Rimini Street (RMNI) TD Cowen's 54th Annual Technology, Media & Telecom Conference summary

Company background and market positioning

• Founded 21 years ago to provide enterprise software users with more control and cost-effective support, creating the third-party software support industry.

• Addresses an $80 billion global licensed software maintenance market, with $18–$20 billion in ERP; offers a half-off model and custom solutions for broader platforms.

• Increasing relevance as clients seek to leverage agentic AI and avoid forced vendor upgrades, positioning as an alternative to traditional SaaS migration.

Innovation and partnerships

• Agentic AI and Rimini Agentic UX, in partnership with ServiceNow, are central to the innovation strategy, offering clients more IT roadmap control.

• ServiceNow partnership enables access to large enterprise and government clients, aligning on building versus buying IT solutions.

• AI-driven offerings are not expected to be the primary near-term revenue driver but are improving retention and pulling through core revenue streams.

Recent performance and growth drivers

• Q1 saw revenue ex-PeopleSoft up 6% and RPO ex-PeopleSoft up 18%, with momentum building since Q3 of the prior year.

• Settlement of protracted litigation in July last year removed a major overhang, enabling longer-term client commitments and improved sales execution.

• Average contract duration is around two years, with efforts to secure longer-term deals ongoing.