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Business Wire India

India’s digital payments landscape has expanded rapidly over the last few years, and credit cards have moved from being occasional-use instruments to becoming part of everyday financial behaviour. Consumers now rely on them not just for high-value purchases but for groceries, fuel, online shopping, entertainment, and recurring monthly payments. This shift has been supported by AU Small Finance Bank, which is making credit cards simpler, more accessible, and more rewarding for day-to-day use. AU Small Finance Bank (AU SFB) is the India’s largest Small Finance Bank and the first in over a decade to receive in principle approval to transition into a Universal Bank.

A major factor behind this transformation is the rise of digital tools that give customers complete control over their card experience. The modern credit card app has become a central hub for viewing transactions, managing limits, redeeming rewards, and securing the card at any time. Customers also look for simple and intuitive digital interfaces, often searching for a credit card app, reflecting the growing expectation for user-friendly, mobile-first financial management. For business owners and professionals, tailored solutions like the commercial credit card help separate personal and business expenses, streamline accounting, and provide rewards suited to business needs.

 

What’s Driving This Change at AU

• Digital onboarding lets customers start using their credit cards almost immediately.
• Lifestyle-focused rewards in categories like fuel, dining, travel, lounge access, and e-commerce make it practical to use credit cards for everyday expenses.
• Greater security through biometric login, tokenisation, and instant lock/unlock options increases confidence across online and offline transactions.
• Convenient access to short-term liquidity through features like Xpress loan on credit card provides customers with quick funds during urgent situations, enhancing the utility of credit cards beyond payments.
• Tap-to-pay and wearable payment innovations make transactions faster and more seamless, creating a habit of using credit cards for routine purchases.

 

The growing acceptance of digital payments in Tier-2 and Tier-3 cities has further accelerated credit card adoption. With smartphone penetration increasing and digital literacy improving, more consumers across India are turning to credit cards for their flexibility and convenience. By offering simplified eligibility, transparent features, and mobile-first onboarding, AU Small Finance Bank is enabling this broader adoption by catering to users who are new to formal credit.

Credit cards are also playing a role in helping customers manage their finances more effectively. Spending insights and category tracking help users make informed decisions about their money. This evolution has positioned credit cards not only as payment tools but as instruments that support financial planning and discipline. At the same time, subscription-based payments, whether for OTT platforms, fitness memberships, or digital tools, are now commonly linked to credit cards, offering uninterrupted service and convenience.

A new generation of credit cards is redefining how Indians transact every day. With digital convenience, stronger security, smarter rewards, and flexible credit options, they have become indispensable tools for today’s digitally active consumers. AU Small Finance Bank’s new-age credit cards are set to play an even more prominent role in India’s journey toward a more confident, credit-enabled digital economy.

Business Wire India

Harpic, India’s No. 1 toilet and bathroom cleaner and a pioneer in home hygiene solutions trusted by over 100 million households^*, announced the launch of its most advanced bathroom cleaning innovation yet – New Harpic Bathroom Ultra Cleaner. Marking Harpic’s biggest innovation in the bathroom cleaning category in over a decade, the product is designed to remove the toughest and most prevalent bathroom stains to deliver an Ultra Clean bathroom. Bollywood Film-maker Rohit Shetty joins as brand ambassador, reinforcing the product’s promise of powerful and confident stain removal.

 

Indian households across urban regions struggle with persistent yellow stains, limescale buildup and tough stains like rust. Over time, consumers increasingly believe that these stains are impossible to remove, and with no trusted solution that can truly tackle them, many rely on generic solutions such as detergents, bleach and phenyl. These products, however, are often ineffective against hard water stains and can be abrasive on surfaces, leaving bathrooms looking dull.

 

Addressing this long-standing consumer need for a trusted, versatile and effective cleaning solution, New Harpic Bathroom Ultra Cleaner has been purpose-built for Indian bathrooms. As India’s toughest stain removal specialist^#, it removes everyday stains like yellow hard water marks and limescale, as well as tough stains such as rust, delivering a visibly Ultra Clean and shiny bathroom. Living up to its promise, “New Harpic Bathroom Ultra Cleaner – Kaisa bhi ho daag, poora bathroom ULTRA saaf,” the launch campaign reinforces Harpic’s leadership in the bathroom cleaner category by offering consumers a powerful solution.

