Business Wire India

 

~Feel the pulse of the Earth on a journey to Kyushu—where people live alongside volcanoes.~

 

Have you ever been to a place where active volcanoes are part of everyday life? On the island of Kyushu, each season is different, yet equally beautiful. There are leisure and cultural activities everywhere from the mountains to the sea. Embark on a unique journey filled with surprising and poignant experiences.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218539608/en/

 

 

 

Kyushu has stunning volcanic landscapes and “satoyama” rural communities that live in harmony with nature. The best way to know it is to spend time here. Because we have a deep understanding of Kyushu’s geography and traditions, we can offer a one-stop service for everything guests need to have a very special journey.

 

Since ancient times, its people have felt deep reverence and gratitude toward these volcanoes, and their lifestyles have been formed around them.
Kyushu Volcano Tourism offers journeys to four active volcanoes and three Kyushu cities where people live alongside these powerful forces of nature.

 

 

• Website: https://www.k-volcano-tourism.com/

 

[Sustainable living & gastronomy]
This is a sustainable lifestyle and livelihood full of wisdom and ingenuity born from coexistence with volcanoes. Experience the finest food produced by agriculture industries and fisheries that inherit the bounty of the earth.

 

[Mountain worship & culture]
Volcanoes, even those with repeated eruptions, bring blessings. Mountain-based faith, in which people worship volcanoes, still lives on in the present day. Experience the unique historical culture born from this symbiosis.

 

 

[Nature & landscape]
It takes all five senses to appreciate the influence of volcanoes on the local nature, cityscapes, and panoramas. Places like a community surrounded by one of the world’s largest calderas and a town formed at the foot of a volcano are integrated with these geologically active mountains.

 

 

We invite guests on a journey to see how active volcanoes are a part of everyday life in Kyushu.

 

 

Suit the tastes of seasoned, wealthy travelers with one-stop service for planning and arranging special Kyushu Volcano trips. Our travel designers will provide you with full support. We can arrange veteran guides who live in Kyushu and know the area inside and out. We can arrange lodgings and restaurants that are hard to book, only known to those in the know. We can arrange special transportation such as helicopters. With the special permissions we have attained, we can guide you through adventure and sustainable activities in areas that are normally off-limits.

 

 

We invite you to experience our newly launched website and discover a collection of refined journeys inspired by the dramatic beauty of Kyushu’s volcanic landscapes.
Rooted in the concept of “Living with Volcanoes,” our bespoke experiences blend nature, culture, and gastronomy into deeply immersive, elevated travel moments.
For press inquiries, private previews, or curated site visits, please contact us via the website inquiry form or by email. We would be honored to share these exceptional stories with your audience.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218539608/en/

 

Business Wire India

Sai Life Sciences Limited (BSE: 544306 | NSE: SAILIFE), one of India’s leading integrated contract research, development and manufacturing organizations (CRDMOs), today announced plans to hire 700+ scientific, technical, and management professionals during 2026–27 as it scales capabilities to meet growing global demand for end-to-end drug discovery, development and manufacturing services.

The recruitment will span roles across medicinal chemistry, biology, DMPK, process and analytical development, formulation development, process engineering, technology transfer, quality, peptides, business development, program management, and manufacturing, among others.

 

A specific area of focus through this recruitment drive will be on attracting high-calibre scientists from leading institutions in India and globally, reflecting the increasing complexity of programs being entrusted to Sai Life Sciences and the higher scientific expectations placed on Indian CRDMOs by global innovator companies.

 

Making the announcement, Krishna Kanumuri, CEO & Managing Director, Sai Life Sciences, said: “We are at an inflection point for the Indian CRDMO industry. Global supply-chain rebalancing, the need for resilient development and manufacturing partners, and the rising sophistication of outsourced science are converging in India’s favour. Demand for high-quality, integrated partners is already visible, and this expansion is about preparing ourselves to serve that demand at scale — with the right infrastructure, strong digital and quality systems, and deep scientific capability.”

 

Krishna added, “For scientists, this is a genuinely exciting moment. They have the opportunity to work on globally relevant, high-impact programs while being based in India. We believe this phase of growth creates a compelling opportunity for Indian scientists anywhere in the world to consider building the next chapter of their careers here—without compromising on scientific rigor, exposure, or the quality of work.”

 

The new roles will support growing activity in areas such as complex small-molecule synthesis, high-throughput experimentation, data-enabled drug discovery, and late-stage CMC and commercial manufacturing scale-up.

 

As part of its talent strategy, Sai Life Sciences has launched a global alumni engagement platform and is strengthening learning, leadership development, and internal mobility programs to support long-term career growth.

