Rimini Street Inc (RMNI)
NASDAQ:RMNI
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Rimini Street
(NASDAQ:RMNI)
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Rating:56Neutral
Price Target:
$3.50
▲(3.55% Upside)
Action:ReiteratedDate:03/04/26
RMNI scores mid-range: improved 2025 profitability and cash generation and a low P/E support the rating, but persistent negative equity, flat-to-declining revenue, and margin/retention pressures highlighted in the earnings call keep the overall score restrained. Technicals are moderately constructive but not decisively bullish given the stock remains below the 200-day average.
Positive Factors
Recurring contracted revenue and backlog
High RPO and steady billings reflect durable contracted revenue from support subscriptions, giving multi‑period revenue visibility and predictable cash inflows. This backlog supports planning, reduces short‑term cyclicality risk, and underpins recurring cash generation if retention stabilizes.
Negative Factors
Persistently negative shareholders' equity
Ongoing negative equity constrains financial flexibility and weakens the balance sheet as a durable structural issue. It complicates capital raising, can trigger covenant sensitivity, and limits the company's ability to absorb shocks or pursue large strategic M&A without dilutive or costly financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring contracted revenue and backlog
High RPO and steady billings reflect durable contracted revenue from support subscriptions, giving multi‑period revenue visibility and predictable cash inflows. This backlog supports planning, reduces short‑term cyclicality risk, and underpins recurring cash generation if retention stabilizes.
Read all positive factors
Rimini Street (RMNI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$309.82M
Dividend YieldN/A
Average Volume (3M)311.63K
Price to Earnings (P/E)9.6
Beta (1Y)0.89
Revenue Growth-0.16%
EPS GrowthN/A
CountryUS
Employees2,000
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.07
Shares Outstanding91,664,000
10 Day Avg. Volume206,411
30 Day Avg. Volume311,634
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)-13.17
Price to Sales (P/S)0.84
P/FCF Ratio6.40
Enterprise Value/Market Cap0.70
Enterprise Value/Revenue0.52
Enterprise Value/Gross Profit0.86
Enterprise Value/Ebitda3.14
Forecast
1Y Price Target
$5.58Price Target Upside65.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.35
Revenue Forecast (FY)$434.39M
Rimini Street Business Overview & Revenue Model
Company Description
Rimini Street, Inc. provides enterprise software products, services, and support for various industries. The company offers software support services for Oracle and SAP enterprise software products. It sells its solutions primarily through direct ...
How the Company Makes Money
Rimini Street primarily makes money by selling contracted, subscription-style support and maintenance services for enterprise software products (most notably certain Oracle and SAP product lines). Customers pay recurring fees—typically under multi...
Rimini Street Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: clear strategic and operational positives (strong RPO growth, successful Agentic AI product launch with measurable client benefits, improved cash and RPO, and return to GAAP profitability for the year) balanced against near-term operational pressures (declines in reported revenue and ARR on a GAAP basis, margin compression, lower adjusted EBITDA, higher sales and marketing spend to scale the new product line, and retention headwinds). Management expressed confidence in returning to growth in 2026 and provided constructive guidance, but the company faces execution and margin challenges in the near term.Positive Updates
RPO and Billings Momentum
Remaining performance obligations (RPO) reached $653.0M as of Dec 31, 2025, up 11% year-over-year (and +12% excluding PeopleSoft-related RPO). Q4 billings were $171.3M (flat YoY) and full-year billings were $427.9M, up 1.2% YoY (and +4.2% YoY excluding PeopleSoft). Management reported stronger pipeline and improved close rates (over 30% in Q4).
Negative Updates
Reported Revenue and ARR Declines (GAAP)
Reported Q4 revenue was $109.8M, down 3.9% YoY, and full-year revenue was $421.5M, down 1.7% YoY. Annualized recurring revenue (ARR) was $411.4M in Q4, down 0.8% YoY on a reported basis.
Read all updates
Q4-2025 Updates
Positive
Negative
RPO and Billings Momentum
Remaining performance obligations (RPO) reached $653.0M as of Dec 31, 2025, up 11% year-over-year (and +12% excluding PeopleSoft-related RPO). Q4 billings were $171.3M (flat YoY) and full-year billings were $427.9M, up 1.2% YoY (and +4.2% YoY excluding PeopleSoft). Management reported stronger pipeline and improved close rates (over 30% in Q4).