 

Speaking about his association with the brand, Rohit Shetty said, “I know what’s it like when people associate you with a certain style, it means they trust you to deliver every single time. And that trust pushes you to do more, do better and to raise the bar. Whether it’s comedy, action or in the case of Harpic, solid safaai. Harpic has been a trusted name in hygiene for years, even being synonymous with bathroom hygiene. With New Harpic Bathroom Ultra Cleaner, the brand is taking bathroom cleaning to the next level. I am glad to be associated with a product that is tough, dependable and designed for real Indian homes.”

 

Commenting on the launch, Gautam Rishi, Marketing Director, Hygiene, Reckitt – South Asia, said, “Harpic Bathroom Ultra Cleaner is a strong new innovation engineered to tackle India’s toughest hard‑water stains, where most generic cleaners fall short. This launch strengthens Harpic’s stain‑removal leadership and raises the bar for bathroom hygiene. With Rohit Shetty onboard, we’re delivering a tougher, high‑performance solution designed for Indian homes.”

 

Anupama Ramaswamy, MD and Chief Creative Officer, Havas Creative India, said, “Harpic has a new hero in its universe – Harpic Bathroom Ultra Cleaner. It’s tough and effective. And that is why it needed a launch that is unmissable and larger-than-life, just like Rohit Shetty, who is the face of the brand. Team Havas Creative India has created yet another power-packed campaign that hits the screens very soon.”

 

With this launch, Harpic continues to lead the bathroom cleaner category by combining deep consumer insights, advanced innovation and powerful communication, helping Indian consumers move beyond ordinary cleaners to solutions that truly deliver superior bathroom cleanliness.

 

Link to TVC: https://youtu.be/O3vecQ8Er5U

 

Agency Credits:

 

Anupama Ramaswamy, Managing Director and Chief Creative Officer

Ajitesh Verma, Executive Creative Director

Aman Chaubey, Group Head – Copy

Binesh Sharma, Group Creative Director

Sandeep Bagga, Senior Creative Director – Art

Ravinder Kumar, Creative Director – Art

Krittika Chakraborty, EVP – Strategy & Planning (North & West)

Dhananjoy Ray, AVP- Strategy & Planning

Himanshi Bakshi, Planning Supervisor

Avinash Chandra, Senior Vice President

Annie Joshi, Account Director

Akshita Kakkar, Account Director

Dawa Lama, Head of Production

Business Wire India

Kinko Optical Co., LTD. (Kinko), a leading Asian original design manufacturer (ODM), has adopted Beneq’s C2R™ plasma-enhanced spatial ALD system. This move positions Kinko for high-volume production of high-index, low-loss gap-filling optical coatings on diffractive waveguides for its partners.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219074885/en/

 

 

 

The eXtended Reality (XR) sector is growing rapidly, fueled by demand for immersive AR experiences in consumer electronics such as XR glasses. In recent years, major investments and innovations have come from leading global technology companies and original equipment manufacturers (OEMs). At the core of XR glasses are AR waveguides, essential for seamlessly overlaying digital images onto the real world. For optimal performance, advanced surface relief gratings (SRG+) and nano-imprint lithography (NIL) are the leading platforms, meeting performance, production, and cost requirements for consumer applications.

 

However, the complex 3D nanostructures created by these technologies present significant challenges for traditional coating methods, which often fail to achieve the necessary performance. Advanced optical coatings are therefore critical to improving efficiency, brightness, and durability while enabling scalable, high-performance manufacturing. Beneq’s C2R™ meets these needs, delivering uncompromising performance and allowing manufacturers to meet the stringent standards of next-generation AR devices.

 

“With over 45 years in precision optics, Kinko has led the way in adopting advanced technologies to enable high-performance optical components for global tech partners,” said Angus Wu, CTO of Kinko Optical Co., Ltd. “We recognized early the potential of ALD for its coating quality, exceptional conformality, and ability to deliver high-index, low-loss materials essential for advanced optics. With Beneq’s C2R™, we now achieve performance without compromise, combining unmatched deposition speed with low-temperature processing for true high-volume production while maintaining precision on complex structures. This enables us to accelerate AR waveguide commercialization and power the next generation of XR glasses with immersive, seamless consumer experiences.”

 

“With Beneq’s C2R™, we now achieve performance without compromise. This enables us to accelerate AR waveguide commercialization and power the next generation of XR glasses.” – Dr. Angus Wu, CTO, Kinko Optical

 

C2R™ features an innovative rotary spatial ALD design that separates precursors in space, achieving up to 100 times faster deposition rates than conventional ALD – up to 2000 nm/h – while maintaining exceptional uniformity and precision. It supports a range of high-index materials, including Al₂O₃, TiO₂, Ta₂O₅, HfO₂, and multilayer stacks, with tunable refractive indices up to ~2.61 (at 448 nm for TiO₂) and low optical loss of ~3 dB/cm.

