Quarterly ResultApr 30, 2026, 04:14 PM
RMNI Q1 Net Income Down 59%; Revenue Up 1.2%; Debt Reduced
AI Summary
Rimini Street, Inc. reported Q1 2026 net income of $1.4 million, a significant decrease from $3.4 million in Q1 2025, despite a slight revenue increase of 1.2% to $105.5 million. The company reduced its term loan debt by $10.9 million through scheduled and voluntary prepayments, with the next principal payment due in March 2028. Additionally, the Oracle Rimini II litigation remains stayed due to a settlement agreement, contingent on the wind-down of PeopleSoft support services by July 2028, and the company is strategically increasing its focus on research and development.
Key Highlights
- Q1 2026 net income was $1.4 million, a 59% decrease from $3.4 million in Q1 2025.
- Q1 2026 revenue increased 1.2% to $105.5 million from $104.2 million in Q1 2025.
- Basic EPS for Q1 2026 was $0.01, down from $0.04 in Q1 2025.
- Reduced term loan debt by $10.9 million in Q1 2026, including $10.0 million in voluntary prepayments.
- Oracle PeopleSoft services revenue decreased to 3% of total revenue in Q1 2026 from 7% in Q1 2025.
- Oracle Rimini II litigation stayed due to settlement agreement, with PeopleSoft wind-down by July 2028.
- Strategic decision to focus on Research and Development for existing and new products in 2026.
- Stock repurchase program extended to June 1, 2029, with $36.7 million remaining available.
Price Impact
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