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    KUSHAL’S FASHION JEWELLERY MARKS MILESTONE OF 100 STORES, AIMS TO REACH 150 BY THE END OF THIS FINANCIAL YEAR

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    Glion awarded prestigious Swiss Federal Accreditation

    Global childhood vaccination coverage holds steady, yet over 14 million infants remain unvaccinated – WHO, UNICEF

    New WHO guidelines for clinical management of arboviral diseases: dengue, chikungunya, Zika and yellow fever

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Left to Right- Ishfaaq Uvaim, Manager Telangana and Andhra Pradesh;  Mr. Dheera Hettiarachchi, Chairman, Sri Lanka Convention Bureau;  Mrs. Harsha Ruparathne, Actg. Deputy High Commissioner, Sri Lanka Deputy High Commission in Chennai, India;  Mrs. Malkanthi Welikala, Manager – Marketing, SLCB

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

  • National
    • All
    • Economy & Politics
    • Election

    SPREE scheme implemented for the welfare of workers

    KUSHAL’S FASHION JEWELLERY MARKS MILESTONE OF 100 STORES, AIMS TO REACH 150 BY THE END OF THIS FINANCIAL YEAR

    HAL receives first set of wing assemblies for LCA Mk1A from L&T

    NHRC, India takes suo motu cognizance of the reported gang rape of a woman in an empty compartment of a stationary train in Panipat city of Haryana

    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

    “Ishaara Samajh Le”: A Musical Call for Celebrations with Magic Moments & Kriti Sanon

  • Business

    Reliance Retail Acquires Kelvinator: Forging a New Era in India’s Consumer Durables Market

    ” Karnataka is not just India’s innovation and investment capital, we are steadily positioning ourselves as a global strategic R&D hub.”-Mr Priyank Kharge,Minister for IT & Biotechnology & Rural Development & Panchayati Raj, Gok.

    Commercial Taxes department’s clarification regarding Digital and Gateway Payments

  • Health

    Global childhood vaccination coverage holds steady, yet over 14 million infants remain unvaccinated – WHO, UNICEF

    “The relaunch is our way of expressing gratitude to our early patrons and reintroducing the space with renewed energy.”-Mr. Arup Chatterjee Regional Manger South spokesperson from Barbeque Nation Hospitality Ltd.

    Abbott Launches Digene Insta on the Go – Instant Relief from Acidity, Anytime, Anywhere

    Apollo AyurVAID Launches India’s First ‘Tested Safe’ Ayurveda Products

    Ichnos Glenmark Innovation (IGI) Announces Global Commercialization Strategy for ISB 2001 Following Licensing Deal with AbbVie

    New WHO guidelines for clinical management of arboviral diseases: dengue, chikungunya, Zika and yellow fever

  • Technology
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    • Environment
    • Science

    HAL receives first set of wing assemblies for LCA Mk1A from L&T

    Emerson NI Days India 2025

    Industry leaders unveil innovative solutions for print, branding, signage and digital displays.

    “This University Is Not Just an Institution—It’s a Mini City of Engineers”: Union Minister Scindia

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    “SEZs can be a bridge between Indian and global aerospace and defence industries via Startup India.”-Piyush Goyal ,Union Minister for Commerce and Industry 

  • Auto

    Lucid, Nuro, and Uber Partner on Next-Generation Autonomous Robotaxi Program

    Volvo Cars reports Q2 2025 results, turnaround plan is fully on track

    Baneswar Banerjee, President & NSH, Mahindra, Deepak Sinha, NSH & Service Delivery, Mahindra EV and senior officials inaugurated PPS Mahindra showroom at Kanakapura Road

    PPS Motors inaugurates new Mahindra Showroom at Kanakapura Road, Bengaluru

    THE ALL-NEW LEAF. THE THIRD-GENERATION ELECTRIC VEHICLE (EV) LAUNCHED

  • Sports

    ‘The corner defender is the pillar of the team:’ Yogesh Dahiya on his record-breaking Bulls move

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    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

  • Lifestyle
    • All
    • Food
    • Travel

    KUSHAL’S FASHION JEWELLERY MARKS MILESTONE OF 100 STORES, AIMS TO REACH 150 BY THE END OF THIS FINANCIAL YEAR

    Lab-Grown Trend? SWA Diamonds Flies High Globally with 100% Natural Gems

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    “The relaunch is our way of expressing gratitude to our early patrons and reintroducing the space with renewed energy.”-Mr. Arup Chatterjee Regional Manger South spokesperson from Barbeque Nation Hospitality Ltd.

