Rimini Street Reports $112.1 Million in Third-Quarter Revenue, Up 8.3% Year Over Year
Key Facts
Rimini Street reported third-quarter 2026 revenue of $112.1 million, up 8.3% year over year, and said revenue excluding PeopleSoft increased 10.7%. Results showed improved profitability alongside sales growth: gross margin was 61.4%, compared with 59.9% in the same period a year earlier. Net income rose to $6.5 million from $2.8 million a year earlier, while adjusted EBITDA increased to $15.1 million from $9.9 million. CEO Seth Ravin said the company had delivered "five consecutive quarters of improved financial results and growth," and management reaffirmed its Rule of 20 guidance for fiscal 2026.
International growth outpaced U.S. revenue growth during the quarter. International revenue rose 11.6% to $63.8 million, while U.S. revenue increased 4.3% to $48.3 million, according to the transcript published on Investing.com. International revenue thus accounted for the larger share of quarterly revenue, while the U.S. market also remained on a year-over-year growth trajectory. Excluding PeopleSoft, revenue growth was 10.7%, above the reported growth rate for total revenue. The figures show differing growth rates between the two regions, alongside the effect of excluding PeopleSoft from the adjusted revenue measure presented by the company.
Calculated billings, an operating metric cited by the company, rose 21% year over year to $80.5 million in the third quarter. Adjusted calculated billings excluding PeopleSoft were $78 million, up 21.9% from the year-earlier period. The company also reported record sales for SAP services during the quarter and said deals included 17 new customer contracts worth more than $1 million each. The contracts had a total value of $43.7 million. Billings growth accompanied higher revenue, while management said SAP services activity reached a record level during the period.
Subscriptions continue to make up the largest share of the company's revenue: subscription revenue was $105.2 million in the third quarter, equivalent to 93.9% of total revenue. Adjusted annual recurring revenue rose 9.8% year over year to $410.4 million. As of September 30, 2026, remaining performance obligations totaled $652.9 million, up 6.8% from a year earlier and 2.5% from the previous quarter. The active customer count reached 3,214 on the same date, up 1.9% from 3,155 on September 30, 2025. Together, these metrics show the scale of subscription-based revenue, recorded performance obligations and the change in active customers.
The company said it launched Rimini Govern for AI during the quarter, a service designed to help organizations deploy, manage and scale AI agents, with governance, security and control services. In the same quarter, the company repurchased $5 million of shares and prepaid an additional $5 million of debt. Total capital returns and debt reduction since the start of the fiscal year were $30.9 million, management said. The company's shares, traded under the ticker RMNI, closed at $3.99 on October 29, 2026. EL7's available data do not include the day's trading range.
Rimini Street forecast fourth-quarter 2026 revenue of $117 million to $119 million and reaffirmed its Rule of 20 guidance for fiscal 2026. It also said its next Investor Day will be held in New York on January 14, 2027. The date follows third-quarter results that combined revenue and billings growth with improvements in gross margin and net income compared with the year-earlier period. The results also included faster international revenue growth than U.S. growth, and increases in adjusted annual recurring revenue and remaining performance obligations. The stock's $3.99 close on October 29 represents the closing price recorded in EL7's data.