Rimini Street (NASDAQ: RMNI) posts modest Q1 2026 growth, lower margins
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Rimini Street reported fiscal first quarter 2026 revenue of $105.5 million, up 1.2% year over year, with 95% coming from subscription revenue. Growth was stronger outside the U.S., where international revenue rose 8.3% while U.S. revenue declined 6.4%.
Profitability softened: gross margin fell to 59.0% from 61.0%, operating income declined to $4.8 million from $9.4 million, and net income decreased to $1.4 million from $3.4 million, or $0.01 per diluted share versus $0.04 a year earlier. Adjusted EBITDA dropped to $8.9 million from $15.7 million.
Key forward indicators were stronger. Calculated billings grew 19.9% to $95.3 million, and Remaining Performance Obligations increased 16.4% to $643.6 million, with Adjusted RPO at $633.2 million. The company ended March 31, 2026 with $132.2 million in cash and cash equivalents, prepaid $10.0 million of debt to reduce its term loan to $58.4 million, and guided second quarter 2026 revenue to $106–$108 million while reiterating full-year 2026 targets of 4–6% revenue growth and 12.5–15.5% Adjusted EBITDA margins.
Positive
- Strong forward indicators: Remaining Performance Obligations rose 16.4% year over year to $643.6 million, and Adjusted RPO reached $633.2 million, signaling a larger contracted revenue base.
- Improving billings and cash: Calculated Billings grew 19.9% to $95.3 million, Adjusted Calculated Billings rose 22.9% to $92.2 million, and cash and cash equivalents increased to $132.2 million.
- Debt reduction: The company voluntarily prepaid $10.0 million of debt, lowering its term loan outstanding to $58.4 million and increasing net cash to $73.8 million as of March 31, 2026.
Negative
- Margin and earnings pressure: Gross margin declined from 61.0% to 59.0%, operating income fell from $9.4 million to $4.8 million, and net income dropped from $3.4 million to $1.4 million year over year.
- Lower non-GAAP profitability: Non-GAAP operating income decreased from $14.5 million to $7.9 million, and Adjusted EBITDA declined from $15.7 million to $8.9 million compared with the prior-year quarter.
- Sluggish top-line growth overall: Total revenue grew only 1.2% year over year to $105.5 million, with U.S. revenue down 6.4% despite stronger international performance.
Insights
Top-line growth was modest, but billings and backlog strengthened while margins compressed.
Rimini Street delivered Q1 2026 revenue of $105.5M, up 1.2% year over year, with subscription revenue at $100.2M and 95.0% of total. International revenue grew 8.3%, offsetting a 6.4% decline in U.S. revenue, partly reflecting the wind down of Oracle PeopleSoft support services.
Profitability weakened despite higher revenue. Gross margin slipped to 59.0%, operating income fell to $4.8M, and net income dropped to $1.4M. Non-GAAP metrics followed the same pattern, with non-GAAP operating income at $7.9M and Adjusted EBITDA at $8.9M, both down versus the prior year as sales and marketing and R&D spending increased.
Leading indicators were more robust. Calculated Billings rose 19.9% to $95.3M, and Remaining Performance Obligations reached $643.6M, up 16.4%, with Adjusted RPO at $633.2M. The company improved its balance sheet by ending the quarter with $132.2M in cash and cash equivalents and voluntarily prepaying $10.0M of debt, reducing the term loan to $58.4M. Management guided Q2 2026 revenue to $106–$108M and reiterated full-year 2026 goals of 4–6% revenue growth and 12.5–15.5% Adjusted EBITDA margins, aiming to meet its Rule of 20 framework.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Revenue: $105.5M
Gross margin: 59.0%
Net income: $1.4M
+5 more
8 metrics
Revenue
$105.5M
Q1 2026, up 1.2% vs $104.2M in Q1 2025
Gross margin
59.0%
Q1 2026 vs 61.0% in Q1 2025
Net income
$1.4M
Q1 2026 vs $3.4M in Q1 2025
Adjusted EBITDA
$8.9M
Q1 2026 vs $15.7M in Q1 2025
Remaining Performance Obligations
$643.6M
As of March 31, 2026, up 16.4% vs March 31, 2025
Cash and cash equivalents
$132.2M
As of March 31, 2026 vs $122.6M as of March 31, 2025
Term loan outstanding
$58.4M
After $10.0M voluntary prepayment in Q1 2026
Calculated Billings
$95.3M
Q1 2026, up 19.9% vs $79.4M in Q1 2025
Key Terms
Adjusted EBITDA, Remaining Performance Obligations, Annualized Recurring Revenue, Revenue Retention Rate, +2 more
6 terms
Adjusted EBITDA financial
"Adjusted EBITDA for the first quarter of 2026 was $8.9 million compared to $15.7 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Remaining Performance Obligations financial
"Remaining Performance Obligations (RPO) was $643.6 million as of March 31, 2026"
Remaining performance obligations are the work a company still needs to complete for its customers, like finishing a service or delivering a product. It’s important because it shows how much future income the company has coming in from current agreements, giving a clearer picture of its ongoing business.
