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Rimini Street (RMNI)
:RMNI
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.1Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 66.86%
|Next Earnings Date:Aug 09, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were notable achievements such as an improvement in billings, a significant new partnership with ServiceNow, and successful cost optimization efforts, these were offset by challenges including a decline in revenue, substantial litigation costs, and a net loss for the quarter. The wind down of PeopleSoft services also contributed to revenue decline. The company's strategic actions indicate potential for future growth, but current financial results show challenges.Company Guidance
During the Rimini Street Q3 2024 earnings call, the company reported a revenue of $104.7 million, reflecting a year-over-year decrease of 2.6%, while annualized recurring revenue was $401.5 million, marking a 3.6% decline. The billings, however, showed a positive shift with a 7.7% year-over-year increase to $65.2 million. The company achieved a gross margin of 60.7%, down from 62.7% in the prior year but noted a sequential improvement of 160 basis points. The revenue retention rate stood at 89%, with 78% of subscription revenue being noncancelable for at least 12 months. A significant part of the discussion highlighted the impact of ongoing Oracle litigation, including a $58.5 million payment for legal fees. Additionally, Rimini Street outlined its cost optimization plan aimed at reducing net operating costs by $35 million annually, of which $14.9 million of reductions have already been realized. Despite the legal and financial challenges, the company is optimistic about the future, especially with its new strategic partnership with ServiceNow, anticipated to bolster its enterprise software solutions portfolio.Improvement in Billings
Quarterly billings improved by 7.7% year-over-year, with solid results in contract renewal and extensions, led by North America and Asia Pacific regions.
New Strategic Partnership with ServiceNow
Rimini Street announced a partnership with ServiceNow, offering a solution for enterprise application modernization and AI, enhancing existing ERP systems without costly upgrades.
Successful Cost Optimization
Achieved $14.9 million in net annualized reductions as part of a cost optimization plan aimed at reducing $35 million by Q1 2025.
New Client Acquisition
Rimini Street secured 19 new client sales transactions with TCV over $1 million in the quarter.
Gross Margin Improvement
Gross margin increased 160 basis points sequentially, exceeding 60% for the first time this year.
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RMNI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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RMNI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $1.69 | $1.59 | -5.92% |
| Jul 31, 2024 | $3.15 | $2.22 | -29.52% |
| May 02, 2024 | $2.76 | $2.61 | -5.43% |
| Feb 28, 2024 | $3.10 | $3.23 | +4.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Rimini Street (RMNI) report earnings?
Rimini Street (RMNI) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Rimini Street (RMNI) earnings time?
Rimini Street (RMNI) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RMNI EPS forecast?
RMNI EPS forecast for the fiscal quarter 2024 (Q4) is 0.1.
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