Rimini Street — Fiscal Third Quarter 2026 Earnings Summary

Financial Performance:

• Revenue was $112.1 million, an 8.3% increase year-over-year from $103.4 million; Adjusted Revenue was $109.3 million, up 10.7% year-over-year.
• U.S. revenue increased 4.3% to $48.3 million (7.1% excluding PeopleSoft), while International revenue increased 11.6% to $63.8 million (13.5% excluding PeopleSoft).
• Subscription revenue was $105.2 million, representing 93.9% of total revenue, compared to $97.8 million (94.5%) in the prior year period.
• Annualized Recurring Revenue (ARR) reached $421.0 million, a 7.7% increase year-over-year; Adjusted ARR was $410.4 million, up 9.8%.
• Adjusted Calculated Billings were $78.0 million, up 21.9% year-over-year from $63.9 million; total Calculated Billings were $80.5 million, up 21.0%.
• Remaining Performance Obligations (RPO) stood at $652.9 million as of September 30, 2026, a 6.8% increase from $611.2 million; Adjusted RPO was $643.4 million, up 7.4%.
• Gross margin improved to 61.4% from 59.9% in the prior year period.
• Net income was $6.5 million compared to $2.8 million in the prior year; Non-GAAP Net Income was $11.3 million compared to $5.7 million.
• Adjusted EBITDA was $15.1 million, a 52.0% increase year-over-year from $9.9 million.
• Cash and cash equivalents were $93.3 million at September 30, 2026, down from $108.7 million in the prior year.
• Outstanding term loan debt was reduced to $43.4 million.

Guidance and Future Outlook:

• The Company expects fourth quarter 2026 revenue to be in the range of $117 million to $119 million.
• Rimini Street reiterated its "Rule of 20" guidance for fiscal year 2026, defined as the sum of revenue growth percentage and adjusted EBITDA percentage of revenue equaling 20%.
• Management noted three consecutive quarters of achievement against the fiscal 2026 plan and five consecutive quarters of improving financial and growth results.

Business Segments and Product Lines:

• The Company achieved record third-quarter sales of services for SAP software.
• New client agreements include Khimji Ramdas Group (Oman), Chen Full International (Taiwan), and AUTOBACS SEVEN (Japan), expanding support for SAP and Oracle Database.
• Launched "Rimini Govern™ for AI," a new managed service for enterprise-wide governance, security, and compliance for AI agents and workflows.
• Announced a strategic partnership with Datacom to offer Rimini Support™ for Oracle and SAP across Australia and New Zealand.
• Active Clients increased 1.9% to 3,214 as of September 30, 2026, from 3,155 in the prior year.
• Revenue Retention Rate was 90% for the trailing 12 months ended September 30, 2026, compared to 89% in the prior year.
• Strengthened executive leadership with the appointments of Keith Costello as Chief Operating Officer and Alexander Guasch as Chief Delivery Officer.

Market and Competitive Landscape:

• A global VMware user survey found 66% of users currently use or consider third-party support, and 90% are considering VMware alternatives due to higher licensing costs.
• Clients cited Rimini Street's ability to reduce total SAP support costs by 80% and provide cost-performance ratios as key differentiators.
• The Company resolved nearly 6,700 support cases and delivered nearly 4,500 tax, legal, and regulatory updates across 26 countries.
• Client satisfaction scores averaged 4.9 out of 5.0.

Risks and Challenges:

• The press release notes the wind-down of support services for Oracle's PeopleSoft software products within the required time period and the associated impact on future revenue and costs.
• The Company remains subject to the terms of its July 2025 settlement agreement with Oracle.
• Forward-looking statements highlight risks including the ability to attract new clients, maintain revenue growth, manage cost of revenue, and compete effectively in an increasingly competitive industry.
• Risks include the evolution of the ERP software support landscape, potential shifts by clients to vendor-supplied cloud versions, and the complexity of client engagements.
• Specific risks regarding Agentic AI include potential actions by AI technologies beyond intended authorization and deficiencies in AI technologies used by the Company or vendors.

Management Commentary and Tone:

• CEO Seth Ravin stated that results demonstrate "continued strong demand for our enterprise software solutions" and highlighted the completion of new partnerships and the launch of new solutions.
• CFO Michael Perica noted that top and bottom-line results exceeded analyst consensus and demonstrated "increasing operating leverage in our business model."
• Management expressed confidence in preserving financial strength and flexibility to continue investing strategically for growth.

Other Key Points:

• Completed $5.0 million in common stock repurchases and prepaid $5.0 million of debt during the quarter.
• Total fiscal 2026 year-to-date capital return and debt reduction reached $30.9 million.
• The Company reported a 90% revenue retention rate for the trailing 12 months ended September 30, 2026.
• The Company hosts a conference call and webcast on October 29, 2026, at 5:00 p.m. Eastern Time to discuss results.