Annualized Recurring Revenue financial
"Annualized Recurring Revenue was $400.8 million for the first quarter of 2026"
Annualized recurring revenue is the predictable income a business expects to earn over a year from ongoing customer subscriptions or contracts. It’s similar to estimating how much money you would make in a year if your current monthly income stayed the same. Investors use this figure to assess the stability and growth potential of a company's revenue stream.
Revenue Retention Rate financial
"Revenue Retention Rate was 88% and 88% for the trailing 12 months ended March 31, 2026 and 2025"
Measure of how much income a company keeps from its existing customers over a set period (usually a month or year), after accounting for lost customers, reduced spending, and any extra spending by remaining customers. Investors use it to judge the predictability and health of recurring revenue—high retention is like a garden that keeps producing the same or more fruit each season, signaling steadier future cash flow and lower risk.
Rule of 20 financial
"Adjusted EBITDA margins in the 12.5% to 15.5% range (combined to achieve “Rule of 20”)"
A simple valuation guideline that says a stock market’s price-to-earnings ratio (P/E) plus the current inflation rate should total about 20; equivalently, a ‘fair’ P/E can be estimated as 20 minus inflation. It gives investors a quick check on whether stocks look expensive or cheap by adjusting earnings multiples for the impact of inflation—like comparing a sale price after tax to judge if you’re getting a reasonable deal.
Adjusted Calculated Billings financial
"Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $92.2 million"
Adjusted calculated billings is a company-specific measure of the amount invoiced to customers during a period after removing or normalizing items such as refunds, discounts, cancellations, foreign‑exchange effects and other one‑time adjustments. Investors use it as a way to gauge the pace of a business’s sales and near-term cash inflows beyond official revenue numbers — like checking how many orders were written down on a receipt rather than what was recorded as final sales.
Earnings Snapshot
Revenue: $105.5M · Guidance included
Q1 2026
Revenue
$105.5M
vs $104.2M in Q1 2025
Gross margin
59.0%
vs 61.0% in Q1 2025
Operating income
$4.8M
vs $9.4M in Q1 2025
Net income
$1.4M
vs $3.4M in Q1 2025
Adjusted EBITDA
$8.9M
vs $15.7M in Q1 2025
Remaining Performance Obligations
$643.6M
vs $553.1M as of March 31, 2025
Guidance
Q2 2026 revenue expected between $106M and $108M; full-year 2026 revenue growth of 4–6% with Adjusted EBITDA margins of 12.5–15.5%.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
| Date of Report (date of earliest event reported) | ||||||||
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
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Emerging growth company ☐
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| ITEM 2.02 | RESULTS OF OPERATIONS AND FINANCIAL CONDITION | ||||
On April 30, 2026, Rimini Street, Inc. (“we,” “us,” “our” or the “Company”) issued a press release announcing, among other things, our financial results for the first quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated in this Item 2.02 by reference.
The information presented in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, unless we specifically state that the information is to be considered “filed” under the Exchange Act or specifically incorporate it by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.
| ITEM 7.01 | REGULATION FD DISCLOSURE | ||||
Item 2.02 of this Current Report on Form 8-K is incorporated herein by reference. The information presented in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, unless we specifically state, as we do in the preceding paragraph, that the information is to be considered “filed” under the Exchange Act or specifically incorporate it by reference in any filing under the Securities Act or the Exchange Act.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS | ||||
(d) Exhibits.
