Rimini Street, Inc. , a leading global provider of end-to-end support and innovation solutions for enterprise software, today announced its first quarter 2025 financial results. Despite a slight revenue decline, the company significantly increased its profitability and won important new customers and partnerships. The results underscore Rimini Street’s focus on efficiency, innovation, and customer-centric growth.
Financial figures Q1 2025 at a glance:
- Sales development:
- Total revenue: USD 104.2 million (-2.4% compared to Q1 2024)
- US sales: USD 50.1 million (–6.9%)
- International sales: USD 54.1 million (+2.2%)
- Recurring Revenue & Subscriptions:
- Subscription revenue: USD 99.0 million (95% of total revenue)
- Annual recurring revenue: USD 396.2 million (-4.7%)
- Profitability and efficiency gains:
- Gross margin: 61.0% (+1.2 pp compared to previous year)
- Operating profit (GAAP): USD 9.4 million (Q1 2024: USD 3.4 million)
- Non-GAAP operating income: USD 14.5 million (Q1 2024: USD 8.8 million)
- Adjusted EBITDA: USD 15.3 million (Q1 2024: USD 10.7 million)
- Net income (GAAP): USD 3.4 million (Q1 2024: USD 1.3 million)
- Further figures:
- Active customers: 3,092 (+1.7%)
- Sales retention rate: 88%
- Cash and cash equivalents: USD 122.6 million
Strategic highlights and partnerships:
- New customers & contract extensions:
- Pan Ocean : Simplify Oracle support and avoid expensive cloud migration.
- Hitachi Vantara : Switch to Rimini for better Oracle support and cost reduction.
- New strategic alliances:
- Workday : Partnership to deliver application management services through Rimini Manage™ .
- T-Systems North America : Joint IT support approach to optimize technology investments and cloud usage.
- Product innovations:
- Introducing Rimini Protect™ Advanced Hypervisor Security , powered by AI/ML technology from Vali Cyber , to combat ransomware.
Operational successes & awards:
- 7,200 support tickets closed, 10,000 regulatory updates delivered.
- Customer satisfaction: Average rating of 4.9/5.0 for support and onboarding services.
- Awards:
- Best AI-based Customer Service Solution of the Year 2025 (Business Intelligence Group)
- Great Place to Work® certifications in several countries
- Two 2025 Stevie® Awards for Customer Service and Customer Satisfaction
- Social commitment:
- 10 years of the Rimini Street Foundation , including a $100,000 grant program for non-profit organizations
Outlook:
Due to ongoing legal proceedings with Oracle, Rimini Street is currently refraining from providing a specific forecast for the full year 2025.
A webcast to discuss the quarterly results has been scheduled for May 1, 2025, at 5:00 PM ET / 2:00 PM PT . A replay will be available for one year.