 

Sai Life Sciences operates across India, the UK, and the US, serving global pharmaceutical and biotechnology companies. Its Manchester site focuses on process R&D, while its Boston Biology facility supports early discovery collaborations and client engagement. The majority of new roles will be based in Hyderabad, home to the company’s largest integrated R&D campus. With more than 3,400 scientists and professionals currently on board, the planned hiring reflects its continued growth and its expanding role as a global CRDMO partner.

Business Wire India

Fourth Quarter and Full Year 2025 Financial Highlights Include:

 

Remaining Performance Obligations (RPO) of $652.9 million, up 11.1% from the prior year

 

Adjusted Calculated Billings, full year 2025, up 4.2% from the prior year

 

Adjusted Annualized Recurring Revenue (ARR) up 3.1% from the prior year

 

Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the 2025 fourth quarter and fiscal year ended December 31, 2025.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219293814/en/

 

 

 

“Our fourth quarter results reflect solid execution and continued accelerating sales growth, adjusted for the Oracle PeopleSoft support and services wind down. We grew our core Rimini Support™ subscription billings and launched our next generation Agentic AI ERP solutions that can be easily and quickly deployed over the top of existing ERP Software without the cost or risk of unnecessary ERP Software upgrades, migrations or replatforming,” said Seth Ravin, president and CEO, Rimini Street. “ERP Software is peaking technically, and we will deliver new ERP capabilities and ERP Process execution faster, better and cheaper with more agility and speed to market leveraging Rimini Street’s Agentic AI ERP solutions. Meanwhile, we will keep existing ERP Software and releases delivering value for many years to come at significant savings.”

 

“Our fourth quarter results exceeded the guidance range we communicated at our Investor Day and demonstrate continued positive momentum entering 2026,” said Michael Perica, CFO, Rimini Street. “We invested in the development and launch of new AI-based solutions, streamlined global operations, achieved new RPO records in both the third and fourth quarters with increased year over year and sequential growth, increased our net cash year over year and ended fiscal year 2025 with a strong balance sheet and cash position. Capital allocation actions during the year included share repurchases and full repayment of the revolving line of credit.”

 

 

Select Fourth Quarter 2025 Financial Results

 

 

• Revenue was $109.8 million for the fourth quarter of 2025, a decrease of 3.9% compared to $114.2 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, revenue decreased by 0.4%.
• U.S. revenue was $47.5 million for the fourth quarter of 2025, a decrease of 10.6% compared to $53.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, U.S. revenue decreased by 4.3%.
• International revenue was $62.3 million for the fourth quarter of 2025, an increase of 2.0% compared to $61.1 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, international revenue increased by 2.6%.
• Subscription revenue was $104.9 million, which accounted for 95.6% of total revenue for the fourth quarter of 2025, compared to subscription revenue of $109.1 million, which accounted for 95.5% of total revenue for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, subscription revenue was $101.0 million, or 95.5% of total revenue, for the fourth quarter of 2025 compared to $101.4 million, or 95.5% of total revenue, for the same period last year.
• Annualized Recurring Revenue was $411.4 million for the fourth quarter of 2025, a decrease of 0.8% compared to $414.8 million for the same period last year; excluding the support services for Oracle’s PeopleSoft software products, Adjusted Annualized Recurring Revenue was $395.8 million for the fourth quarter of 2025, an increase of 3.1% compared to $384.0 million for the same period last year.
• Active Clients as of December 31, 2025 were 3,102, an increase of 0.7% compared to 3,081 Active Clients as of December 31, 2024.
• Revenue Retention Rate was 88% and 88% for the trailing 12 months ended December 31, 2025 and 2024, respectively.
• Calculated Billings was $171.3 million for the fourth quarter of 2025, a decrease of 0.4% compared to $172.1 million for the same period last year.
• Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $167.3 million for the fourth quarter of 2025, an increase of 0.7% compared to $166.2 million for the same period last year.
• Remaining Performance Obligations (RPO) was a record $652.9 million as of December 31, 2025, an increase of 11.1% compared to $587.9 million as of December 31, 2024; excluding the support services for Oracle’s PeopleSoft software products, Adjusted RPO was $632.2 million as of December 31, 2025, an increase of 11.7% compared to $565.9 million as of December 31, 2024.
• Gross margin was 60.4% for the fourth quarter of 2025 compared to 63.7% for the same period last year.
• Operating income was $5.0 million for the fourth quarter of 2025 compared to an operating income of $14.9 million for the same period last year.
• Non-GAAP Operating Income was $10.3 million for the fourth quarter of 2025 compared to $19.1 million for the same period last year.
• Net income was $0.7 million for the fourth quarter of 2025 compared to $6.7 million for the same period last year.
• Non-GAAP Net Income was $6.0 million for the fourth quarter of 2025 compared to $10.8 million for the same period last year.
• Adjusted EBITDA for the fourth quarter of 2025 was $11.5 million compared to $20.0 million for the same period last year.
• Both the basic and diluted earnings per share attributable to common stockholders were $0.01 for the fourth quarter of 2025, compared to a basic and diluted earnings per share of $0.07 for the same period last year.
• Cash and cash equivalents were $120.0 million at December 31, 2025 compared to $88.8 million at December 31, 2024.
• Repurchased approximately 1.0 million shares of Common Stock for approximately $3.8 million at an average price of $3.92 per share during the fourth quarter of 2025.

