Rimini Street Announces Fiscal Third Quarter 2018 Financial Results 


Quarterly revenue of $62.6 million, up 17% year over year

Quarterly gross margin 64.5%

1,732 active clients at September 30, 2018, up 19% year over year

During the third quarter, we continued our stated plan to invest in global sales, marketing and service delivery capacity and capabilities in order to drive future revenue growth, stated Seth A. Ravin , Rimini Street co-founder and CEO. We also launched new marketing campaigns and our new Business-Driven Roadmap sales strategy to address the large and growing market opportunity for enterprise software support. Additionally, we continued our global expansion and filled key leadership positions. Global demand for our services continued to be strong, with revenue outside the United States growing 32% year over year in the third quarter 2018 and representing 36% of total revenue in the quarter. During the third quarter, we paid off and completed refinancing our former credit facility with a previously announced $140 million equity transaction, significantly reducing our total debt to approximately $3 million, stated Tom Sabol, Rimini Street CFO. The streamlined capital structure improves the balance sheet and lowers our cost of capital going forward. …
[Read on via official release]

Source: US SEC
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