Rimini Street Reiterates 2026 Outlook After Growth Reacceleration

The Tip Desk · July 30, 2026 · 3 min read

Adjusted revenue excluding Oracle PeopleSoft rose 10.0% to $108.0 million as the company guided third-quarter sales of $110 million to $112 million.

Rimini Street, Inc. (RMNI), a global provider of enterprise software support and third-party support for Oracle, SAP and VMware software, reported revenue of $111.1 million for the fiscal second quarter ended June 30, 2026, up 6.7% from a year earlier, after a 1.2% year-over-year increase in the first quarter.

Excluding revenue for Oracle’s PeopleSoft software products, adjusted revenue was $108.0 million, up 10.0% from a year earlier, after a 5.2% year-over-year increase in the prior quarter. President and CEO Seth Ravin said second-quarter results and four consecutive quarters of improved growth metrics demonstrated demand for Rimini Support, broader enterprise software services and sales execution.

International revenue was $62.7 million, up 14.1% from a year earlier, after an 8.3% year-over-year increase in the first quarter; excluding PeopleSoft, international revenue increased 15.8%. U.S. revenue was $48.4 million, down 1.6% from a year earlier; excluding PeopleSoft, U.S. revenue increased 3.1%.

Subscription revenue was $103.2 million, or 92.9% of total revenue. Annualized recurring revenue was $412.8 million, up 4.8% from a year earlier. Adjusted annualized recurring revenue was $401.1 million, up 8.1% from a year earlier. Active clients were 3,132 as of June 30, 2026, up 2.4% from a year earlier. Revenue retention was 90% for the trailing 12 months ended June 30, 2026.

Remaining performance obligations were $636.9 million as of June 30, 2026, up 8.0% from a year earlier, after a 16.4% year-over-year increase as of March 31. Adjusted RPO was $627.5 million, up 8.8% from a year earlier. Calculated billings were $100.9 million, down 8.8% from a year earlier; adjusted calculated billings were $99.3 million, down 8.0% from a year earlier, after adjusted calculated billings of $92.2 million, up 22.9% year over year, in the first quarter.

Gross margin was 60.9%, compared with 60.4% a year earlier. Operating income was $6.4 million, compared with $41.2 million a year earlier, a period the company said was significantly impacted by a litigation settlement benefit. Non-GAAP operating income was $9.2 million, compared with $10.9 million a year earlier. Net income was $2.4 million, or $0.03 a share, compared with $30.3 million, or $0.33 a share, a year earlier. Non-GAAP net income was $5.9 million, compared with $7.8 million a year earlier. Adjusted EBITDA was $10.5 million, compared with $14.0 million a year earlier.

Cash and cash equivalents were $123.4 million at June 30, 2026. Chief Financial Officer Michael Perica said the company prepaid another $10 million of debt during the quarter, reducing outstanding debt to $48.4 million.

The company launched Rimini Govern for AI, an AI agent governance and management service, during the quarter. It named new and expanded clients including VIVERE Group, One NZ, Medical Microinstruments and Cochlear Limited. It resolved nearly 6,800 support cases and delivered over 4,500 tax, legal and regulatory updates across 25 countries, and reported an average Rimini Support client satisfaction score of 4.9 out of 5.0.

Rimini Street expects third-quarter 2026 revenue of $110 million to $112 million. It is reiterating full-year 2026 revenue growth of 4% to 6% and adjusted EBITDA margins of 12.5% to 15.5%, which it said is consistent with the goal of achieving the “Rule of 20” for fiscal year 2026.