RMNI | Market Cap: $441.5M (07/13/26)
Industry:
Software

DESCRIPTION

Rimini Street is a third-party enterprise software support company. Its core product, Rimini Support, replaces the annual maintenance contracts that Oracle, SAP, and other enterprise software vendors sell to their customers. Enterprises that license software like ERP, databases, and HR systems typically pay their vendor an annual support fee of 20-23% of the original license cost. Rimini Street provides equivalent or broader support for roughly half that price, with no requirement to upgrade to new software versions. Rimini Street serves over 3,100 active client instances — large corporations, government agencies, and universities — through a direct global sales force, with sales cycles of 6-12 months aligned to when vendor support contracts come up for renewal. Beyond Rimini Support, the company has expanded into application managed services (Rimini Manage), security, interoperability tools, and professional services. Rimini Street recently launched Rimini Agentic UX, an AI-driven automation layer built with ServiceNow that sits on top of clients' existing ERP systems. Revenue is approximately 95-96% subscription-based, recognized ratably over contract terms, with gross margins around 60-61%. Revenue retention of 88-90% is the primary baseline revenue driver, and roughly two-thirds of clients already purchase more than one product, making cross-sell a key growth lever. Rimini Street is also expanding its indirect channel, pursuing the U.S. federal market via a GSA schedule, and growing managed services for cloud SaaS platforms like Workday and Salesforce.

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