Rimini Street (RMNI) Q1 2026 earnings summary

Executive summary

• Achieved Q1 2026 revenue of $105.5 million, up 1.2% year-over-year; excluding PeopleSoft support, revenue grew 5.2%.

• Net income was $1.4 million, down from $3.4 million in Q1 2025.

• Billings increased 19.9%–22.9% year-over-year, and RPO rose 16.4% to $643.6 million.

• Active clients increased to 3,130, with a revenue retention rate of 88%.

• Continued strategic investments in Agentic AI ERP solutions, expanded sales and partner ecosystem, and launched new offerings.

Financial highlights

• Gross margin: 59.0% (GAAP), down from 61.0% prior year.

• Adjusted EBITDA: $8.9 million (8.4% margin), down from $15.7 million (15.1% margin) prior year.

• Operating cash flow: $24.5 million, compared to $33.7 million prior year.

• Cash and cash equivalents: $132.2–$133.3 million at quarter-end, up from $122.6 million prior year.

• Deferred revenue: $277.3 million, up from $256.4 million prior year.

Outlook and guidance

• Q2 2026 revenue guidance: $106–$108 million.

• Full-year 2026 guidance: 4–6% revenue growth, adjusted EBITDA margin 12.5–15.5%, targeting rule of twenty.

• No change to annual guidance despite Q1 outperformance; management prefers to see another quarter before considering a raise.

• Management expects continued revenue reductions from the Oracle PeopleSoft wind down through July 2028.