Rimini Street, a global leader in enterprise software support and managed services, and the top third-party support provider for Oracle, SAP, and VMware software, shared its financial and operational results for the second quarter of 2026. The company saw total revenue climb to $111.1 million, reflecting a 6.7% increase compared to the same period in 2025. This performance is attributed to the continued demand for its core Rimini Support™ offering, as well as growing adoption of broader enterprise software services.
International Revenue Growth Outpaces U.S. Sales
The international market emerged as the most dynamic, with revenue surging by 14.1% to $62.7 million. This growth outpaced the performance in the U.S., where revenue fell slightly to $48.4 million, marking a 1.6% decline. However, when the support revenue for Oracle’s PeopleSoft software is excluded, U.S. revenue climbed by 3.1%, highlighting underlying strength in the domestic market despite the headline dip.
Seth Ravin, president and CEO of Rimini Street, emphasized the company’s achievements in this quarter, noting four consecutive quarters of improved growth metrics. He stated that strong demand for Rimini Support™, alongside increasing adoption of its enterprise software portfolio, is driving business expansion. Ravin also pointed out that the company’s approach focuses on real innovation, such as deploying Agentic AI ERP solutions over existing systems to reduce costs, improve profitability, and enhance competitive advantage without requiring expensive upgrades or migrations.
Rimini Street demonstrated disciplined balance sheet management during the quarter. The company prepaid $10 million in debt, reducing its outstanding debt to $48.4 million. Cash and cash equivalents also rose to $123.4 million as of June 30, 2026, strengthening the company’s financial position.
Michael Perica, CFO of Rimini Street, noted that the company is leveraging expanding contracted revenue visibility and maintaining strong balance sheet discipline. Despite challenging comparisons due to a litigation settlement benefit in the prior year, Rimini Street has continued to deliver profitability and growth. During the quarter, the company made strategic investments in sales capacity, product innovation, and AI service offerings, including the launch of Rimini Govern™ for AI. This new offering provides AI agent governance and management as a service, expanding Rimini’s capabilities in the AI solutions space.
The company’s operating income for the second quarter was $6.4 million, a significant drop from $41.2 million in the same period of 2025. This decrease was primarily due to the one-time litigation settlement benefit recognized in the prior year. Non-GAAP operating income for the quarter was $9.2 million, down from $10.9 million the previous year. Despite this, Rimini Street maintained a focus on long-term growth, with notable increases in recurring revenue and client base.
Annualized recurring revenue reached $412.8 million in the second quarter of 2026, an increase of 4.8% compared to $394.1 million in the same period a year earlier. When excluding support services for Oracle’s PeopleSoft software products, adjusted annualized recurring revenue climbed to $401.1 million, representing an 8.1% increase. This highlights the company’s ongoing efforts to diversify its offerings and reduce dependence on a single product line.
The company’s active client count rose to 3,132 as of June 30, 2026, a 2.4% increase compared to 3,060 as of June 30, 2025. This growth in client numbers reflects the company’s ability to retain and expand its customer base. The revenue retention rate for the trailing 12 months remained steady at 90%, underscoring the company’s success in maintaining existing revenue streams.
Remaining performance obligations (RPO) rose to $636.9 million, an 8.0% increase from $589.8 million at the end of the previous year. Excluding PeopleSoft-related support services, adjusted RPO climbed to $627.5 million, an 8.8% increase, indicating strong long-term revenue visibility. Gross margin for the second quarter improved slightly to 60.9%, compared to 60.4% in the same quarter the year before, reflecting the company’s ongoing efficiency and cost management efforts.
Calculated billings for the quarter were $100.9 million, a decrease of 8.8% compared to $110.6 million in the prior year. Adjusted calculated billings, which exclude PeopleSoft support services, fell to $99.3 million, a decrease of 8.0% compared to $107.9 million in the same period last year. These declines were attributed to the company’s shift toward more recurring revenue models and a focus on long-term stability rather than short-term billings.
Looking ahead, Rimini Street is well-positioned to continue its growth trajectory, with a strong balance sheet, expanding client base, and a diversified portfolio of innovative solutions. The company’s strategic investments in AI governance and managed services are expected to drive further value for clients, while its disciplined financial management supports long-term sustainability and profitability.