Exhibit No. | Exhibit Title | ||||
99.1 | Press release dated April 30, 2026 announcing the Company’s results for the first quarter ended March 31, 2026 (Furnished Only) | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| RIMINI STREET, INC. | ||||||||
Dated: April 30, 2026 | By: | /s/ Seth A. Ravin | ||||||
| Name: Seth A. Ravin | ||||||||
| Title: President, Chief Executive Officer and Chairman of the Board | ||||||||
2
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 1 | ||||
Exhibit 99.1FOR IMMEDIATE RELEASE
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results
First Quarter Financial Highlights Include:
Remaining Performance Obligations (RPO) of $643.6 million, up 16.4% year over year
Adjusted Calculated Billings of $92.2 million, up 22.9% year over year
Adjusted Annualized Recurring Revenue (ARR) of $388.0 million, up 5.0% year over year
LAS VEGAS, April 30, 2026 – Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal first quarter ended March 31, 2026.
“Our first quarter results reflect continued growth and accelerating momentum in our core Rimini Support™ business as organizations turn to the proven Rimini Smart Path™ to execute their global ERP and operational transaction processes faster, better and cheaper with more agility and speed to value – all within existing budgets,” said Seth Ravin, president and CEO, Rimini Street. “We help organizations avoid unnecessary, costly and risky ERP and other enterprise software upgrades, migrations and replatformings that often deliver low ROI and little competitive advantage. Instead, organizations can invest in the modernization of their existing systems by leveraging next generation Rimini Agentic AI ERP solutions that can be quickly and economically deployed over their current ERP and other enterprise software to deliver real competitive advantage.”
“We delivered strong first quarter 2026 results that built on second half 2025 momentum, reflecting continued, growing market demand for our differentiated, proven support and innovation solutions,” said Michael Perica, CFO, Rimini Street. “We continued to make additional strategic investments in new AI and innovation offerings to drive growth and further streamlined global operations to provide leverage with scale. Looking ahead, we remain focused on profitable growth, disciplined cost management and a strong balance sheet and cash position. Capital allocation actions in the quarter included a $10 million debt prepayment that reduced outstanding debt to $58.4 million and increased net cash to $73.8 million as of March 31, 2026.”
Select First Quarter 2026 Financial Results
•Revenue was $105.5 million for the first quarter of 2026, an increase of 1.2% compared to $104.2 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, revenue increased by 5.2%.
•U.S. revenue was $46.9 million for the first quarter of 2026, a decrease of 6.4% compared to $50.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, U.S. revenue decreased by 0.3%.
•International revenue was $58.6 million for the first quarter of 2026, an increase of 8.3% compared to $54.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, international revenue increased by 9.9%.
•Subscription revenue was $100.2 million, which accounted for 95.0% of total revenue for the first quarter of 2026, compared to subscription revenue of $99.0 million, which accounted for 95.0% of total revenue for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, subscription revenue was $97.0 million, or 94.9% of total revenue, for the first quarter of 2026 compared to $92.4 million, or 95.0% of total revenue, for the same period last year.
•Annualized Recurring Revenue was $400.8 million for the first quarter of 2026, an increase of 1.2% compared to $396.2 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, Adjusted Annualized Recurring Revenue was $388.0 million for the first quarter of 2026, an increase of 5.0% compared to $369.6 million for the same period last year.
•Active Clients as of March 31, 2026 were 3,130, an increase of 1.2% compared to 3,092 Active Clients as of March 31, 2025.
•Revenue Retention Rate was 88% and 88% for the trailing 12 months ended March 31, 2026 and 2025, respectively.
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 2 | ||||
•Calculated Billings was $95.3 million for the first quarter of 2026, an increase of 19.9% compared to $79.4 million for the same period last year.
•Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $92.2 million for the first quarter of 2026, an increase of 22.9% compared to $75.0 million for the same period last year.
•Remaining Performance Obligations (RPO) was $643.6 million as of March 31, 2026, an increase of 16.4% compared to $553.1 million as of March 31, 2025; excluding the support services for Oracle’s PeopleSoft software products, Adjusted RPO was $633.2 million as of March 31, 2026, an increase of 18.2% compared to $535.8 million as of March 31, 2025.
•Gross margin was 59.0% for the first quarter of 2026 compared to 61.0% for the same period last year.
•Operating income was $4.8 million for the first quarter of 2026 compared to $9.4 million for the same period last year.
•Non-GAAP Operating Income was $7.9 million for the first quarter of 2026 compared to $14.5 million for the same period last year.
•Net income was $1.4 million for the first quarter of 2026 compared to $3.4 million for the same period last year.
