RMNI · Rimini Street, Inc.

Rimini Street's Q1 2026 results showed modest top-line growth with revenue at $105.5 million, up 1.2% year-over-year, driven by 8.3% international revenue expansion to $58.6 million offsetting a 6.4% U.S. decline to $46.9 million. Excluding declining Oracle PeopleSoft support, core revenue grew 5.2%, subscription revenue rose to $100.2 million (95% of total), and Adjusted ARR increased 5.0% to $388.0 million. Strong backlog metrics signal future revenue potential, with RPO up 16.4% to $643.6 million and Adjusted Calculated Billings surging 22.9% to $92.2 million, reflecting robust new contract momentum and client expansions including LF, Cubic Corporation, KleanNara, Flexitech, Lwart, and Lotte Rental. CEO Seth Ravin highlighted accelerating Rimini Support™ adoption via Rimini Smart Path™, enabling cost savings and AI investments without risky ERP upgrades. CFO Michael Perica noted strategic AI investments alongside operational streamlining. Profitability softened with gross margin contracting to 59.0% from 61.0%, operating income falling to $4.8 million from $9.4 million, and Adjusted EBITDA to $8.9 million from $15.7 million, amid investments for growth. Balance sheet strengthened via $10 million debt prepayment, reducing term loan to $58.4 million and lifting net cash to $73.8 million. Guidance affirms Q2 revenue of $106-108 million and full-year 4-6% growth with 12.5-15.5% Adjusted EBITDA margins under 'Rule of 20,' emphasizing profitable scaling and cash discipline.