Rimini Street, Inc. (RMNI) Reports Q3 Loss of $0.09 on Revenues of $53.6M; Offers FY17 Revenue Outlook

Rimini Street, Inc. (NASDAQ: RMNI) reported Q3 EPS of ($0.09). Revenue for the quarter came in at $53.6 million, versus $0 reported last year.

2017 Revenue Guidance

The Company is providing full year 2017 revenue guidance whereby we currently expect net revenue to be in the range of $204 million to $210 million.

Third Quarter 2017 Financial Highlights

• Net Revenue was $53.6 million for the quarter, an increase of 32% compared to $40.7 million for the same period last year.
• Annualized Subscription Revenue was $214.4 million for the quarter, an increase of 32% compared to $162.9 million for the same period last year.
• Active Clients as of September 30, 2017 were 1,459, an increase of 34% compared to 1,085 Active Clients on September 30, 2016.
• Revenue Retention Rate was 94.5% for the trailing 12-months ended September 30, 2017.
• Gross Profit Percentage increased to 62.5% for the quarter compared to 57.7% for the same period last year.
• Operating Income was $7.4 million for the quarter compared to a loss of $4.5 million for the same period last year; Non-GAAP Operating Income was $8.9 million for the quarter compared to a loss of $2.8 million for the same period last year.
• Net Loss for the quarter was $9.0 million compared to a net loss of $15.4 million for the same period last year; Non-GAAP Net Loss for the quarter was $3.1 million compared to a net loss of $11.6 million for the same period last year.
• Adjusted EBITDA for the quarter was a positive $9.5 million compared to a negative $2.5 million for the same period last year.
• As of October 10, 2017, upon the closing of the merger with GP Investments Acquisition Corp. (“GPIAC”), Rimini Street had 58.6 million Common shares outstanding.

GUIDANCE:

Rimini Street, Inc. sees FY2017 revenue of $204-210 billion.

For earnings history and earnings-related data on Rimini Street, Inc. (RMNI) click here.

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