Rimini Street, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
View on SEC.govAbout 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.
Sep 30, 2025 · Filed Oct 30, 2025
RMNI$5.53+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
ITEM 1. Financial Statements
Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $108,721 | $88,792 |
| Restricted cash | 432 | 430 |
| Accounts receivable, net of allowance of $877 and $653, respectively | 82,540 | 130,784 |
| Deferred contract costs, current | 16,933 | 17,076 |
| Prepaid expenses and other | 25,325 | 19,194 |
| Total current assets | 233,951 | 256,276 |
| Long-term assets: | ||
| Long-term restricted cash | 773 | — |
| Property and equipment, net of accumulated depreciation and amortization of $23,400 and $21,305, respectively | 10,699 | 9,891 |
| Operating lease right-of-use assets | 21,114 | 7,161 |
| Deferred contract costs, noncurrent | 21,908 | 22,084 |
| Deposits and other | 5,476 | 5,068 |
| Deferred income taxes, net | 58,939 | 68,583 |
| Total assets | $352,860 | $369,063 |
| LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities: | ||
| Current maturities of long-term debt | $3,562 | $3,093 |
| Accounts payable | 4,715 | 5,275 |
| Accrued compensation, benefits and commissions | 36,383 | 33,586 |
| Other accrued liabilities | 19,156 | 20,688 |
| Operating lease liabilities, current | 4,606 | 3,967 |
| Deferred revenue, current | 206,880 | 257,983 |
| Total current liabilities | 275,302 | 324,592 |
| Long-term liabilities: | ||
| Long-term debt, net of current maturities | 64,397 | 82,187 |
| Deferred revenue, noncurrent | 19,119 | 23,214 |
| Operating lease liabilities, noncurrent | 19,348 | 7,064 |
| Other long-term liabilities | 1,977 | 1,451 |
| Total liabilities | 380,143 | 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 91,719 and 91,120 shares, respectively | 9 | 9 |
| Additional paid-in capital | 182,185 | 177,533 |
| Accumulated other comprehensive loss | (6,253) | (7,389) |
| Accumulated deficit | (202,108) | (238,482) |
| Treasury stock | (1,116) | (1,116) |
| Total stockholders' deficit | (27,283) | (69,445) |
| Total liabilities and stockholders' deficit | $352,860 | $369,063 |
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(In thousands, except per share amounts)
| Three Months EndedSeptember 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $103,428 | $104,672 | $311,746 | $314,540 |
| Cost of revenue | 41,490 | 41,135 | 123,421 | 126,230 |
| Gross profit | 61,938 | 63,537 | 188,325 | 188,310 |
| Operating expenses: | ||||
| Sales and marketing | 37,939 | 35,781 | 110,214 | 112,299 |
| General and administrative | 18,241 | 16,528 | 52,617 | 54,460 |
| Reorganization costs | 752 | 1,431 | 1,936 | 4,639 |
| Litigation costs and related recoveries: | ||||
| Litigation settlement | — | 58,512 | (36,196) | 58,512 |
| Professional fees and other costs of litigation | 621 | 879 | 4,810 | 5,406 |
| Litigation costs and related recoveries, net | 621 | 59,391 | (31,386) | 63,918 |
| Total operating expenses | 57,553 | 113,131 | 133,381 | 235,316 |
| Operating income (loss) | 4,385 | (49,594) | 54,944 | (47,006) |
| Non-operating income and (expenses): | ||||
| Interest expense | (1,446) | (1,577) | (4,750) | (4,401) |
| Other income (expenses), net | 531 | (642) | 1,686 | 1,814 |
| Income (loss) before income taxes | 3,470 | (51,813) | 51,880 | (49,593) |
| Income taxes | (704) | 8,713 | (15,506) | 6,662 |
| Net income (loss) | 2,766 | (43,100) | 36,374 | (42,931) |
| Other comprehensive income | ||||
| Foreign currency translation gain (loss) | (329) | 1,555 | 2,575 | (9) |
| Derivative instrument and other adjustments, net of tax | 247 | (1,284) | (1,439) | (1,475) |
| Comprehensive income (loss) | $2,684 | $(42,829) | $37,510 | $(44,415) |
| Net income (loss) per share attributable to common stockholders: | ||||
| Basic | $0.03 | $(0.47) | $0.40 | $(0.48) |
| Diluted | $0.03 | $(0.47) | $0.39 | $(0.48) |
| Weighted average number of shares of Common Stock outstanding: | ||||
| Basic | 92,177 | 90,776 | 91,851 | 90,343 |
