Rimini Street, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Rimini Street Q2 2025 Earnings Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, July 31, 2025. I would now like to turn the conference over to Dean Paul Vice President of Thresher and Investor Relations. Please go ahead.

Thank you, Operator. I'd like to welcome everyone to Rimini Street Fiscal Second Quarter 2025 Earnings Conference Call. On the call with me today is Seth Raven, our CEO and President, and Michael Prika, our CFO. Today, we issued our earnings press release for the second quarter ended June 30th, 2025. a copy of which can be found on our website under the investor relations section. A reconciliation of GAAP to non-GAAP financial measures has been provided in the table following the financial statements in the press release. An explanation of these measures and why we believe they are meaningful is also included in the press release and our website under the heading about non-GAAP financial measures and certain key metrics. As a reminder, today's discussion will include forward-looking statements about our operations that reflect our current outlook. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from statements made today. We encourage you to review our most recent SEC filings, including our Form 10-Q filed today, for a discussion of risks that may affect our future results or stock price. Now, before taking questions, we'll begin with prepared remarks. With that, I'd like to turn the call over to Seth.

Thank you, Dean, and thank you, everyone, for joining us. Second quarter results. Results were solid for the second quarter. We experienced growing sales momentum as we continued our advance towards sustained growth and improved profitability. Sales to new clients and cross sales to existing clients included a mix of our products, services, and solutions across a broad set of industries and geographies, including a continued acceleration in sales of our new support for VMware. New logo sales included major global brands, and we delivered a strong ARR subscription renewals quarter as well. Billings during the quarter were primarily driven by a mix of new subscriptions and project-based professional services, with a notable performance by North America, where we continued to see improved execution. Sales included six new client sales transactions in the quarter, with TCV over $1 million. In the second quarter, we had more than 70 global quota-carrying sellers, with a greater number of sellers participating in the total quarterly sales attainment and a greater number of sellers achieving quota when compared to the first quarter. Going forward, we believe that we will continue to see growing sales opportunities across the entire solution portfolio as the business and technology landscape continue shifting towards the logic and value of our enterprise software vision and strategy. Survey and analyst reports indicate an increasing number of organizations are considering extending the lifespan of their current ERP systems and releases to drive better ROI, and embracing the Rumini SmartPath model to leverage their limited people, time, and money, and self-fund innovation with AI and other technology solutions. This includes technology offered in the ServiceNow AI platform that can simply be layered over the existing ERP systems and can deliver value in weeks, not months and years.