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Rimini Street
(NASDAQ:RMNI)
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Rating:60Neutral
Price Target:
$5.00
▲(13.38% Upside)
Action:Reiterated
Date:07/31/26
RMNI scores as a moderate-risk, improving setup: the largest drag is financial quality (negative equity and historical volatility) despite better recent profitability and cash flow. Technicals are supportive with price above all key moving averages, and the earnings call reinforced steady growth guidance plus ARR/RPO and cash strength, though billings and near-term margin pressure temper upside. Valuation is reasonable on P/E, but no dividend data is available to add support.
Positive Factors
Recurring revenue and ARR expansion
Rimini's expanding ARR and RPO, driven by subscription renewals and new-logo wins, create predictable, recurring cash flows and revenue visibility. High contracted obligations support forecasting, contract renewals, and durable topline stability over the next several quarters.
Negative Factors
Persistently negative stockholders' equity
Negative shareholders' equity constrains financial flexibility, reduces covenant and liquidity buffers, and heightens refinancing and creditor risk. This structural balance-sheet weakness limits strategic options and increases vulnerability to earnings or cash-flow shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue and ARR expansion
Rimini's expanding ARR and RPO, driven by subscription renewals and new-logo wins, create predictable, recurring cash flows and revenue visibility. High contracted obligations support forecasting, contract renewals, and durable topline stability over the next several quarters.
Read all positive factors
Rimini Street Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down where sales come from by region, revealing which markets drive growth and where the company is concentrated. For Rimini Street, geographic splits highlight exposure to local economies, regulatory environments, and competitors—high concentration in one region can boost growth when that market is strong but increases risk if conditions worsen there.
Breaks down where sales come from by region, revealing which markets drive growth and where the company is concentrated. For Rimini Street, geographic splits highlight exposure to local economies, regulatory environments, and competitors—high concentration in one region can boost growth when that market is strong but increases risk if conditions worsen there.
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The Fly
The FlyRimini Street (RMNI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$449.04M
Dividend YieldN/A
Average Volume (3M)412.73K
Price to Earnings (P/E)58.2
Beta (1Y)1.05
Revenue Growth0.60%
EPS GrowthN/A
CountryUS
Employees1,980
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.08
Shares Outstanding93,356,000
10 Day Avg. Volume270,757
30 Day Avg. Volume412,729
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$6.50Price Target Upside47.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.36
Revenue Forecast (FY)$440.88M
Rimini Street Business Overview & Revenue Model
Company Description
Headquartered in Las Vegas, Nevada, and established in 2005, Rimini Street, Inc. delivers comprehensive enterprise software solutions encompassing its own products, specialized services, and robust support systems. The firm is particularly noted f...
How the Company Makes Money
Rimini Street primarily makes money by selling subscription-based support services and related enterprise services to organizations that run supported enterprise software. Its core revenue stream is fees for third-party software maintenance and su...
Rimini Street Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call highlighted multiple positive operational and financial trends: revenue and ARR growth, strong RPO expansion, gross margin above 60%, meaningful new-logo and large-deal wins, product launches (notably Rimini Govern for AI), cash balance improvement and debt reduction, and reiterated full-year guidance. Headwinds include a YoY decline in billings, reduced adjusted EBITDA and non-GAAP earnings versus a year ago (which benefited from a one-time settlement), higher sales & marketing expense as the company invests in AI and go-to-market scale, and some sales force turnover. Management emphasized healthy pipeline growth, ~30% close rates, and continued progress on retention and PeopleSoft wind-down. On balance, the highlights outweigh the lowlights given sustained revenue/ARR expansion, product momentum, and a strengthened balance sheet, despite near-term margin pressure from investments.Positive Updates
Revenue Growth
Total Q2 revenue of $111.1M, up 6.7% year-over-year; adjusted revenue excluding PeopleSoft products grew 10% YoY.
Negative Updates
Billings Decline
Q2 billings of $100.9M, down 8.8% YoY (down ~8% YoY excluding PeopleSoft billings); company cited lumpiness and renewal timing as drivers.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Total Q2 revenue of $111.1M, up 6.7% year-over-year; adjusted revenue excluding PeopleSoft products grew 10% YoY.
