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Dec 31, 2023
Rimini Street Q4 2023 Earnings Report
Announced fiscal fourth quarter and annual 2023 financial and operating results.
Key Takeaways
Rimini Street reported a revenue increase of 3.2% for the fourth quarter of 2023, reaching $112.1 million, and a net income of $9.4 million, a significant improvement from the net loss of $5.3 million in the same period last year. The annualized recurring revenue also saw a rise of 2.9%, amounting to $432.3 million. The company's operating income shifted from a loss to a profit, with $11.5 million for the quarter.
Revenue increased by 3.2% to $112.1 million compared to the same period last year.
Annualized Recurring Revenue grew by 2.9% to $432.3 million.
Operating income was $11.5 million, a turnaround from an operating loss of $5.6 million in the same period last year.
Net income reached $9.4 million, compared to a net loss of $5.3 million in the prior year.
Revenue by Segment
Revenue by Geographic Location
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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