•Non-GAAP Net Income was $4.0 million for the first quarter of 2026 compared to $9.5 million for the same period last year.
•Adjusted EBITDA for the first quarter of 2026 was $8.9 million compared to $15.7 million for the same period last year.
•Both the basic and diluted earnings per share attributable to common stockholders were $0.01 for the first quarter of 2026, compared to a basic and diluted earnings per share of $0.04 for the same period last year.
•Cash and cash equivalents were $132.2 million at March 31, 2026 compared to $122.6 million at March 31, 2025.
•Voluntary debt prepayment of $10.0 million during the first quarter, reducing the term loan outstanding to $58.4 million.
Select First Quarter 2026 Operating Results
•Announced new and existing clients that expanded their agreements with Rimini Street, including the following:
◦LF, a leading South Korean lifestyle company, selected Rimini Support™ for SAP ECC 6.0 and Oracle Database to reduce maintenance costs, improve support quality and stability, and reinvest savings in AI-driven automation and digital transformation.
◦Cubic Corporation, a U.S. based global innovation technology partner for the defense and transportation industries, partnered with Rimini Street to support its strategy to modernize while maintaining SAP ECC as a stable core.
◦KleanNara, a leading South Korean manufacturer of paper and hygiene products, selected Rimini Support™ for its SAP ECC 6.0 and Oracle Database systems, freeing up funds and team focus for AI-driven innovation and growth.
◦Flexitech, a French manufacturer for the global automobile industry, selected Rimini Support™ for SAP to strengthen security, accelerate compliance readiness and free budget for R&D and modernization initiatives.
◦Lwart Environmental Solutions, a world leading Brazilian re-refinery and industrial sustainability organization, expanded its long-time partnership with Rimini Street by consolidating support for VMware and SAP support to regain control of its licensing and roadmap decisions, eliminating vendor-driven timelines and cost escalation.
◦Lotte Rental, South Korea’s top car rental company, selected Rimini Support™ for its SAP and Oracle systems, using the resulting savings to invest in AI, mobility services and cloud capabilities.
•Resolved more than 6,800 support cases and delivered over 11,000 tax, legal, and regulatory updates across 23 countries, achieving an average client satisfaction score of 4.9 out of 5.0 (where 5.0 is rated excellent).
•Received multiple industry Stevie® Awards for Best Use of AI in Customer Service, Front-Line Customer Service Team of the Year in the Technology Industry and Best Customer Satisfaction Strategy.
Business Outlook
The Company is providing second quarter 2026 revenue guidance to be in the range of $106 million to $108 million and reiterating the full year 2026 guidance provided at our Investor Day in December 2025 of revenue growth in the 4% to 6% range and Adjusted EBITDA margins in the 12.5% to 15.5% range (combined to achieve “Rule of 20”).
Webcast and Conference Call Information
Rimini Street will host a conference call and webcast to discuss the first quarter of 2026 results and offer commentary on full year 2026 at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on April 30, 2026. A live webcast of the event will be available on Rimini Street’s Investor Relations site at Rimini Street IR events link and directly via the webcast link. Dial-in participants
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 3 | ||||
can access the conference call by dialing 1-800-836-8184. A replay of the webcast will be available for one year following the event.
Company’s Use of Non-GAAP Financial Measures
This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP.
Reconciliations of the non-GAAP financial measures included in this press release and described below to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures, why we believe they are meaningful and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a proven, trusted global provider of end-to-end, mission-critical enterprise software support, managed services and innovative Agentic AI ERP solutions, and is the leading third-party support provider for Oracle, SAP and VMware software. The Company has signed thousands of IT service contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who have leveraged the Rimini Smart Path™ methodology to achieve better operational outcomes, billions of US dollars in savings and fund AI and other innovation.
To learn more, please visit www.riministreet.com, and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn.
