Rimini Street Inc. (DE) (RMNI) Financial Statements (2024 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)

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments125,250129,123119,57187,57537,95224,771
Cash and cash equivalents115,424109,008119,57187,57537,95224,771
Short-term investments 9,82620,115    
Restricted cash and investments 428426419334436435
Receivables119,430116,093135,447117,937111,57480,599
Prepaid expense25,64718,84616,34013,45615,2057,099
Capitalized contract cost17,93417,21814,98513,91811,754 
Other undisclosed current assets      
Total current assets:288,689281,706286,762233,220176,921112,904
Noncurrent Assets
Operating lease, right-of-use asset5,9417,14212,72217,521 
Property, plant and equipment   4,8203,6673,634
Capitalized contract cost, net23,55923,50821,52421,02716,295 
Deposits noncurrent assets6,1097,0571,7861,4763,0891,438
Deferred income tax assets59,00265,51564,0331,871 
Other undisclosed noncurrent assets10,4966,1134,435 1,248909
Total noncurrent assets:105,107109,335104,50046,71524,2995,981
TOTAL ASSETS:393,796391,041391,262279,935201,220118,885
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities63,08678,17568,39066,22153,56859,278
Interest and dividends payable 3,800 3,500
Employee-related liabilities36,55838,02627,91822,503
Accounts payable5,9978,0405,7083,2412,30312,851
Accrued liabilities57,08970,13526,12421,15423,34720,424
Deferred revenue263,100265,800253,200229,000 
Debt5,9124,7893,664  2,372
Contract with customer, liability205,771 
Other undisclosed current liabilities4,3364,2634,248107 176,858
Total current liabilities:336,434353,027329,502295,328259,339238,508
Noncurrent Liabilities
Long-term debt and lease obligation64,22870,00392,16615,9931512,225
Long-term debt, excluding current maturities64,22870,00379,655  2,011
Capital lease obligations151214
Liabilities, other than long-term debt32,63045,18149,98030,50532,002 
Deferred revenue23,85934,08147,04727,966 
Contract with customer, liability29,727 
Other liabilities1,9302,0062,9332,5392,275 
Operating lease, liability6,8419,09412,51115,993 
Other undisclosed noncurrent liabilities    1,1931,00529,740
Total noncurrent liabilities:96,858115,184142,14647,69133,15831,965
Total liabilities:433,292468,211471,648343,019292,497270,473
Temporary equity, carrying amount    137,854131,316113,998
Equity
Equity, attributable to parent(39,496)(77,170)(80,386)(200,938)(222,593)(265,586)
Common stock999876
Treasury stock, value(1,116)(1,116)(1,116)   
Additional paid in capital167,988156,401149,234101,04793,484108,347
Accumulated other comprehensive loss(4,167)(4,195)(2,724)(318)(1,429)(1,567)
Accumulated deficit(202,210)(228,269)(225,789)(301,675)(314,655)(372,372)
Total equity:(39,496)(77,170)(80,386)(200,938)(222,593)(265,586)
TOTAL LIABILITIES AND EQUITY:393,796391,041391,262279,935201,220118,885

Income Statement (P&L) ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues431,496409,662374,430326,780281,052252,790
Cost of revenue
(Cost of Goods and Services Sold)
(162,513)(152,385)(136,464)(126,211)(105,106)(95,981)
Gross profit:268,983257,277237,966200,569175,946156,809
Operating expenses(225,218)(249,188)(211,193)(182,685)(153,810)(131,455)
Operating income:43,7658,08926,77317,88422,13625,354
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
2,989(13)(1,605)(258)(1,495)(2,066)
Interest and debt expense(5,522)(4,271)(1,550)(77)(398)(90,861)
Other undisclosed income from continuing operations before equity method investments, income taxes      1,600
Income (loss) from continuing operations before equity method investments, income taxes:41,2323,80523,61817,54920,243(65,973)
Other undisclosed loss from continuing operations before income taxes  (4,183)   
Income (loss) from continuing operations before income taxes:41,2323,80519,43517,54920,243(65,973)
Income tax expense (benefit)(15,173)(6,285)55,784(4,569)(2,714)(1,992)
Income (loss) from continuing operations:26,059(2,480)75,21912,98017,529(67,965)
Income (loss) before gain (loss) on sale of properties:75,21912,98017,529(67,965)
Net income (loss) attributable to parent:26,059(2,480)75,21912,98017,529(67,965)
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:26,059(2,480)45,197(13,829)(7,914)(78,606)

Comprehensive Income ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):26,059(2,480)75,21912,98017,529(67,965)
Comprehensive income (loss):26,059(2,480)75,21912,98017,529(67,965)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent28(1,471)(2,406)1,111138(700)
Comprehensive income (loss), net of tax, attributable to parent:26,087(3,951)72,81314,09117,667(68,665)

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.

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