 

 

Select Full Year 2025 Financial Results

 

• Revenue was $421.5 million for 2025, a decrease of 1.7% compared to $428.8 million for 2024; excluding the support services for Oracle’s PeopleSoft software products, revenue increased by 1.0%.
• Calculated Billings was $427.9 million for 2025, an increase of 1.2% compared to $423.0 million for the same period last year.
• Adjusted Calculated Billings, which excludes Calculated Billings related to the support services for Oracle’s PeopleSoft software products, was $414.2 million for 2025, an increase of 4.2% compared to $397.4 million for the same period last year.
• Gross margin was 60.4% for 2025 compared to 60.9% for 2024.
• Operating income was $59.9 million for 2025 compared to an operating loss of $32.1 million for 2024.
• Non-GAAP Operating Income was $44.1 million for 2025 compared to $47.7 million for 2024.
• Net income was $37.1 million for 2025 compared to a net loss of $36.3 million for 2024.
• Non-GAAP Net Income was $21.3 million for 2025 compared to $43.6 million for 2024.
• Adjusted EBITDA was $49.8 million for 2025 compared to $53.1 million for 2024.
• Basic and diluted net earnings per share attributable to common stockholders were $0.40 and $0.39, respectively, for 2025, compared to a basic and diluted net loss per share of $(0.40) and $(0.40), respectively, for 2024.
• Repurchased approximately 1.9 million shares of Common Stock for approximately $7.6 million at an average price of $4.07 per share during 2025.

 

 

Select Fourth Quarter 2025 Operating Results

 

• Announced new and existing clients that expanded their agreements with Rimini Street, including the following:
  • Ypê, a leading Brazilian consumer goods company and a Rimini Street SAP S/4HANA support client, is accelerating its Agentic AI initiatives through the adoption of Rimini Street’s Agentic UX platform.
  • Tidewater, the world’s largest offshore service vessel operator, expanded its partnership with Rimini Street by adding Rimini Connect™ and Rimini Consult™ to address critical interoperability challenges.
  • Silicon Labs, a leading U.S.-based provider of semiconductor solutions, software, and IoT technologies, expanded its partnership with Rimini Street through a new five‑year agreement. The engagement includes support for its SAP ECC 6.0 environment and leverages Rimini Consult™ services to advance modernization initiatives including Agentic AI–driven ERP innovation solutions.
  • SP Electricity North West eliminated recurring SAP issues, cut maintenance costs by 50% and boosted service‑desk efficiency by 10% after implementing Rimini Street’s ERP support and single sign‑on optimization solution.
• Unveiled groundbreaking “Agentic AI ERP” vision in a new white paper, declaring traditional ERP software obsolete and introducing a next‑generation, AI‑driven architecture that delivers faster, more agile, lower‑cost innovation—deployed over existing ERP systems with no required upgrades.
• Launched 20 new Rimini Agentic UX™ Solutions, Powered by ServiceNow®, delivering rapid, AI‑driven ERP process automation that improves productivity, reduces costs and deploys in days or weeks—without requiring ERP upgrades, migrations or replatforming.
• Announced that thousands of organizations now rely on the Rimini Smart Path™—a three‑step Support, Optimize, and Innovate methodology—to free budget, reduce operational burden, and accelerate AI‑driven innovation without costly ERP upgrades or migrations.
• Received multiple industry honors recognizing its AI innovation, technical excellence and client‑first culture, including the Tech Ascension Award for AI‑Powered Enterprise (Agent) Solution of the Year, the Top Tech of the Year Award in Las Vegas honoring CEO Seth Ravin, the Silver Globee Award for Customer Service Team of the Year, and recognition for client Hitachi Vantara’s Gauri Kapur, winner of the 2025 Women Leading IT Award.
• Announced a new global survey of nearly 4,300 C‑suite leaders, which revealed intensifying pressure to deliver AI‑driven innovation, stronger ROI and greater business resilience as executives navigate rising costs, increasing risk, persistent IT talent shortages, and frustration with vendor‑driven ERP roadmaps.
• Announced a new global survey that finds Oracle Database customers are shifting strategies due to high costs, support challenges and growing demand for advanced AI/ML capabilities, with many turning to third‑party support to reduce fees, improve responsiveness, and unlock resources for innovation.
• Announced global study of 455 SAP customers that finds strong shift toward multi‑vendor composable ERP, with organizations using third‑party support achieving above‑average performance 83% of the time versus 27% with traditional SAP‑led approaches.
• Hosted an Investor Day on December 3, 2025 with videos and presentations posted and available for viewing on the Rimini Street Investor Relations website for one year.
• Resolved more than 7,100 support cases and delivered over 10,800 tax, legal, and regulatory updates across 32 countries, achieving an average client satisfaction score above 4.9 out of 5.0 (where 5.0 is rated excellent).

