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Mar 31, 2023
Rimini Street Q1 2023 Earnings Report
Reported an increase in revenue and net income, driven by expanded solutions portfolio and new client acquisitions.
Key Takeaways
Rimini Street announced its Q1 2023 financial results, with revenue increasing by 7.8% year-over-year to $105.5 million. The company reported a net income of $5.6 million, up 82.7% year-over-year. The company exceeded first quarter 2023 guidance.
Revenue increased by 7.8% year-over-year to $105.5 million.
Net income increased by 82.7% year-over-year to $5.6 million.
Gross margin improved to 62.7% compared to 62.0% in the prior year.
Launched expanded solutions portfolio, including Rimini ONE.
Forward Guidance
The Company is providing second quarter 2023 revenue guidance to be in the range of $105.0 million to $107.0 million and maintaining full year 2023 revenue guidance to be in the range of $420.0 million to $430.0 million. The Company is also maintaining full year 2023 Adjusted EBITDA guidance in the range of $52 million to $58 million.
Positive Outlook
- Second quarter 2023 revenue guidance to be in the range of $105.0 million to $107.0 million
- Maintaining full year 2023 revenue guidance to be in the range of $420.0 million to $430.0 million.
- Maintaining full year 2023 Adjusted EBITDA guidance in the range of $52 million to $58 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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