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Sep 30, 2020
Rimini Street Q3 2020 Earnings Report
Achieved record quarterly revenue above guidance, record new sales invoicing and backlog, calculated billings growth, quarterly gross margin above guidance, maintained a revenue retention rate, produced another consecutive quarter of net income, further strengthened the balance sheet with record total cash, and generated operating cash flow.
Key Takeaways
Rimini Street announced fiscal third quarter 2020 financial results with quarterly revenue of $82.5 million, up 19.3% year over year, and quarterly calculated billings of $68.3 million, up 33.3% year over year.
Revenue was $82.5 million, an increase of 19.3% compared to the same period last year.
Annual Recurring Revenue was $327 million, an increase of 18.6% compared to the same period last year.
Active Clients were 2,365, an increase of 16.4% compared to the same period last year.
Net income was $3.3 million compared to $1.4 million for the same period last year.
Forward Guidance
The Company is providing fourth quarter 2020 revenue guidance to be in the range of $82.5 million to $83.5 million. The Company is also raising full year revenue guidance to be in the range of $321.5 million to $322.5 million, up from a range of $314 million to $320 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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