 

 

Business Outlook

 

The Company is providing first quarter 2026 revenue guidance to be in the range of $101.5 million to $103.5 million and reiterating full year 2026 guidance as communicated at the Company’s Investor Day for revenue growth in the 4% to 6% range with Adjusted EBITDA margins in the 12.5% to 15.5% range.

 

 

Webcast and Conference Call Information

 

 

Rimini Street will host a conference call and webcast to discuss the fourth quarter and full year 2025 results and offer commentary on 2026 at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time on February 19, 2026. A live webcast of the event will be available on Rimini Street’s Investor Relations site at Rimini Street IR events link and directly via the webcast link. Dial-in participants can access the conference call by dialing 1-800-836-8184. A replay of the webcast will be available for one year following the event.

 

 

Company’s Use of Non-GAAP Financial Measures

 

 

This press release contains certain “non-GAAP financial measures.” Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements and is not intended to represent a measure of performance in accordance with disclosures required by U.S. generally accepted accounting principles, or GAAP. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP.

 

 

Reconciliations of the non-GAAP financial measures included in this press release and described below to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures, why we believe they are meaningful and how they are calculated is also included under the heading “About Non-GAAP Financial Measures and Certain Key Metrics.”

 

 

About Rimini Street, Inc.

 

 

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a proven, trusted global provider of end-to-end, mission-critical enterprise software support, managed services and innovative Agentic AI ERP solutions, and is the leading third-party support provider for Oracle, SAP and VMware software. The Company has signed thousands of IT service contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who have leveraged the Rimini Smart Path™ methodology to achieve better operational outcomes, billions of US dollars in savings and fund AI and other innovation.

 

 

To learn more, please visit www.riministreet.com, and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn.

 

 

Forward-Looking Statements

 

 

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “currently,” “estimate,” “expect,” “forecast,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “goal,” “potential,” “predict,” “project,” “reflect,” “results,” “seem,” “seek,” “should,” “will,” “would” and other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to our ability to attract new clients or retain and/or sell additional products or services to existing clients; our ability to achieve and maintain an adequate rate of revenue growth; cost of revenue, including changes in costs associated with our efforts to grow and the results of any efforts to manage costs to align with current revenue expectations and the expansion of our offerings; the effects of increased intense competition in our industry and our ability to compete effectively; our ability to successfully educate the market regarding the advantages of our support and managed services for enterprise resource planning (ERP) software and to sell the products and services comprising our “Rimini Smart Path™” solutions portfolio, including but not limited to our Agentic AI ERP solutions; our intentions with respect to our pricing model and expectations of client savings relative to use of other providers; the evolution of the ERP software management and support landscape facing our clients and prospects; estimates of our total addressable market; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor-supplied software support and managed services; the effects of the efforts of enterprise software vendors to sell upgrades or migrations to cloud-based versions of their enterprise software on our results of operations; our ability to scale our operations quickly enough to meet our clients’ changing needs or decrease our costs adequately in response to changing client demand; risks arising from incorporating artificial intelligence (“AI”) technologies into our products or services or any deficiencies associated with AI technologies used by us or by our third-party vendors and service providers; our ability to maintain, protect, and enhance our brand; the continuing impact of and our ability to comply with the terms of our July 2025 settlement agreement with Oracle; our wind down of support services for Oracle PeopleSoft software products and the impact on future period revenue and costs incurred related to these efforts; the loss of one or more members of our management team and our ability to attract and retain additional qualified technical, sales and marketing personnel; our ability to expand our marketing and sales capabilities; our ability to avoid interruptions to, or degraded performance of, our services and the impact of any such interruptions or performance problems on our operations; our ability to defend against cybersecurity threats and to comply with data protection and privacy regulations; our expectations regarding new product offerings, innovation solutions, partnerships and alliance programs and our ability to develop and maintain strategic partnerships; our ability to expand internationally and the risks associated with global operations; the impact of macro-economic trends, including inflation and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; our ability to generate significant capital through our operations or to raise additional capital necessary to fund and expand our operations and invest in new services and products; our business plan and our ability to effectively secure and manage our growth and associated investments; risks relating to retention rates, including our ability to accurately predict retention rates; our ability to protect our intellectual property; our ability to maintain an effective system of internal control over financial reporting; changes in laws or regulations, including tax laws or unfavorable outcomes of tax positions we take; tariff costs, including those imposed by the United States government and the potential for retaliatory trade measures by affected countries; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance (“ESG”) matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the volatility of our stock price; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities/agencies; the occurrence of catastrophic events that may disrupt our business or that of our current and prospective clients; future acquisitions of, or investments in, complementary companies, products, subscriptions or technologies; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on February 19, 2026, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the U.S. Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

