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. 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.
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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Rimini Street (Nasdaq: RMNI) has successfully completed the buyback of 60,000 shares of Series A Preferred Stock valued at $60 million, for a total cash payout of $62.3 million, including $2.3 million in dividends. This buyback, part of an ongoing effort, has reduced the overall Series A Preferred obligation by approximately 46% over the past six months. The company aims to enhance its balance sheet and move toward a net cash position. The remaining Series A Preferred Stock has a liquidation value of approximately $88 million, with future options for redemption and conversion into common stock.
Rimini Street, Inc. (Nasdaq: RMNI), a leader in enterprise software support, will announce its first-quarter earnings on May 5, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 5:00 p.m. Eastern / 2:00 p.m. Pacific time. The live webcast will be accessible via the company’s Investor Relations site. Rimini Street has established itself as a trusted provider, serving over 4,000 organizations, including Fortune 500 companies, by offering premium application management and support services that drive cost savings and improve business outcomes.
Rimini Street (Nasdaq: RMNI) responded to a court ruling affirming that third-party support for Oracle's software is allowed. On March 31, 2021, the court clarified that Rimini Street can continue providing support services and found no infringement related to their support tools. While some minor violations of a prior injunction were noted, these occurred before it was in place. The court also dismissed Oracle's motions for sanctions against Rimini Street. CEO Seth Ravin highlighted Rimini's significant cost savings of over $5 billion for clients and a 23% CAGR over five years despite ongoing litigation.