Read all positive updates
Company Guidance
Rimini guided Q1 2026 revenue of $101.5M–$103.5M and reiterated full‑year 2026 targets of 4%–6% revenue growth with adjusted EBITDA margins of 12.5%–15.5%; management said Q1’s tight range reflects GAAP impacts from the PeopleSoft wind‑down (PeopleSoft ≈4% of Q4 and ≈5% of FY2025 revenue and expected to decline sequentially) and that excluding PeopleSoft they expect Q1 growth, while an analyst noted an implied ~1.5% y/y Q1 decline on GAAP. They cited improving leading metrics behind the outlook including year‑end RPO of $653M (up 11% YoY, +12% ex‑PeopleSoft), ARR of $411.4M (Q4), FY2025 billings of $427.9M (+1.2% YoY; +4.2% ex‑PeopleSoft), Q4 billings of $171.3M, FY2025 revenue of $421.5M (Q4 revenue $109.8M), gross margin ~60.4%, cash of $120M, >30% close rates in Q4, and planned sales capacity expansion (roughly +20 sellers from mid‑70s to early‑90s) to drive back‑half acceleration.Rimini Street Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
32
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 421.54M | 428.75M | 431.50M | 409.66M | 374.43M |
| Gross Profit | 254.60M | 261.02M | 268.98M | 257.28M | 237.97M |
| EBITDA | 65.86M | -22.18M | 50.42M | 16.11M | 29.53M |
| Net Income | 37.10M | -36.27M | 26.06M | -2.48M | 75.22M |
Balance Sheet | |||||
| Total Assets | 423.11M | 369.06M | 393.80M | 391.04M | 391.26M |
| Cash, Cash Equivalents and Short-Term Investments | 119.97M | 88.79M | 125.25M | 129.12M | 119.57M |
| Total Debt | 27.86M | 96.63M | 81.66M | 88.44M | 100.37M |
| Total Liabilities | 450.14M | 438.51M | 433.29M | 468.21M | 471.65M |
| Stockholders Equity | -27.03M | -69.44M | -39.50M | -77.17M | -80.39M |
Cash Flow | |||||
| Free Cash Flow | 55.65M | -42.23M | 5.25M | 30.57M | 64.84M |
| Operating Cash Flow | 60.22M | -38.85M | 12.47M | 34.90M | 66.94M |
| Investing Cash Flow | -4.57M | 6.45M | 3.08M | -24.45M | -2.11M |
| Financing Cash Flow | -26.60M | 14.02M | -6.89M | -13.57M | -26.57M |
Rimini Street Technical Analysis
Positive
3.38
Price Trends
3.35
Positive
3.63
Negative
4.00
Negative
Market Momentum
-0.02
Negative
52.89
Neutral
79.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RMNI, the sentiment is Positive. The current price of 3.38 is above the 20-day moving average (MA) of 3.26, above the 50-day MA of 3.35, and below the 200-day MA of 4.00, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 52.89 is Neutral, neither overbought nor oversold. The STOCH value of 79.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RMNI.
Rimini Street Risk Analysis
Rimini Street disclosed 48 risk factors in its most recent earnings report. Rimini Street reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rimini Street Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $667.74M | 8.21 | 19.72% | ― | 22.97% | 49.49% | |
66 Neutral | $348.25M | -11.71 | -19.64% | ― | -6.23% | 28.57% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $453.06M | -0.19 | -106.91% | ― | -7.43% | 61.36% | |
56 Neutral | $309.82M | 9.59 | -100.92% | ― | -0.16% | ― | |
54 Neutral | $276.80M | -29.46 | -25.34% | ― | -24.30% | -181.62% | |
46 Neutral | $229.25M | -10.79 | -32.94% | ― | 6.33% | -66.34% |
* Technology Sector Average
RMNI
Rimini Street
3.38
-0.11
-3.15%
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Rimini Street Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Rimini Street Amends Credit Agreement, Updates Capital Return Limits
Neutral
Apr 1, 2026
On March 27, 2026, Rimini Street, Inc. amended its Amended and Restated Credit Agreement with its lending group led by Capital One to revise the limits on permitted “Restricted Payments,” including share repurchases and similar equity-...
Business Operations and StrategyExecutive/Board Changes
Rimini Street Adopts 2026 Long-Term Executive Incentive Plan
Positive
Mar 4, 2026
Effective March 2, 2026, Rimini Street’s compensation committee approved a 2026 Long-Term Incentive Plan for executive officers, allocating awards among performance share units, restricted stock units and stock options, with CEO Seth Ravin r...
Business Operations and StrategyStock BuybackFinancial Disclosures
Rimini Street Reports 2025 Results, Highlights AI Momentum
Positive
Feb 19, 2026
Rimini Street, Inc. is a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and is the leading third‑party support provider for Oracle, SAP and VMware software. The company fo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.