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Sep 30, 2023
Rimini Street Q3 2023 Earnings Report
Rimini Street's Q3 2023 financial performance reflected revenue growth and increased profitability.
Key Takeaways
Rimini Street announced its Q3 2023 financial results, with revenue increasing by 5.4% year-over-year to $107.5 million. The company reported net income of $6.8 million, a significant improvement compared to the net loss of $0.4 million in the same period last year. Operating income also saw a substantial increase, reaching $11.2 million compared to $2.0 million in the previous year.
Revenue increased by 5.4% year-over-year, reaching $107.5 million.
Operating income rose to $11.2 million, compared to $2.0 million in the same period last year.
Net income was $6.8 million, a significant improvement from the net loss of $0.4 million year-over-year.
Annualized Recurring Revenue increased by 4.1% to $416.3 million.
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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