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Rimini Street Announces Fiscal First Quarter 2020 Financial Results

FWM by FWM
May 8, 2020
in Business
0
Rimini Street Announces Fiscal First Quarter 2020 Financial Results (Photo: Business Wire)

Rimini Street Announces Fiscal First Quarter 2020 Financial Results (Photo: Business Wire)

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  • Friday, May 8, 2020 10:10AM IST (4:40AM GMT)
Las Vegas, United States:

  • Quarterly revenue of $78.0 million, up 18.5% year over year
  • Quarterly gross margin of 61.3%, down from 63.8% year over year
  • 2,077 active clients at March 31, 2020, up 12.1% year over year

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced results for the first quarter ended March 31, 2020.

“For the first quarter, we achieved record quarterly revenue, matching the high-end of management guidance, generated $26.3 million of operating cash flow, produced another quarter of net income, strengthened the balance sheet with total cash of $58.0 million at quarter end and expanded sales capabilities. Operationally, in response to the pandemic, we leveraged our secure, remote-connectivity infrastructure to seamlessly and smoothly transition our office-based employees worldwide to a work-at-home model with no material impact to our client service delivery or sales execution,” stated Seth A. Ravin, Rimini Street co-founder, CEO and chairman of the board. “Having already saved our clients nearly $5 billion to date, we are the right company, at the right time, with proven solutions that are helping organizations immediately slash IT operating costs, save jobs, stabilize operations and focus their more limited resources on strategic initiatives. Prior to the pandemic, we were making investments to meet increasing global demand for our expanded product and service portfolio. This increased demand was reflected in our previously issued – and today re-affirmed – 2020 guidance for accelerated year-over-year revenue growth. We are now accelerating those investments to service additional opportunities resulting from the global economic slowdown. We remain committed to the long-term goals of improving free cash flow and growing GAAP profitability.”

First Quarter 2020 Financial Highlights

  • Revenue was $78.0 million for the 2020 first quarter, an increase of 18.5% compared to $65.9 million for the 2019 first quarter.
  • Annualized Subscription Revenue was $310 million for the 2020 first quarter, an increase of 17.7% compared to $263 million for the 2019 first quarter.
  • Active Clients as of March 31, 2020 were 2,077, an increase of 12.1% compared to 1,852 Active Clients as of March 31, 2019.
  • Revenue Retention Rate was 92% for the trailing 12 months ended March 31, 2020 compared to 92% for the comparable period ended March 31, 2019.
  • Gross margin was 61.3% for the 2020 first quarter compared to 63.8% for the same period last year.
  • Operating income was $3.7 million for the 2020 first quarter compared to $11.2 million for the same period last year.
  • Non-GAAP Operating Income was $8.9 million for the 2020 first quarter compared to $6.2 million for the same period last year.
  • Net income was $2.5 million for the 2020 first quarter compared to $10.3 million for the same period last year.
  • Non-GAAP Net Income was $7.7 million for the 2020 first quarter compared to $5.1 million for the same period last year.
  • Adjusted EBITDA for the 2020 first quarter was $9.2 million compared to $6.6 million for the same period last year.
  • Basic and diluted net income (loss) per share attributable to common stockholders was a net loss per share of $0.06 for the 2020 first quarter compared to a net income per share of $0.05 for the same period last year.
  • Employee count as of March 31, 2020 was 1,302, a year-over-year increase of 17%.
Tags: FINANCIAL RESULTSIncRimini Street
FWM

FWM

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