Rimini Street(RMNI)2025-05-01 20:03Financial Performance - Gross margin for Q1 2025 was 61.0%, up from 59.8% in the prior year[5] - Net income for Q1 2025 was 1.3 million in the prior year[5] - Revenue for Q1 2025 was 106.7 million in the same period last year[5] - Total revenue for Q1 2025 was 106,745 in Q1 2024[19] - Gross profit for Q1 2025 was 63,831 in Q1 2024[19] - Operating income increased significantly to 3,363 in Q1 2024, representing a 178.5% increase[19] - Net income for Q1 2025 was 1,317 in Q1 2024, marking a 153.5% increase[19] - Non-GAAP operating income for Q1 2025 was 8,847 in Q1 2024, reflecting a 63.5% increase[21] - Adjusted EBITDA for Q1 2025 was 10.7 million in the prior year[5] - Adjusted EBITDA for Q1 2025 was 10,684 in Q1 2024, indicating a 43.5% increase[21] Revenue Composition - Subscription revenue accounted for 95.0% of total revenue in Q1 2025, down from 97.4% in the prior year[5] - Annualized Recurring Revenue decreased by 4.7% to 415.8 million in the same period last year[5] - Annualized Recurring Revenue is calculated based on subscription revenue recognized during the quarter, providing insight into future revenue potential[27] Client Metrics - Active clients increased by 1.7% to 3,092 as of March 31, 2025[5] - Active clients increased, indicating growth in the company's business and effectiveness of sales and marketing strategies[26] Billings and Deferred Revenue - Billings increased by 7.2% year over year to 79,430 for Q1 2025, an increase from 256,423, compared to $254,306 at the end of Q1 2024, showing a positive trend in revenue recognition[21] Guidance and Litigation - The company is suspending guidance until there is more clarity around impacts from ongoing litigation with Oracle[6] Revenue Retention - Revenue retention rate was 88% for the trailing twelve months ended March 31, 2025, down from 89% for the comparable period[5]