadership additions and innovative support solutions, targeting $1 billion in annual revenue by 2026.

Rimini Street (Nasdaq: RMNI) announces participation in the Virtual 33rd Annual Roth Conference, scheduled for March 15-17, 2021. The conference will feature one-on-one meetings with CEO Seth A. Ravin, CFO Michael L. Perica, and VP of Investor Relations Dean Pohl. Interested parties can arrange meetings through Roth salespeople or by contacting Rimini Street's investor relations at IR@riministreet.com. Rimini Street is a leading provider of enterprise software support and a partner for Salesforce.

More than 3,700 organizations globally rely on Rimini Street's services.

Rimini Street (Nasdaq: RMNI) has partnered with Poplar Co., Ltd., a national convenience store chain in Japan, to provide support for its SAP BusinessObjects and Sybase IQ Database software. This transition aims to enhance business continuity amidst pandemic challenges, reduce costs, and bolster digital initiatives for improved productivity. The deal offers Poplar a minimum of 15 years of support without mandatory upgrades. Rimini Street's responsive support includes quick response times to critical issues, thus enabling Poplar to focus on strategic business growth.

Rimini Street (Nasdaq: RMNI) has announced its approval as a supplier on the New Zealand Government Marketplace via a Collaborative Marketplace Agreement. This status allows government agencies greater ease in procuring Rimini Street's enterprise software support services for Oracle, SAP, and Salesforce, without lengthy negotiations. The new agreement could lead to substantial savings across all levels of New Zealand's government. Rimini Street already serves several agencies and aims to optimize IT spending while providing premium support with rapid response times and extended software support guarantees.

Rimini Street, Inc. (Nasdaq: RMNI), a prominent provider of enterprise software support, announced that Ampol Limited, Australia's top transport fuels provider, has transitioned to Rimini Street Support for its SAP ECC 6.0 and Business Objects applications. This switch has resulted in reduced annual support fees and allowed Ampol to defer costly migrations to SAP S/4HANA. The partnership aims to enhance efficiency and allocate savings towards strategic business initiatives. Rimini Street offers an impressive Service Level Agreement with quick response times, aiming to optimize operational costs for clients like Ampol.

Rimini Street, Inc. (Nasdaq: RMNI) announced it will report its earnings post-market on March 3, 2021, covering the fourth quarter and full year of 2020. A conference call and webcast will be hosted at 5:00 p.m. Eastern Time, enabling stakeholders to discuss results in detail. The company, a leader in third-party support for Oracle and SAP software products, has serviced over 3,700 organizations globally, delivering integrated application management and support services aimed at cost savings and enhanced business outcomes.