Rimini Street reports Q2 EPS 5c, consensus 11c

Reports Q2 revenue $106.42M, consensus $105.41M. “For the second quarter of 2023, we were pleased to achieve the largest second quarter total sales invoicing in North American history, which we believe is one of several data points that indicate our updated sales and marketing go-to-market plan is continuing to gain traction. New client invoicing and pipeline improved sequentially and year over year, and we are seeing continued sales growth across our new, full product portfolio,” stated Seth A. Ravin, Rimini Street’s co-founder, president, CEO and chairman of the board. “As a global leader in production support for mission-critical systems, we continue to grow our workforce and capabilities to deliver our full solutions portfolio globally, backed by innovation and technology that provides additional leverage for increased profitability with growth. We believe our significantly expanded solutions portfolio will increase sales to new and existing clients, improve subscription renewals and extensions and expand lifetime contract value.”