Rimini Street, Inc.

Listed Company

RMNICIK 0001635282NasdaqAcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$37.10M

Total Assets

$423.11M

Equity

$-27.03M

Shares Out

92.56M

Op. Cash Flow

$60.22M

Business

Rimini Street, Inc. provides end-to-end enterprise software support, products and services that run, manage, support, customize, configure, connect, protect, monitor and optimize clients’ application, database and technology platforms. Its main offerings include Rimini Support, Rimini Manage, Rimini Protect, Rimini Connect, Rimini Watch, Rimini Consult and the unified Rimini ONE outsourcing program. The company organizes its business into a Solutions Portfolio spanning support, managed services, security, interoperability, observability and professional services. It serves global markets through a direct sales force, regional teams, subsidiaries and strategic partnerships.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	422	429	431	410	374
Cost of revenue	167	168	163	152	136
Gross profit	255	261	269	257	238
Sales and marketing	152	150	142	143	128
General and administrative	70	73	73	75	64
Reorganization costs	4	6	59,000	3	0
Litigation settlement	−36	59	3	—	—
Professional fees and other costs of litigation	5	6	7	26	16
Litigation costs and related recoveries, net	−31	65	10	25	17
Total operating expenses	195	293	225	249	211
Operating income (loss)	60	−32	44	8	27
Interest expense	−6	−6	−6	−4	—
Other income, net	2	2	3	−13,000	−2
Income (loss) before income taxes	56	−37	41	4	19
Income taxes	−19	371,000	−15	−6	−56
Net income (loss)	37	−36	26	−2	75
Foreign currency translation gain (loss)	3	−3	442,000	−2	−2
Derivative instrument and other adjustments, net of tax	−894,000	35,000	−414,000	1	0
Comprehensive income (loss)	39	−39	26	−4	73
Net income (loss) attributable to common stockholders	37	−36	26	−2	45
Basic (in dollars per share)	0.4	−0.4	0.29	−0.03	0.54
Diluted (in dollars per share)	0.39	−0.4	0.29	−0.03	0.51
Basic (in shares)	92	91	89	88	84
Diluted (in shares)	94	91	90	88	89

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	120	89	115	109	120
Restricted cash, current	341,000	430,000	—	—	—
Accounts receivable, net of allowance of $1,443 and $653, respectively	137	131	119	116	135
Deferred contract costs, current	18	17	18	17	15
Prepaid expenses and other	25	19	—	—	—
Total current assets	300	256	289	282	287
Restricted cash, noncurrent	785,000	0	—	—	—
Property and equipment, net	10	10	10	6	4
Operating lease right-of-use assets	21	7	6	7	13
Deferred contract costs, noncurrent	24	22	24	24	22
Deposits and other	8	5	6	7	2
Deferred income taxes, net	58	69	59	66	64
Total assets	423	369	394	391	391
Current maturities of long-term debt	4	3	6	5	4
Accounts payable	6	5	6	8	6
Accrued compensation, benefits and commissions	40	34	39	37	37
Other accrued liabilities	24	21	18	33	26
Operating lease liabilities, current	5	4	4	4	4
Deferred revenue, current	269	258	263	266	253
Total current liabilities	347	325	336	353	330
Long-term debt, net of current maturities	63	82	64	70	80
Deferred revenue, noncurrent	19	23	24	34	47
Operating lease liabilities, noncurrent	19	7	7	9	13
Other long-term liabilities	2	1	2	2	3
Total liabilities	450	439	433	468	472
Commitments and contingencies (Note 9)	—	—	—	—	—
Preferred stock, $0.0001 par value per share. Authorized 99,820 shares (excluding 180 shares of previously issued and redeemed Series A Preferred Stock); no other series has been designated	0	0	0	0	0
Common stock, $0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 91,603 and 91,120 shares, respectively	9,000	9,000	9,000	9,000	9,000
Additional paid-in capital	181	178	168	156	149
Accumulated other comprehensive loss	−6	−7	−4	−4	−3
Accumulated deficit	−201	−238	−202	−228	−226
Treasury stock, at cost; 137 and 137 shares, respectively	−1	−1	−1	−1	—
Total stockholders deficit	−27	−69	−39	−77	−80
Total liabilities and stockholders deficit	423	369	394	391	391

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accretion and amortization of debt discount and issuance costs	657,000	765,000	973,000	973,000	441,000
Amortization and accretion related to ROU assets	5	5	4	6	6
Stock-based compensation expense	11	10	13	11	10
Depreciation and amortization	4	4	3	3	2
Deferred income taxes	11	−10	7	−2	−62
Other	44,000	−1,000	48,000	10,000	0
Accounts receivable, net	−5	−15	−3	19	−19
Prepaid expenses, deposits and other	−10	6	−6	−7	−3
Deferred contract costs	−3	2	−767,000	−4	−2
Accounts payable	444,000	−613,000	−2	2	2
Accrued compensation and other accruals	4	−6	−18	3	3
Deferred revenue	5	2	−11	3	47
Net cash provided by (used in) operating activities	60	−39	12	35	67
Payment for purchases of short-term investments	0	−7	−31	−31	—
Proceeds from sales and maturities of short-term investments	0	17	41	11	—
Capital expenditures	−5	−3	−7	−4	−2
Net cash provided by (used in) investing activities	−5	6	3	−24	−2
Proceeds from issuance of 2024 Credit Facilitys term loan	0	3	0	0	—
Proceeds from the 2024 Credit Facilitys revolving line of credit	0	15	0	0	89
Principal payments on revolving line of credit borrowings	−15	0	0	−10	−2
Principal payments on term loan borrowings	−4	−4	−6	−10	—
Payments to repurchase and retire Common Stock	−8	0	−1	−5	0
Proceeds from exercise of employee stock options	63,000	0	79,000	1	6
Principal payments on financing leases	−322,000	−360,000	−332,000	−313,000	−428,000
Net cash provided by (used in) financing activities	−27	14	−7	−14	−27
Effect of foreign currency changes on cash	3	−8	−2	−7	−6
Net change in cash, cash equivalents and restricted cash	32	−27	6	−11	32
Cash paid for interest	6	5	5	3	1
Cash paid for income taxes	4	3	5	3	3
Cash paid for withholding taxes	3	5	5	—	—
Increase in payables for capital expenditures	0	39,000	0	0	—

Filings

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