 

 

© 2026 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

 

 

RIMINI STREET, INC.   Unaudited Condensed Consolidated Balance Sheets   (In thousands, except per share amounts)
ASSETS	December 31, 2025				December 31, 2024
Current assets:
Cash and cash equivalents	$	119,974			$	88,792
Restricted cash, current		341				430
Accounts receivable, net of allowance of $1,443 and $653, respectively		136,866				130,784
Deferred contract costs, current		17,734				17,076
Prepaid expenses and other		25,447				19,194
Total current assets		300,362				256,276
Long-term assets:
Restricted cash, noncurrent		785				—
Property and equipment, net of accumulated depreciation and amortization of $23,822 and $21,305, respectively		10,239				9,891
Operating lease right-of-use assets		21,371				7,161
Deferred contract costs, noncurrent		24,436				22,084
Deposits and other		8,379				5,068
Deferred income taxes, net		57,540				68,583
Total assets	$	423,112			$	369,063
LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Current maturities of long-term debt	$	4,031			$	3,093
Accounts payable		5,752				5,275
Accrued compensation, benefits and commissions		39,609				33,586
Other accrued liabilities		24,307				20,688
Operating lease liabilities, current		4,984				3,967
Deferred revenue, current		268,717				257,983
Total current liabilities		347,400				324,592
Long-term liabilities:
Long-term debt, net of current maturities		63,156				82,187
Deferred revenue, noncurrent		18,824				23,214
Operating lease liabilities, noncurrent		18,843				7,064
Other long-term liabilities		1,918				1,451
Total liabilities		450,141				438,508
Stockholders’ deficit:
Preferred Stock, $0.0001 par value per share. Authorized 99,820 shares (excluding   180 shares of Series A Preferred Stock); no other series has been designated		—				—
Common Stock, $0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 91,603 and 91,120 shares, respectively		9				9
Additional paid-in capital		181,075				177,533
Accumulated other comprehensive loss		(5,613	)			(7,389	)
Accumulated deficit		(201,384	)			(238,482	)
Treasury stock,, at cost, 137 and 137 shares, respectively		(1,116	)			(1,116	)
Total stockholders’ deficit		(27,029	)			(69,445	)
Total liabilities and stockholders’ deficit	$	423,112			$	369,063

 

RIMINI STREET, INC.   Unaudited Condensed Consolidated Statements of Operations   (In thousands, except per share amounts)
	Three Months Ended								Year Ended
	December 31,								December 31,
		2025				2024				2025				2024
Revenue	$	109,790			$	114,213			$	421,536			$	428,753
Cost of revenue		43,514				41,501				166,935				167,731
Gross profit		66,276				72,712				254,601				261,022
Operating expenses:
Sales and marketing		41,355				37,437				151,569				149,736
General and administrative		17,380				18,624				69,997				73,084
Reorganization costs		2,555				1,098				4,491				5,737
Litigation costs and related recoveries:
Litigation settlement		—				—				(36,196	)			58,512
Professional fees and other costs of litigation		21				675				4,831				6,081
Litigation costs and related recoveries, net		21				675				(31,365	)			64,593
Total operating expenses		61,311				57,834				194,692				293,150
Operating income (loss)		4,965				14,878				59,909				(32,128	)
Non-operating income and (expenses):
Interest expense		(1,401	)			(1,904	)			(6,151	)			(6,305	)
Other income (expenses), net		187				(24	)			1,873				1,790
Income (loss) before income taxes		3,751				12,950				55,631				(36,643	)
Income tax benefit (expense)		(3,027	)			(6,291	)			(18,533	)			371
Net income (loss)	$	724			$	6,659			$	37,098			$	(36,272	)
Net income (loss) per share attributable to common stockholders:
Basic	$	0.01			$	0.07			$	0.40			$	(0.40	)
Diluted	$	0.01			$	0.07			$	0.39			$	(0.40	)
Weighted average number of shares of Common Stock outstanding:
Basic		91,395				90,979				91,736				90,503
Diluted		94,641				91,493				94,490				90,503

