Welcome to our dedicated page for Rimini Street (DE) news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street (DE) stock.
Rimini Street, Inc., established in 2005, is a pioneering independent provider of enterprise software support services. The company specializes in offering third-party support for Oracle and SAP enterprise software, significantly reducing annual support fees by 50% compared to traditional support programs. Rimini Street’s support services are not only cost-effective but also award-winning, making them a preferred choice for organizations looking to optimize their IT budgets without compromising service quality.
Rimini Street’s comprehensive support solutions enable clients to efficiently run, manage, support, customize, configure, connect, protect, monitor, and optimize their enterprise applications, databases, and technology software platforms. The company’s product portfolio includes support for Oracle E-Business Suite, Oracle Database, PeopleSoft, and SAP Business Suite, among others.
The company is widely recognized by clients and industry analysts such as Gartner, Forrester, and Nucleus for its leadership in a rapidly growing market. Rimini Street has an impressive client base nearing 1,000 clients, showcasing its accelerating growth and strong market presence. The company has also been acknowledged in various industry recognitions, including being named to CIO UK’s “20 Companies to Watch in 2012” hotlist.
With a solid value proposition that resonates with CIOs and CFOs, particularly in an environment of tight IT budgets and flat global economic growth, Rimini Street provides proven methods to cut costs while enhancing service levels. This unique positioning creates a significant market opportunity with tens of thousands of qualified target prospects.
Rimini Street’s financial health is bolstered by its growing client base and revenue streams, predominantly derived from the United States. The company continues to expand its market reach and enhance its service offerings, making it a formidable player in the enterprise software support industry.
Rimini Street, Inc. (NASDAQ: RMNI), a leader in enterprise software support and services, has announced its participation in upcoming investor conferences. The presentations will take place on:
April 27, 2023 : Ladenburg Thalmann Technology Expo, NYCMay 17, 2023 : Needham 18th Annual Technology & Media Conference, NYC at 3:00 PM ETMay 31, 2023 : Craig-Hallum 20th Annual Institutional Investor Conference, MinneapolisJune 1, 2023 : TD Cowen 51st Annual Technology, Media & Telecom Conference, NYC at 11:25 AM ET
Investors can access presentations via webcasts and schedule one-on-one meetings with company representatives.
Rimini Street, Inc. (NASDAQ: RMNI) announced it will report its earnings after the market closes on May 3, 2023. The company will host a conference call and webcast at 5:00 p.m. Eastern / 2:00 p.m. Pacific to discuss the first quarter results and future outlook. Rimini Street provides comprehensive software support services, particularly for Oracle and SAP products, and partners with Salesforce and AWS. It serves over 5,000 clients, including Fortune 500 companies, enabling them to reduce costs and enhance business efficiency. Investors can access the live webcast through the company's Investor Relations site.
Rimini Street (NASDAQ: RMNI) announces that Daekyo, South Korea's leading education service, has expanded their Rimini Support services to include SAP, in addition to Oracle products. This shift is expected to optimize Daekyo's IT budget and improve operational efficiency. Since 2018, Daekyo has benefitted from Rimini's cost-effective support solutions, achieving up to 90% savings on support costs while maintaining a high service level with a 10-minute response time. The partnership will enable Daekyo to focus on digital transformation and enhance its competitive position in the edu-tech market.
Rimini Street (NASDAQ: RMNI) announced that GE Lighting, a Savant company, has chosen Rimini Watch™ for Change Management to replace its existing SAP ChaRM system. This transition aims to enhance operational efficiency and drive cost savings. GE Lighting cited the need for a more flexible and valuable change management system, focusing on approval processes, change collision insights, and historical data migration. The switch has already demonstrated reduced internal friction, allowing GE Lighting to reallocate resources towards strategic initiatives in the smart home market, underscoring a productive partnership with Rimini Street.
Rimini Street (Nasdaq: RMNI) has launched Rimini ONE™, an integrated outsourcing service program aimed at simplifying enterprise software management. Over 100 clients are already benefiting from this service, which promises to reduce total costs, extend the life of software releases without mandatory upgrades, and allow reallocating resources to innovation projects. The program addresses staffing challenges and offers various managed services including support for Oracle, SAP, and other applications. It aims to deliver faster, comprehensive IT solutions from a single provider, contributing to competitive advantage and growth.
Rimini Street, Inc. (NASDAQ: RMNI) announced the successful upgrade of Clifford Hallam Healthcare's SAP BusinessObjects from version 4.1 to 4.2, enhancing business operations. CH2, Australia's only fully integrated medical distributor, has relied on Rimini's support since 2019. The upgrade improves security, reporting speed, and data confidence, aiding compliance with federal programs. Rimini Consult™ provided tailored support, helping CH2 achieve its aggressive business goals. This collaboration marks a significant step in leveraging technology for better operational efficiency.
Rimini Street (Nasdaq: RMNI) reported its fourth quarter and full year 2022 results, with quarterly revenue of $108.6 million, up 9.4% year-over-year. Fiscal year revenue reached $409.7 million, also up 9.4%. However, billings for the fiscal year dipped 2.0% to $409.3 million, while the quarterly gross margin declined to 64.5% from 65.1% year-over-year. The company reported a net loss of $5.3 million for Q4, a stark contrast to a net income of $70.1 million in Q4 2021. They expect Q1 2023 revenue between $101 million and $103 million and guidance for full-year 2023 revenue of $420 million to $430 million.
Rimini Street, Inc. (NASDAQ: RMNI), a leading provider of enterprise software support, has launched Rimini Consult, a new suite of professional services designed to enhance Oracle, SAP, and Salesforce systems. This initiative aims to improve software customization, integration, migration, and digital transformation for clients. The services are backed by a team of over 800 engineers, providing 24/7 support with an average response time of under two minutes. Rimini Street's past projects have delivered considerable success, emphasizing their commitment to maximizing software value and innovation for organizations.
Rimini Street, Inc. (Nasdaq: RMNI) has launched Rimini Watch™, a suite of proactive observability solutions designed to improve the performance and continuity of Oracle and SAP applications and databases. This offering combines monitoring, health checks, and change management capabilities to address downtime and operational inefficiencies. Key features include proactive monitoring of applications and databases, enhanced change management processes, and 24/7 expert support. Rimini Watch is aimed at reducing operational costs and ensuring business continuity for enterprises relying on complex software infrastructures.
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