 

Other key benefits include low-temperature processing (as low as 100°C) for compatibility with polymer substrates, conformal gap filling on complex gratings, and zero-stress coatings with tunable stress control from 1000 MPa to –200 MPa. In-situ broadband monitoring ensures real-time optimization, enabling the fabrication of thicker multilayer structures without compromising quality. These capabilities align with industry trends toward energy-efficient, sustainable manufacturing and regulatory compliance in optical innovations.

 

The collaboration positions the AR ecosystem for broader applications beyond XR glasses, including heads-up displays in vehicles and enterprise training tools, accelerating both commercialization and market adoption.

 

About Kinko

 

Kinko was founded in June 1980 in Wuqi District, Taichung City. As a professional manufacturer of optical components and optical lens units, the company operates four production divisions: glass lens polishing, plastic lens injection, molded glass pressing, and precision mold processing. The wide range of optical lenses produced by Kinko has earned global brand recognition and is distributed worldwide. Its products are used in digital single-lens reflex (DSLR) cameras, mobile phones, IoT (Internet of Things) devices, automotive systems, gaming, surveillance, VR/AR/MR, and thermographic cameras. Kinko continues to focus on developing high-quality, value-added optical lenses.

 

About Beneq

 

Beneq pioneered industrial Atomic Layer Deposition (ALD) with the introduction of the first commercial ALD equipment in 1984. Today, Beneq advances ALD technology adoption and validation with a portfolio that includes Transform®, Transform® 300, and Prodigy™ for specialty semiconductor device fabrication; TFS 200 and TFS 500 for R&D; and innovative spatial ALD platforms such as the C2R™, and Genesis for roll-to-roll processing. Beneq’s systems support process innovation from lab to fab, enabling integration of ALD in advanced manufacturing. Headquartered in Espoo, Finland, Beneq operates globally to help customers scale ALD solutions for the future of semiconductors, optics, and functional coatings.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219074885/en/

 

Business Wire India

Eloelo group, India’s leading consumer internet group behind microdrama platform Story TV, micro learning-edutainment platform Master, and more, today announced the appointment of Mr. GSN Aditya as the Chief Operating Officer. In this role, Aditya will be responsible for overseeing Eloelo Group’s day-to-day operations, driving operational excellence and supporting the firm’s next phase of growth. Aditya will work closely with the leadership team to strengthen internal processes, enhance cross-functional collaboration, and scale the organisation in line with its strategic priorities.

GSN Aditya brings extensive experience across consumer internet, mobility, gaming and industrial sectors. Most recently, he served as Vice President for Revenue and Categories at Mobile Premier League (MPL), where he led monetisation and category growth initiatives. Prior to this, Aditya spent four years at Ola, holding multiple leadership roles, including Head of International Expansion and Revenue Management. Earlier in his career, he held roles at Myntra.com, including a stint at Tata Steel. With his deep experience in operations and scaling high-growth businesses, he will play a pivotal role in driving operational excellence, strengthening revenue streams, and steering Eloelo Group through its next phase of strategic expansion.

Speaking on the appointment, Saurabh Pandey, Founder & CEO, Eloelo Group, said, “Eloelo Group is at a defining moment in its journey as we double down on building a truly pioneering consumer internet platform from India. In a short span of time, we have scaled to market leadership across microdramas with Story TV, info-tainment with Master and Interactions with Eloelo, Connecto. Today, our trajectory and operating intensity puts us in the same league as some of the fastest growing global tech platforms.

With our platforms scaling so fast, our leadership team scales as well. To this effect, I am delighted to welcome Aditya, who brings deep operating experience and a sharp execution mindset shaped across multiple high-growth consumer tech companies in India. He understands what it takes to build at a massive scale, navigate complexity and drive disciplined growth. Having known him from before, what stands out is the clarity of thought combined with an execution-first mindset.

As we enter our next phase, the focus is simple: build the largest AI-powered entertainment ecosystem for the next billion users. With leaders who combine ambition with operational depth, we are confident about shaping one of the most significant consumer internet stories emerging from India.”

Talking about this new role, GSN Aditya said, “What Saurabh and the team have built at Eloelo Group is genuinely phenomenal. The business is at a rare inflection point, the kind that comes once in a lifetime if executed well. I’m deeply grateful for the opportunity and excited to partner closely with the team. With the foundation already in place, I’m confident the next phase will be our strongest yet.”

