Rimini Street ( (RMNI) ) has issued an announcement.
Rimini Street announced its financial results for the fourth quarter and full year of 2024, reporting a slight increase in quarterly revenue to $114.2 million, up 1.9% year-over-year, but a decrease in annual revenue to $428.8 million, down 0.6% from 2023. The company highlighted new client acquisitions and expansions, including partnerships with Gunung Raja Paksi and Bumhan Mecatec, and announced collaborations with ServiceNow and expansions in their database security and interoperability solutions. Despite a decrease in net income and cash reserves, Rimini Street continues to focus on innovation and client satisfaction, achieving a high client satisfaction rating and closing numerous support cases globally.
More about Rimini Street
Rimini Street, Inc. is a global provider of end-to-end enterprise software support and innovation solutions, recognized as the leading third-party support provider for Oracle, SAP, and VMware software. The company offers a comprehensive portfolio of solutions to manage, support, and optimize enterprise applications, databases, and technology software, serving a diverse clientele including Fortune Global 100, Fortune 500, midmarket, public sector, and government organizations.
YTD Price Performance: 27.67%
Average Trading Volume: 343,077
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $293.7M
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