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- **Revenue Resilience**: Q3 revenue $103.4M (-1.2% YoY), but core business (ex-PeopleSoft) grew 2.5%. Billings up 6.7% YoY (adjusted).
- **AI Momentum**: 26 new agentic AI ERP engagements with ServiceNow, all with existing clients. 2026 monetization expected.
- **Partnerships Pay Off**: GSA contract for U.S. government clients and American Digital partnership for full-stack ERP solutions.
- **Litigation Lift**: Oracle settlement removed barriers, with early signs of increased client engagement.
- **Profitability Improving**: Non-GAAP net income $6.9M ($0.07 EPS), up from $0.22 EPS YoY. RPO up 6.4% YoY to $611.2M.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue was $103.4 million, down 1.2% YoY, but excluding Oracle PeopleSoft, revenue grew 2.5%. ARR was $391 million, down 2.6% YoY. Billings increased 2% YoY to $66.5 million, with adjusted billings (excluding PeopleSoft) up 6.7%.
- **New Client Wins**: 17 new clients with TCV $63.1 million (vs. $48.7 million YoY), including 79 new logos. Notable wins in SAP support, VMware contracts, and 26 agentic AI ERP engagements with ServiceNow.
- **AI Strategy**: Launched agentic AI ERP solutions powered by ServiceNow, with 26 client engagements. Emphasized extending ERP system life through cost savings and AI-driven innovation without upgrades.
- **Partnerships**: Added to U.S. GSA Multiple Award Schedule for government clients and partnered with American Digital for full-stack ERP solutions.
- **Litigation Update**: Settled Oracle litigation, ending wind down of PeopleSoft services by July 2028. PeopleSoft revenue now 5% of total (vs. 8% YoY).

**【CFO Financial Commentary】**
- **Gross Margin**: 59.9% of revenue (60.7% YoY), stable excluding PeopleSoft. Non-GAAP gross margin 60.4%.
- **Operating Expenses**: Reorganization costs $752k Q3, total $7.7M since 2024. Sales & marketing expenses 36.7% of revenue (34.2% YoY). G&A 17.6% (15.8% YoY), impacted by one-time taxes.
- **Profitability**: Net income $2.8M ($0.03 EPS) vs. loss $0.47 EPS YoY. Non-GAAP net income $6.9M ($0.07 EPS) vs. $0.22 EPS YoY. Adjusted EBITDA $10.1M (9.8% of revenue).
- **Balance Sheet**: Cash & investments $108.7M (down from $119.5M YoY). Operating cash flow +$24.7M vs. -$18.5M YoY, driven by $37.9M litigation settlement.
- **Backlog**: RPO $611.2M (6.4% YoY), excluding PeopleSoft up 9.3%.

**【Q&A Key Highlights】**
- **AI Adoption**: 26 agentic AI ERP wins with ServiceNow, all with existing clients. Deal sizes not disclosed, but noted as early-stage with P&L impact expected in 2026.
- **Growth Drivers**: U.S. bookings up 6% YoY (excluding PeopleSoft), international growth driven by SAP and VMware. SAP support sales hit record levels.
- **Indirect Channels**: 82 quota-carrying sellers globally (73 YoY), with growing indirect channel pipelines. U.S. federal sales team launched with Merlin Cyber.
- **Retention**: Service subscription retention 89%, 85% noncancelable for 12+ months. AI solutions expected to increase stickiness.
- **Cost Optimization**: AI deployment to reduce service delivery costs. New CIO focused on internal AI adoption for efficiency.
- **Oracle Impact**: Settlement removed litigation-related barriers, with early signs of increased prospect engagement.


Rimini Street, Inc. (RMNI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

RMNI

RMNI fundamentals

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