Read all positive updates
Company Guidance
The company guided Q3 2026 revenue of $110–$112 million and reiterated full‑year 2026 guidance calling for revenue growth of 4%–6% and adjusted EBITDA margins of 12.5%–15.5%, consistent with its goal of achieving the “rule of 20” for FY26. For context, Q2 results cited alongside the guidance included revenue of $111.1M (+6.7% YoY; adjusted ex‑PeopleSoft +10%), ARR ex‑PeopleSoft $401.1M (+8.1% YoY), billings $100.9M (−8.8% YoY), gross margin 60.9% (non‑GAAP 61.3%), adjusted EBITDA $10.5M (9.5% of revenue), non‑GAAP net income $5.9M ($0.06/sh) vs. GAAP $2.4M ($0.03/sh), cash $123.4M, debt outstanding $48.4M (after $10M prepaid), YTD operating cash flow $22.9M (cash conversion 118%), deferred revenue $267.1M, and RPO $636.9M (+8%).Rimini Street Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
32
Negative
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 429.77M | 421.54M | 428.75M | 431.50M | 409.66M | 374.43M |
| Gross Profit | 258.18M | 254.60M | 261.02M | 268.98M | 257.28M | 237.97M |
| EBITDA | 27.77M | 65.86M | -22.18M | 50.42M | 16.11M | 29.53M |
| Net Income | 7.25M | 37.10M | -36.27M | 26.06M | -2.48M | 75.22M |
Balance Sheet | ||||||
| Total Assets | 384.25M | 423.11M | 369.06M | 393.80M | 391.04M | 391.26M |
| Cash, Cash Equivalents and Short-Term Investments | 123.44M | 119.97M | 88.79M | 125.25M | 129.12M | 119.57M |
| Total Debt | 67.53M | 91.01M | 96.63M | 81.66M | 88.44M | 100.37M |
| Total Liabilities | 400.92M | 450.14M | 438.51M | 433.29M | 468.21M | 471.65M |
| Stockholders Equity | -16.67M | -27.03M | -69.44M | -39.50M | -77.17M | -80.39M |
Cash Flow | ||||||
| Free Cash Flow | 63.87M | 55.65M | -42.23M | 5.25M | 30.57M | 64.84M |
| Operating Cash Flow | 67.16M | 60.22M | -38.85M | 12.47M | 34.90M | 66.94M |
| Investing Cash Flow | -3.29M | -4.57M | 6.45M | 3.08M | -24.45M | -2.11M |
| Financing Cash Flow | -39.97M | -26.60M | 14.02M | -6.89M | -13.57M | -26.57M |
Rimini Street Technical Analysis
Positive
4.41
Price Trends
4.44
Positive
3.97
Positive
3.88
Positive
Market Momentum
0.15
Negative
64.61
Neutral
80.50
Negative
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 4.41 is below the 20-day moving average (MA) of 4.72, below the 50-day MA of 4.44, and above the 200-day MA of 3.88, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 64.61 is Neutral, neither overbought nor oversold. The STOCH value of 80.50 is Negative, 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $771.33M | 82.14 | 16.65% | ― | 18.15% | 331.16% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $449.04M | 58.16 | -31.00% | ― | 0.60% | ― | |
55 Neutral | $194.77M | -7.70 | -8.50% | ― | -9.70% | 61.30% | |
52 Neutral | $371.73M | -0.51 | -110.37% | ― | -11.42% | -20.07% | |
49 Neutral | $250.12M | -5.65 | -32.17% | ― | 11.07% | 27.51% |
* Technology Sector Average
RMNI
Rimini Street
5.05
1.06
26.57%
SMRT
SmartRent
1.42
0.17
13.60%
DSP
Viant Technology
13.24
1.24
10.33%
BMBL
Bumble
2.83
-3.49
-55.22%
LAW
CS Disco
4.30
-0.20
-4.44%
Rimini Street Corporate Events
Business Operations and StrategyFinancial Disclosures
Rimini Street Reports Solid Q2 2026 Revenue Growth
Positive
Jul 30, 2026
Rimini Street reported fiscal second-quarter 2026 results on July 30, 2026, showing revenue of $111.1 million, up 6.7% year-on-year, and adjusted annualized recurring revenue of $401.1 million, up 8.1%. International revenue grew strongly while U....
Executive/Board ChangesShareholder Meetings
Rimini Street Stockholders Approve Directors, Pay and Auditor
Positive
Jun 4, 2026
Rimini Street, Inc. held its 2026 Annual Meeting of Stockholders on June 3, 2026, via live audio webcast, with approximately 88.73% of the company’s outstanding common stock represented, ensuring a valid quorum for corporate decision-making....
Business Operations and StrategyFinancial Disclosures
Rimini Street Posts Q1 2026 Results, Recurring Revenue Climbs
Neutral
Apr 30, 2026
On April 30, 2026, Rimini Street reported fiscal first quarter 2026 results showing modest top-line growth but softer profitability as it continued to invest in AI and innovation offerings. Revenue for the quarter ended March 31, 2026 rose 1.2% ye...
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.