Business Wire

Rimini Street Announces Preliminary Fourth Quarter and Full Fiscal Year 2016 Financial Results

Del

Rimini Street, Inc., the leading global independent provider of enterprise software support services for SAP SE’s (NYSE:SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail, Oracle Agile PLM and Oracle ATG Web Commerce software, today announced its preliminary financial results for the fourth quarter and full fiscal year ending December 31, 2016.

Record Results and 44 Consecutive Quarters of Growth

The Company’s fourth quarter of 2016 marked its 44th consecutive quarter of growth, and fourth quarter and full fiscal year 2016 results include new records in revenue, full year annualized subscription revenue and deferred revenue.

Rimini Street also completed a record number of new client transactions worldwide in the fourth quarter with 166 clients signed, representing a 57% increase year over year. Additionally, for the full fiscal year, the Company completed a record 496 new client transactions, a 60% increase year over year, and increased its total signed clients to date by 39% year over year to 1,763.

Additional fourth quarter and full fiscal year results:

  • Revenue for the fourth quarter of 2016 increased 42% year over year to $47 million.
  • Annualized subscription revenue for the fourth quarter of 2016 increased 42% year over year to $188 million.
  • Revenue for full fiscal year 2016 increased 36% year over year to $161 million.
  • Deferred revenue for full fiscal year 2016 increased 53% year over year to $164 million.
  • Billings for the full fiscal year 2016 increased 56% year over year to $218 million.
  • Hired 197 new employees worldwide in fiscal year 2016, expanding the global workforce 30% year over year to over 850 professionals.

The above information is preliminary and subject to the completion of our year-end financial audit.

Fiscal 2016 Achievements and Highlights

  • Invested in growth and expansion worldwide including:
  • Launched support for two new product lines – SAP HANA Database and Oracle ATG Web Commerce – expanding the Company’s portfolio to 13 products, and increasing the opportunities for Oracle and SAP licensees to switch to Rimini Street support.
  • Set a new industry standard for premium enterprise software support with the unilateral implementation of improved Service Level Agreements for all clients at no additional cost, featuring a guaranteed 15-minute or less response time for Priority 1 critical cases and a 30-minute or less response for Priority 2 urgent cases.
  • Closed a record number of support cases – more than 19,000 cases across 42 countries – and achieved an average client satisfaction score of 4.83 out of 5.0 (score of 5.0 being “excellent”) for service delivery and resolution.
  • Delivered more than 125,000 tax, legal and regulatory updates to date, to clients worldwide through the Company’s innovative combination of patent-pending tax, legal and regulatory technology, a proven methodology and ISO 9001-certified development processes.
  • Closed a $125 million debt financing round and closed a $10 million Series C equity round.
  • Achieved a perfect “zero non-conformities” ISO 27001:2013 information security certification score for the third consecutive year. Rimini Street remains the first and only ISO 27001-certified provider of independent enterprise software support services.
  • Honored with 13 awards in 2016 including being named as an Inc. 5000 Company for the sixth consecutive year, and receiving a Best in Business award for Company of the Year.
  • Received five awards for excellence in customer service including four Stevie International Business Awards for IT Department of the Year, Customer Service Department of the Year, and Customer Service Team of the Year for Siebel and SAP.
  • Partnered with over 60 charities around the world and donated hundreds of hours of volunteer service through the Rimini Street Foundation, a forum for investing back into communities around the world with in-kind donations, employee time and financial contributions.

“Our fiscal 2016 fourth quarter and full fiscal year results demonstrate a continued growing global demand for Rimini Street’s award-winning support services and a solid execution against our global business plan,” said Seth Ravin, Rimini Street CEO. “Over 1,750 Oracle and SAP clients, including more than 155 of the Fortune 500 and Global 100, have already chosen Rimini Street as their trusted partner and premium support provider since the Company’s inception more than a decade ago. As we execute our 2017 global business plan, we maintain our relentless focus and commitment to providing our clients with the best value and highest level of support available in the industry.”

To learn more, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

About Rimini Street, Inc.

Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,750 global Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.

Forward-Looking Statements

This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “plan,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.

Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2017. All rights reserved.

