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Jun 30, 2024
Rimini Street Q2 2024 Earnings Report
Reported a revenue decrease and a shift to an operating loss compared to the previous year.
Key Takeaways
Rimini Street reported a decrease in revenue and a shift to an operating loss in Q2 2024. Revenue was $103.1 million, a 3.1% decrease year-over-year. The company incurred a net loss of $1.1 million, compared to a net income of $4.3 million in the same period last year. Reorganization costs impacted the financial results.
Revenue decreased by 3.1% year-over-year to $103.1 million.
The company experienced an operating loss of $(0.8) million, compared to an operating income of $10.3 million in the same period last year.
Net loss was $(1.1) million, a decrease compared to a net income of $4.3 million year over year.
Active clients decreased slightly to 3,007 from 3,026 in the prior year.
Forward Guidance
The company is continuing to suspend guidance until there is more clarity around impacts from current litigation activity before the U.S. Federal courts in the Company’s ongoing litigation with Oracle.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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