Rimini Street Q1 Revenue Up 1.2% to $105.5M; Prepays $10M Debt
Rimini Street reported first-quarter fiscal 2026 revenue of $105.5 million, up 1.2% year-over-year (5.2% ex-PeopleSoft), and subscription revenue at $100.2 million (95.0% of total). Net income fell to $1.4 million from $3.4 million, and the company prepaid $10 million of debt, reducing borrowings to $58.4 million and boosting net cash to $73.8 million.
1. First-Quarter Financial Highlights
Rimini Street’s fiscal Q1 2026 revenue reached $105.5 million, a 1.2% increase year-over-year (5.2% excluding PeopleSoft support). U.S. revenue declined 6.4% to $46.9 million while international revenue rose 8.3% to $58.6 million; subscription revenue comprised 95.0% of total.
2. Recurring Revenue and Billings Growth
Annualized Recurring Revenue climbed to $400.8 million, up 1.2% year-over-year (5.0% ex-PeopleSoft). Calculated billings increased 19.9% to $95.3 million, with Adjusted Calculated Billings up 22.9% to $92.2 million, and Remaining Performance Obligations grew 16.4% to $643.6 million.
3. Profitability Metrics
Gross margin narrowed to 59.0% from 61.0% a year ago. Operating income fell to $4.8 million and Non-GAAP operating income to $7.9 million. Adjusted EBITDA declined to $8.9 million, while net income dropped to $1.4 million from $3.4 million.
4. Balance Sheet and Client Growth
Cash and cash equivalents rose to $132.2 million at quarter end. A $10 million voluntary debt prepayment cut term loan balance to $58.4 million and increased net cash to $73.8 million. Active clients grew 1.2% to 3,130, with revenue retention steady at 88%.