Rimini Street, Inc. (Nasdaq: RMNI) reported fourth-quarter and full-year 2025 results on February 19, 2026. For the fourth quarter ended December 31, 2025, revenue totaled $109.8 million, down 3.9% year over year. Net income amounted to $724,000, or $0.01 per share. For the full year 2025, revenue reached $421.5 million, a 1.7% decrease from 2024, while net income improved to $37.1 million from a $36.3 million net loss in the prior year.
Company Description
Rimini Street, Inc. provides global end-to-end enterprise software support, managed services, and Agentic AI ERP innovation solutions. As the leading third-party support provider for Oracle, SAP, and VMware software, the company serves over 3,100 active clients worldwide, including Fortune Global 100, Fortune 500, midmarket, public sector, and government organizations. Its model delivers significant cost savings and operational stability through the Rimini Smart Path methodology, enabling clients to avoid forced vendor upgrades or migrations.
Stock Reaction
RMNI shares declined following the earnings release. The stock closed at $3.04 on February 18, 2026, prior to the announcement. Post-results trading on February 19 and into February 20 reflected downward pressure consistent with the reported revenue decline and EPS miss, with shares trading in the low $3 range amid broader market conditions.
Fourth-Quarter 2025 Results
Revenue decreased 3.9% year over year to $109.8 million from the prior-year period, driven primarily by the wind-down of Oracle PeopleSoft support services. Subscription revenue, representing the majority of total revenue, reflected this impact, though adjusted recurring metrics showed resilience. Gross margin stood at 60.4%. Operating income was $5.0 million, compared with $14.9 million in the prior-year quarter. Remaining performance obligations (RPO) reached a record $652.9 million, up 11.1% year over year.
Full-Year 2025 Results
Revenue totaled $421.5 million, down 1.7% year over year but up 1.0% when excluding the PeopleSoft wind-down effect. Adjusted calculated billings increased 4.2%, and adjusted annualized recurring revenue rose 3.1%. The company swung to profitability with net income of $37.1 million, supported by lower litigation costs, operational efficiencies, and a stronger cash position of $120.0 million at year-end.
Outlook
Rimini Street guided full-year 2026 revenue growth of 4% to 6%. Adjusted EBITDA margins are projected at 12.5% to 15.5%. For the first quarter of 2026, revenue is expected in the range of $101.5 million to $103.5 million.
Geopolitical and Tariff Exposure
The company reports limited direct exposure to geopolitical risks or tariff impacts. International revenue accounts for approximately 54% of total, with diversified operations across regions. No material effects from trade tensions, supply-chain issues, or tariffs were disclosed in the results or guidance.
SWOT Analysis
Strengths
Dominant position in third-party support for major ERP vendors; record RPO backlog signaling future revenue visibility; profitability turnaround and cash generation; innovative Agentic AI ERP offerings providing differentiation.
Weaknesses
Topline pressure from legacy product wind-downs such as PeopleSoft; margin contraction in recent periods; reliance on established ERP ecosystems facing vendor upgrade pressures.
Opportunities
Growing adoption of AI-enabled ERP alternatives; cross-sell and upsell potential within large client base; market share expansion as enterprises prioritize cost savings over vendor-mandated changes.
Threats
Competition from Oracle, SAP, and other support providers; potential macroeconomic slowdowns impacting IT spending; execution risks on new AI product scaling; ongoing vendor ecosystem shifts or litigation exposures.
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