News & Events zu Rimini Street Inc (RMNI)RMNIRimini Street Inc

Rimini Street Reduces Debt by $25.9M and Repurchases 970,566 Shares

Rimini Street announced additional, recent capital return and balance sheet optimization actions during the fiscal third quarter through August 28: The Company prepaid $5M of its term loan and has reduced term loan debt by a total of $25.9M fiscal year-to-date, reducing the outstanding balance to $43.4M. The Company repurchased 970,566 shares of its common stock at an average price of $5.16 per share for an aggregate cost of approximately $5M.

Rimini Street Appoints New COO and CDO

Rimini Street (RMNI) announced the appointment of Keith Costello as chief operating officer, COO, and Alexander Guasch as chief delivery officer, CDO. Costello previously served as president, enterprise applications, technology, consulting and engineering services at DXC Technology (DXC). Guasch formerly served in senior executive roles at HPE (HPE) and has held leadership positions at Effectual and Optiv.

Company Expects Q3 2026 Revenue of $110M to $112M

The Company expects third quarter 2026 revenue to be in the range of $110 million to $112 million. The Company is also reiterating its full year 2026 outlook, which calls for revenue growth of 4% to 6% and Adjusted EBITDA margins of 12.5% to 15.5% and is consistent with the goal of achieving the "Rule of 20" for fiscal year 2026.