Rimini Street Posts Q4 Revenue Decline, Shifts to Full-Year Profit; Guides 2026 Revenue Growth of 4-6%

Rimini Street, Inc. (Nasdaq: RMNI) reported results for the fourth quarter and full year 2025 on February 19, 2026. For the fourth quarter ended December 31, 2025, revenue reached $109.8 million, down 3.9% year over year. Net income came in at $724,000, or $0.01 per share. For the full year 2025, revenue reached $421.5 million, down 1.7% from 2024, and revenue improved to $37.1 million from a loss of $36.3 million last year.

Company Description

Rimini Street, Inc. provides end-to-end business software support, managed services, and innovative Agentic AI ERP solutions. As a leading third-party software support provider for Oracle, SAP, and VMware, the company serves more than 3,100 active customers 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 approach, allowing customers to avoid forced vendor upgrades or migration.

Stock reaction

RMNI shares declined following the earnings release. The stock closed at $3.04 on February 18, 2026, before the announcement. After-results trading on February 19 and February 20 showed bearish pressure associated with reported revenue declines and EPS misses, with shares trading in the low $3 range amid broader market conditions.

Results for the Fourth Quarter 2025

Revenue fell 3.9% year-over-year to $109.8 million from the prior period, driven primarily by a reduction in Oracle PeopleSoft support services. Subscription revenue, which represents the majority of total revenue, reflected this impact, although adjusted metrics that appeared more often showed resilience. Gross margin stands at 60.4%. Operating income was $5.0 million, compared to $14.9 million in the prior-year quarter. Remaining operating obligations (RPO) reached a record $652.9 million, up 11.1% year over year.

2025 Full Year Results

Revenue came in at $421.5 million, down 1.7% year-over-year but up 1.0% when excluding the effect of the PeopleSoft winddown. Adjusted net debt increased 4.2%, and annual adjusted recurring revenue increased 3.1%. The company entered profitability with revenue of $37.1 million, supported by low litigation costs, operational efficiency, and a strong cash position of $120.0 million at the end of the year.

Outlook

Rimini Street is targeting full-year 2026 revenue growth of 4% to 6%. Adjusted EBITDA margin is expected to be 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 country risks or tax implications. International revenue accounts for about 54% of the total, with various activities in the regions. No material impacts from trade disputes, supply chain issues, or pricing were disclosed in the results or guidance.

SWOT analysis

• Power

  • Top position in third party support for major ERP vendors; RPO backlog record showing visibility of future revenue; profit shifting and monetization; New Agentic AI ERP offerings that provide differentiation.

• Weakness

  • High pressure from legacy product security like PeopleSoft; margin contraction in recent times; reliance on established ERP systems facing vendor development pressures.

• Opportunities

  • Growing adoption of AI-enabled ERP alternatives; sales and marketing capabilities within a large client base; expanding market share as businesses prioritize cost savings over vendor-sanctioned changes.

• Threats

  • Competition from Oracle, SAP, and other support providers; a major economic downturn that could impact IT spending; the risks of using new AI product metrics; ongoing shifts in the merchant ecosystem or exposure to litigation.