Rimini Street, Inc. (RMNI) Earnings
Rimini Street, Inc. is expected to report next earnings on October 29, 2026 (in NaN days), with a consensus EPS estimate of $0.10. RMNI has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -20.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.06 | $0.07 | +21.7% | $108M | +1.3% |
| Apr 30, 2026 | $0.08 | $0.03 | -62.5% | $105M | +2.7% |
| Feb 19, 2026 | $0.09 | $0.07 | -22.2% | $110M | +4.2% |
| Oct 30, 2025 | $0.10 | $0.08 | -20.0% | $103M | -1.9% |
| Jul 31, 2025 | $0.09 | $-0.03 | -133.3% | $104M | -0.5% |
| May 1, 2025 | $0.09 | $0.09 | +1.1% | $104M | +0.8% |
| Feb 27, 2025 | $0.10 | $0.12 | +17.6% | $114M | +10.9% |
| Oct 30, 2024 | $0.07 | $0.22 | +209.9% | $105M | +1.8% |
| Jul 31, 2024 | $0.10 | $0.07 | -30.0% | $103M | -2.4% |
| May 2, 2024 | $0.12 | $0.07 | -41.7% | $107M | +0.3% |
| Feb 28, 2024 | $0.12 | $0.19 | +59.7% | $112M | +1.5% |
| Nov 1, 2023 | $0.11 | $0.14 | +28.4% | $107M | -2.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · July 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Core Business & Strategic Progress * Delivered four consecutive quarters of improved growth metrics, aligned with the 2025 Investor Day vision to evolve into an innovation-focused company and return to profitable growth * Closed 14 new client transactions with over $1 million in total contract value during the quarter, spanning household global brands across industries * Continued steady execution on the wind-down of PeopleSoft support services, on track to complete the wind-down by July 2028 - AI Product Expansion * Launched Rimini Govern for AI, a new governance-as-a-service offering that enables organizations to securely control, scale, and measure ROI of enterprise AI agent deployments * Completes an end-to-end AI service portfolio alongside existing offerings: Rimini Agentic UX (AI automation layer for existing ERPs) and Rimini AgentWorks (AI agent lifecycle management and certification for both Rimini and third-party agents) * Rimini AI solutions are deployed over the top of existing ERP software, eliminating the need for costly upgrades, migrations, or replatforming, and are funded via customer savings from switching to Rimini third-party support - Go-to-Market & Ecosystem Development * Strengthened the indirect sales and partner ecosystem, adding new partner managers and completing new strategic partnership agreements that extend market reach and bring complementary cloud, platform, and AI expertise * Implemented a separated hunter-farmer sales model in the Americas, with dedicated teams for new client acquisition and existing client retention/cross-selling, which has driven improved new logo growth - Financial & Balance Sheet Health * Achieved a GAAP gross margin of 60.9%, exceeding the company's 60% target, up 50 basis points year-over-year and 190 basis points sequentially * Prepaid $10 million in debt during the quarter, reducing total outstanding debt to $48.4 million; held $123.4 million in total cash as of June 30, 2026 * Year-to-date operating cash flow was $22.9 million, representing 118% cash flow conversion, putting the company on track to hit its 2025 Investor Day target of 90%+ annual cash flow conversion * Remaining performance obligations (RPO) totaled $636.9 million as of June 30, 2026, an 8% year-over-year increase; adjusted RPO excluding PeopleSoft grew 8.8% year-over-year
Guidance
- Reiterates the full fiscal year 2026 guidance initially shared at the 2025 December Investor Day, targeting 4% to 6% total revenue growth and adjusted EBITDA margins of 12.5% to 15.5%, consistent with achieving Rule of 20 results for the full year - Provides Q3 2026 revenue guidance of $110 million to $112 million - Management confirms confidence in achieving the reiterated full year guidance, supported by double-digit year-over-year new bookings growth and a solid, high-conversion pipeline, despite timing impacts on Q2 billings
Segment performance
Total company revenue for Q2 2026 was $111.1 million, representing a 6.7% year-over-year increase. Excluding revenue from PeopleSoft products (the segment being wound down), adjusted revenue grew 10% year-over-year. PeopleSoft support services revenue declined to 3% of total revenue this quarter, down from 6% year-over-year and 8% at the start of the transition in 2024. Recurring service subscriptions represent 93% of total company revenue.
Risks & headwinds
- Sales force turnover is higher than desired, as the company transitions sales skill sets to support selling new AI and innovation offerings, with some existing sales representatives unable to adapt to the new go-to-market requirements - Expenses are front-loaded when launching new offerings: new client contracts average 15-month terms (including 3 months of onboarding), so expenses for new hires and product development are recognized immediately while revenue is recognized ratably over the contract term, creating near-term pressure on margins - Enterprise client spending and decision-making is impacted by broader macroeconomic uncertainty, though the company has not seen material negative impacts to its pipeline to date - Forward-looking statements about future growth and profitability are subject to inherent risks and uncertainties, which are detailed in the company's recent SEC filings, including the Form 10-Q filed on July 30, 2026
Analyst Q&A
Q: How will internal AI usage impact Rimini Street's cost model and long-term adjusted EBITDA margins, and what use cases is the company already deploying? /
A: Rimini currently uses AI for sales enablement, including gathering prospect data to improve rep productivity, and for predictive pipeline management via tools like Clary. It is also using AI in finance operations. Management expects thoughtful, targeted AI deployment will drive meaningful reductions in total operating costs and increased operating leverage over the coming years. The company is not deploying AI indiscriminately, but focusing on high-value use cases that improve efficiency.
Q: What is driving top-of-funnel growth post the Oracle settlement, and what factors are boosting customer demand? /
A: The biggest driver of increased funnel growth is the company's new innovation roadmap that lets customers permanently leave vendor maintenance and avoid mandatory upgrades without needing to return to the vendor roadmap in the future, eliminating the historical 'boomerang effect' concern that previously lost deals. Additional demand drivers include vendor-issued end-of-support deadlines for legacy ERP releases that push customers to seek lower-cost alternatives, and the company's new positioning as an innovation rather than just support provider.
Q: How is the European Commission's recent antitrust decision impacting SAP's anti-competitive practices expected to affect Rimini Street's business? /
A: The decision addresses broader unfair software licensing practices beyond SAP, including overcharging for license adjustments during company mergers and splits that have held customers hostage. The ruling increases customer choice and strengthens the overall competitive environment for third-party enterprise software providers, which will create downstream benefits for Rimini Street, including opening more opportunities to serve customers seeking alternatives to vendor maintenance.
Q: Has the shift to net new client growth in Q2 2026 been driven by pipeline improvements or better retention? What sales changes drove this shift? /
A: The improvement comes from a combination of better retention and increased focus on net new logo acquisition. The company implemented a hunter-farmer sales model in the Americas, where dedicated hunter teams focus exclusively on new client acquisition, and farmer teams manage existing accounts for retention and cross-selling. This model has delivered significant new logo growth in North America, reversing the historical trend of net client losses in the second quarter.
Q: What is the update on the company's joint Gentic AI ERP solution partnership with ServiceNow? /
A: Multiple clients have already moved the joint solution into production, with case studies published on Rimini's website. Many existing production clients are already expanding their deployments to additional projects, and the rollout has been declared a success. Rimini and ServiceNow share over 1,000 existing mutual customers, and the pipeline combines both existing Rimini clients expanding to AI solutions and new clients from ServiceNow's customer base.