RMNI
Rimini Street, Inc.

Rimini Street, Inc.RMNI

Technology · Software - Application
4.38USD
+0.92%
Sep 23, 2026
RMNI overview ready
Vendor-Independent Support and AI-Enabled Services for Oracle and SAP ERP
Specialist independent support and managed-services provider for installed enterprise software, with an AI workflow layer intended to improve ERP processes without forcing an underlying ERP upgrade.
Narrative is still early
Exposed to the Enterprise Application Cost Optimization and Modernization narrative through ERP Support Alternatives and Upgrade Deferral — pure play.
No clear price read
Longer-term context reads early trend, with a near-term setup of constructive pullback.
Attractive valuation
Current market expectations look undemanding relative to the cash the business actually produces.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on legacy Oracle and SAP software ecosystems.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 7

Conviction Level

NarrativeHeat6.4ThemeHeat5.1PriceAction1.4Valuation7.5CompanyPosition7.3
Price
Loading price history…

Price Action

No clear price read
Longer-term context reads early trend, with a near-term setup of constructive pullback.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$408.9M
Avg Volume (60D)
449.8K
60 sessions
Revenue Growth YoY
-1.7%
FY2025 vs FY2024
Gross Margin
+60.1%
Trailing twelve months
Operating Margin
+4.8%
Trailing twelve months
Free Cash Flow Yield
+15.6%
Distance from 200DMA
+9.1%
Next Earnings
2026-10-29
P/E
56.4x
EV / EBITDA
13.5x
EV / Sales
0.8x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; own history is the dissenting view.
Rimini Street, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to the cash the business actually produces.

Company Research

Thesis
Specialist independent support and managed-services provider for installed enterprise software, with an AI workflow layer intended to improve ERP processes without forcing an underlying ERP upgrade.
Opportunity
Moderate opportunity
Enterprises preserve and optimize installed ERP and other mission-critical application estates through independent support, application management, selective modernization and overlay automation rather than vendor-mandated upgrades or wholesale migrations.
Key risk
Dependence on legacy Oracle and SAP software ecosystems.

Narrative & Theme

Enterprise Application Cost Optimization and Modernization
Part of ERP Support Alternatives and Upgrade Deferral, with strong fit.
RMNI has a direct, specialized revenue exposure to enterprises seeking to reduce the cost and disruption of maintaining Oracle, SAP, VMware and other installed software while reallocating budgets toward modernization and AI.
Narrative HeatNeutral6.4 / 10
Theme HeatNeutral5.1 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Software - Application
What they do

Rimini Street provides enterprise software support, managed services, and AI-driven ERP solutions primarily for Oracle and SAP software products, operating through a service-based model focused on extending the lifecycle of existing enterprise software.

How it earns

The company generates revenue mainly through subscription-based support and managed services contracts.

Products & services
Rimini Support
Rimini Agentic UX
Rimini Manage
Customers & end markets
Enterprise customers using Oracle software
Enterprise customers using SAP software
Market position

Niche player specializing in third-party support for Oracle, SAP, and related enterprise software.

Demand drivers
Medium cyclicality

Enterprise IT spending can fluctuate with broader economic cycles but support services tend to have recurring demand.