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Rimini Street, Inc. reports developments tied to its enterprise software support, managed services and Agentic AI ERP innovation solutions. The company provides third-party support for Oracle, SAP and VMware software, with customer updates often centered on Rimini Support for SAP or Oracle, VMware support, software-roadmap flexibility, security, compliance readiness and IT cost management.
Recurring updates also cover quarterly financial results, recurring revenue measures, remaining performance obligations, customer contracts across global commercial and public-sector organizations, investor conferences, credit agreement changes, debt reduction and common share repurchase capacity.
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Rimini Street (Nasdaq: RMNI) announced that quantiQ, a leading Brazilian chemical distributor, has switched to Rimini Street Support for SAP S/4HANA, resulting in a 75% cost saving on support. This financial relief will enable quantiQ to invest in innovations like a new customer portal and automated processes to enhance operational efficiency. Rimini Street's support promises enhanced service quality and faster response times, thus positioning quantiQ as a leader in digital transformation within its industry.
Rimini Street (Nasdaq: RMNI) announced that IATA, the commercial aviation trade association, has opted for Rimini Street's support and Application Management Services for its SAP applications. This strategic move aims to enhance IATA's IT service delivery, reduce costs, and improve operational scalability as the aviation sector recovers from the COVID-19 pandemic. IATA's IT director highlighted the swift and seamless onboarding process, noting immediate improvements in support and management, demonstrating trust in Rimini Street’s capabilities to meet evolving business demands.
Rimini Street, Inc. (Nasdaq: RMNI) has achieved the Great Place to Work-Certified™ designation for its India operations, with 94% employee approval citing a high-trust culture. Employees assessed the company through the Trust Index© survey and praised engagement initiatives including wellness programs and career growth opportunities. The certification highlights Rimini Street's commitment to fostering an inclusive and positive workplace. With over 400 employees in India, the company delivers exceptional client support, maintaining a 4.9/5.0 client satisfaction rating.
Rimini Street, Inc. (Nasdaq: RMNI) reported first-quarter financial results for 2021, achieving a record revenue of $87.9 million, up 12.6% year-over-year. The active client count reached 2,550, a 22.8% increase year-over-year, with strong billings growth of 24.2%. Despite this growth, the company reported a net loss of $3.6 million compared to a net income of $2.5 million in the previous year. Cash on hand was a record $153 million, and the company reaffirmed its full-year guidance of $370 million to $380 million in revenue.
Rimini Street (Nasdaq: RMNI), a global leader in enterprise software support, announced that CEO Seth A. Ravin and CFO Michael L. Perica will participate in a fireside chat with analyst Derrick Wood from Cowen on June 3, 2021, at 12:30 PM ET. The event will be streamed live at wsw.com and on Rimini Street’s Investor Relations site, which will archive the webcast for 90 days. Additionally, management is open for one-on-one meetings during the conference. Contact Rimini Street IR for scheduling.
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Rimini Street, Inc. (Nasdaq: RMNI) has rescheduled its financial results report for Q1 2021 from May 5 to May 10, 2021. The company will hold a conference call on May 10 at 5:00 p.m. Eastern time to discuss the results. Rimini Street is a leading third-party support provider for Oracle and SAP products, catering to over 4,000 organizations globally. The company provides integrated application management services, enabling significant cost savings for clients.
Rimini Street (Nasdaq: RMNI), a leading provider of enterprise software support, announced its executives, including CEO Seth A. Ravin, CFO Michael L. Perica, and VP of Investor Relations Dean Pohl, will hold investor meetings at upcoming conferences. Key dates include the Needham 16th Annual Technology & Media Conference on May 19, 2021, and the Craig-Hallum 18th Annual Institutional Investor Conference on June 2, 2021. Rimini Street serves over 4,000 organizations, helping them save on software costs and improve outcomes. For more information, visit Rimini Street.
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