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 (NASDAQ: RMNI) reported its Q4 and full-year 2024 financial results. Q4 revenue reached $114.2 million, up 1.9% year-over-year, with improved gross margin of 63.7% compared to 61.0% in the prior year. International revenue grew 10.5% to $61.1 million, while U.S. revenue declined 6.5% to $53.1 million.
The company maintained a strong subscription-based model with 95.5% of revenue from subscriptions. Active clients increased 1.4% to 3,081, though revenue retention rate decreased to 88%. Q4 operating income was $14.9 million with net income of $6.7 million.
For full-year 2024, revenue slightly decreased 0.6% to $428.8 million, with a gross margin of 60.9%. The company reported a net loss of $36.3 million for 2024 compared to net income of $26.1 million in 2023. Notable developments include a new partnership with ServiceNow and expansion of Rimini Protect and Rimini Connect solutions.
Rimini Street (Nasdaq: RMNI) has announced a $100,000 RMNI LOVE Charitable Grant Giveaway to celebrate the 10th anniversary of its Rimini Street Foundation. The initiative will award ten $10,000 grants to registered charities in selected cities worldwide throughout 2025.
The Foundation, established in 2015, is a self-funded philanthropic program that has partnered with 550 global charitable organizations. The grant program follows the company's 'Follow-the-Sun' model, previously implemented in Las Vegas (2022), Tokyo (2023), and London (2024).
For the 2025 program, eligible charities from ten cities can apply: Denver, Houston, Kyoto, Manila, Melbourne, Paris, São Paulo, Seoul, Taipei, and Toronto. The application period runs from February 10 to March 9, 2025. The program is managed by a Global Steering Committee and governed by employees representing Rimini Street's diverse culture.
Rimini Street (Nasdaq: RMNI), a global provider of enterprise software support solutions and leading third-party support provider for Oracle, SAP, and VMware software, has announced its upcoming earnings release. The company will report its fourth quarter and fiscal year 2024 financial results after market close on February 27, 2025.
A conference call and webcast will be held on the same day at 5:00 p.m. Eastern / 2:00 p.m. Pacific time to discuss the results and provide the 2025 outlook. Investors can access the live webcast through Rimini Street's Investor Relations site or dial in at 1-800-836-8184. A replay of the webcast will be available for one year after the event.
Rimini Street (Nasdaq: RMNI) has announced the general availability of Rimini Protect™ Advanced Hypervisor Security (AHS), powered by Vali Cyber® AI/ML security technology. The solution is designed to protect VMware ESXi, Nutanix, and all Linux-based hypervisors against ransomware and security vulnerabilities.
The announcement comes amid rising ransomware attacks, with victim numbers increasing 43% from Q3 to Q4 2024 and 47% year-over-year. Ransomware payments have surged from $199,000 in early 2023 to $1.5 million in June 2024.
Key features of Rimini Protect AHS include AI/ML technology for runtime protection, Multi-Factor Authentication (MFA), and Process Control to prevent attacks from escaping designated environments. The solution is supported by Rimini Street's Global Security Services team, available 24/7/365.
Rimini Street (NASDAQ: RMNI), a leading third-party software support provider for Oracle, SAP, and VMware, has received multiple industry awards highlighting its service excellence and client satisfaction. The company won the Trust Radius 2025 Buyer's Choice Award based on customer reviews in capabilities, value, and customer relationship.
The company also secured a Silver Globee Award for Customer Service Department of the Year and a Gold Globee Award for Customer Service Executive of the Year, with Craig Mackereth recognized for improving client satisfaction and response rates. Rimini Street's AI-powered tools enable 23% faster issue resolution with sub-two-minute response averages.
Additionally, Rimini Street received a Gold Merit Award in the Consulting Category for Technology, particularly noted for its VMware support services launched in May 2024 in response to challenges arising from Broadcom's VMware acquisition.
A new survey conducted by Rimini Street (NASDAQ: RMNI) in Q3 2024 reveals significant insights into VMware customers' perspectives following Broadcom's acquisition. The study, which surveyed over 110 VMware customers, shows that 79% are satisfied with their current perpetual licenses, and 99% would consider continuing to use their current software if support was available.
Key findings indicate that 98% of respondents are exploring VMware alternatives for at least part of their infrastructure, while 92% expect price increases within 18 months. The survey also highlights that 71% of respondents see cloud-native solutions as the primary influence on the hypervisor market, with 70% citing AI as a major impact.
Rimini Street (Nasdaq: RMNI) has launched Rimini Connect™ Console, a centralized management tool for its interoperability solutions suite. The console provides single-pane-of-glass configuration and monitoring capabilities, initially available for Rimini Connect™ for Browsers. Key features include simplified monitoring, real-time deployment visibility, in-depth log analysis, and streamlined administration tasks. The solution helps organizations avoid costly upgrades while maintaining compatibility with modern technology stacks.
The announcement highlights Officeworks, an Australian retailer, as a success case, where Rimini Connect for Browsers enabled seamless transition during Microsoft's Internet Explorer 11 retirement without business interruption.
Gunung Raja Paksi (GRP), a leading Indonesian private steel manufacturer, has selected Rimini Support™ for S/4HANA to support its mission-critical systems. The partnership enables GRP to fund and staff its smart factory project as part of Industry 4.0 initiatives. The company benefits from 50% savings on annual support fees and up to 90% on total support costs, with 24/7 support including 10-minute response time guarantees for priority cases. GRP utilizes SAP as its backbone system for data collection, which feeds into AI systems for analytical reporting and strategic decision-making.
Rimini Street (Nasdaq: RMNI) has expanded its database security services with the enhanced Rimini Protect™ Advanced Database Security Suite (ADSS). The suite builds upon their Advanced Database Security solution, offering new modules including Database Assessment, Database Discovery, Custom Rules, and a planned Security Rule SDK for 2025. The expanded capabilities provide over 7,000 security verifications, compliance benchmarks, and protection against zero-day threats for Oracle, SAP, IBM, PostgreSQL, and other databases. Ricoh Company reports significant cost savings and enhanced security through implementing Rimini Street's services for their Oracle Database.
Rimini Street (NASDAQ: RMNI) reported Q3 2024 financial results with revenue of $104.7 million, down 2.6% year-over-year. The company posted a net loss of $43.1 million compared to net income of $6.8 million in the same period last year. Key metrics include gross margin of 60.7%, subscription revenue of $100.4 million (95.9% of total revenue), and Active Clients of 3,097. The company announced plans to wind down Oracle PeopleSoft services, which accounted for approximately 8% of revenue in the first nine months of 2024. Due to ongoing litigation with Oracle, Rimini Street has suspended guidance.
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