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Sep 30, 2024
Rimini Street Q3 2024 Earnings Report
Announced Q3 2024 financial results, with revenue decreasing and a net loss reported.
Key Takeaways
Rimini Street reported a decrease in revenue and a net loss for the third quarter of 2024. Revenue was $104.7 million, a 2.6% decrease compared to the same period last year. The company experienced an operating loss of $49.6 million and a net loss of $43.1 million, compared to an operating income of $11.2 million and a net income of $6.8 million in the same period last year.
Revenue decreased by 2.6% year-over-year to $104.7 million.
The company reported a net loss of $43.1 million, compared to a net income of $6.8 million in the same period last year.
Active Clients decreased slightly to 3,097.
Rimini Street launched Rimini Support™, Rimini Protect™ and Rimini Consult™ services for VMware.
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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