Rimini Street Files Q2 2024 10-Q
Ticker: RMNI · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1635282
| Field | Detail |
|---|---|
| Company | Rimini Street, Inc. (RMNI) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Rimini Street's Q2 2024 10-Q is in. Check financials.
AI Summary
Rimini Street, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as GP Investments Acquisition Corp., reported financial results for the second quarter of 2024. Key financial data and operational details are presented in this filing.
Why It Matters
This filing provides investors and stakeholders with an update on Rimini Street's financial performance and position as of the end of the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could impact investment decisions, but it does not represent a significant new risk event.
Key Players & Entities
- Rimini Street, Inc. (company) — Filer of the 10-Q
- GP Investments Acquisition Corp. (company) — Former name of Rimini Street, Inc.
- 20240630 (date) — End of the reporting period
- 20240731 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 31, 2024.
What was Rimini Street, Inc. formerly known as?
Rimini Street, Inc. was formerly known as GP Investments Acquisition Corp.
In which state was Rimini Street, Inc. incorporated?
Rimini Street, Inc. was incorporated in Delaware (DE).
What is the business address of Rimini Street, Inc.?
The business address is 1700 S. Pavilion Center Dr., Suite 330, Las Vegas, NV 89135.
Filing Stats: 4,701 words · 19 min read · ~16 pages · Grade level 13.6 · Accepted 2024-07-31 07:00:43
Key Financial Figures
- $0.0001 — h registered: Common Stock, par value $0.0001 per share RMNI The Nasdaq Global Market
Filing Documents
- rmni-20240630.htm (10-Q) — 1245KB
- exhibit311q22024.htm (EX-31.1) — 12KB
- exhibit312q22024.htm (EX-31.2) — 12KB
- exhibit321q22024.htm (EX-32.1) — 7KB
- exhibit322q22024.htm (EX-32.2) — 7KB
- 0001635282-24-000143.txt ( ) — 6694KB
- rmni-20240630.xsd (EX-101.SCH) — 42KB
- rmni-20240630_cal.xml (EX-101.CAL) — 63KB
- rmni-20240630_def.xml (EX-101.DEF) — 244KB
- rmni-20240630_lab.xml (EX-101.LAB) — 642KB
- rmni-20240630_pre.xml (EX-101.PRE) — 449KB
- rmni-20240630_htm.xml (XML) — 757KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 2 ITEM 1.
Financial Statements
Financial Statements 2 Unaudited Condensed Consolidated Balance Sheets 2 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income 3 Unaudited Condensed Consolidated Statements of Stockholders' Deficit 4 Unaudited Condensed Consolidated Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Financial Statements 7 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 ITEM 4.
Controls and Procedures
Controls and Procedures 36
OTHER INFORMATION
PART II. OTHER INFORMATION 37 ITEM 1.
Legal Proceedings
Legal Proceedings 37 ITEM 1A.
Risk Factors
Risk Factors 37 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 ITEM 3. Defaults Upon Senior Securities 60 ITEM 4. Mine Safety Disclosures 60 ITEM 5. Other Information 60 ITEM 6. Exhibits 62
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
ITEM 1. Financial Statements. RIMINI STREET, INC. Unaudited Condensed Consolidated Balance Sheets (In thousands, except per share amounts) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 134,197 $ 115,424 Restricted cash 429 428 Accounts receivable, net of allowance of $ 1,000 and $ 656 , respectively 86,961 119,430 Deferred contract costs, current 16,686 17,934 Short-term investments — 9,826 Prepaid expenses and other 24,644 25,647 Total current assets 262,917 288,689 Long-term assets: Property and equipment, net of accumulated depreciation and amortization of $ 19,764 and $ 18,231 , respectively 10,667 10,496 Operating lease right-of-use assets 7,477 5,941 Deferred contract costs, noncurrent 20,621 23,559 Deposits and other 4,152 6,109 Deferred income taxes, net 61,535 59,002 Total assets $ 367,369 $ 393,796 LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' DEFICIT Current liabilities: Current maturities of long-term debt $ 3,093 $ 5,912 Accounts payable 4,523 5,997 Accrued compensation, benefits and commissions 32,109 38,961 Other accrued liabilities 18,559 18,128 Operating lease liabilities, current 4,504 4,321 Deferred revenue, current 240,448 263,115 Total current liabilities 303,236 336,434 Long-term liabilities: Long-term debt, net of current maturities 68,731 64,228 Deferred revenue, noncurrent 22,345 23,859 Operating lease liabilities, noncurrent 7,526 6,841 Other long-term liabilities 1,650 1,930 Total liabilities 403,488 433,292 Commitments and contingencies (Note 8) Stockholders' deficit: Preferred stock; $ 0.0001 par value. Authorized 99,820 (excluding 180 shares of Series A Preferred Stock) no other series has been designated — — Common stock; $ 0.0001 par value. Authorized 1,000,000 shares; issued and outstanding 90,698 and 89,595 shares, respectively 9 9 Additional paid-in capital 172,951 167,988 Accumulated other comprehensive loss ( 5,922 ) ( 4,167 ) Accum