Rimini Street reports Q1 EPS 6c, consensus 8c

Reports Q1 revenue $105.5M, consensus $102.34M. "For the first quarter of 2023, we were pleased to both complete the launch of our expanded solutions portfolio and sell the full portfolio to name-brand organizations globally. This expanded portfolio will allow us to meet the needs of a significantly larger market of organizations with $200 million or more in annual revenue or budget," stated Seth A. Ravin, Rimini Street co-founder, president, CEO and chairman of the board. "One of the new premier solutions launched in the first quarter was our end-to-end, ‘turnkey’ outsourcing offering – Rimini ONE – which provides organizations a one-vendor solution for their current and evolving enterprise software needs and leverages Rimini Street’s unique, industry-leading value, reliability, responsiveness and engineering capability. We have already signed more than 100 Rimini ONE clients and believe our significantly expanded solutions portfolio will increase sales to new and existing clients, improve subscription renewals and extensions and expand client lifetime value."