Welcome to our dedicated page for Rimini Street news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street stock.
Corporate Overview
Rimini Street (RMNI) is an independent provider specializing in end-to-end enterprise software support. Established in 2005, the company offers an extensive range of services that enable clients to run, manage, support, customize, configure, connect, protect, monitor, and optimize their enterprise applications encompassing both Oracle and SAP systems. Leveraging a subscription-based model, Rimini Street delivers cost-effective support programs that challenge traditional vendor-based support fees, which has resonated strongly with IT executives, including CIOs and CFOs, particularly in a landscape characterized by tight IT budgets and increasing cost pressures.
Service Offerings and Business Model
At its core, Rimini Street's business model is built on delivering comprehensive support solutions designed to replace the more expensive annual support contracts offered by the original software vendors. The company provides a unified family of support services for enterprise resource planning (ERP), customer relationship management (CRM), product lifecycle management, and various technology software systems. This approach enables client companies to access award-winning support services without the burden of escalating traditional fees. By offering a subscription model, Rimini Street ensures predictable and scalable cost structures while maintaining a focus on quality and continuity in service delivery.
Operational Excellence and Market Position
Rimini Street is recognized for its rigorous operational standards and a well-honed support methodology that distinguishes it within the competitive landscape. The company’s service model is driven by in-depth technical expertise, comprehensive maintenance protocols, and proactive risk management practices aimed at maximizing the performance of enterprise software environments. Its offerings are underpinned by extensive industry knowledge and a commitment to addressing the ever-evolving challenges faced by modern businesses. Widely acknowledged by prominent industry analysts and independent research organizations, the company has consistently been identified as a credible and robust alternative in the enterprise software support market.
Industry Recognition and Client Base
Over the years, Rimini Street has built a reputation for its innovative approach to software support and has attracted a diverse clientele that spans across both domestic and international markets. Its business model, recognized by industry analysts at firms such as Gartner, Forrester, and Nucleus, emphasizes a value proposition centered on cost-efficiency, enhanced service quality, and strategic IT flexibility. This recognition is a testament to the company’s ability to adapt to evolving market demands while maintaining a focus on core operational strengths and customer satisfaction.
Comprehensive Support Solutions
The portfolio of services offered by Rimini Street extends far beyond simple maintenance. The company integrates customization, configuration, and optimization services into a unified support framework that helps clients sustain and improve the performance of their enterprise applications. This holistic view of support not only ensures immediate operational continuity but also contributes to long-term IT resilience for its clients. By focusing on a collaborative, client-centered approach, Rimini Street addresses both current challenges and complex IT landscape requirements with precision and reliability.
Global Reach and Client-Centric Approach
While a significant portion of Rimini Street’s revenue is generated within the United States, the company has also established a credible presence in various international markets. Its ability to tailor support services to meet the diverse needs of clients across different regions speaks to the versatility and adaptability of its business model. The company’s focus on creating deep, long-term partnerships is evident in its commitment to consistent service delivery and the strategic management of enterprise application environments on a global scale.
Key Industry Keywords and Insights
In discussing Rimini Street, it is essential to highlight industry-specific terms such as enterprise software support, subscription-based service, and cost-effective IT optimization. These keywords not only underscore the operational focus of the company but also illustrate its role in a broader market context where businesses increasingly seek innovative ways to manage software environments while mitigating rising costs.
Competitive Landscape and Value Proposition
- Cost Efficiency: By offering support at approximately half the cost of traditional vendor support fees, Rimini Street presents a compelling value proposition for organizations looking to optimize their IT budgets.
- Technical Expertise: The company’s deep-rooted technical knowledge and strong support framework enable it to address complex software maintenance challenges, ensuring high-quality service delivery.
- Client Focus: With a robust international client base, Rimini Street’s approach is characterized by proactive customer engagement and a tailored service model designed to meet the unique needs of each organization.
- Industry Recognition: The consistent acknowledgment by independent industry analysts and research firms reinforces the company’s authority and trustworthiness in the enterprise software support market.