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “currently,” “estimate,” “expect,” “forecast,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “goal,” “potential,” “predict,” “project,” “reflect,” “results,” “seem,” “seek,” “should,” “will,” “would” and other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to our ability to attract new clients or retain and/or sell additional products or services to existing clients; our ability to achieve and maintain an adequate rate of revenue growth; cost of revenue, including changes in costs associated with our efforts to grow and the results of any efforts to manage costs to align with current revenue expectations and the expansion of our offerings; the effects of increased intense competition in our industry and our ability to compete effectively; our ability to successfully educate the market regarding the advantages of our support and managed services for ERP software and to sell the products and services comprising our “Rimini Smart Path™” solutions portfolio, including but not limited to our Agentic AI ERP solutions; our intentions with respect to our pricing model and expectations of client savings relative to use of other providers; the evolution of the ERP software management and support landscape facing our clients and prospects; estimates of our total addressable market; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor-supplied software support and managed services; the effects of the efforts of enterprise software vendors to sell upgrades or migrations to cloud-based versions of their enterprise software on our results of operations; our ability to scale our operations quickly enough to meet our clients’ changing needs or decrease our costs adequately in response to changing client demand; risks arising from incorporating artificial intelligence (“AI”) technologies into our products or services or any deficiencies associated with AI technologies used by us or by our third-party vendors and service providers; our ability to maintain, protect, and enhance our brand; the loss of one or more members of our management team and our ability to attract and retain additional qualified technical, sales and marketing personnel; our ability to expand our marketing and sales capabilities; our ability to avoid interruptions to, or degraded performance of, our services and the impact of any such interruptions or performance problems on our operations; our ability to defend against cybersecurity threats and to comply with data protection and privacy regulations; our expectations regarding new product offerings, innovation solutions, partnerships and alliance programs and our ability to develop and maintain strategic partnerships; our ability to expand internationally and the risks associated with global operations; our wind down of support services for Oracle’s PeopleSoft software products and the impact on future period revenue and costs incurred related to these efforts; the continuing impact of and our ability to comply with the terms of our July 2025 settlement agreement with Oracle; the impact of macro-economic trends, including inflation and changes in foreign
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 4 | ||||
exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; our ability to generate significant capital through our operations or to raise additional capital necessary to fund and expand our operations and invest in new services and products; our business plan and our ability to effectively secure and manage our growth and associated investments; risks relating to retention rates, including our ability to accurately predict retention rates; our ability to protect our intellectual property; our ability to maintain an effective system of internal control over financial reporting; changes in laws or regulations, including tax laws or unfavorable outcomes of tax positions we take; tariff costs, including those imposed by the United States government and the potential for retaliatory trade measures by affected countries; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance (“ESG”) matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the volatility of our stock price; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities/agencies; the occurrence of catastrophic events that may disrupt our business or that of our current and prospective clients; future acquisitions of, or investments in, complementary companies, products, subscriptions or technologies; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on April 30, 2026, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the U.S. Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
# # #
© 2026 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 5 | ||||
RIMINI STREET, INC.
Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
| ASSETS | March 31, 2026 | December 31, 2025 | |||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 132,189 | $ | 119,974 | |||||||
| Restricted cash, current | 342 | 341 | |||||||||
Accounts receivable, net of allowance of $1,783 and $1,443, respectively | 95,746 | 136,866 | |||||||||
| Deferred contract costs, current | 17,570 | 17,734 | |||||||||
| Prepaid expenses and other | 28,286 | 25,447 | |||||||||
| Total current assets | 274,133 | 300,362 | |||||||||
| Long-term assets: | |||||||||||
| Restricted cash, noncurrent | 784 | 785 | |||||||||
Property and equipment, net of accumulated depreciation and amortization of $23,952 and $23,822, respectively | 9,879 | 10,239 | |||||||||
| Operating lease right-of-use assets | 20,494 | 21,371 | |||||||||
| Deferred contract costs, noncurrent | 24,087 | 24,436 | |||||||||
| Deposits and other | 8,745 | 8,379 | |||||||||
| Deferred income taxes, net | 58,979 | 57,540 | |||||||||
| Total assets | $ | 397,101 | $ | 423,112 | |||||||
| LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | |||||||||||
| Current liabilities: | |||||||||||
| Current maturities of long-term debt | $ | — | $ | 4,031 | |||||||
| Accounts payable | 4,966 | 5,752 | |||||||||
| Accrued compensation, benefits and commissions | 33,747 | 39,609 | |||||||||
| Other accrued liabilities | 23,475 | 24,307 | |||||||||
| Operating lease liabilities, current | 4,815 | 4,984 | |||||||||
| Deferred revenue, current | 257,382 | 268,717 | |||||||||
| Total current liabilities | 324,385 | 347,400 | |||||||||
| Long-term liabilities: | |||||||||||
| Long-term debt, net of current maturities | 56,412 | 63,156 | |||||||||
| Deferred revenue, noncurrent | 19,947 | 18,824 | |||||||||
| Operating lease liabilities, noncurrent | 17,357 | 18,843 | |||||||||
| Other long-term liabilities | 1,566 | 1,918 | |||||||||
| Total liabilities | 419,667 | 450,141 | |||||||||
| Stockholders' deficit: | |||||||||||
Preferred Stock, $0.0001 par value per share. Authorized 99,820 shares (excluding 180 shares of Series A Preferred Stock); no other series has been designated | — | — | |||||||||
Common Stock, $0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 92,133 and 91,603 shares, respectively | 9 | 9 | |||||||||
| Additional paid-in capital | 184,073 | 181,075 | |||||||||
| Accumulated other comprehensive loss | (5,509) | (5,613) | |||||||||
| Accumulated deficit | (200,023) | (201,384) | |||||||||
| Treasury stock,, at cost, 137 and 137 shares, respectively | (1,116) | (1,116) | |||||||||
| Total stockholders' deficit | (22,566) | (27,029) | |||||||||
| Total liabilities and stockholders' deficit | $ | 397,101 | $ | 423,112 | |||||||
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 6 | ||||
RIMINI STREET, INC.
