Key Highlights

  • Rimini Street shares rose 24.31% on October 30, 2026.
  • Third-quarter Revenue rose 8.3% to $112.1 million.
  • Net income more than doubled to $6.5 million from $2.8 million.
  • The company guided fourth-quarter revenue to $117 million to $119 million.

Rimini Street (NASDAQ:RMNI) ranked among Friday's leading US gainers, rising 24.31% after the enterprise software support provider reported third-quarter results on Thursday, October 29. The company posted revenue growth, sharply higher profit and reiterated its full-year targets, enough to lift the shares during one of the weakest sessions for technology stocks in months.

Growth and Profit Both Improved

Revenue rose 8.3% to $112.1 million from $103.4 million. Rimini is winding down support for Oracle (NYSE:ORCL)'s PeopleSoft products, so it also reports an adjusted figure excluding that business. On that basis revenue was $109.3 million, up from $98.8 million. Net Income more than doubled to $6.5 million from $2.8 million, non-GAAP net income rose to $11.3 million from $5.7 million, and adjusted EBITDA increased to $15.1 million from $9.9 million. Annualized Recurring Revenue reached $421.0 million, up from $391.0 million.

Outlook and Balance Sheet

Rimini guided to fourth-quarter revenue of $117 million to $119 million and reiterated its fiscal 2026 forecast under its "Rule of 20" framework, which targets revenue growth plus adjusted EBITDA Margin of at least 20. Chief executive Seth Ravin said Demand for its enterprise software solutions remained strong. During the quarter it repurchased $5.0 million of stock and prepaid $5.0 million of debt, leaving term Loan Debt of $43.4 million against cash of $93.3 million. It recorded no litigation costs, referencing a July 2025 settlement with Oracle, and appointed Keith Costello as chief operating officer and Alexander Guasch as chief delivery officer.

Cost Savings Pitch in a Weak Tape

Rimini sells third-party support and maintenance for enterprise software from vendors such as Oracle and SAP, offering an alternative to the software makers' own fees, and has expanded into supporting VMware customers. The S&P 500 fell 140.32 points, or 1.8%, to 7,580.07 and the Nasdaq Composite dropped 747.73 points, or 2.9%, to 25,437.00, as Intel (NASDAQ:INTC)'s weak outlook triggered a chip rout and Amazon (NASDAQ:AMZN)'s results revived worries about AI spending. Peers such as Grid Dynamics (NASDAQ:GDYN), OneSpan (NASDAQ:OSPN) and Asure Software (NASDAQ:ASUR) also rose on their own results.

Low-Priced Shares Can Swing

Rimini's shares sit at a low dollar level, which can amplify moves, and a gain of this size may invite profit-taking. Investors will watch fourth-quarter revenue against guidance, how quickly growth outside PeopleSoft offsets the wind-down, and whether newer offerings gain traction. Federal Reserve officials said rates may need to go higher, and futures priced a strong chance of a December hike, while US midterm elections on November 3 add another source of uncertainty.