Rimini Street, Inc. (RMNI): Results of Operations and Financial Condition
Rimini Street, Inc. (RMNI) filed an SEC Form 8-K — Results of Operations and Financial Condition. Rimini Street Announces Fiscal Second Quarter 2026 Financial and Operating Results page 1 Exhibit 99.1 FOR IMMEDIATE RELEASE Rimini Street Announces Fiscal Second Quarter 2026 Financial and Operating Results Second Quarter Financial Highlights Include: Revenue of $111.1 million,
How this was made
The 30-second read
Why it matters
This is a primary-source quarterly disclosure with recurring revenue and RPO metrics, profitability and EPS figures, and balance-sheet actions (debt prepayment, cash increase). It also introduces Rimini Govern for AI, which could be used to frame forward demand for agent governance services.
Market read
Traders can update near-term expectations using the disclosed revenue, adjusted revenue, RPO, ARR, cash/debt changes, and the explicit note that prior-year comparisons were impacted by a litigation settlement benefit.
What to watch
The filing highlights Oracle PeopleSoft exclusion effects; traders may need to separate core support momentum from product-line mix and watch whether RPO growth converts into future billings and operating leverage.
Revenue of $111.1 million, up 6.7% year over year; Adjusted Revenue of $108.0 million, up 10.0% year over year; third quarter 2026 revenue outlook of $110 million to $112 million.
Revenue, Adjusted Revenue, RPO and Adjusted Annualized Recurring Revenue grew year over year, while Calculated Billings declined and non-GAAP profitability measures were below the prior-year period. Management reiterated its full-year outlook.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $111.1 million | – | up 6.7% |
| Adjusted Revenuenon-GAAP | $108.0 million | – | up 10.0% |
| Subscription revenueGAAP | $103.2 million | – | – |
| Subscription revenue as a percentage of total revenueGAAP | 92.9% | – | – |
| Subscription revenue excluding the support services for Oracle’s PeopleSoft software productsother | $100.3 million | – | – |
| Subscription revenue excluding the support services for Oracle’s PeopleSoft software products as a percentage of total revenueother | 92.8% | – | – |
| Annualized Recurring Revenueother | $412.8 million | – | up 4.8% |
| Adjusted Annualized Recurring Revenueother | $401.1 million | – | up 8.1% |
| Active Clientsother | 3,132 | – | up 2.4% |
| Revenue Retention Rateother | 90% | – | – |
| Calculated Billingsother | $100.9 million | – | decrease of 8.8% |
| Adjusted Calculated Billingsother | $99.3 million | – | decrease of 8.0% |
| Remaining Performance Obligations (RPO)other | $636.9 million | – | up 8.0% |
| Adjusted RPOother | $627.5 million | – | up 8.8% |
| Gross marginGAAP | 60.9% | – | – |
| Operating incomeGAAP | $6.4 million | – | – |
| Non-GAAP Operating Incomenon-GAAP | $9.2 million | – | – |
| Net incomeGAAP | $2.4 million | – | – |
| Non-GAAP Net Incomenon-GAAP | $5.9 million | – | – |
| Adjusted EBITDAnon-GAAP | $10.5 million | – | – |
| Basic earnings per share attributable to common stockholdersGAAP | $0.03 | – | – |
| Diluted earnings per share attributable to common stockholdersGAAP | $0.03 | – | – |
| Cash and cash equivalentsGAAP | $123.4 million | – | – |
| Outstanding debtother | $48.4 million | – | – |
| Support cases resolvedother | nearly 6,800 | – | – |
| Tax, legal, and regulatory updates deliveredother | over 4,500 | – | – |
| Average Rimini Support client satisfaction scoreother | 4.9 out of 5.0 | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| U.S. revenueExcluding revenue for Oracle’s PeopleSoft software products, U.S. revenue increased by 3.1%. | $48.4 million | – | decrease of 1.6% |
| International revenueExcluding revenue for Oracle’s PeopleSoft software products, international revenue increased by 15.8%. | $62.7 million | – | increase of 14.1% |
third quarter 2026 and full year 2026 outlook
- Revenuethird quarter 2026 revenue to be in the range of $110 million to $112 million; full year 2026 revenue growth of 4% to 6%
- NoteAdjusted EBITDA margins of 12.5% to 15.5%
- Noteconsistent with the goal of achieving the “Rule of 20” for fiscal year 2026
What drove it
- Management cited strong demand for its core Rimini Support™ offering, increasing adoption of its broader enterprise software services portfolio and improving sales execution.
- RPO was $636.9 million as of June 30, 2026, up 8.0% year over year, while Adjusted RPO was $627.5 million, up 8.8% year over year.
- International revenue was $62.7 million, an increase of 14.1%, while U.S. revenue was $48.4 million, a decrease of 1.6%.
- The company launched Rimini Govern™ for AI, described as AI agent governance and management as a service.
Concerns
- Calculated Billings was $100.9 million, a decrease of 8.8% compared to the same period last year.
- Adjusted Calculated Billings was $99.3 million, a decrease of 8.0% compared to the same period last year.
- Non-GAAP Operating Income was $9.2 million compared to $10.9 million for the same period last year.
- Adjusted EBITDA was $10.5 million compared to $14.0 million for the same period last year.
- Management stated that comparisons of second quarter 2026 operating income, net income and earnings per share were significantly impacted by a litigation settlement benefit recognized during the second quarter of 2025.