Unaudited Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
| Three Months Ended | |||||||||||
| March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Revenue | $ | 105,473 | $ | 104,204 | |||||||
| Cost of revenue | 43,208 | 40,670 | |||||||||
| Gross profit | 62,265 | 63,534 | |||||||||
| Operating expenses: | |||||||||||
| Sales and marketing | 38,636 | 34,255 | |||||||||
| General and administrative | 17,850 | 17,531 | |||||||||
| Reorganization costs | 407 | 462 | |||||||||
| Research and development | 571 | — | |||||||||
Litigation costs and related recoveries: | |||||||||||
Professional fees and other costs of litigation | — | 1,925 | |||||||||
Litigation costs and related recoveries, net | — | 1,925 | |||||||||
| Total operating expenses | 57,464 | 54,173 | |||||||||
| Operating income | 4,801 | 9,361 | |||||||||
| Non-operating income and (expenses): | |||||||||||
| Interest expense | (1,251) | (1,675) | |||||||||
| Other income (expenses), net | (1,240) | (77) | |||||||||
| Income before income taxes | 2,310 | 7,609 | |||||||||
| Income taxes | (949) | (4,259) | |||||||||
| Net income | $ | 1,361 | $ | 3,350 | |||||||
| Net income per share attributable to common stockholders: | |||||||||||
| Basic | $ | 0.01 | $ | 0.04 | |||||||
| Diluted | $ | 0.01 | $ | 0.04 | |||||||
| Weighted average number of shares of Common Stock outstanding: | |||||||||||
| Basic | 91,791 | 91,240 | |||||||||
| Diluted | 93,918 | 93,320 | |||||||||
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 7 | ||||
RIMINI STREET, INC.
GAAP to Non-GAAP Reconciliations
(In thousands)
| Three Months Ended | |||||||||||
| March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Non-GAAP operating income reconciliation: | |||||||||||
| Operating income | $ | 4,801 | $ | 9,361 | |||||||
| Non-GAAP adjustments: | |||||||||||
| Litigation costs and related recoveries, net | — | 1,925 | |||||||||
| Stock-based compensation expense | 2,661 | 2,702 | |||||||||
| Reorganization costs | 407 | 462 | |||||||||
| Non-GAAP operating income | $ | 7,869 | $ | 14,450 | |||||||
| Non-GAAP net income reconciliation: | |||||||||||
| Income before income taxes | $ | 2,310 | $ | 7,609 | |||||||
| Non-GAAP adjustments: | |||||||||||
| Litigation costs and related recoveries, net | — | 1,925 | |||||||||
| Stock-based compensation expense | 2,661 | 2,702 | |||||||||
| Reorganization costs | 407 | 462 | |||||||||
| Non-GAAP income taxes | (1,328) | (3,187) | |||||||||
| Non-GAAP net income | $ | 4,050 | $ | 9,511 | |||||||
| Non-GAAP Adjusted EBITDA reconciliation: | |||||||||||
| Net income | $ | 1,361 | $ | 3,350 | |||||||
| Non-GAAP adjustments: | |||||||||||
| Interest expense | 1,251 | 1,675 | |||||||||
| Income taxes | 949 | 4,259 | |||||||||
| Depreciation and amortization expense | 995 | 930 | |||||||||
| EBITDA | 4,556 | 10,214 | |||||||||
| Non-GAAP adjustments: | |||||||||||
| Litigation costs and related recoveries, net | — | 1,925 | |||||||||
| Stock-based compensation expense | 2,661 | 2,702 | |||||||||
| Reorganization costs | 407 | 462 | |||||||||
| Unrealized foreign exchange losses | 1,281 | 400 | |||||||||
| Adjusted EBITDA | $ | 8,905 | $ | 15,703 | |||||||
| Calculated Billings: | |||||||||||
| Revenue | $ | 105,473 | $ | 104,204 | |||||||
| Deferred revenue, current and noncurrent, end of the period | 277,329 | 256,423 | |||||||||
| Deferred revenue, current and noncurrent, beginning of the period | 287,541 | 281,197 | |||||||||
| Change in deferred revenue | (10,212) | (24,774) | |||||||||
| Calculated billings | 95,261 | 79,430 | |||||||||
| Less PeopleSoft calculated billings | (3,063) | (4,426) | |||||||||
| Adjusted calculated billings | $ | 92,198 | $ | 75,004 | |||||||
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 8 | ||||
RIMINI STREET, INC.