RIMINI STREET, INC.   GAAP to Non-GAAP Reconciliations   (In thousands)
	Three Months Ended								Year Ended
	December 31,								December 31,
		2025				2024				2025				2024
Non-GAAP operating income reconciliation:
Operating income (loss)	$	4,965			$	14,878			$	59,909			$	(32,128	)
Non-GAAP adjustments:
Litigation costs and related recoveries, net		21				675				(31,365	)			64,593
Stock-based compensation expense		2,711				2,408				11,071				9,545
Reorganization costs		2,555				1,098				4,491				5,737
Non-GAAP operating income	$	10,252			$	19,059			$	44,106			$	47,747
Non-GAAP net income reconciliation:
Net income (loss)	$	724			$	6,659			$	37,098			$	(36,272	)
Non-GAAP adjustments:
Litigation costs and related recoveries, net		21				675				(31,365	)			64,593
Stock-based compensation expense		2,711				2,408				11,071				9,545
Reorganization costs		2,555				1,098				4,491				5,737
Non-GAAP net income	$	6,011			$	10,840			$	21,295			$	43,603
Non-GAAP Adjusted EBITDA reconciliation:
Net income (loss)	$	724			$	6,659			$	37,098			$	(36,272	)
Non-GAAP adjustments:
Interest expense		1,401				1,904				6,151				6,305
Income taxes		3,027				6,291				18,533				(371	)
Depreciation and amortization expense		1,022				947				3,861				3,596
EBITDA		6,174				15,801				65,643				(26,742	)
Non-GAAP adjustments:
Litigation costs and related recoveries, net		21				675				(31,365	)			64,593
Stock-based compensation expense		2,711				2,408				11,071				9,545
Reorganization costs		2,555				1,098				4,491				5,737
Adjusted EBITDA	$	11,461			$	19,982			$	49,840			$	53,133
Calculated Billings:
Revenue	$	109,790			$	114,213			$	421,536			$	428,753
Deferred revenue, current and noncurrent, end of the period		287,541				281,197				287,541				281,197
Deferred revenue, current and noncurrent, beginning of the period		225,999				223,314				281,197				286,974
Change in deferred revenue		61,542				57,883				6,344				(5,777	)
Calculated billings		171,332				172,096				427,880				422,976
Less PeopleSoft calculated billings		(4,039	)			(5,918	)			(13,728	)			(25,619	)
Adjusted calculated billings	$	167,293			$	166,178			$	414,152			$	397,357

RIMINI STREET, INC.   GAAP to Non-GAAP Reconciliations   (In thousands)
		Three Months Ended
		December 31,
		2025			2024
Annualized recurring revenue		$	411,435		$	414,764
Less annualized PeopleSoft recurring revenue			15,630			30,720
Adjusted annualized recurring revenue		$	395,805		$	384,044
		December 31, 2025			December 31, 2024
Remaining performance obligations		$	652,947		$	587,941
Less PeopleSoft remaining performance obligations			20,700			22,089
Adjusted remaining performance obligations		$	632,247		$	565,852

 

About Non-GAAP Financial Measures and Certain Key Metrics

 

To provide investors and others with additional information regarding Rimini Street’s results, we have disclosed the following non-GAAP financial measures and certain key metrics. We have described below Active Clients, Annualized Recurring Revenue, Adjusted Annualized Recurring Revenue and Revenue Retention Rate, each of which is a key operational metric for our business. In addition, we have disclosed the following non-GAAP financial measures: non-GAAP operating income, non-GAAP net income, EBITDA, Adjusted EBITDA, Calculated Billings, Adjusted Calculated Billings, Remaining Performance Obligations and Adjusted Remaining Performance Obligations. Rimini Street has provided in the tables above a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. There were no tax effects associated with any of our non-GAAP adjustments. These non-GAAP financial measures are also described below.

 

 

The primary purpose of using non-GAAP measures is to provide supplemental information that management believes may prove useful to investors and to enable investors to evaluate our results in the same way management does. We also present the non-GAAP financial measures because we believe they assist investors in comparing our performance across reporting periods on a consistent basis, as well as comparing our results against the results of other companies, by excluding items that we do not believe are indicative of our core operating performance. Specifically, management uses these non-GAAP measures as measures of operating performance; to prepare our annual operating budget; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of our results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communications with our board of directors concerning our financial performance. Investors should be aware however, that not all companies define these non-GAAP measures consistently.

