Rimini Street Beats 2025 Guidance, Pivots to Agentic AI ERP Strategy

Rimini Street’s fiscal 2025 performance marks a significant strategic pivot for the third-party support giant. While the company has long been known as a cost-saving alternative for Oracle and SAP maintenance, the Q4 results highlight a transition toward becoming an innovation layer for the enterprise. By exceeding guidance and reporting record Remaining Performance Obligations (RPO), Rimini Street is proving that its value proposition remains strong even as it navigates the planned wind-down of its Oracle PeopleSoft support services. This transition is not merely operational but philosophical, as the company seeks to redefine the lifecycle of enterprise resource planning (ERP) software.

The most striking element of the report is the launch of Agentic AI ERP solutions. CEO Seth Ravin’s assertion that ERP software is peaking technically represents a fundamental challenge to the business models of legacy vendors like SAP and Oracle. These incumbents typically drive revenue through forced migrations to cloud-native versions, such as SAP S/4HANA or Oracle Cloud ERP. Rimini Street’s new strategy is to allow customers to keep their stable, functional legacy systems while deploying an AI-driven agentic layer on top. This over-the-top approach aims to deliver the benefits of modern AI—automation, predictive analytics, and process optimization—without the multi-year timelines and massive capital expenditures associated with a full ERP replatforming.

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CEO Seth Ravin’s assertion that ERP software is peaking technically represents a fundamental challenge to the business models of legacy vendors like SAP and Oracle.

Financially, the company appears to be in its strongest position in years. CFO Michael Perica emphasized the achievement of record RPO in both the third and fourth quarters, indicating a growing backlog of contracted revenue that provides significant visibility into 2026. The company’s focus on capital discipline was evident in its full repayment of its revolving line of credit and the execution of share repurchases, signaling management's confidence in the underlying cash flow of the business. By increasing net cash year-over-year, Rimini Street has built a war chest that can fund the continued R&D required to keep its Agentic AI offerings competitive in a rapidly evolving market.

The Agentic aspect of their new ERP strategy refers to autonomous AI agents that can execute business processes within the existing ERP framework. This moves beyond simple chatbots to actual task execution, which Rimini claims can be done faster, better, and cheaper than native upgrades. This is particularly relevant given the current AI fatigue in the enterprise, where companies are looking for immediate ROI rather than long-term promises. Furthermore, the company's expansion into VMware support is a critical tailwind. Following Broadcom’s acquisition of VMware and the subsequent shift to subscription-only models, many enterprises have faced massive price hikes. Rimini Street’s ability to offer a stable support alternative allows these organizations to avoid rushed migrations to other hypervisors, mirroring the strategy they used so effectively in the Oracle and SAP ecosystems.

The broader implications for the SaaS and Cloud market are profound. As enterprise IT budgets come under increased scrutiny, the migration for migration's sake era may be ending. Rimini Street is positioning itself as the champion of the pragmatic enterprise, offering a middle ground between stagnation and risky, expensive upgrades. If the Agentic AI ERP solutions gain traction, it could force legacy vendors to rethink their end-of-life strategies for older software versions. Looking ahead to 2026, the market will be watching the adoption rates of these new AI solutions. The success of Rimini Street will depend on its ability to prove that its AI layer can truly match the functionality of native cloud ERP features while maintaining its margin profile.