What to watch
- Third quarter 2026 revenue guidance of $110 million to $112 million.
- Full year 2026 revenue growth outlook of 4% to 6%.
- Full year 2026 Adjusted EBITDA margin outlook of 12.5% to 15.5%.
- Calculated Billings trends relative to RPO and Adjusted Annualized Recurring Revenue growth.
- U.S. revenue performance, including revenue excluding Oracle PeopleSoft support services.
Balance sheet and cash flow
- Prepaid another $10 million of debt during the quarter.
- Outstanding debt was reduced to $48.4 million.
- Cash and cash equivalents were $123.4 million as of June 30, 2026.
Analysis
Rimini Street reported second-quarter revenue of $111.1 million, up 6.7% year over year, while Adjusted Revenue was $108.0 million, up 10.0%. The company reported international revenue of $62.7 million, up 14.1%, whereas U.S. revenue of $48.4 million declined 1.6%. Excluding revenue for Oracle’s PeopleSoft software products, U.S. revenue increased 3.1% and international revenue increased 15.8%. Management attributed the quarter to demand for Rimini Support™, broader enterprise software services adoption and improved sales execution.
Recurring and contracted-revenue indicators expanded. Annualized Recurring Revenue was $412.8 million, up 4.8%, and Adjusted Annualized Recurring Revenue was $401.1 million, up 8.1%. RPO increased 8.0% to $636.9 million, while Adjusted RPO increased 8.8% to $627.5 million. Active Clients increased 2.4% to 3,132, and the Revenue Retention Rate was 90%, unchanged from the trailing 12 months ended June 30, 2025.
The demand indicators were offset by weaker billings and lower non-GAAP profit measures. Calculated Billings declined 8.8% to $100.9 million and Adjusted Calculated Billings declined 8.0% to $99.3 million. Gross margin increased to 60.9% from 60.4%, but Non-GAAP Operating Income declined to $9.2 million from $10.9 million, Non-GAAP Net Income declined to $5.9 million from $7.8 million, and Adjusted EBITDA declined to $10.5 million from $14.0 million. Reported operating income, net income and EPS comparisons were significantly affected by a litigation settlement benefit in the second quarter of 2025, according to the CFO.
Balance-sheet actions included prepaying another $10 million of debt, reducing outstanding debt to $48.4 million and increasing cash and cash equivalents to $123.4 million as of June 30, 2026. The company expects third-quarter revenue of $110 million to $112 million and reiterated its full-year outlook for revenue growth of 4% to 6% and Adjusted EBITDA margins of 12.5% to 15.5%. The principal reported items to follow are whether billings recover, whether international growth continues to offset U.S. revenue pressure, and delivery against the reiterated full-year revenue and margin outlook.
Management, verbatim
Second-quarter results and four consecutive quarters of improved growth metrics demonstrate strong demand for our core Rimini Support™ offering, increasing adoption of our broader enterprise software services portfolio and improving sales execution.
Seth Ravin, president and CEO, Rimini Street
The quarter results reflect continued growth momentum, expanding contracted revenue visibility and disciplined balance sheet management.
Michael Perica, CFO, Rimini Street
Not in the filing
stated, not guessed- Previous-release outlook needed to compare actual results with prior guidance
- Prior-quarter comparisons for reported financial and operating metrics
- Operating cash flow
- Free cash flow
- Share repurchases
- Dividends
- Third quarter 2026 gross margin guidance
- Third quarter 2026 operating expense guidance
- Third quarter 2026 tax-rate guidance
- Full year 2026 gross margin guidance
- Full year 2026 operating expense guidance
- Full year 2026 tax-rate guidance
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The 8-K (Item 2.02) includes Exhibit 99.1 with Rimini Street’s fiscal second quarter 2026 financial and operating results for the period ended June 30, 2026.
Ticker impact
Rimini Street reported fiscal Q2 2026 results, including revenue $111.1M (+6.7% YoY) and RPO $636.9M (+8.0% YoY).
Near-term bias upward if investors focus on recurring growth (ARR, RPO) and cash/debt progress; downside risk if they anchor on weaker operating income and net income versus the prior-year litigation benefit.
The filing provides multiple decision-relevant datapoints: revenue and adjusted revenue growth, RPO/ARR increases, cash up and debt down, and operating income/net income comparisons explicitly affected by a prior-year litigation settlement. That mix typically supports a constructive read-through for subscription-driven models, but profitability and billings softness can temper the reaction.
Market effects
Reinforces demand for third-party enterprise software support and AI-adjacent services, potentially supporting sentiment toward similar recurring-revenue software support models.
International revenue growth outpaced U.S. growth, which may influence regional allocation views for enterprise support vendors.
Limited direct global macro linkage; the story is company-specific but relevant to enterprise IT spend and ERP modernization budgets.
Counterpoint
Investors may discount the headline growth if billings declined 8.8% and operating income/net income fell sharply versus the prior year due to litigation-related comparables.
Key entities
- companyRimini Street, Inc.
Nasdaq-listed provider of enterprise software support, managed services, and AI ERP innovation solutions; reported fiscal Q2 2026 results in the 8-K.
- executiveSeth Ravin
CEO quoted on improved growth metrics and the company’s Agentic AI ERP approach.
- executiveMichael Perica
CFO quoted on balance-sheet management and profitability excluding prior-year litigation-related items.