 

 

Active Client is a distinct entity that purchases our services to support a specific product, including a company, an educational or government institution, or a business unit of a company. For example, we count as two separate active clients when support for two different products is being provided to the same entity. We believe that our ability to expand our active clients is an indicator of the growth of our business, the success of our sales and marketing activities, and the value that our services bring to our clients.

 

 

Annualized Recurring Revenue is the amount of subscription revenue recognized during a fiscal quarter and multiplied by four. This gives us an indication of the revenue that can be earned in the following 12-month period from our existing client base, assuming no cancellations or price changes occur during that period. Subscription revenue excludes any non-recurring revenue, which has been insignificant to date.

 

 

Adjusted Annualized Recurring Revenue is annualized recurring revenue adjusted to exclude PeopleSoft subscription revenue recognized during a fiscal quarter and multiplied by four.

 

 

Revenue Retention Rate is the actual subscription revenue (dollar-based) recognized over a 12-month period from customers that were clients on the day prior to the start of such 12-month period, divided by our Annualized Recurring Revenue as of the day prior to the start of the 12-month period.

 

 

Non-GAAP Operating Income is operating income (loss) adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs. The exclusions are discussed in further detail below.

 

 

Non-GAAP Net Income is net income (loss) adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs. These exclusions are discussed in further detail below.

 

 

Specifically, management excludes the following items from its non-GAAP financial measures, as applicable, for the periods presented:

 

 

Litigation Costs and Related Recoveries, Net: Litigation costs and the associated litigation settlement, insurance and appeal recoveries relate to outside costs of litigation activities. These costs and recoveries reflect the litigation we are involved with, and do not relate to the day-to-day operations or our core business of serving our clients.

 

 

Stock-Based Compensation Expense: Our compensation strategy includes the use of stock-based compensation to attract and retain employees. This strategy is principally aimed at aligning employee interests with those of our stockholders and to achieve long-term employee retention. As a result, stock-based compensation expense varies for reasons that are generally unrelated to operational decisions in any particular period.

 

 

Reorganization Costs: The costs consist primarily of severance costs associated with the Company’s reorganization plan.

 

 

EBITDA is net income (loss) adjusted to exclude: interest expense, income taxes, and depreciation and amortization expense.

 

 

Adjusted EBITDA is EBITDA adjusted to exclude: litigation costs and related recoveries, net, stock-based compensation expense and reorganization costs, as discussed above.

 

 

Calculated Billings represents the change in deferred revenue for the current period plus revenue for the current period.

 

 

Adjusted Calculated Billings is calculated billings adjusted to exclude the calculated billings associated with PeopleSoft services.

 

 

Remaining Performance Obligations represent all future non-cancellable revenue under contract that has not yet been recognized as revenue, and includes deferred revenue and unbilled amounts.

 

 

Adjusted Remaining Performance Obligations is the Company’s remaining performance obligations adjusted to exclude the remaining performance obligations for PeopleSoft.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219293814/en/

 

Business Wire India

• Expands NIIT’s visibility among India’s large and engaged football audience
• Reinforces its relevance to young learners seeking skills for the digital economy

 

NIIT Limited, a leading Skills & Talent development corporation, today announced its partnership with Sporting Club Delhi as the Associate Sponsor and Official Skilling Partner for Season 12 of the Indian Super League (ISL).

 

Through this association, NIIT will feature on the match jerseys of Sporting Club Delhi and engage with fans across on-ground, broadcast, and digital platforms throughout the ISL Season 12 campaign. As part of the partnership, NIIT will leverage multiple engagement touchpoints, including jersey branding and stadium presence, digital activation(s), fan-engagement initiatives, and co-branded campaigns. The collaboration will also explore content-led integrations around performance, data, and skill-building, reinforcing the parallels between excellence in sport and excellence in careers.

 

Anshumaan Prasad, Business Head, NIIT Digital and Head of Marketing, NIIT Limited, said, “At NIIT, we believe that performance, whether on the field or in the workplace, is driven by continuous learning and the relevant skills. Our association with Sporting Club Delhi and the Indian Super League provides us with a powerful platform to connect with India’s young, ambitious audience who are going to shape the country’s growth. This partnership reflects our commitment to enabling future-ready skills and deepening engagement with the country’s digital-first generation.”

 

Dhruv Sood, CEO, Sporting Club Delhi, said, “We are delighted to welcome NIIT as an Associate Sponsor and Official Skilling Partner of Sporting Club Delhi for ISL Season 12. Sporting Club Delhi was established to build a strong football culture in the capital and create meaningful engagement with young fans. Through our grassroots initiatives and community programs, we aim to inspire ambition and create pathways for young talent both on and beyond the pitch. NIIT’s focus on skills and youth empowerment aligns naturally with our vision. We firmly believe in NIIT’s legacy in skilling India’s youth for decades which also mirrors our ambitions.”

