Rimini Street, Inc.

For the period ended Jun 30, 2025. Filed Jul 31, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 31, 2025

RMNI$5.41+3.6%Stored close · as of Nov 9, 2026

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Contents

ITEM 1. Financial Statements

Unaudited Condensed Consolidated Balance Sheets

(In thousands, except per share amounts)

	June 30,	December 31,
	2025	2024
ASSETS
Current assets:
Cash and cash equivalents	$101,284	$88,792
Restricted cash	1,203	430
Accounts receivable, net of allowance of $669 and $653, respectively	101,640	130,784
Deferred contract costs, current	16,493	17,076
Prepaid expenses and other	61,506	19,194
Total current assets	282,126	256,276
Long-term assets:
Property and equipment, net of accumulated depreciation and amortization of $22,507 and $21,305, respectively	10,872	9,891
Operating lease right-of-use assets	21,282	7,161
Deferred contract costs, noncurrent	20,305	22,084
Deposits and other	5,138	5,068
Deferred income taxes, net	57,774	68,583
Total assets	$397,497	$369,063
LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Current maturities of long-term debt	$3,093	$3,093
Accounts payable	6,085	5,275
Accrued compensation, benefits and commissions	33,273	33,586
Other accrued liabilities	18,687	20,688
Operating lease liabilities, current	4,281	3,967
Deferred revenue, current	241,376	257,983
Total current liabilities	306,795	324,592
Long-term liabilities:
Long-term debt, net of current maturities	75,638	82,187
Deferred revenue, noncurrent	21,569	23,214
Operating lease liabilities, noncurrent	20,558	7,064
Other long-term liabilities	1,972	1,451
Total liabilities	426,532	438,508
Commitments and contingencies (Note 8)
Stockholders’ deficit:
Preferred stock; $0.0001 par value. Authorized 99,820 (excluding 180 shares of Series A Preferred Stock) no other series has been designated	—	—
Common stock; $0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 92,504 and 91,120 shares, respectively	9	9
Additional paid-in capital	183,117	177,533
Accumulated other comprehensive loss	(6,171)	(7,389)
Accumulated deficit	(204,874)	(238,482)
Treasury stock	(1,116)	(1,116)
Total stockholders' deficit	(29,035)	(69,445)
Total liabilities and stockholders' deficit	$397,497	$369,063

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

	Three Months EndedJune 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Revenue	$104,114	$103,123	$208,318	$209,868
Cost of revenue	41,261	42,180	81,931	85,095
Gross profit	62,853	60,943	126,387	124,773
Operating expenses:
Sales and marketing	38,020	37,377	72,275	76,518
General and administrative	16,845	19,531	34,376	37,933
Reorganization costs	722	3,208	1,184	3,208
Litigation costs and related recoveries:
Litigation settlement	(36,196)	—	(36,196)	—
Professional fees and other costs of litigation	2,264	1,602	4,189	4,527
Litigation costs and related recoveries, net	(33,932)	1,602	(32,007)	4,527
Total operating expenses	21,655	61,718	75,828	122,186
Operating income (loss)	41,198	(775)	50,559	2,587
Non-operating income and (expenses):
Interest expense	(1,629)	(1,483)	(3,304)	(2,824)
Other income (expenses), net	1,232	1,492	1,155	2,457
Income (loss) before income taxes	40,801	(766)	48,410	2,220
Income taxes	(10,543)	(382)	(14,802)	(2,051)
Net income (loss)	30,258	(1,148)	33,608	169
Other comprehensive income
Foreign currency translation gain (loss)	2,230	(573)	2,904	(1,564)
Derivative instrument and other adjustments, net of tax	(703)	(491)	(1,686)	(191)
Comprehensive income (loss)	$31,785	$(2,212)	$34,826	$(1,586)
Net income (loss) per share attributable to common stockholders:
Basic	$0.33	$(0.01)	$0.37	$—
Diluted	$0.32	$(0.01)	$0.36	$—
Weighted average number of shares of Common Stock outstanding:
Basic	92,127	90,495	91,686	90,125
Diluted	94,120	90,495	93,752	90,822

Unaudited Condensed Consolidated Statements of Stockholders' Deficit

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Common Stock, Shares
Beginning of period	91,351	89,931	91,120	89,595
Exercise of stock options for cash	1	—	3	—
Restricted stock units vested	1,152	767	1,381	1,103
End of period	92,504	90,698	92,504	90,698
Total Stockholders' Deficit, beginning of period	$(63,696)	$(36,312)	$(69,445)	$(39,496)
Common Stock, Amount
Beginning of period	9	9	9	9
Exercise of stock options for cash	—	—	—	—
Restricted stock units vested	—	—	—	—
End of period	9	9	9	9
Additional Paid-in Capital
Beginning of period	180,241	170,546	177,533	167,988
Stock based compensation expense	2,873	2,405	5,575	4,963
Exercise of stock options for cash	3	—	9	—
Restricted stock units vested	—	—	—	—
End of period	183,117	172,951	183,117	172,951
Accumulated Other Comprehensive Loss
Beginning of period	(7,698)	(4,858)	(7,389)	(4,167)
Other comprehensive loss	1,527	(1,064)	1,218	(1,755)
End of period	(6,171)	(5,922)	(6,171)	(5,922)
Accumulated Deficit
Beginning of period	(235,132)	(200,893)	(238,482)	(202,210)
Net income (loss)	30,258	(1,148)	33,608	169
End of period	(204,874)	(202,041)	(204,874)	(202,041)
Treasury Stock	(1,116)	(1,116)	(1,116)	(1,116)
Total Stockholders' Deficit, end of period	$(29,035)	$(36,119)	$(29,035)	$(36,119)

Unaudited Condensed Consolidated Statements of Cash Flows

	Six Months Ended June 30,
	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$33,608	$169
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	5,575	4,963
Depreciation and amortization	1,789	1,733
Accretion and amortization of debt discount and issuance costs	326	434
Deferred income taxes	10,628	(2,557)
Amortization and accretion related to operating right of use assets	2,421	2,222
Changes in operating assets and liabilities:
Accounts receivable	31,080	29,910
Prepaid expenses, deposits and other	(42,620)	2,058
Deferred contract costs	2,362	4,186
Accounts payable	675	(1,452)
Accrued compensation, benefits, commissions and other	(6,602)	(7,033)
Deferred revenue	(23,305)	(17,288)
Net cash provided by operating activities	15,937	17,345
CASH FLOWS USED IN INVESTING ACTIVITIES:
Capital expenditures	(2,661)	(2,028)
Payment for purchases of short term investments	—	(7,458)
Proceeds from sales and maturities of short term investments	—	17,284
Net cash provided by (used in) investing activities	(2,661)	7,798
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the 2024 Credit Facility	—	2,938
Principal payments on revolving line of credit borrowings	(5,000)	—
Principal payments on term loan borrowings	(1,875)	(1,688)
Principal payments on capital leases	(191)	(176)
Proceeds from exercise of employee stock options	9	—
Net cash provided by (used in) financing activities	(7,057)	1,074
Effect of foreign currency translation changes	7,046	(7,443)
Net change in cash, cash equivalents and restricted cash	13,265	18,774
Cash, cash equivalents and restricted cash at beginning of period	89,222	115,852
Cash, cash equivalents and restricted cash at end of period	$102,487	$134,626

Unaudited Condensed Consolidated Statements of Cash Flows, Continued

	Six Months Ended June 30,
	2025	2024
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$2,995	$2,378
Cash paid for income taxes	1,900	1,621
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Increase in payables for capital expenditures	$—	$118

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.