Contact information

Rimini Street, Inc.
Michelle McGlocklin, +1-925-523-8414
mmcglocklin@riministreet.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Boehringer Ingelheim Marks Great Progress in Immuno-oncology Research Partnerships in 201711.12.2017 13:00Pressemelding

2017 marks a year of significant advancement for Boehringer Ingelheim as it secured a range of external partnerships with the goal of transforming the lives of patients and winning the fight against cancer. External partnerships complement Boehringer Ingelheim’s two-pronged research strategy – investigating both cancer cell-directed therapies and immune cell-directed therapies. This multi-faceted approach offers the potential to bring innovative opportunities to the Boehringer Ingelheim oncology portfolio and novel therapies to patients. “Immuno-oncology is radically shifting the research and treatment landscape in oncology. We believe that the greatest success in difficult-to-treat cancers will be achieved with immuno-oncology and its combination with cancer cell directed therapy, which is why we are committing significant resources in both areas,” said Jonathon Sedgwick, Ph.D., Vice

Valence Advises SK Capital on Its Acquisition of ICL’s Fire Safety and Oil Additives Businesses11.12.2017 12:47Pressemelding

The Valence Group acted as lead financial advisor to SK Capital Partners on its announced acquisition of the Fire Safety and Oil Additives businesses of Israel Chemicals Ltd. (“ICL”) for approximately $1 billion. The transaction is expected to close during the first half of 2018. The Businesses, headquartered in St. Louis, Missouri, have global operations and are market leaders in each of their segments. The ICL Fire Safety business is a formulator and manufacturer of fire management chemicals. Its Phos-Chek fire retardants, Class A and B foams, and water enhancing gels are the world’s leading chemical solutions for managing wildland, military, industrial and municipal fires, and are used in partnership with fire management agencies across the globe. The ICL Oil Additives business provides high quality phosphorus pentasulfide used in the preparation of ZDDP-based lubricant additives, i

Smith & Nephew Announce European Launch of Handheld Imaging Technology Heralding a New Era of Evidence-Based Decision Making in Wound Care11.12.2017 10:18Pressemelding

Smith & Nephew (LSE: SN, NYSE: SNN), the global medical technology business, today announces the European launch of MolecuLight i:X TM, the easy to use, handheld imaging device that instantly measures wound surface area and visualises the presence and distribution of potentially harmful bacteria in wounds.2,3 This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211005434/en/ Currently wound assessments are made with the naked eye which can lack the accuracy required to most effectively guide clinical decision making.4 Using fluorescence, MolecuLight i:X quickly, safely, and easily visualises potentially harmful bacteria1,2,3 in wounds which may otherwise lack signs or symptoms of infection. It enhances a clinician’s ability to choose the right therapy, at the right time for their patient1,

Dr Amal Al Qubaisi Wins Parliamentarian Excellence Award as Best President of Arab Parliament11.12.2017 09:41Pressemelding

The Arab Inter-Parliamentary Union (AIPU) has honored Her Excellency Dr Amal Al Qubaisi, Speaker of the Federal National Council (FNC) – the United Arab Emirates parliament, with the Parliamentarian Excellence Award in the Presidents of Arab Parliaments category. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211005411/en/ Her Excellency Dr Amal Al Qubaisi, Speaker of the Federal National Council (FNC) – the UAE parliament (Photo: AETOSWire) The award honors Al Qubaisi as ‘first female leader of a parliament in the Arab world’, celebrating her achievements on a national, regional and global scale, as well as the accomplishments made by FNC under her leadership. It also acknowledges the pioneering parliamentarian initiatives, projects and programs she has spearheaded and her significant contr

Financial Market Regulator Grants EU Payment License to DIMOCO Payment Services11.12.2017 08:00Pressemelding

The Austrian Financial Market Authority (FMA) granted a license under the Payment Service Act to DIMOCO Payment Services . The awarded license allows DIMOCO Payment Services to contribute to the payment value chain, offering merchants a single technical interface and a unified clearing & settlement process for many payment methods, including credit cards, online bank transfers, SEPA and direct debit cards. “We differ from most PSPs in the global payments ecosystem with our personal touch,” said Boris Kersten, Managing Director of DIMOCO Payment Services. “We proactively and personally monitor the overall payment process. In addition to monitoring individual transactions, we make recommendations and take actions to decrease chargebacks and fraudulent transactions. This process is not simply left to algorithms, the human element is added to the mix resulting in the protec

Top UK university hospital unveils data that support the use of rapid infusion for Truxima® (CT-P10, biosimilar rituximab) in patients with advanced-stage follicular lymphoma11.12.2017 08:00Pressemelding

New data from University College London Hospitals NHS Foundation Trust (UCLH) on the safety and tolerability of rapid infusion of CT-P10 were presented this weekend at the 59th American Society of Hematology (ASH) Annual Meeting. The results showed that rapid infusion of CT-P10 was well-tolerated across all patient groups and patients could be safely switched from reference rituximab to CT-P10 without reverting to slower infusion rates1. The independent study examined the infusion-related reactions (IRRs) in three different patient groups: rituximab naive, those switching directly from reference rituximab to CT-P10, and those that received their last dose of reference rituximab at least 6 months prior to the study.1 The administration of rituximab is associated with IRRs which occur most frequently during the first infusion. To reduce the risk of IRRs, it is the man

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom