Rimini Street, Inc. (RMNI) Tops Q4 EPS by 4c, Revenues Beat; Offers 1Q & FY21 Revenue Guidance Above Consensus

March 3, 2021 4:14 PM EST

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Rimini Street, Inc. (NASDAQ: RMNI) reported Q4 EPS of ($0.04), $0.04 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $87 million versus the consensus estimate of $83.26 million.

  • Quarterly revenue of $87.8 million, up 15.4% year over year
  • Fiscal year revenue of $326.8 million, up 16.3% year over year
  • Fiscal year operating cash flow of $42.1 million, up 107% year over year
  • 2,487 active clients at December 31, 2020, up 20.6% year over year

“For the fourth quarter and full year 2020, we continued to execute well against our strategic growth plan to achieve $1 billion in annual revenue by 2026 and exceeded quarterly and full year guidance. We accelerated year-over-year revenue growth for the fourth quarter from 11.7% to 15.4% and for the full year 2020 from 10.9% to 16.3%, respectively, achieved record quarterly and full year results for revenue, new sales invoicing, Calculated Billings, backlog and total gross profit and maintained a Revenue Retention rate of over 90 percent,” stated Seth A. Ravin, Rimini Street co-founder, CEO and chairman of the board. “Throughout the year, we continued making investments - including key executive leadership additions - to take advantage of growing global demand for Rimini Street’s support solutions, including our new application management, security, interoperability and professional services.”

“We produced another consecutive quarter of net income, further strengthened the balance sheet with record cash of $87.6 million at year end 2020 and generated $42.1 million of operating cash flow for full year 2020, a 107% year-over-year improvement,” stated Michael L. Perica, Rimini Street chief financial officer. “Today, we are issuing guidance for first quarter and full year 2021 revenue and affirming our continued commitment to the long-term goals of increasing operating cash flow and growing GAAP profitability.”

GUIDANCE:

Rimini Street, Inc. sees Q1 2021 revenue of $87.5-88.5 million, versus the consensus of $85.72 million.

Rimini Street, Inc. sees FY2021 revenue of $370-380 million, versus the consensus of $366.51 million.

The Company is providing first quarter 2021 revenue guidance to be in the range of $87.5 million to $88.5 million and full year 2021 revenue guidance to be in the range of $370 million to $380 million.

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



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