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Rimini Street unveils Agentic AI ERP strategy to modernize legacy systems. August 19, 2026 Key points. * Rimini Street is expanding beyond third-party support with an "Agentic AI ERP" strategy that connects AI agents and workflows to existing Oracle, SAP and other legacy ERP systems, reducing the need for costly cloud migrations. * The company's support business generates roughly 87%-88% of operations, while managed services and AI offerings are intended to drive optimization and innovation. Rimini says its addressable market has expanded from about $15 billion to $80 billion through broader software coverage and customized services. * Excluding the winding-down PeopleSoft business, second-quarter revenue rose 10% year over year, ARR increased 8%, and gross margin was nearly 61%. Rimini reaffirmed 4%-6% revenue-growth guidance and 12.5%-15.5% adjusted EBITDA margin guidance while continuing to repay debt. * Five stocks to consider instead of Rimini Street. Rimini Street NASDAQ: RMNI outlined its strategy to expand beyond third-party enterprise software support into what it calls "Agentic AI ERP," positioning the company as a provider of AI-enabled modernization for organizations that retain existing ERP systems. During a presentation at Lytham Partners' Consumer and Technology Summit, Dean Pohl, Rimini Street's vice president of treasury and investor relations, said the company's updated identity reflects a shift from its historical role as a third-party support provider into a broader technology and innovation partner. The company supports Oracle, SAP and VMware environments, among other enterprise software systems. Pohl said Rimini Street was founded in 2005 by CEO Seth Ravin and has grown organically to more than $400 million in annual recurring revenue. The company reported 1,900 employees, more than 3,100 active clients and operations spanning more than 150 countries. International operations account for more than half of revenue, with the U.S. representing 44%, APAC 29%, EMEA 19% and the rest of the Americas 8%, according to the presentation. Support, Optimize and Innovate. The company described its "Rimini SmartPath" strategy as a progression from support to optimization and innovation. Its support business, which CFO Michael Perica said represents roughly 87% to 88% of operations, is intended to reduce customers' direct software vendor costs and help them avoid upgrades that they do not consider necessary. Perica said Rimini Street's core pitch is to enable "self-funded innovation," allowing customers to redirect funds that might otherwise be spent on software upgrades or migrations. He said the company provides 50% savings from direct operating costs on day one and can reduce costs by 90% over time by helping clients avoid or defer costly moves to software-as-a-service platforms. Rimini Street's Optimize category includes managed services, while its Innovate category includes professional services and newer AI offerings. Pohl said the company has also broadened its offerings through Rimini Custom, which supports clients' additional customized software and code, and through Rimini Govern for AI, a recently announced product intended to provide enterprise-wide governance, controls, security and performance measurement for AI agent activities and workflows. The company said its historic addressable market was roughly $15 billion for Oracle and SAP support. That opportunity has expanded by an additional $65 billion through broader software coverage, including VMware and Rimini Custom, according to Pohl. Agentic AI strategy targets existing ERP systems. Perica said Rimini Street aims to help organizations add AI capabilities to stable on-premises ERP systems rather than requiring a complete migration to newer cloud platforms. The company has developed more than 20 Agentic AI user-experience solutions and expects that number to grow by year-end, Pohl said. Rimini Street's approach combines its ERP support expertise with AI technologies, including work with ServiceNow. Perica said the company's Rimini Agentic UX layer can connect AI agents and workflows with existing ERP systems, including older generations of SAP and Oracle software. "We can extract the performance, we can extract the capabilities, and have tomorrow's technology work with yesterday's platform," Perica said. He added that Rimini Street is targeting enterprises with on-premises ERP systems that are already fully depreciated and functioning as scalable systems of record. The company also said it can support AI initiatives involving multiple software platforms, including customized or end-of-life systems, potentially reducing the need for customers to re-platform. Perica said Rimini Street has released dozens of AI "Explorer Packs" and is converting them into use cases and expansion offerings. He cited examples in which the company addressed client business problems with AI after customers had spent years seeking software or platform customizations. Financial metrics and outlook. On financial performance, Perica said second-quarter revenue, excluding the PeopleSoft business that Rimini Street is winding down as part of its Oracle litigation settlement, increased 10% year over year. Annual recurring revenue increased 8% year over year, while remaining performance obligations grew 8.8%, excluding the PeopleSoft backlog, he said. The company reported a second-quarter gross margin of nearly 61% and said maintaining a gross margin above 60% remains a management priority. Revenue retention returned above 90% in the second quarter after six of the prior seven quarters fell below that level, according to Perica. * Rimini Street reiterated guidance for 4% to 6% revenue growth. * The company reaffirmed adjusted EBITDA margin guidance of 12.5% to 15.5%. * Management is targeting operating cash flow conversion equal to 90% of adjusted EBITDA. As of the recently reported second quarter, Rimini Street had $123 million in cash and $48 million in bank debt, Perica said. The company repaid $10 million of debt in each of the first and second quarters and said it would continue to assess share repurchases and other uses of surplus capital. Perica also noted that the company has nearly $150 million of domestic net operating loss carryforwards associated with prior litigation costs. About Rimini Street (NASDAQ:RMNI). Rimini Street, Inc NASDAQ: RMNI is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors. Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Rimini Street, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rimini Street wasn't on the list. While Rimini Street currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

Khimji Ramdas Group chooses Rimini Street to reduce SAP support costs, protect 700+ customizations and reinvest savings in innovation. Omani conglomerate gains greater control over its IT roadmap, avoids migration pressure and funds AI and growth initiatives LAS VEGAS - Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company(TM) and the leading third-party support provider for Oracle, SAP and VMware software, today announced that Khimji Ramdas Group, one of Oman's...