Understanding the Business Impact
For organizations that rely heavily on enterprise software applications, Rimini Street’s service offerings provide a strategic advantage by ensuring system stability, operational continuity, and a cost-effective alternative to traditional support contracts. The comprehensive nature of its services and the company’s proactive approach to support make it a critical component for enterprises aiming to maintain competitive operational efficiency in a challenging economic climate.
Rimini Street (NASDAQ: RMNI) has announced its entry as a Workday Application Management Services (AMS) Partner, launching Rimini Manage™ for Workday services with immediate availability. The service will support Workday Financial Management, Human Capital Management (HCM), and Adaptive Planning solutions.
The new offering leverages Rimini Street's global service delivery model, featuring 24/7/365 support with engineers across 20+ countries. The service aims to help organizations streamline Workday operations, address staffing challenges, and improve business outcomes while enabling IT teams to focus on strategic initiatives like enterprise AI and automation.
According to Valoir analyst Rebecca Wettemann, this partnership addresses the critical challenge of recruiting and maintaining Workday support staff. Workday's Group VP of Global Partner Sales, Rogerio Almeida, highlighted that Rimini Street's expertise will help customers optimize their Workday environments and achieve greater efficiency.
Rimini Street (Nasdaq: RMNI), a leading third-party software support provider for Oracle, SAP and VMware, has achieved multiple consecutive Great Place to Work® certifications across multiple regions including Israel, Japan, Singapore, UK and USA. The company's CEO, Seth Ravin, was also awarded Best Workplaces™ Korea's Most Respected CEO award.
Employee surveys revealed exceptional satisfaction rates: 100% of Singapore and UK employees felt welcome upon joining, while 98% in Japan and 96% in Israel reported fair treatment regardless of age. Gender equality scored highly with 100% in Singapore and 98% in Japan, while racial fairness reached 96% in Israel and Japan.
Additional survey highlights showed 95% of UK employees having open conversations with management, 92% of USA staff feeling positive about community contributions, and 91% satisfied with time-off flexibility.
Rimini Street (NASDAQ: RMNI) has announced a strategic partnership with T-Systems North America to provide comprehensive enterprise software support and hosting solutions. The collaboration combines Rimini Street's expertise in software support for SAP, Oracle, VMware, and other enterprise products with T-Systems' hosting and cloud infrastructure managed services.
The partnership aims to help organizations reduce total IT costs, extend the lifespan of current software releases, and implement advanced enterprise AI and automation capabilities without requiring upgrades, migrations, or additional IT budget. Both companies bring nearly twenty years of experience in their respective fields.
This integrated approach will deliver full-stack enterprise IT solutions, offering clients enhanced software support, managed services, and hosting solutions while providing alternative roadmaps for digital transformation. The alliance focuses on helping organizations optimize technology investments while maintaining high service quality and infrastructure expertise.
Rimini Street (NASDAQ: RMNI) reported its Q4 and full-year 2024 financial results. Q4 revenue reached $114.2 million, up 1.9% year-over-year, with improved gross margin of 63.7% compared to 61.0% in the prior year. International revenue grew 10.5% to $61.1 million, while U.S. revenue declined 6.5% to $53.1 million.
The company maintained a strong subscription-based model with 95.5% of revenue from subscriptions. Active clients increased 1.4% to 3,081, though revenue retention rate decreased to 88%. Q4 operating income was $14.9 million with net income of $6.7 million.
For full-year 2024, revenue slightly decreased 0.6% to $428.8 million, with a gross margin of 60.9%. The company reported a net loss of $36.3 million for 2024 compared to net income of $26.1 million in 2023. Notable developments include a new partnership with ServiceNow and expansion of Rimini Protect and Rimini Connect solutions.
Rimini Street (Nasdaq: RMNI) has announced a $100,000 RMNI LOVE Charitable Grant Giveaway to celebrate the 10th anniversary of its Rimini Street Foundation. The initiative will award ten $10,000 grants to registered charities in selected cities worldwide throughout 2025.