With the appointment of GSN Aditya and the recent leadership elevation of Nishant Kumar as the new CMO, Eloelo Group signals a strong blend of fresh energy and deeply embedded institutional DNA of redefining India’s consumer internet landscape with an AI-enabled approach across its suite of products.

Business Wire India

BEYOND Developments ने रास अल खैमाह में मरजान बीच पर अपने पहले पूर्णतः मास्टरप्लान किए गए डेस्टिनेशन EVERMORE का अनावरण किया, जो साल 2026 के लिए BEYOND की विकास रणनीति के शुरुआती अध्याय और दुबई के परे विस्तार के साहसिक कदम को दर्शाता है।

विन अल मरजान आईलैंड के ठीक सामने रणनीतिक रूप से स्थित EVERMORE, समुद्र और मरजान के भावी बॉटैनिकल गार्डन से घिरा हुआ एक स्थायी जीवनशैली वाला रिहायशी वॉटरफ़्रंट डिस्ट्रिक्ट है। यह मास्टरप्लान फ़्रांस की परंपरागत सुंदरता के आधुनिक डिज़ाइन, प्राकृतिक समावेश और लाइफ़स्टाइल को केंद्र में रखने वाली योजना का अद्भुत संगम है, जिससे एक खास तरह के परिवेश का जन्म होता है, जहाँ इमारतों, आतिथ्य सुविधाओं और सार्वजनिक जगहों, पानी तथा हरियाली के बीच सुंदर ताल–मेल नज़र आता है।

BEYOND Developments के संस्थापक और कार्यकारी अध्यक्ष, महदी अमजद ने कहा: “रास अल खैमाह में विकास का एक नया दौर शुरू हो रहा है, जिसकी नींव अनुशासित योजना, बढ़ती वैश्विक प्रासंगिकता और यहाँ की लीडरशिप (शासक) के दूरदर्शी विज़न पर टिकी हुई है, जिन्होंने अपनी बहुमूल्य सहायता के साथ अमीरात में हमें प्रवेश करने का मौका देने में अहम भूमिका निभाई है।“

“नया मास्टरप्लान, EVERMORE, का कुल फ़्लोर एरिया 7 मिलियन वर्ग फ़ुट में फैला हुआ है और इसके विकास की अनुमानित लागत AED 25 बिलियन से भी ज़्यादा है। यह एक असाधारण तटीय डेस्टिनेशन है, जिसकी बुनियाद विश्व–स्तरीय डिज़ाइन, आतिथ्य सुविधाओं और सामुदायिक नेतृत्व की भावना पर टिकी हुई है। यह हमारे सफ़र की एक निर्णायक उपलब्धि है, क्योंकि ऐसा पहली बार हो रहा है, जब हम किसी परियोजना की नींव दुबई के बाहर रखने जा रहे हैं और यह रास अल खैमाह में भी हमारा पहला डेस्टिनेशन है और इसी वजह से यह प्रोजेक्ट अमीरात के शहरी, पर्यटन और आर्थिक विकास में सार्थक योगदान करने की हमारी प्रतिबद्धता को दर्शाता है,” अमजद ने आगे कहा।

Marjan के ग्रुप CEO, अब्दुल्ला अल अब्दूली ने कहा: “EVERMORE मरजान बीच और रास अल खैमाह के लिए एक बड़ी उपलब्धि को दर्शाता है। हमारे पोर्टफ़ोलियो का दूसरा सबसे बड़ा मास्टरप्लान होने के नाते, यह मरजान बीच को एक ऐसे डेस्टिनेशन में बदलने में सशक्त भूमिका अदा करेगा, जहाँ लाइफ़स्टाइल, आतिथ्य सुविधाओं और कुदरत साथ मिलकर अमीरात के भविष्य को आकार देंगे।”

“इस रूपांतरकारी विकास परियोजना में BEYOND के साथ हाथ मिलाकर हमें गर्व महसूस हो रहा है, क्योंकि यह परियोजना न सिर्फ़ मरजान बीच के लिए एक अभूतपूर्व उपलब्धि होगी, बल्कि रास अल खैमाह में रीयल एस्टेट और पर्यटन की विकास गाथा का भी एक प्रमुख अध्याय साबित होगी। यह मास्टरप्लान बीच के विकास को सुंदरता और सार्थकता का एक नया तोहफ़ा देने के साथ–साथ, अंतरराष्ट्रीय लाइफ़स्टाइल और निवेश के डेस्टिनेशन के रूप में उसकी स्थिति को मज़बूत करता है,” अल अब्दूली ने आगे कहा।