GAAP to Non-GAAP Reconciliations
(In thousands)
| Three Months Ended | ||||||||||||||
| March 31, | ||||||||||||||
| 2026 | 2025 | |||||||||||||
| Annualized recurring revenue | $ | 400,812 | $ | 396,156 | ||||||||||
| Less annualized PeopleSoft recurring revenue | 12,768 | 26,572 | ||||||||||||
| Adjusted annualized recurring revenue | $ | 388,044 | $ | 369,584 | ||||||||||
| March 31, 2026 | March 31, 2025 | |||||||||||||
| Remaining performance obligations | $ | 643,614 | $ | 553,070 | ||||||||||
| Less PeopleSoft remaining performance obligations | 10,399 | 17,257 | ||||||||||||
| Adjusted remaining performance obligations | $ | 633,215 | $ | 535,813 | ||||||||||
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 9 | ||||
About Non-GAAP Financial Measures and Certain Key Metrics
To provide investors and others with additional information regarding Rimini Street’s results, we have disclosed the following non-GAAP financial measures and certain key metrics. We have described below Active Clients, Annualized Recurring Revenue, Adjusted Annualized Recurring Revenue and Revenue Retention Rate, each of which is a key operational metric for our business. In addition, we have disclosed the following non-GAAP financial measures: non-GAAP operating income, non-GAAP net income, EBITDA, Adjusted EBITDA, Calculated Billings, Adjusted Calculated Billings, Remaining Performance Obligations and Adjusted Remaining Performance Obligations. In addition, we present certain financial metrics excluding our Oracle’s PeopleSoft software product offering to permit investors to see the operation of our continuing business, excluding reductions associated with the PeopleSoft wind down. Rimini Street has provided in the tables above a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. These non-GAAP financial measures are also described below.
The primary purpose of using non-GAAP measures is to provide supplemental information that management believes may prove useful to investors and to enable investors to evaluate our results in the same way management does. We also present the non-GAAP financial measures because we believe they assist investors in comparing our performance across reporting periods on a consistent basis, as well as comparing our results against the results of other companies, by excluding items that we do not believe are indicative of our core operating performance. Specifically, management uses these non-GAAP measures as measures of operating performance; to prepare our annual operating budget; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of our results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communications with our board of directors concerning our financial performance. Investors should be aware however, that not all companies define these non-GAAP measures consistently.
Active Client is a distinct entity that purchases our services to support a specific product, including a company, an educational or government institution, or a business unit of a company. For example, we count as two separate active clients when support for two different products is being provided to the same entity. We believe that our ability to expand our active clients is an indicator of the growth of our business, the success of our sales and marketing activities, and the value that our services bring to our clients.
Annualized Recurring Revenue is the amount of subscription revenue recognized during a fiscal quarter and multiplied by four. This gives us an indication of the revenue that can be earned in the following 12-month period from our existing client base, assuming no cancellations or price changes occur during that period. Subscription revenue excludes any non-recurring revenue, which has been insignificant to date.
Adjusted Annualized Recurring Revenue is annualized recurring revenue adjusted to exclude subscription revenue associated with services for Oracle’s PeopleSoft software products recognized during a fiscal quarter and multiplied by four.
