Rimini Street Stock Price, News & Analysis

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.

ServiceNow (NYSE: NOW) and Rimini Street (NASDAQ: RMNI) announced an expanded partnership to help organizations maximize value from existing ERP systems while enabling innovation. The partnership combines ServiceNow's AI Platform with Rimini Street's enterprise software support, offering an alternative to costly 'rip and replace' or limiting 'lift and shift' approaches. The solution includes the Now Platform for business transformation, Rimini Support for optimizing current software, and Rimini Manage for application management, promising significant savings and productivity gains in weeks rather than years.

Rimini Street (Nasdaq: RMNI), a global provider of enterprise software support and innovation solutions, has announced it will report third quarter 2024 earnings after market close on October 30, 2024. The company will host a conference call and webcast at 5:00 p.m. Eastern / 2:00 p.m. Pacific time to discuss the results and provide an outlook for the fourth quarter of 2024.

Investors can access the live webcast through Rimini Street's Investor Relations site or directly via the provided webcast link. For those preferring to dial in, the conference can be accessed by calling 1-800-836-8184. A replay of the webcast will be available for one year following the event.

Rimini Street, Inc. (Nasdaq: RMNI) announced that Mercury NZ has selected Rimini Support™ and Rimini Watch™ for SAP as part of its strategic move to achieve cost efficiencies and retain stability of its core IT systems. This decision comes after Mercury NZ's acquisition of the Trustpower retail business. Mercury NZ, a leading retailer of energy and telecommunications utility products in New Zealand, has been using SAP systems for nearly 20 years.

The partnership with Rimini Street has provided Mercury NZ with significant savings, allowing them to invest in platform modernization and innovation. Rimini Street's support has replaced SAP's Solution Manager, enabling Mercury NZ to monitor business processes, diagnose performance, and proactively mitigate issues. The company credits Rimini Street with providing peace of mind and assurance for their business continuity, praising the high-touch, responsive team of engineers who deliver outstanding support and collaborate with other vendors.

Rimini Street, Inc. (Nasdaq: RMNI) announced that Standard Foods has selected Rimini Support™ for SAP. This partnership has enabled Standard Foods to achieve significant cost savings, improve support quality for its SAP systems, and reallocate IT resources towards projects driving profitability and growth. Jerry Lee, IT director at Standard Foods, highlighted that Rimini Street halved their annual support costs and improved SAP system performance.

The partnership allows Standard Foods to focus on data initiatives, including AI and machine learning projects for supply chain optimization. By integrating AI with real-time data, the company has enhanced decision-making across its supply chain. The flexibility provided by Rimini Street also alleviates pressure to upgrade to S/4HANA, as Standard Foods now has full control of its IT roadmap.

Rimini Street, Inc. (Nasdaq: RMNI) announces successful global adoption of its VMware support, security and consulting services by clients across four continents. The company's VMware clients are experiencing improved service levels and peace-of-mind as they extend the life and value of their VMware perpetual licenses. This comes in response to Broadcom's acquisition of VMware and subsequent changes to licensing models, including a sudden transition to subscription-based licensing and forced bundling of products.

Rimini Street's VMware services, launched in May 2024, have quickly gained traction across multiple industries. Clients are selecting Rimini Street to avoid significant price increases and gain time to assess options. Alcatel-Lucent Enterprise, a leading provider of networking and communication solutions, has praised Rimini Street's VMware support experience as 'the best we've ever had'.

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software support, has been recognized as a top employer in multiple regions. Rimini Street India was named one of the Best Workplaces™ for Millennials 2024, while Rimini Street Australia was honored as a Great Place to Work® 2024.

The company has received several accolades for its workplace culture, including top rankings in India's Great Mid-Size Workplaces and Best Workplaces™ in IT & IT-BPM categories. Employees in Australia highlighted the welcoming atmosphere, physical safety, fair treatment, and desire for long-term employment at Rimini Street.

Brian Almas, SVP of HR, emphasized the company's culture of extraordinary, while Megh Risaldar, VP of HR for India, highlighted the nurturing environment. The recognitions reflect Rimini Street's commitment to fostering a positive workplace culture and supporting employee growth across its global operations.

Rimini Street, Inc. (Nasdaq: RMNI) has been awarded the 2024 Tech Cares Award by TrustRadius, recognizing its commitment to corporate social responsibility and community impact. The award honors B2B technology organizations excelling in areas such as sustainability, volunteerism, diversity, equity and inclusion, and community support.

The Rimini Street Foundation, established in 2015, has been instrumental in the company's mission to 'Support Humankind.' Recent activities include:

• Packing hygiene kits for human trafficking survivors
• Sorting clothes for flood-affected families in Brazil
• Hosting a STEM day for students and adults with cerebral palsy in Indonesia

Janet Ravin, founder and committee chair of the Rimini Street Foundation, emphasized that as the company grows, so will its opportunities to give back to the community.