Rimini Street, Inc. (RMNI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1700 S. PAVILION CENTER DR. LAS VEGAS, NV 89135 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7389 - Business Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 129,123 | 119,571 | 87,575 | 37,952 | 24,771 | 21,950 | |||
| Cash and cash equivalents | 109,008 | 119,571 | 87,575 | 37,952 | 24,771 | 21,950 | |||
| Short-term investments | 20,115 | ||||||||
| Restricted cash and investments | 426 | 419 | 334 | 436 | 435 | ||||
| Receivables | 116,093 | 135,447 | 117,937 | 111,574 | 80,599 | 63,525 | |||
| Prepaid expense | 18,846 | 16,340 | 13,456 | 15,205 | 7,099 | 8,560 | |||
| Capitalized contract cost | 17,218 | 14,985 | 13,918 | 11,754 | ✕ | ||||
| Other undisclosed current assets | 18,077 | ||||||||
| Total current assets: | 281,706 | 286,762 | 233,220 | 176,921 | 112,904 | 112,112 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 7,142 | 12,722 | 17,521 | ✕ | ✕ | ||||
| Property, plant and equipment | 4,820 | 3,667 | 3,634 | 4,255 | |||||
| Capitalized contract cost, net | 23,508 | 21,524 | 21,027 | 16,295 | ✕ | ||||
| Deposits noncurrent assets | 7,057 | 1,786 | 1,476 | 3,089 | 1,438 | 1,565 | |||
| Deferred income tax assets | 65,515 | 64,033 | 1,871 | ✕ | ✕ | ||||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 719 | |||
| Other undisclosed noncurrent assets | 6,113 | 4,435 | 1,248 | 909 | 3,520 | ||||
| Total noncurrent assets: | 109,335 | 104,500 | 46,715 | 24,299 | 5,981 | 10,059 | |||
| TOTAL ASSETS: | 391,041 | 391,262 | 279,935 | 201,220 | 118,885 | 122,171 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 78,175 | 68,390 | 66,221 | 53,568 | 59,278 | 51,211 | |||
| Interest and dividends payable | ✕ | ✕ | 3,800 | 3,500 | |||||
| Employee-related liabilities | ✕ | ✕ | 36,558 | 38,026 | 27,918 | 22,503 | 18,154 | ||
| Accounts payable | 8,040 | 5,708 | 3,241 | 2,303 | 12,851 | 10,137 | |||
| Accrued liabilities | 70,135 | 26,124 | 21,154 | 23,347 | 20,424 | 22,920 | |||
| Deferred revenue | 265,800 | 253,200 | 229,000 | ✕ | ✕ | ||||
| Debt | 4,789 | 3,664 | 2,372 | 16,033 | |||||
| Derivative instruments and hedges, liabilities | 1,600 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 152,390 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | 205,771 | ✕ | |||
| Other undisclosed current liabilities | 4,263 | 4,248 | 107 | 176,858 | 7,500 | ||||
| Total current liabilities: | 353,027 | 329,502 | 295,328 | 259,339 | 238,508 | 228,734 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 70,003 | 92,166 | 15,993 | 151 | 2,225 | 66,897 | |||
| Long-term debt, excluding current maturities | 70,003 | 79,655 | 2,011 | 66,613 | |||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | 151 | 214 | 284 | ||
| Liabilities, other than long-term debt | 45,181 | 49,980 | 30,505 | 32,002 | 29,182 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 29,182 | ||
| Deferred revenue | 34,081 | 47,047 | 27,966 | ✕ | ✕ | ||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | 29,727 | ✕ | |||
| Other liabilities | 2,006 | 2,933 | 2,539 | 2,275 | |||||
| Operating lease, liability | 9,094 | 12,511 | 15,993 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 1,193 | 1,005 | 29,740 | 7,659 | |||||
| Total noncurrent liabilities: | 115,184 | 142,146 | 47,691 | 33,158 | 31,965 | 103,738 | |||
| Total liabilities: | 468,211 | 471,648 | 343,019 | 292,497 | 270,473 | 332,472 | |||
| Temporary equity, carrying amount | 137,854 | 131,316 | 113,998 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | (77,170) | (80,386) | (200,938) | (222,593) | (265,586) | (210,301) | |||
| Common stock | 9 | 9 | 8 | 7 | 6 | 6 | |||
| Treasury stock, value | (1,116) | (1,116) | |||||||
| Additional paid in capital | 156,401 | 149,234 | 101,047 | 93,484 | 108,347 | 94,967 | |||
| Accumulated other comprehensive loss | (4,195) | (2,724) | (318) | (1,429) | (1,567) | (867) | |||
| Accumulated deficit | (228,269) | (225,789) | (301,675) | (314,655) | (372,372) | (304,407) | |||
| Total equity: | (77,170) | (80,386) | (200,938) | (222,593) | (265,586) | (210,301) | |||
| TOTAL LIABILITIES AND EQUITY: | 391,041 | 391,262 | 279,935 | 201,220 | 118,885 | 122,171 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 409,662 | 374,430 | 326,780 | 281,052 | 252,790 | 212,633 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 212,633 | |
| Cost of revenue (Cost of Goods and Services Sold) | (152,385) | (136,464) | (126,211) | (105,106) | (95,981) | (82,898) | ||
| Gross profit: | 257,277 | 237,966 | 200,569 | 175,946 | 156,809 | 129,735 | ||
| Operating expenses | (249,188) | (211,193) | (182,685) | (153,810) | (131,455) | (107,763) | ||
| Operating income: | 8,089 | 26,773 | 17,884 | 22,136 | 25,354 | 21,972 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (13) | (1,605) | (258) | (1,495) | (2,066) | 320 | ||
| Interest and debt expense | (4,271) | (1,550) | (77) | (398) | (90,861) | (61,718) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 1,600 | (12,552) | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 3,805 | 23,618 | 17,549 | 20,243 | (65,973) | (51,978) | ||
| Other undisclosed loss from continuing operations before income taxes | (4,183) | |||||||
| Income (loss) from continuing operations before income taxes: | 3,805 | 19,435 | 17,549 | 20,243 | (65,973) | (51,978) | ||
| Income tax expense (benefit) | (6,285) | 55,784 | (4,569) | (2,714) | (1,992) | (1,319) | ||
| Income (loss) from continuing operations: | (2,480) | 75,219 | 12,980 | 17,529 | (67,965) | (53,297) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 75,219 | 12,980 | 17,529 | (67,965) | (53,297) | ||
| Net income (loss) attributable to parent: | (2,480) | 75,219 | 12,980 | 17,529 | (67,965) | (53,297) | ||
| Preferred stock dividends and other adjustments | (2,945) | (8,700) | (6,275) | (5,848) | (2,373) | |||
| Other undisclosed net income (loss) available to common stockholders, basic | 2,945 | (21,322) | (20,534) | (19,595) | (8,268) | |||
| Net income (loss) available to common stockholders, diluted: | (2,480) | 45,197 | (13,829) | (7,914) | (78,606) | (53,297) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (2,480) | 75,219 | 12,980 | 17,529 | (67,965) | (53,297) | ||
| Comprehensive income (loss): | (2,480) | 75,219 | 12,980 | 17,529 | (67,965) | (53,297) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (1,471) | (2,406) | 1,111 | 138 | (700) | 179 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (3,951) | 72,813 | 14,091 | 17,667 | (68,665) | (53,118) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.