Revenue Retention Rate is the actual subscription revenue (dollar-based) recognized over a 12-month period from customers that were clients on the day prior to the start of such 12-month period, divided by our Annualized Recurring Revenue as of the day prior to the start of the 12-month period.
Non-GAAP Operating Income is operating income adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs. The exclusions are discussed in further detail below.
Non-GAAP Income Taxes is the income tax effect adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs from income before income taxes.
Non-GAAP Net Income is net income adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs after taxes. These exclusions are discussed in further detail below.
Specifically, management excludes the following items from its non-GAAP financial measures, as applicable, for the periods presented:
Litigation Costs and Related Recoveries, Net: Litigation costs and the associated litigation settlement, insurance and appeal recoveries relate to outside costs of litigation activities. These costs and recoveries reflect the litigation we are involved with, and do not relate to the day-to-day operations or our core business of serving our clients.
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results | page 10 | ||||
Stock-Based Compensation Expense: Our compensation strategy includes the use of stock-based compensation to attract and retain employees. This strategy is principally aimed at aligning employee interests with those of our stockholders and to achieve long-term employee retention. As a result, stock-based compensation expense varies for reasons that are generally unrelated to operational decisions in any particular period.
Reorganization Costs: The costs consist primarily of severance costs associated with the Company's reorganization plan.
EBITDA is net income adjusted to exclude: interest expense, income taxes, and depreciation and amortization expense.
Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs, as discussed above. In addition, it is also adjusted by unrealized foreign exchange (gains) or losses.
Calculated Billings represents the change in deferred revenue for the current period plus revenue for the current period.
Adjusted Calculated Billings is calculated billings adjusted to exclude the calculated billings associated with services for Oracle’s PeopleSoft software products.
Remaining Performance Obligations represent all future non-cancellable revenue under contract that has not yet been recognized as revenue, and includes deferred revenue and unbilled amounts.
Adjusted Remaining Performance Obligations is the Company's remaining performance obligations adjusted to exclude the remaining performance obligations for services for Oracle’s PeopleSoft software products.
Rule of 20 is achieved when the revenue growth percentage and adjusted EBITDA percentage of revenue equal 20% when added together.
Investor Relations Contact
Dean Pohl
Rimini Street, Inc.
+1 925 523-7636
dpohl@riministreet.com
Media Relations Contact
Janet Ravin
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
FAQ
How did Rimini Street (RMNI) perform financially in Q1 2026?
Rimini Street reported Q1 2026 revenue of $105.5 million, up 1.2% year over year. Net income was $1.4 million versus $3.4 million a year earlier, and Adjusted EBITDA was $8.9 million compared with $15.7 million in Q1 2025.
What were Rimini Street’s key profitability metrics for Q1 2026?
Rimini Street’s Q1 2026 gross margin was 59.0%, down from 61.0% in Q1 2025. Operating income was $4.8 million and net income was $1.4 million, while non-GAAP operating income and Adjusted EBITDA were $7.9 million and $8.9 million, respectively.
How fast are Rimini Street’s billings and Remaining Performance Obligations growing?
In Q1 2026, Calculated Billings increased 19.9% to $95.3 million, and Adjusted Calculated Billings rose 22.9% to $92.2 million. Remaining Performance Obligations reached $643.6 million, up 16.4% year over year, with Adjusted RPO at $633.2 million.
What is Rimini Street’s revenue guidance for Q2 2026 and full year 2026?
Rimini Street expects Q2 2026 revenue between $106 million and $108 million. For full year 2026, it reiterated guidance for revenue growth of 4–6% and Adjusted EBITDA margins of 12.5–15.5%, targeting its Rule of 20 objective.
How strong is Rimini Street’s balance sheet after Q1 2026?
As of March 31, 2026, Rimini Street held $132.2 million in cash and cash equivalents. It prepaid $10.0 million of debt during the quarter, reducing its term loan to $58.4 million and increasing net cash to $73.8 million.
What happened to Rimini Street’s U.S. and international revenues in Q1 2026?
In Q1 2026, U.S. revenue declined 6.4% to $46.9 million, while international revenue grew 8.3% to $58.6 million. Excluding support services for Oracle’s PeopleSoft products, international revenue rose 9.9% and U.S. revenue decreased 0.3%.