Rimini Street ( (RMNI) ) has issued an update.
Rimini Street’s fiscal third quarter 2024 results show a mixed performance, with overall revenue slightly declining to $104.7 million and a net loss of $43.1 million, impacted by a reduction in Oracle PeopleSoft-related services. Despite the challenges, the company saw growth in international revenue and announced new client wins, emphasizing their focus on AI and ML innovations. Rimini Street continues to be recognized for its workplace culture and community support initiatives, while it navigates ongoing legal issues with Oracle.
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