Rimini Street Reports Mixed Q1 2025 Results

Rimini Street ( (RMNI) ) has released its Q1 earnings. Here is a breakdown of the information Rimini Street presented to its investors.

Rimini Street, Inc. is a global provider of end-to-end enterprise software support and innovation solutions, recognized as a leading third-party support provider for Oracle, SAP, and VMware software. The company offers a comprehensive portfolio of solutions to optimize enterprise application, database, and technology software.

In its fiscal first quarter of 2025, Rimini Street reported a mixed financial performance with a notable increase in net income and gross margin, despite a slight decline in overall revenue. The company continues to expand its client base and partnerships, enhancing its service offerings and operational capabilities.

Key financial highlights include a gross margin of 61.0%, up from 59.8% the previous year, and net income rising to $3.4 million from $1.3 million. Billings increased by 7.2% year over year, reaching $79.4 million, while adjusted EBITDA improved to $15.3 million from $10.7 million. However, total revenue saw a decrease of 2.4% to $104.2 million, with U.S. revenue declining by 6.9% and international revenue increasing by 2.2%.

Strategically, Rimini Street announced new client acquisitions and partnerships, including collaborations with Workday and T-Systems North America, and introduced advanced security solutions for VMware and other platforms. The company also received multiple awards for its customer service and workplace culture, highlighting its commitment to excellence and innovation.

Looking ahead, Rimini Street remains cautious, suspending guidance due to ongoing litigation with Oracle. The company continues to focus on expanding its service offerings and client base, aiming to optimize technology investments and deliver high-quality support services.