Rimini Street, Inc. (RMNI)

Rimini Street, Inc. is a global provider of end-to-end enterprise software support, products and services. It offers unified solutions to run, manage, support, customize, configure, connect, protect, monitor and optimize clients' enterprise application, database and technology software. Formed in Nevada in 2005, it became a Delaware corporation through a 2017 merger with a public company and trades on the Nasdaq Global Market under the ticker "RMNI." The company says it is the leading independent software support provider for Oracle and SAP products, measured by active clients supported and industry analyst recognition. It generated revenue of $409.7 million in 2022 and a net loss of $2.5 million, and had an accumulated deficit of $228.3 million.

Its Solutions Portfolio includes Rimini Support (24x7x365 support with a 10-minute guaranteed response for Oracle, SAP, proprietary and open-source databases and other software), Rimini Manage (application and database managed services), Rimini Protect (managed security), Rimini Connect (interoperability for browsers, operating systems and email), Rimini Watch (observability and monitoring), and Rimini Consult (professional and advisory services). Rimini ONE is an integrated, turnkey outsourcing package for Oracle and SAP landscapes. Supported software spans SAP, Oracle, Microsoft, IBM, Salesforce, OpenText and Informatica products, plus open-source databases such as PostgreSQL, MySQL, MongoDB and MariaDB. Rimini Support is generally priced at about 50% of the vendor's annual base support fee, or about 25% when supplementing vendor support. The company also delivers tax, legal and regulatory updates, with more than 57,000 delivered in 2022, and it brought AI support applications to market in 2020.

At December 31, 2022, Rimini Street supported 3,020 active clients globally, including 75 Fortune 500 and 17 Fortune Global 100 companies, across a broad range of industries. Clients include companies, educational and government institutions and business units. About 53% of 2022 revenue came from the United States and 47% from international business. Clients often first replace vendor support and then expand into management, security, interoperability and consulting services. The company positions its offerings against trends in hybrid IT, the wish for control over IT roadmaps, growing use of open-source databases, dissatisfaction with traditional application management services, and composable ERP, which it addresses with its Rimini Street Smart Path solution.

Rimini Street sells primarily through a direct sales force and has wholly owned subsidiaries in Australia, Brazil, Canada, France, Germany, Hong Kong, India, Israel, Japan, Korea, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, Sweden, Taiwan, the UAE, the United Kingdom and the United States. It employed over 1,920 professionals as of December 31, 2022. Its Client Support Delivery operation is staffed globally and assigns named Primary Support Engineers averaging over 20 years of experience. The company competes in the global IT services market for enterprise software support against software vendors such as IBM, Microsoft, Oracle and SAP, as well as application management and other service providers.