Rimini Street (NASDAQ:RMNI) held its first-quarter earnings conference call on Thursday. Below is the complete transcript from the call.
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Summary
Rimini Street Inc reported a Q1 2026 revenue of $105.5 million, a 1.2% increase year-over-year, with a 5.2% increase excluding PeopleSoft products.
The company closed 11 new client transactions with over $1 million in TCV, totaling $33 million, significantly higher than the previous year’s $5.6 million.
Rimini Street Inc is investing in its agentic AI ERP solutions and expanding its sales team, which has grown to over 80 sellers.
The company has a positive outlook with a revenue growth guidance of 4-6% for 2026 and adjusted EBITDA margins in the 12.5-15.5% range.
CEO Seth Raven highlighted a shift towards longer-term contracts and a strategic focus on helping clients modernize existing systems with AI solutions, avoiding vendor upgrades.
Net income for the first quarter was $1.4 million, with adjusted EBITDA at $8.9 million, reflecting a decrease from the prior year due to increased investments.
The company reported a strong cash position with $132.2 million as of March 31, 2026, and made a $10 million voluntary debt prepayment.
Rimini Street Inc continues to wind down its support for Oracle’s PeopleSoft software, with related revenue decreasing from 8% to 3% of total revenue.
Full Transcript
OPERATOR
Good afternoon ladies and gentlemen and welcome to the Rimini Street Q1 2026 earnings conference call. At this time, all lines are in a listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, April 30, 2026. I will now turn the call over to Dean Paul, Vice President, Treasurer, and Head of Investor Relations. Please go ahead.
Dean Paul (Vice President, Treasurer and Head of Investor Relations)
Thank you operator. I’d like to welcome everyone to Rimini Street’s fiscal first quarter 2026 earnings conference call. On the call with me today is Seth Ravin, our CEO and President and Michael Perica, our CFO. Today we issued our earnings press release for the first quarter ending March 31, 2026, copy of which can be found on our website under the Investor Relations section. A reconciliation of GAAP to non GAAP financial measures has been provided in the tables following the financial statements in the press release. An explanation of these measures and why we believe they are meaningful is also included in the press release and our website under the heading about non GAAP Financial Measures and certain Key Metrics. As a reminder, today’s discussion will include forward looking statements about our operations that reflect our current outlook. These forward looking statements are subject to risks and uncertainties that may cause results to differ materially from statements made today. We encourage you to review our most recent SEC filings, including our Form 10Q filed today for a discussion of risks that may affect our future results or stock price. Now, before taking questions, we will begin with prepared remarks. With that, I’d like to turn the call over to Seth.
Seth Ravin
Thank you Dean and thank you everyone for joining us. First Quarter Results Our first quarter results reflect continued growth and accelerating momentum. A growing number of organizations are leveraging Rimini support and our proven Rimini smart path to execute their global ERP and operational transaction processes Faster, better and cheaper with more agility and speed to value all within existing budgets. Rimini street can help just about any organization lower its total operating costs and improve competitive advantage or improve return for government constituents. Using technology we delivered strong growth in adjusted calculated billings and adjusted ARR and expanded remaining performance obligations year over year adjusted for the Oracle PeopleSoft support and services wind down and which includes new logo and renewal subscription sales. We also continued to make additional strategic investments in our next generation. our Rimini Agentic AI ERP solutions that can be quickly deployed over existing ERP software without the cost or risk of unnecessary upgrades, migrations or replatforming during the quarter, we closed 11 new client transactions with a total contract value (TCV) of over $1 million and totaling $33 million, compared to five transactions totaling $5.6 million during the same period. We added 50 new logos that included household, global and regional Brand wins. The combined strength of the second half of 2025 and first quarter 2026 results give us continued confidence in delivering growth in fiscal 2026, positioning the company for increased growth and profitability. We are continuing our evolution beyond our position as the premier third party enterprise software support provider to a leader in also helping clients modernize their existing business transaction systems in the AI era. We are now the software support and agentic AI ERP company Today, more than 1900 Rimini street employees in 22 countries, helping organizations avoid unnecessary, costly and risky ERP and other enterprise software upgrades, migrations and replatformings that often deliver low ROI and offer little competitive advantage. Instead, organizations can invest in modernization of their existing systems, leveraging Next Generation Rimini AgentIQ AI ERP Solutions and that can be quickly and economically deployed over their current ERP and other enterprise software and deliver real competitive advantage. We believe we can help organizations achieve significant IT operating cost savings, improve profitability, enhance competitive advantage and accelerate growth. Our clients have already realized over $10 billion in operational savings. Rimini street leads in the Gentiq AI erp. We are helping clients set a new vision, technical and functional path forward from their current vendor ERP software release. A path does not require any return to the vendor for a future upgrade or migration to their current ERP software release in order to achieve innovation and modernization. The client can innovate and modernize their existing ERP software and other enterprise software using agentic AI ERP solutions deployed easily economically right over the top of their existing software releases. The Rimini Smart Path is our proprietary, proven three-step methodology that clients can use to self fund and accelerate innovation, especially AI and automation without undergoing costly, risky or unnecessary ERP upgrades or rip and replace migrations by leveraging and modernizing existing IT environments, all without operational disruption.