| Diluted | 95,291 | 90,776 | 94,333 | 90,343 |
Unaudited Condensed Consolidated Statements of Stockholders' Deficit
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Common Stock, Shares | ||||
| Beginning of period | 92,504 | 90,698 | 91,120 | 89,595 |
| Exercise of stock options for cash | 18 | — | 22 | — |
| Restricted and performance stock units vested | 88 | 143 | 1,468 | 1,246 |
| Retired shares of Common Stock | (891) | — | (891) | — |
| End of period | 91,719 | 90,841 | 91,719 | 90,841 |
| Total Stockholders' Deficit, beginning of period | $(29,035) | $(36,119) | $(69,445) | $(39,496) |
| Common Stock, Amount | ||||
| Beginning of period | 9 | 9 | 9 | 9 |
| Exercise of stock options for cash | — | — | — | — |
| Restricted and performance stock units vested | — | — | — | — |
| Retired shares of Common Stock | — | — | — | — |
| End of period | 9 | 9 | 9 | 9 |
| Additional Paid-in Capital | ||||
| Beginning of period | 183,117 | 172,951 | 177,533 | 167,988 |
| Stock based compensation expense | 2,786 | 2,174 | 8,361 | 7,137 |
| Exercise of stock options for cash | 49 | — | 58 | — |
| Restricted and performance stock units vested | — | — | — | — |
| Retired shares of Common Stock | (3,767) | — | (3,767) | — |
| End of period | 182,185 | 175,125 | 182,185 | 175,125 |
| Accumulated Other Comprehensive Loss | ||||
| Beginning of period | (6,171) | (5,922) | (7,389) | (4,167) |
| Other comprehensive income (loss) | (82) | 271 | 1,136 | (1,484) |
| End of period | (6,253) | (5,651) | (6,253) | (5,651) |
| Accumulated Deficit | ||||
| Beginning of period | (204,874) | (202,041) | (238,482) | (202,210) |
| Net income (loss) | 2,766 | (43,100) | 36,374 | (42,931) |
| End of period | (202,108) | (245,141) | (202,108) | (245,141) |
| Treasury Stock | (1,116) | (1,116) | (1,116) | (1,116) |
| Total Stockholders' Deficit, end of period | $(27,283) | $(76,774) | $(27,283) | $(76,774) |
Unaudited Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $36,374 | $(42,931) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Stock-based compensation expense | 8,361 | 7,137 |
| Depreciation and amortization | 2,839 | 2,650 |
| Accretion and amortization of debt discount and issuance costs | 491 | 600 |
| Deferred income taxes | 9,708 | (12,951) |
| Amortization and accretion related to operating right of use assets | 3,697 | 3,359 |
| Other | 26 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 50,301 | 51,058 |
| Prepaid expenses, deposits and other | (6,898) | (196) |
| Deferred contract costs | 319 | 4,020 |
| Accounts payable | (653) | (1,390) |
| Accrued compensation, benefits, commissions and other | (4,297) | 48,297 |
| Deferred revenue | (59,609) | (60,822) |
| Net cash provided by (used in) operating activities | 40,659 | (1,169) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | (3,865) | (2,698) |
| 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 | (3,865) | 7,128 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from the 2024 Credit Facility | — | 2,938 |
| Principal payments on revolving line of credit borrowings | (15,000) | — |
| Principal payments on term loan borrowings | (2,813) | (2,625) |
| Payments to repurchase and retire Common Stock | (3,767) | — |
| Principal payments on capital leases | (289) | (267) |
| Proceeds from exercise of employee stock options | 59 | — |
| Net cash provided by (used in) financing activities | (21,810) | 46 |
| Effect of foreign currency translation changes | 5,720 | (1,934) |
| Net change in cash, cash equivalents and restricted cash | 20,704 | 4,071 |
| Cash, cash equivalents and restricted cash at beginning of period | 89,222 | 115,852 |
| Cash, cash equivalents and restricted cash at end of period | $109,926 | $119,923 |
Unaudited Condensed Consolidated Statements of Cash Flows, Continued
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for interest | $4,286 | $3,789 |
| Cash paid for income taxes | 3,203 | 2,662 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Increase in payables for capital expenditures | $— | $34 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.