Rimini Street (RMNI)
NASDAQ:RMNI
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Rimini Street
(NASDAQ:RMNI)
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Rating:60Neutral
Price Target:
$4.50
▲(20.97% Upside)
Action:Reiterated
Date:06/05/26
RMNI scores in the low-60s primarily due to improving operating performance and cash generation, but the overall profile is capped by balance-sheet weakness (negative equity) and historical volatility. Technicals are supportive with price above major moving averages, while valuation is reasonable on P/E but lacks dividend support. The latest call adds confidence in bookings/visibility, but meaningful margin compression and below-target retention keep the outlook balanced.
Positive Factors
Recurring revenue and billings momentum
Sustained growth in billings, ARR and RPO signals durable subscription demand and stronger contract visibility. Large >$1M deals and added logos indicate enterprise adoption and higher contract TCV, supporting recurring revenue durability and upsell potential over the next several quarters.
Negative Factors
Negative shareholders' equity
Negative equity is a structural balance-sheet weakness that limits the company’s capital cushion and increases vulnerability to shocks. It can constrain financing options, elevate covenant sensitivity, and reduce flexibility for acquisitions or large strategic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue and billings momentum
Sustained growth in billings, ARR and RPO signals durable subscription demand and stronger contract visibility. Large >$1M deals and added logos indicate enterprise adoption and higher contract TCV, supporting recurring revenue durability and upsell potential over the next several quarters.
Read all positive factors
Rimini Street Key Performance Indicators (KPIs)
Rimini Street (RMNI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$385.98M
Dividend YieldN/A
Average Volume (3M)427.42K
Price to Earnings (P/E)11.0
Beta (1Y)0.97
Revenue Growth-0.80%
EPS GrowthN/A
CountryUS
Employees2,000
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.38
Shares Outstanding92,560,000
10 Day Avg. Volume380,661
30 Day Avg. Volume427,420
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 Cap0.85
Enterprise Value/Revenue0.77
Enterprise Value/Gross Profit1.29
Enterprise Value/Ebitda5.23
Forecast
1Y Price Target
$5.83Price Target Upside56.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
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:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call showed clear commercial momentum — strong billings growth (+19.9% YoY), RPO expansion (+16.4% YoY), larger deals (11 >$1M totaling $33M) and a stronger cash/debt position — and outlined a strategic move into Agentic AI ERP with incremental R&D investment. Offsetting this are meaningful margin and profitability pressures (gross margin down ~2 ppt, adjusted EBITDA roughly halved versus prior-year quarter), higher sales & marketing spend, and a still-suboptimal 88% retention rate. Management characterized the negative near-term profitability impact as intentional, pulled-forward investments to capture longer-term opportunities and reiterated full-year guidance (4–6% revenue growth, adjusted EBITDA margin 12.5–15.5%). Overall the narrative is cautiously optimistic but balanced by material near-term margin deterioration.Positive Updates
Revenue Return to Growth
Q1 revenue of $105.5M, up 1.2% year-over-year; excluding Oracle PeopleSoft support, revenue increased 5.2% year-over-year. FX movements reduced revenue by ~0.5%.
Negative Updates
Gross Margin Compression
GAAP gross margin declined to 59.0% of revenue from 61.0% a year ago (non-GAAP 59.5% vs 61.5% prior year). Management cited pulled-forward investments and large front-loaded non-subscription engagements as causes.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Return to Growth
Q1 revenue of $105.5M, up 1.2% year-over-year; excluding Oracle PeopleSoft support, revenue increased 5.2% year-over-year. FX movements reduced revenue by ~0.5%.
