Rimini Street, Inc. reported a slight increase in revenue for the first quarter of 2026, generating $105.5 million compared to $104.2 million in the same period of 2025, marking a 1% growth. The company recorded a net income of $1.4 million, a decrease from $3.4 million in the prior year, reflecting a 59% decline. The gross profit margin also fell to 59% from 61% year-over-year, attributed to rising costs in engineering consulting and administrative allocations. Operating expenses increased by 6% to $57.5 million, driven primarily by higher sales and marketing costs.

In terms of operational metrics, Rimini Street supported over 3,130 active clients as of March 31, 2026, up from 3,092 a year earlier. The company’s annualized recurring revenue reached $401 million, a slight increase from $396 million in the previous year. However, revenue from Oracle PeopleSoft services, which the company is winding down, accounted for only 3% of total revenue in the latest quarter, down from 7% in the same period last year. This transition is part of a settlement agreement with Oracle, requiring the complete cessation of PeopleSoft services by July 31, 2028.

Rimini Street's financial position showed a working capital deficit of $50.3 million as of March 31, 2026, with total assets of $397.1 million, down from $423.1 million at the end of 2025. The company had cash, cash equivalents, and restricted cash totaling $133.3 million. The decrease in total assets was primarily due to a reduction in accounts receivable and deferred revenue, which stood at $277.3 million, reflecting the company's ongoing service commitments.

Strategically, Rimini Street has focused on enhancing its product offerings, including the introduction of its Agentic AI ERP solutions. The company has also made significant investments in research and development, with expenses of $0.6 million in the latest quarter. The company’s workforce has grown to over 1,950 employees, supporting its expansion efforts. Looking ahead, Rimini Street anticipates that its cash reserves, combined with future cash flows from operations, will be sufficient to meet its obligations and support growth initiatives over the next year, despite ongoing global economic uncertainties.

About Rimini Street, Inc.

Rimini Street, Inc. provides independent enterprise software support, products, and services for applications, databases, and technology platforms from vendors like Oracle, SAP, VMware, Salesforce, IBM, and Microsoft. Its offerings include support, managed services, security, interoperability, observability, and consulting, serving global clients across industries. The company emphasizes cost savings, high responsiveness, and support for complex hybrid IT environments, leveraging proprietary tools and AI to enhance client outcomes.

This description was generated via AI from an annual report. Updated 8 months ago.

About 10-Q Filings

A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.

Key points about the 10-Q:

  • Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
  • Content: It includes:
    • Financial statements showing the company's current financial position
    • Updates from management on the performance and projections of the business
    • Information about potential risks the company faces
    • Details on how the company is run internally
  • Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.

Our Methodology

AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.

Our method:

  1. Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
  2. AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
  3. Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
  4. Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
  5. Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Read more about AssetRoom

Feedback & Corrections

Spot an error or have a suggestion? Contact us.