Rimini Street Q3 revenue up 40 percent

Summary:As of Sept. 30, deferred revenue was $46.5 million and the company signed 33 new deals in the third quarter.

Rimini Street on Wednesday said that it signed 33 new customers around the world and delivered third quarter revenue of $15.8 million, up 40 percent from a year ago.

The company, which provides third party maintenance for SAP and Oracle applications, said its deferred revenue also hit a new high. As of Sept. 30, deferred revenue was $46.5 million.

Rimini Street is likely to launch an IPO and has been delivering good growth in recent quarters. The company has been building out it portfolio of Oracle and SAP maintenance services.

In the long run, CEO Seth Ravin said Rimini can become a broader support company and diversify away from SAP and Oracle to offer white-label and software as a service support.

rimini092413 screen shot

 

Topics: Enterprise Software, CXO

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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