The Foundation, established in 2015, is a self-funded philanthropic program that has partnered with 550 global charitable organizations. The grant program follows the company's 'Follow-the-Sun' model, previously implemented in Las Vegas (2022), Tokyo (2023), and London (2024).
For the 2025 program, eligible charities from ten cities can apply: Denver, Houston, Kyoto, Manila, Melbourne, Paris, São Paulo, Seoul, Taipei, and Toronto. The application period runs from February 10 to March 9, 2025. The program is managed by a Global Steering Committee and governed by employees representing Rimini Street's diverse culture.
Rimini Street (Nasdaq: RMNI), a global provider of enterprise software support solutions and leading third-party support provider for Oracle, SAP, and VMware software, has announced its upcoming earnings release. The company will report its fourth quarter and fiscal year 2024 financial results after market close on February 27, 2025.
A conference call and webcast will be held on the same day at 5:00 p.m. Eastern / 2:00 p.m. Pacific time to discuss the results and provide the 2025 outlook. Investors can access the live webcast through Rimini Street's Investor Relations site or dial in at 1-800-836-8184. A replay of the webcast will be available for one year after the event.
Rimini Street (Nasdaq: RMNI) has announced the general availability of Rimini Protect™ Advanced Hypervisor Security (AHS), powered by Vali Cyber® AI/ML security technology. The solution is designed to protect VMware ESXi, Nutanix, and all Linux-based hypervisors against ransomware and security vulnerabilities.
The announcement comes amid rising ransomware attacks, with victim numbers increasing 43% from Q3 to Q4 2024 and 47% year-over-year. Ransomware payments have surged from $199,000 in early 2023 to $1.5 million in June 2024.
Key features of Rimini Protect AHS include AI/ML technology for runtime protection, Multi-Factor Authentication (MFA), and Process Control to prevent attacks from escaping designated environments. The solution is supported by Rimini Street's Global Security Services team, available 24/7/365.
Rimini Street (NASDAQ: RMNI), a leading third-party software support provider for Oracle, SAP, and VMware, has received multiple industry awards highlighting its service excellence and client satisfaction. The company won the Trust Radius 2025 Buyer's Choice Award based on customer reviews in capabilities, value, and customer relationship.
The company also secured a Silver Globee Award for Customer Service Department of the Year and a Gold Globee Award for Customer Service Executive of the Year, with Craig Mackereth recognized for improving client satisfaction and response rates. Rimini Street's AI-powered tools enable 23% faster issue resolution with sub-two-minute response averages.
Additionally, Rimini Street received a Gold Merit Award in the Consulting Category for Technology, particularly noted for its VMware support services launched in May 2024 in response to challenges arising from Broadcom's VMware acquisition.
A new survey conducted by Rimini Street (NASDAQ: RMNI) in Q3 2024 reveals significant insights into VMware customers' perspectives following Broadcom's acquisition. The study, which surveyed over 110 VMware customers, shows that 79% are satisfied with their current perpetual licenses, and 99% would consider continuing to use their current software if support was available.
Key findings indicate that 98% of respondents are exploring VMware alternatives for at least part of their infrastructure, while 92% expect price increases within 18 months. The survey also highlights that 71% of respondents see cloud-native solutions as the primary influence on the hypervisor market, with 70% citing AI as a major impact.
Rimini Street (Nasdaq: RMNI) has launched Rimini Connect™ Console, a centralized management tool for its interoperability solutions suite. The console provides single-pane-of-glass configuration and monitoring capabilities, initially available for Rimini Connect™ for Browsers. Key features include simplified monitoring, real-time deployment visibility, in-depth log analysis, and streamlined administration tasks. The solution helps organizations avoid costly upgrades while maintaining compatibility with modern technology stacks.
The announcement highlights Officeworks, an Australian retailer, as a success case, where Rimini Connect for Browsers enabled seamless transition during Microsoft's Internet Explorer 11 retirement without business interruption.
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