Seth Ravin
Rimini AgentIQ UX is our AI driven experience and automation layer that is deployed right over existing client ERP software and turns their ERP software from a static system of record into an autonomous system of action, delivering innovation and modernization in weeks, not years and at a fraction of the cost of a major upgrade, migration or replatforming project. Client Success Stories Rimini street is helping clients across many industries, geographies and software protect and optimize their core ERP systems while funding innovation and modernization, including fixing broken processes, automating workflows and functions, and using AI to solve
Seth Ravin
specific business challenges without disruptive, costly or risky ERP software upgrade, migrations or replatforming. Here are a few examples of how Rimini street solutions for SAP, Oracle and VMware software enabling innovation, transforming and improved competitive advantage for clients Cubic Corporation, a US Defense and transportation technology company, said that partnering with Rimini street allowed them to gain full control of their SAP roadmap, avoid a costly S4 HANA upgrade and reallocate savings in internal capacity towards automation, AI and broader modernization initiatives.
Seth Ravin
Flexitec, a French automotive products company, said that they chose Rimini Support to help reduce risk and operational disruption in its SAP environment, strengthening cybersecurity posture and accelerating compliance readiness while enabling the reallocation of savings towards R and D and modernization programs. Clean Era, a South Korean paper and hygiene products company, said they were able to cut SAP and Oracle vendor maintenance costs by approximately 50% with Rimini street stabilizing their core ERP environment and freeing budget and talent to accelerate AI analytics, filed expansion and IOT driven operational improvements. Elmort, a Brazilian industrial company, said that unifying support across VMware and SAP with Rimini street created the opportunity to increase operational stability and security while redirecting budget internal resources from maintenance to sustainability and growth initiatives, Partners, Alliances and Channels we continued strengthening and maturing our indirect sales ecosystem including adding new partner managers for strategic technology services and channel relationships.
Seth Ravin
During the quarter we closed accretive sales transactions globally that we do not believe we would have otherwise closed without partners. These partnerships extend our reach, bring complementary expertise and help clients execute modernization strategies that combine Rimini street support with world class platforms, cloud services and AI tooling. The ecosystem is becoming a strategic multiplier for us, accelerating adoption, expanding influence and enabling shared go to market opportunities. Summary we are focused on accelerating growth, improving profitability and delivering shareholder return. We plan to leverage Rimini Street’s proprietary, unique and proven smart path methodology, service portfolio and capabilities to help a growing list of clients take back control of their technology roadmap and spending and successfully navigate business and technical complexity in the age of AI. Now over to you Michael.
Michael Perica
Thank you Seth and thank you for joining us everyone. Q1 results Our first quarter results reflect solid execution and continued signs of momentum highlighted by remaining performance obligations, RPO and billings growth along with a return to top line growth. Despite the headwinds from the wind down of support and services for Oracle’s PeopleSoft software, our strong operating cash flow and cash position enabled us to comfortably make $10 million of additional voluntary principal prepayments that reduced our debt balance to $58.4 million and increased our net cash position to $73.8 million at the end of the …
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