Rimini Street
RMNI on Nasdaq. Rimini Street sells third-party software support and services to companies. Market value $390m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $16.37 of spare cash in the past 12 months. A savings account pays about $4.
You pay 15.3 years of operating profit for the business. The average large US company costs around 18.
The filings do not give us enough to work this out.
Quality score: 55 of 100. Price score: 70 of 100. Our list needs 70 on quality and 60 on price.
$4.18 a share, 46% above its 1-year low
Over the past year the price has ranged from $2.87 to $5.68.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $374m | $410m | $431m | $429m | $422m |
| Operating margin | |||||
| Operating margin | 7.2% | 2.0% | 10.1% | -7.5% | 14.2% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.09bn | 0.09bn | 0.09bn | 0.09bn | 0.09bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)6 of 9
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 5.2% a year
- Buying back its own sharesNo, 6% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $111 million last quarter, up 7% on a year ago.
- Profit: $2 million, down 92% on a year ago.
- It keeps 5 cents of each $1 of sales as operating profit, up from 4 cents a year earlier.
- Spare cash over the past 12 months: $64 million. A year earlier it spent $44 million more than it brought in.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- It has $77 million more cash than debt, up from $22 million a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $105m |
| December 2024 | $114m |
| March 2025 | $104m |
| June 2025 | $104m |
| September 2025 | $103m |
| December 2025 | $110m |
| March 2026 | $105m |
| June 2026 | $111m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$43m |
| December 2024 | $7m |
| March 2025 | $3m |
| June 2025 | $30m |
| September 2025 | $3m |
| December 2025 | $724,000 |
| March 2026 | $1m |
| June 2026 | $2m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
1 long-term investor we follow owns it, down from 2 last quarter. 116 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Ruane Cunniff & Goldfarb (Sequoia Fund)John Harris | $143,417 | <0.1% | Cut |
Sold out this quarter
- Engine CapitalArnaud AjdlerSold out
Largest holders overall
- Adams Street Partners$100m
- Conifer Management, L.L.C.$25m
- Brooktree Capital Management$17m
- BlackRock$16mAdded
- Acadian Asset Management$12mAdded
- Mink Brook Asset Management$10mAdded
- Vanguard Capital Management$10mCut
- Pacific Ridge Capital Partners$9mAdded
- Samjo Management$8mAdded
- Kennedy Capital Management$8mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $4m, $420,512 of it under preset trading plans.
- Rowe David W.EVP & Chief Marketing OfficerSold
- Date
- 21 September 2026
- Shares
- 4,884
- Price
- $4.36
- Value
- $21,294
- Ravin Seth A.President, CEO & Chairman, DirectorSold
- Date
- 4 September 2026
- Shares
- 89,639
- Price
- $5.02
- Value
- $449,961
- Ravin Seth A.President, CEO & Chairman, DirectorSold
- Date
- 3 September 2026
- Shares
- 41,366
- Price
- $5.16
- Value
- $213,527
- Ravin Seth A.President, CEO & Chairman, DirectorSold
- Date
- 2 September 2026
- Shares
- 191,702
- Price
- $5.18
- Value
- $992,115
- Perica Michael L.EVP & Chief Financial OfficerSold
- Date
- 6 May 2026
- Shares
- 27,737
- Price
- $3.94
- Value
- $109,284
- Lyskawa NancyEVP & Chief Client OfficerSold
- Date
- 6 May 2026
- Shares
- 5,995
- Price
- $3.94
- Value
- $23,620
- Ravin Seth A.President, CEO & Chairman, DirectorSold
- Date
- 6 May 2026
- Shares
- 57,097
- Price
- $3.94
- Value
- $224,962
- Maddock KevinEVP,ChiefRecurringRev.OfficerSold
- Date
- 6 May 2026
- Shares
- 7,485
- Price
- $3.94
- Value
- $29,491
- Rowe David W.EVP & Chief Marketing OfficerSold
- Date
- 6 May 2026
- Shares
- 7,485
- Price
- $3.94
- Value
- $29,491
- Perica Michael L.EVP & Chief Financial OfficerSoldunder a preset trading plan
- Date
- 1 May 2026
- Shares
- 51,246
- Price
- $4.00
- Value
- $204,984
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 21 September 2026 | Rowe David W. EVP & Chief Marketing Officer | Sold | 4,884 | $4.36 | $21,294 |
| 4 September 2026 | Ravin Seth A. President, CEO & Chairman, Director | Sold | 89,639 | $5.02 | $449,961 |
| 3 September 2026 | Ravin Seth A. President, CEO & Chairman, Director | Sold | 41,366 | $5.16 | $213,527 |
| 2 September 2026 | Ravin Seth A. President, CEO & Chairman, Director | Sold | 191,702 | $5.18 | $992,115 |
| 6 May 2026 | Perica Michael L. EVP & Chief Financial Officer | Sold | 27,737 | $3.94 | $109,284 |
| 6 May 2026 | Lyskawa Nancy EVP & Chief Client Officer | Sold | 5,995 | $3.94 | $23,620 |
| 6 May 2026 | Ravin Seth A. President, CEO & Chairman, Director | Sold | 57,097 | $3.94 | $224,962 |
| 6 May 2026 | Maddock Kevin EVP,ChiefRecurringRev.Officer | Sold | 7,485 | $3.94 | $29,491 |
| 6 May 2026 | Rowe David W. EVP & Chief Marketing Officer | Sold | 7,485 | $3.94 | $29,491 |
| 1 May 2026 | Perica Michael L. EVP & Chief Financial Officer | Sold under a preset trading plan | 51,246 | $4.00 | $204,984 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.