Rimini Street Reiterates Rule of 20 After Third-Quarter Beat

The Tip Desk · October 29, 2026 · 2 min read

Revenue reached $112.1 million, up 8.3% from a year earlier, as adjusted EBITDA rose 52.0% to $15.1 million.

Rimini Street, Inc. (RMNI), a global provider of enterprise software support, managed services and Agentic AI ERP solutions, reported fiscal third-quarter revenue of $112.1 million, up 8.3% from $103.4 million a year earlier, accelerating from 6.7% year-over-year growth in the second quarter.

Excluding Oracle PeopleSoft support, adjusted revenue was $109.3 million, up 10.7%. President and CEO Seth Ravin said the quarter marked three consecutive periods of achievement against the fiscal 2026 plan and guidance set at the December 2025 Investor Day, and five consecutive quarters of improving results. The company reiterated its fiscal 2026 “Rule of 20” guidance.

U.S. revenue was $48.3 million, reversing a 1.6% year-over-year decline in the prior quarter. Excluding PeopleSoft, U.S. revenue rose 7.1%. International revenue was $63.8 million, up 11.6%; excluding PeopleSoft, international revenue rose 13.5%.

Subscription revenue was $105.2 million, or 93.9% of the total. Annualized recurring revenue was $421.0 million, up 7.7% from a year earlier. Adjusted ARR excluding PeopleSoft was $410.4 million, up 9.8%. Active clients were 3,214 as of September 30, 2026. Revenue retention was 90% for the trailing 12 months ended September 30, 2026, versus 89% a year earlier.

Calculated billings were $80.5 million, up 21.0% year over year. Adjusted calculated billings excluding PeopleSoft were $78.0 million, up 21.9%. Remaining performance obligations were $652.9 million as of September 30, 2026, up 6.8% from a year earlier. Adjusted RPO excluding PeopleSoft was $643.4 million.

Gross margin was 61.4%. Net income was $6.5 million, or $0.07 a share, compared with $2.8 million, or $0.03 a share, a year earlier. Non-GAAP net income was $11.3 million. Adjusted EBITDA was $15.1 million, up 52.0% from $9.9 million a year earlier. Operating income was $9.8 million.

Cash and cash equivalents were $93.3 million at September 30, 2026, down from $123.4 million at June 30. The company completed $5.0 million of common stock repurchases and prepaid $5.0 million of debt in the quarter, bringing fiscal 2026 year-to-date capital return and debt reduction to $30.9 million and reducing outstanding term loan debt to $43.4 million.

The company said it achieved record third-quarter sales of services for SAP software and completed partnerships that expand sales leverage. It launched Rimini Govern for AI, a managed service for governance, security, compliance and performance measurement of AI agents and workflows, and announced a strategic partnership with Datacom to offer Rimini Support for Oracle and SAP across Australia and New Zealand.

The company expects fourth-quarter 2026 revenue of $117 million to $119 million.