RMNI Earnings Prediction
The chart below shows how RMNI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RMNI sees a +19.40% change in stock price 10 days leading up to the earnings, and a -0.20% change 10 days following the report. On the earnings day itself, the stock moves by -4.18%. This data can give you a slight idea of what to expect for the next quarter's release.
RMNI Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
104.67M
-2.59%
1.50%
Gross Margin
60.70%
-3.14%
2.71%
Operating Margin
10.73%
-13.75%
174.42%
Net Margin
-41.18%
-750.55%
3609.91%
EPS
-0.47
-687.50%
4600.00%
No Data Available
RMNI Earnings Analysis
Rimini Street, Inc. (DE) Common Stock Corporation (RMNI.O) Earnings Conference Call
Positive
Q3 Revenue Increase: Rimini Street reported a revenue of $104.7 million for Q3 2024, reflecting a year-over-year increase of 7.7% in billings compared to $65.2 million in the previous year.
Gross Margin Improvement: The company achieved a gross margin of 60.7% for the third quarter, an improvement from 62.7% in the prior year, indicating effective cost management strategies.
Annualized Recurring Revenue Growth: Rimini Street's annualized recurring revenue reached $401.5 million for Q3 2024, showcasing the company's strong subscription-based revenue model.
Customer Satisfaction Excellence: The client satisfaction score averaged 4.9 out of 5, demonstrating high levels of customer satisfaction and service quality.
Client Base Expansion: Rimini Street successfully added 90 new clients in the third quarter, contributing to a growing client base and future revenue potential.
Negative
Third Quarter Revenue Decline: Revenue for the third quarter 2024 was $104.7 million, a year-over-year decrease of 2.6%.
Recurring Revenue Decline: Annualized recurring revenue was $401.5 million for the third quarter, a year-over-year decrease of 3.6%.
Subscription Revenue Retention: Revenue retention rate for services subscriptions, which make up 96% of our revenue, was 89%, with approximately 78% of subscription revenue non-cancelable for at least 12 months.
Quarterly Net Loss: Net loss attributable to shareholders for the third quarter was negative $43.1 million, or negative $0.47 per diluted share, compared to the prior year third quarter net income of $0.08 per diluted share.
Net Income Increase: On a non-GAAP basis, net income for the third quarter was $19.9 million, or $0.22 per diluted share, compared to the prior year third quarter of $0.13 per diluted share.
RMNI FAQs
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RMNI Earning Call Sentiment
Rimini Street, Inc. (RMNI) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
RMNI.O
6.25%Positive
The earnings call indicates declining financial performance with decreased revenue, gross margins, and net losses. Although there are positive developments like the ServiceNow partnership and increased billings, the suspension of revenue guidance and cost-cutting measures due to financial strain are concerning. The Q&A revealed challenges with cash flow and unclear responses about the PeopleSoft wind-down. Despite some optimism in new client acquisitions, the overall sentiment leans negative due to financial pressures and uncertainties.
