Rimini Street: The Coast Is Clear, And It's Still Grossly Undervalued

2025-08-28 16:26:59 ET

Investment Thesis

Rimini Street, Inc. (NASDAQ: RMNI ) is up 27% since my June Buy call , and I think there’s still very big upside for the stock, especially after the settlement with Oracle. More importantly, Q2 showed me the core story hasn’t changed; almost all of the company’s revenue is subscription-based, retention sits at 90%, and ARR is sitting at $394 million. I highlighted that stickiness before, and the results from Q2 give me confidence even though top-line growth is modest. We’ll get into the numbers in a bit....

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