RMNI - Rimini Street GAAP EPS of $0.05 in-line revenue of $106.4M beats by $0.24M

August, 02 2023 03:48 PM Rimini Street Inc.

2023-08-02 15:48:38 ET

Rimini Street press release ( NASDAQ: RMNI ): Q2 GAAP EPS of $0.05 in-line.
Non-GAAP Net Income was $8.8 million for the 2023 second quarter compared to $6.4 million for the same period last year.
Revenue of $106.4M (+5.1% Y/Y) beats by $0.24M .
U.S. revenue was $54.0 million, an increase of 0.1% compared to $53.9 million for the same period last year.
International revenue was $52.4 million, an increase of 10.9% compared to $47.3 million for the same period last year.
Annualized Recurring Revenue was $410.1 million for the 2023 second quarter, an increase of 3.4% compared to $396.7 million for the same period last year.
Revenue Retention Rate was 94% for the trailing twelve months ended June 30, 2023 and 95% for the comparable period ended June 30, 2022.
Subscription revenue of $102.5 million, which accounted for 96.3% of total revenue for the 2023 second quarter, compared to subscription revenue of $99.2 million, which accounted for 98.0% of total revenue for the same period last year.
Billings was $104.4 million, an increase of 2.8% compared to $101.6 million for the same period last year.

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