Key Highlights

  • RMNI shares trading up 19.55% to $4.77 following third-quarter 2026 results.
  • Third-quarter Revenue reached $112.1 million, up 8.3% from $103.4 million a year earlier.
  • GAAP Net Income came in at $6.5 million, compared with $2.8 million in the same quarter of 2025.
  • Adjusted EBITDA rose 52.0% to $15.1 million from $9.9 million.
  • Fourth-quarter revenue is guided to a range of $117 million to $119 million.

Third-Quarter Profit Gain Lifts Rimini Street Shares

Rimini Street (NASDAQ:RMNI) shares are trading up 19.55% at $4.77 today after the company reported third-quarter 2026 results for the period ended September 30. The report was scheduled for October 29, and the move represents a sharp Reversal for a stock that sits below the $5 mark.

Rimini Street provides third-party support, managed services and agentic AI-focused ERP solutions for enterprise software. It describes itself as a leading independent support provider for Oracle (NYSE:ORCL), SAP and VMware products, serving clients that want an alternative to vendor-run maintenance.

The gains were broad across the income statement. Profit more than doubled from the prior-year quarter, and cash generation supported both share repurchases and Debt reduction during the period.

Revenue Growth, a 52% EBITDA Jump and Calculated Billings Strength

Quarterly revenue was $112.1 million, up 8.3% from $103.4 million a year earlier. Adjusted revenue, which excludes PeopleSoft, was $109.3 million, up 10.7%.

GAAP net income was $6.5 million, up from $2.8 million in the third quarter of 2025, and nine-month net income reached $10.3 million. Adjusted EBITDA climbed 52.0% to $15.1 million from $9.9 million.

Annualized Recurring Revenue stood at $421.0 million, up 7.7%, while adjusted annualized recurring revenue rose 9.8% to $410.4 million. Calculated billings jumped 21.0% to $80.5 million, and remaining performance obligations grew 6.8% to $652.9 million.

Billings growth that outpaced revenue growth by a wide Margin points to stronger contract activity during the quarter, though revenue recognition spreads that benefit over future periods.

Cash Position, Debt Paydown and New Executive Hires

Cash totaled $93.3 million at September 30, down from $108.7 million a year earlier. During the quarter, the company repurchased $5.0 million of common stock and prepaid $5.0 million of debt. Year-to-date Capital returns and debt reduction have totaled $30.9 million, leaving term Loan debt at $43.4 million.

Rimini Street also launched Rimini Govern for AI, a managed service for governing and measuring AI agents and workflows. It signed a Partnership with Datacom to offer Oracle and SAP support in Australia and New Zealand, and appointed Keith Costello as Chief Operating Officer and Alexander Guasch as Chief Delivery Officer.

The company also reported client expansions, including Khimji Ramdas Group, Chen Full International and AUTOBACS SEVEN. A user survey it cited found that 66% of VMware respondents are using or considering third-party support.

Fourth-Quarter Revenue Guide of $117 Million to $119 Million Sets the Next Marker

The jump follows a quarter in which profit, EBITDA and billings all grew faster than revenue. Management guided fourth-quarter revenue to between $117 million and $119 million and reiterated its full-year Rule of 20 target. The fourth-quarter report and the pace of the debt paydown will be the next data points for shareholders to track.

Cash of $93.3 million sits against $43.4 million of term loan debt, giving the company room to keep funding repurchases and prepayments. At $4.77, the stock still trades below the $5 level that defines penny stocks, despite the day's gain.