2,50,000 वर्ग मीटर में फैले लैंडस्केप्ड ओपन स्पेसेज़ और एक केंद्रीय बॉटनिकल गार्डन के साथ, EVERMORE को पूर्णतः पेडेस्ट्रियन मास्टरप्लान के रूप में डिज़ाइन किया गया है। छायादार राहदारियाँ और हरे–भरे मार्ग बॉटनिकल गार्डन को 3.5 किलोमीटर के सुलभ बीचफ़्रंट से जोड़ते हैं, जिससे लोगों के मन में पैदल चलने, सेहत के प्रति सजग रहने और मानव–केंद्रित जीवनशैली अपनाने का उत्साह पैदा होगा। इस डेस्टिनेशन में रिहायशी, आतिथ्य सुविधाओं और रिटेल सेवाओं का समावेश है, जिसमें 1 मिलियन वर्ग फ़ुट में फैली हॉस्पिटैलिटी और ब्रैंडेड रिहायशी ऑफ़रिंग्स शामिल हैं, साथ ही फ़ेस्टिवल और इवेंट्स प्लाज़ा, बॉटनिकल सूक, एक F&B विलेज तथा बीच की पूरी लंबाई में बनी राहदारी मौजूद है। ये सभी साथ मिलकर इसे एक स्वतंत्र सांस्कृतिक आरामगाह बनाते हैं।

इसका डिज़ाइन फ़्रांस की परंपरागत वास्तुकला, अनुपात, समरूपता और स्थानिक क्रम से प्रेरित है, जिसे समकालीन रूप दिया गया है। कैस्केड शैली में बनाई गई इमारतों से समुद्र और लैंडस्केप का ज़्यादा–से–ज़्यादा नज़ारा देखा जा सकता है, जबकि यहाँ फैली हरियाली और छायादार राहदारियाँ तथा पैदल चलने वालों के लिए बनाए गए ब्रिज आराम, निजता और सहज कनेक्टिविटी देते हैं।

EVERMORE को पीढ़ियों तक टिके रहने के लिए डिज़ाइन किया गया है। यह रास अल खैमाह विज़न 2030 और अमीरात के विकसित होते शहरी व आर्थिक परिदृश्य में सार्थक योगदान करता है।

Source: AETOSWire

 

तस्वीरें/मल्टीमीडिया गैलरी उपलब्ध: https://www.businesswire.com/news/home/20260217969384/en

 

संपर्क विवरण:

वाएल सरीद्दीन

PR मैनेजर

टेलीफ़ोन + 971551077949

wael.sarieddine@beyondproperties.ae

Business Wire India

Axelspace Corporation (“Axelspace”), a leading developer and operator of microsatellites dedicated to realizing its vision of “Space within Your Reach,” announced that, for the purpose of carrying out the Ministry of Defense’s satellite constellation project, it has entered into a contract with Tri-Sat Constellation Co., Ltd. and Mitsui Bussan Aerospace Co., Ltd. for acquisition of optical imagery data. Tri-Sat Constellation Co., Ltd. is a special purpose company (SPC) established by Mitsubishi Electric Corporation, SKY Perfect JSAT Corporation, and Mitsui & Co., Ltd.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260220758297/en/

 

 

 

The Ministry of Defense’s satellite constellation project was awarded to a consortium comprising Mitsubishi Electric Corporation, SKY Perfect JSAT Corporation, Mitsui & Co., Ltd., Synspective Inc., Institute for Q-shu Pioneers of Space, Inc., Mitsui Bussan Aerospace Co., Ltd., and Axelspace. Tri-Sat Constellation Co., Ltd. signed the project with the Ministry of Defense for the project on February 19. Axelspace, as the sole provider of optical imagery among the partner companies, will contribute by satellite imagery acquisition to the project.

 

This project is a Private Finance Initiative (PFI) project aimed at building a satellite constellation operated by private-sector companies to ensure stable acquisition of imagery intelligence necessary for ensuring the effectiveness of stand-off defense capabilities*.

 

 

* Stand-off defense capabilities are the ability to effectively counter external attacks from a distant position outside the threat range.

 

 

“Under the recently concluded contract, Axelspace will participate as the sole optical imagery provider,” said Yuya Nakamura, President and CEO of Axelspace Corporation. “Based on the satellite development and operation technologies we have built to date, as well as our track record of stable image data provision, we aim to accurately address the needs of the national security field. At the same time, we will continue to actively expand the utilization of satellite data in the private sector and emerging markets, which are expected to see significant growth in the future.”

 

 

For the full press release, please visit: https://www.axelspace.com/news/satellite_constellation_project/

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260220758297/en/

 

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