 

For NIIT, the partnership underscores its broader strategy of engaging with high-impact, youth-centric platforms to drive awareness, inspiration, and access to skill development opportunities. Through this collaboration, NIIT aims to further strengthen its positioning as a leading skills and talent development partner for individuals and enterprises in a rapidly evolving digital economy.

 

Season 12 of the ISL commenced on 14^th February and will conclude on 17^th May, bringing together 14 teams from across the country and reaching millions of viewers across television and OTT platforms. The league continues to attract a predominantly young and digitally native audience, aligning strongly with NIIT’s focus on empowering the next generation of learners and professionals

Business Wire India

Seeking a larger share of India’s fast-growing outbound travel market, Taiwan Tourism Administration (TTA) under the Ministry of Transportation and Communications led a high-level and largest-ever tourism delegation to India in February 2026, positioning the island as a premium destination for leisure, business and incentive travel. Building on sustained 20%+ growth and outbound travel momentum that has outpaced India’s average by twofold in recent years, Taiwan is strategically strengthening Indo-Taiwanese cultural engagement and people-to-people connections through expanded tourism exchange.

 

The delegation, comprising two Taiwanese airlines, seven travel agencies and cultural performance groups, began its India outreach with a Taiwan Tourism Workshop in New Delhi. The event drew over 100 travel trade professionals and media representatives, offering a comprehensive showcase of Taiwan’s high-end leisure experiences, MICE (Meetings, Incentives, Conferences and Exhibitions) capabilities and customized travel solutions tailored for Indian travellers.

 

The delegation then participated in the three-day Outbound Travel Mart (OTM), one of South Asia’s largest travel trade exhibitions, which concluded in Mumbai recently. Through business-to-business meetings, interactive displays and cultural performances, Taiwan reinforced its positioning as a competitive Asian destination for India’s growing segment of premium and corporate travellers.

 

While warmly inviting the Indian travellers to explore Taiwan and experience its distinctive charm firsthand at the New Delhi workshop, Dr. Mumin Chen, Representative of the Taipei Economic and Cultural Center (TECC) in India, also highlighted Taiwan’s diverse tourism strengths. Globally recognised for its advanced technology and semiconductor industries, Taiwan offers dramatic mountain landscapes, scenic coastlines, lush forests and unique biodiversity within a compact and easily accessible geography. With a population comparable to Delhi, the island combines natural beauty with modern infrastructure, making it both convenient and immersive for international visitors.

 

India, now the world’s most populous country, continues to record strong outbound travel growth. Nearly 47,000 Indian travellers visited Taiwan in 2025, a more than 20 per cent increase over 2024 and surpassing pre-pandemic levels. Meanwhile, India’s outbound travel crossed 30 million in 2024, with sustained double-digit growth in the first half of 2025, underlining the long-term potential of the market.

 

At OTM Mumbai, Taiwan presented its global tourism brand, “TAIWAN – Waves of Wonder,” with a pavilion designed around the theme “Taiwan Non-Stop.” The concept highlighted the island’s seamless transition from tranquil daytime landscapes to vibrant nightlife and urban energy. From sunrise mountain vistas to bustling night markets, Taiwan promoted itself as a 24-hour destination offering safety, convenience and diverse experiences.

 

Cultural diplomacy formed a core part of the outreach. The Lei Sheng Traditional Arts Troupe performed depictions of Guan-Jiang-Shou, a powerful symbol in Taiwanese folk culture representing protection and positive energy. In addition, artisans from Lukang in Changhua conducted hands-on workshops where Indian travel professionals painted traditional “Sword Lions,” offering an interactive introduction to Taiwan’s heritage.

 

Recognising the importance of culinary preferences in outbound travel decisions, the delegation also highlighted Taiwan’s ability to cater to diverse dietary requirements, including vegetarian and special meal needs valued by Indian travellers. Taiwan’s vibrant street food culture and fine-dining scene were positioned as complementary attractions.

 

The Tourism Administration described the February mission as its largest-ever tourism delegation to India, reflecting the strategic importance of the market. Mumbai, which accounts for nearly 63 per cent of India’s corporate and incentive travel movement, has emerged as a key focus city. The establishment of the Taiwan Tourism Information Office in Mumbai in 2024 has further strengthened on-ground engagement and trade partnerships.

 

Going forward, Taiwan aims to consolidate its presence in India’s business and incentive travel segment while expanding into the broader leisure market. With sustained promotional efforts and localized support, Taiwan is positioning itself as a safe, sophisticated and culturally rich Asian destination for India’s new generation of global travellers.