UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2024 ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period from to Commission File Number 001-37397 Rimini Street, Inc. (Exact name of registrant as specified in its charter) Delaware 36-4880301 (State or other jurisdiction of inc ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $104.7 million, a year-over-year decrease of 2.6% [18] - Annualized recurring revenue was $401.5 million, a year-over-year decrease of 3.6% [18] - Billings for Q3 2024 were $65.2 million, an increase of 7.7% compared to $60.5 million in the prior year [19] - Gross margin was 60.7% of revenue, down from 62.7% in the prior year, but increased 160 basis points sequentially [19] - Net loss attributable to shareholders was negative $43.1 million, or negative $0.47 per diluted share, compared to net income of $0.08 per diluted share in the prior year [23] Business Line Data and Key Metrics Changes - The company achieved 19 new client sales transactions in the quarter with total contract value over one million [12] - Revenue related to Oracle PeopleSoft products accounted for approximately $24.9 million, or 8% of revenue, for the first nine months of 2024 [25] - The company is winding down services for Oracle PeopleSoft products, which is expected to lead to significant revenue reductions over time [25] Market Data and Key Metrics Changes - Clients within the United States represented 49% of total revenue, while international clients represented 51% for Q3 2024 [18] - Billings improvements were led by the North America and Asia Pacific regions [13] Company Strategy and Development Direction - The company has formed a strategic partnership with ServiceNow to provide a unified intelligent platform for enterprise software modernization [9] - The partnership aims to deliver an exclusive enterprise application modernization and AI solution without requiring costly upgrades or migrations [9][10] - The company is focused on optimizing costs and enhancing shareholder value while navigating ongoing litigation with Oracle [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the actions taken to return to growth and profitability, despite challenges from Oracle litigation [17] - The company is continuing to suspend guidance on future financial results until there is more clarity regarding litigation impacts [26] - Management noted that the business is showing signs of stabilization and potential growth, particularly in North America [45] Other Important Information - The company has achieved approximately $14.9 million of net annualized reductions in operating costs as part of a cost optimization plan [20] - The company paid Oracle $58.5 million in compliance with a court order related to ongoing litigation [15][22] Q&A Session Summary Question: Completion of cost-cutting objectives - Management plans to complete the cost-cutting plan by the end of Q4 2024 [28] Question: Clarification on ServiceNow partnership - Rimini Street will handle all work related to the ServiceNow layer, integrating it with existing products [30] Question: Revenue expectations for new offerings - The ramp-up for new offerings is expected to take time, with initial sales discussions already underway [31] Question: Impact of new services on gross margin - New offerings typically have lower gross margins initially, but management is focused on maintaining acceptable margins [35] Question: Cash flow challenges - Cash flow patterns show typical burn in the second half of the year, exacerbated by the recent payment to Oracle [36] Question: Billings growth in Q4 - Management is optimistic about achieving positive billings growth in Q4 based on current pipeline strength [39] Question: Customer retention trends - Management indicated that retention numbers have stabilized, with potential for positive revenue growth when excluding certain one-time events [44] Question: Sales headcount strategy - The sales team has been restructured to focus on new logo acquisition, with a split between new sales and cross-selling [71] Question: Customer reaction to ServiceNow offering - Customer feedback has been positive, with interest in the ability to modernize systems without major upgrades [53]

Rimini Street (RMNI) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 214.29%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.07, delivering a surprise of -30%.Over the last four quarters, the company has ...

