Key Highlights

  • RMNI stock climbs 19.55% to $4.77 after third-quarter 2026 results.
  • Quarterly Revenue hit $112.1 million, an 8.3% gain on $103.4 million a year earlier.
  • GAAP Net Income reached $6.5 million, versus $2.8 million in the third quarter of 2025.
  • Adjusted EBITDA advanced 52.0% to $15.1 million from $9.9 million.
  • Fourth-quarter revenue is projected at $117 million to $119 million.

Strong Third-Quarter Profit Growth Sends the Shares Sharply Higher

Rimini Street (NASDAQ:RMNI) shares are up 19.55% at $4.77 today, reacting to third-quarter 2026 results for the period ended September 30. The report was slated for October 29, and the advance is a sharp turnaround for a stock still trading below the $5 threshold.

Rimini Street supplies third-party support, managed services and agentic AI-focused ERP offerings for enterprise software. The company calls itself a leading independent support provider for Oracle (NYSE:ORCL), SAP and VMware products, catering to customers who prefer an alternative to vendor-run maintenance.

Gains appeared across the income statement. Net profit more than doubled from the prior-year quarter, and cash generation funded both share Buybacks and Debt paydown during the period.

Billings Outpace Revenue as Adjusted EBITDA Rises 52.0%

Quarterly revenue reached $112.1 million, up 8.3% from $103.4 million a year earlier. On an adjusted basis that excludes PeopleSoft, revenue was $109.3 million, a 10.7% increase.

GAAP net income of $6.5 million compares with $2.8 million in the third quarter of 2025, bringing nine-month net income to $10.3 million. Adjusted EBITDA rose 52.0% to $15.1 million from $9.9 million.

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

Billings expanding faster than revenue points to firmer contract activity in the quarter, although accounting rules spread that benefit across later periods.

Cash Declines to $93.3 Million as Debt Repayment and Buybacks Proceed

Cash stood at $93.3 million on September 30, compared with $108.7 million a year earlier. Within the quarter, Rimini bought back $5.0 million of stock and prepaid $5.0 million of debt. Including year-to-date Capital returns and debt reduction, the total reached $30.9 million, leaving $43.4 million of term Loan debt outstanding.

The company introduced Rimini Govern for AI, a managed offering for governing and tracking AI agents and workflows. It struck a Partnership with Datacom to provide Oracle and SAP support across Australia and New Zealand, and named Keith Costello as Chief Operating Officer and Alexander Guasch as Chief Delivery Officer.

Client expansions included Khimji Ramdas Group, Chen Full International and AUTOBACS SEVEN. A user survey the company cited found that 66% of VMware respondents use third-party support or are weighing it.

Fourth-Quarter Guidance of $117 Million to $119 Million and the Rule of 20 Target

Profit, EBITDA and billings all outpaced revenue growth in the quarter. Management guided fourth-quarter revenue to $117 million to $119 million and reaffirmed its full-year Rule of 20 goal. The fourth-quarter report and the pace of debt reduction are the next items for shareholders to monitor.

Cash of $93.3 million against $43.4 million of term loan debt leaves room to keep buying back shares and prepaying debt. At $4.77, the shares still trade under the $5 level that marks penny stocks, even after today's gain.