Read all positive updates
Company Guidance
Rimini Street guided Q2 2026 revenue of $106–108 million and reiterated full‑year 2026 targets of 4%–6% revenue growth and 12.5%–15.5% adjusted EBITDA margin (together targeting a Rule of 20, with a longer‑term aim toward Rule of 40), while noting they are not raising guidance yet and will monitor progress. For context, Q1 included revenue of $105.5M (+1.2% YoY; +5.2% ex‑PeopleSoft), ARR $400.8M (+1.2%), billings $95.3M (+19.9%; +22.9% ex‑PeopleSoft), RPO $643.6M (+16.4%; +18.2% ex‑PeopleSoft), deferred revenue $277.3M, gross margin 59.0% (non‑GAAP 59.5%), adjusted EBITDA $8.9M (8.4% of revenue), GAAP net income $1.4M ($0.01/sh) and non‑GAAP net income $4.0M ($0.04/sh); cash $132.2M, debt $58.4M after a $10M voluntary prepayment (net cash position $73.8M), PeopleSoft support was 3% of Q1 revenue, and R&D spending is expected to creep up and exit the year at roughly 1% of revenue.Rimini Street Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
34
Negative
Cash Flow
59
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 422.81M | 421.54M | 428.75M | 431.50M | 409.66M | 374.43M |
| Gross Profit | 253.33M | 254.60M | 261.02M | 268.98M | 257.28M | 237.97M |
| EBITDA | 62.52M | 65.86M | -22.18M | 50.42M | 16.11M | 29.53M |
| Net Income | 35.11M | 37.10M | -36.27M | 26.06M | -2.48M | 75.22M |
Balance Sheet | ||||||
| Total Assets | 397.10M | 423.11M | 369.06M | 393.80M | 391.04M | 391.26M |
| Cash, Cash Equivalents and Short-Term Investments | 132.19M | 119.97M | 88.79M | 125.25M | 129.12M | 119.57M |
| Total Debt | 78.58M | 91.01M | 96.63M | 81.66M | 88.44M | 100.37M |
| Total Liabilities | 419.67M | 450.14M | 438.51M | 433.29M | 468.21M | 471.65M |
| Stockholders Equity | -22.57M | -27.03M | -69.44M | -39.50M | -77.17M | -80.39M |
Cash Flow | ||||||
| Free Cash Flow | 46.71M | 55.65M | -42.23M | 5.25M | 30.57M | 64.84M |
| Operating Cash Flow | 51.04M | 60.22M | -38.85M | 12.47M | 34.90M | 66.94M |
| Investing Cash Flow | -4.32M | -4.57M | 6.45M | 3.08M | -24.45M | -2.11M |
| Financing Cash Flow | -36.18M | -26.60M | 14.02M | -6.89M | -13.57M | -26.57M |
Rimini Street Technical Analysis
Positive
3.72
Price Trends
3.83
Positive
3.58
Positive
3.87
Positive
Market Momentum
0.11
Positive
61.42
Neutral
51.21
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 3.72 is below the 20-day moving average (MA) of 4.11, below the 50-day MA of 3.83, and below the 200-day MA of 3.87, indicating a bullish trend. The MACD of 0.11 indicates Positive momentum. The RSI at 61.42 is Neutral, neither overbought nor oversold. The STOCH value of 51.21 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $726.77M | 77.74 | 16.65% | ― | 18.15% | 331.16% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $385.98M | 11.03 | -132.60% | ― | -0.80% | ― | |
52 Neutral | $386.08M | ― | -110.37% | ― | -11.42% | -20.07% | |
52 Neutral | $224.47M | -5.13 | -32.73% | ― | 11.07% | 27.51% | |
48 Neutral | $217.91M | -8.54 | -10.61% | ― | -9.70% | 61.30% |
* Technology Sector Average
RMNI
Rimini Street
4.22
0.36
9.33%
SMRT
SmartRent
1.12
0.20
21.74%
DSP
Viant Technology
11.14
-1.83
-14.11%
BMBL
Bumble
2.72
-3.80
-58.28%
LAW
CS Disco
3.54
-0.79
-18.24%
Rimini Street Corporate Events
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...
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-...
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.