Rimini Street Q2 revenue down 3.1% to $103.1M, GAAP loss $0.01 EPS; to wind down Oracle PeopleSoft services

Rimini Street, Inc.

2024-Q2 EPS reported $0.00 revenue$209,868,000

Revenue $103.1M (-3.1% YoY); net loss $1.1M vs net income $4.3M YoY; diluted EPS ($0.01) vs $0.05 YoY.
Non-GAAP operating income $6.4M (down from $14.9M YoY); Adjusted EBITDA $8.8M (down from $15.8M YoY).
Company to wind down Oracle PeopleSoft support, manage, and consult services over 12+ months; PeopleSoft revenue was $36.1M (8%) of FY2023 revenue.
Reorganization costs of $3.2M in Q2 from headcount reduction; more expected in Q3.
Guidance suspended due to ongoing Oracle litigation; active clients down 0.6% to 3,007; revenue retention rate 88%.

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