Revenue Performance - Revenue for Q3 2024 was $104.7 million, a decrease of 2.6% from $107.5 million in Q3 2023[2] - U.S. revenue decreased by 7.4% to $51.6 million, while international revenue increased by 2.7% to $53.1 million[2] - Subscription revenue accounted for 95.9% of total revenue at $100.4 million, down from 96.9% at $104.1 million in the prior year[2] - Revenue for Q3 2024 was $104.672 million, a decrease of 2.3% from $107.453 million in Q3 2023[13] Client Metrics - Active Clients as of September 30, 2024, were 3,097, a slight decrease of 0.1% from 3,099 clients a year earlier[2] - Active Clients are defined as distinct entities purchasing services, indicating business growth and sales success[18] Financial Losses - Operating loss for Q3 2024 was $49.6 million, compared to an operating income of $11.2 million in Q3 2023[2] - Net loss for Q3 2024 was $43.1 million, compared to net income of $6.8 million in the same period last year[2] - Net loss for Q3 2024 was $43.100 million, compared to a net income of $6.801 million in Q3 2023[13] Revenue Retention and Recurring Revenue - Annualized Recurring Revenue was $401.5 million, a decrease of 3.6% from $416.3 million in Q3 2023[2] - Revenue Retention Rate dropped to 89% from 94% in the previous year[2] - Revenue Retention Rate measures subscription revenue from existing clients over a 12-month period, providing insight into client retention[20] - Annualized Recurring Revenue is calculated by multiplying quarterly subscription revenue by four, indicating potential revenue for the next 12 months[19] Operating Expenses and Profitability - Total operating expenses increased significantly to $113.131 million in Q3 2024, compared to $56.104 million in Q3 2023[13] - Gross profit for Q3 2024 was $63.537 million, down from $67.343 million in Q3 2023, reflecting a gross margin of 60.7%[13] - Non-GAAP operating income for Q3 2024 was $13.402 million, down from $16.497 million in Q3 2023[14] - Adjusted EBITDA for Q3 2024 was $13.677 million, compared to $18.239 million in Q3 2023[14] Cost Management and Reorganization - The company incurred reorganization costs of $1.4 million in Q3 2024 as part of its cost optimization efforts[2] - Reorganization costs primarily consist of severance costs related to the company's restructuring efforts[24] Litigation Costs - The company reported a significant increase in litigation costs, totaling $59.391 million in Q3 2024, compared to $2.127 million in Q3 2023[13] Cash and Liabilities - Cash and cash equivalents increased to $119.494 million as of September 30, 2024, from $115.424 million at the end of 2023[12] - Total current liabilities decreased to $322.468 million from $336.434 million at the end of 2023[12] - Deferred revenue, current and noncurrent, at the end of Q3 2024 was $223.314 million, down from $238.399 million at the end of Q3 2023[14] Non-GAAP Financial Measures - Rimini Street reported key non-GAAP financial measures including non-GAAP operating income, non-GAAP net income, EBITDA, Adjusted EBITDA, and Billings[15] - Non-GAAP Operating Income excludes litigation costs, stock-based compensation, and reorganization costs, reflecting core operational performance[21] - Adjusted EBITDA excludes litigation costs, stock-based compensation, and reorganization costs, providing a clearer view of operational profitability[24] - The company emphasizes the importance of non-GAAP measures for consistent performance evaluation across reporting periods[16] Billings and Cash Flow - Billings represent the change in deferred revenue plus current period revenue, indicating cash flow dynamics[17] Compensation Strategy - The company’s compensation strategy includes stock-based compensation to align employee interests with shareholders[23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 001-37397 Rimini Street, Inc. (Exact name of registrant as specified in its charter) Delaware 36-4880301 | --- | --- | |---------- ...

Core Viewpoint - Rimini Street, Inc. (RMNI) is experiencing undervaluation despite reporting recurrent revenue, a diverse client base, and international growth opportunities. The company has announced a stock repurchase program which may enhance stock demand and lower capital costs [1][6][20]. Group 1: Financial Performance - As of June 30, 2024, RMNI reported annualized recurring revenue of $399 million, with a market capitalization below $300 million. The company has over 3,000 active clients, including 74 Fortune 500 companies [3][4]. - The company has positive free cash flow and net income, with a conservative forecast suggesting significant undervaluation [1][3]. - The expected EPS growth for the year ending 2025 is projected at 5.7% year-over-year [2]. Group 2: Business Model and Client Base - RMNI offers a portfolio of enterprise software solutions and managed services, including partnerships with major vendors like SAP, IBM, and Salesforce. The company aims to optimize clients' technologies through its Rimini ONE service [2][3]. - The client base is well-diversified, with a significant portion of revenue generated from international markets. Approximately 50% of revenue comes from the United States, with the remainder from foreign jurisdictions [4][20]. Group 3: Strategic Initiatives - The company is reallocating resources and optimizing its cost structure, which may enhance future net profit margins. This includes ceasing services for Oracle PeopleSoft products, which accounted for 8% of total revenue in 2023 [5][20]. - RMNI has authorized an increase in its stock repurchase program from $15 million to $50 million over the next four years, which could lower the weighted average cost of capital (WACC) and potentially increase stock prices [6][7]. Group 4: Risks and Challenges - Ongoing litigation with Oracle poses risks, including potential fines and impacts on net income growth. The company has faced lawsuits for over ten years, but fines have been relatively small [15][16]. - Changes in pricing agreements with enterprise software vendors could negatively affect revenue and free cash flow margins. The company may need to adjust pricing models in response to competitive pressures [18][20]. - The sale of shares by a large shareholder could increase market volatility and downward pressure on stock prices, which may deter potential investors [19][20].

Rimini Street, Inc. (NASDAQ:RMNI) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Dean Pohl - VP, Treasurer and IR Seth Ravin - President and CEO Michael Perica - CFO Conference Call Participants Brian Kinstlinger - Alliance Global Partners Operator Good afternoon ladies and gentlemen and welcome to the Rimini Street Q2 2024 Earnings Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we'll conduct a question-and-answer session. [Opera ...

Rimini Street (RMNI) came out with quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -30%. A quarter ago, it was expected that this company would post earnings of $0.12 per share when it actually produced earnings of $0.07, delivering a surprise of -41.67%. Over the last four quarters, the company h ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Rimini Street Announces Fiscal Second Quarter 2024 Financial and Operating Results LAS VEGAS, July 31, 2024 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced results for the fiscal second quarter ended June 30, 2024. Rimini Street will host a conference call and webcast to discuss the ...

In general, investments with original maturities of greater than three months and remaining maturities of less than one year are classified as short-term investments. Debt investments are classified as available-for-sale and gains and losses are recorded using the specific identification method. Changes in fair value are recorded in the operating statement. Fair value is calculated based on publicly available market information. To estimate fair value for the Company's interest rate swap agreement as of Jun ...