RMNI - Earnings call transcript Q1 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the Rimini Street First Quarter 2018 Earnings Conference Call. At this time all participants are in a listen-only mode, later we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, today’s program is being recorded. And now, I’d like to introduce your host for today’s program, Dean Pohl, Director of Investor Relations. Please go ahead.

Dean Pohl

operator. you, Thank welcome earnings to Rimini first Street’s I’d call. everyone XXXX conference quarter like to

under On me we call can Tom quarter the with earnings be Sabol, CEO; Ravin, XXXX website. our and found our financial Financial these non-GAAP press release. this on financial to CFO. A release, provided measures GAAP Today, in press issued also has been Non-GAAP in explanation statements of our the the first of today our measures tables which Measures. is is included reconciliation following heading, the An Seth

made today’s of include cause our We outlook. or may that to these review to As discussion discussion a recent encourage our are may risks and affect reflect risks statements actual current results reminder, for you forward-looking subject today. statements a most will complete statements price. our factors forward-looking to that that filings results other differ uncertainties and These from materially stock

remarks. like begin we’ll questions, over the that, Seth. to With with taking to call turn Before prepared I’d

Seth Ravin

the primarily for and active Oracle of enterprise analyst Today, software based services, SAP leading industry recognition billion by provider number support support thank innovative, and and to Rimini XXXX software award-winning and software Dean, quarter first products founded subscription through both model. you, results. review annualized the on joining the market delivering us We Street’s an redefine $XXX firms. software and clients Street and support Rimini financial Street in everyone, disrupt by developing Rimini independent XXXX and to for enterprise products, Thanks, supported value-driven is

could invested of adjusting market enterprise money, annual rapidly to labor investments time Street’s want addressable XX% mission-critical billion. than for software that we drive client’s $X discount Organizations extend offerings billion in and saved date, more support cover these of Our competitive advantage. of billion more the focusing to have while new systems before ROI current and maximize spend. an global on current than their a standard significant To investments and software and have pricing Rimini spend enterprise $XXX clients current innovations the life the $XX our growth

quarter of XX%, First up delivered executed revenue, from XXXX growth. We quarter XXth and also of a XX of XX% XX% and XXX and XX.X%. $XX.X in Annualized the of delivery service generated gross clients, XXXX year-over-year of Global with increase a first of XXXX was Rimini year-over-year quarter operations. XXXX increase global companies. our net well we active quarter a of revenue in subscription the revenue $XXX Street We revenue results. Fortune delivered consecutive profit Fortune million, quarter million, And first X,XXX the XX XXX first year-over-year. includes ended which of

Despite broad closing across maintained out client an served X.X on we excellent, seeing We headwinds. of approximately XXXX, headwinds. in in our services, global some year-over-year. QX growing employees, XXX is quarter, industries than as X, XX company’s with ended an where support cases support growth across and Sales sales more for a average of increase delivery. the faced clients X demand satisfaction XX% market of rated continuing geographies, the During X,XXX fiscal of range countries. We rating the growth we XXXX QX

October on increase XX.X% to XXXX. due credit our marketing sales Accordingly, we in were able sales of sales QX covenant. Dip] revenue. We [Audio XXXX, to to marketing XXXX of sales of and spending governed had amendment to in XX.X% spending serve as our calls, in and down increased negotiate covenants in limited to facility. credit our will and revenue growing and were to to We us and spend First, and This spend sales in facility, XXXX. which We expand spending further spend XX.X% marketing quarter products In the spent revenue to on investing allow to and an in increased reduced XXXX, ability QX but XXXX plan during the for we earnings capacity. to the activities between on our the we first sales we our marketing marketing noted XXXX and demand XX% XX% better including this in began limit and of revenue services. and believe marketing investment of fiscal sales

well a the what impacted as Second, impact each new was competitor by believe of quarter. [Audio is and believe illegal continuing consecutive Dip] we and we client fourth our that we quarter in in first second, third faced some materially with a as sales XXXX behavior the XXXX declining

and court like I in behavior the addressing on would appropriate with seeking developments. Oracle. damages. litigation developments to our Litigation review We’re some now

by XXXX. latest paid respect desired be the an solid and referred March XXXX, service in including stage deposited vacated evolving cost favorably on press January launch had in district IT paid our Street’s judgment and As is X, with $XX.X provide new refund we Appeals Rimini federal paid their to technical court to the us our discussed referred QX in Street Rimini their remand their that the the call, against and had claims Rimini offerings the against of regarding Rimini pre-trial to for to release platforms launched quarter. The the on his new product ruling new a changes and refund XXXX, court. contains the Oracle about software of On Recent effectively X. legal specifics prepared X first Dip] Tom million Xth, hybrid innovative Oracle been the into Rimini million solutions directly in to we approximate advantage XX, all Oracle announced on escrow $XX.X against court Rimini solutions technology as new filed during me is by X; foundation personally million, Rimini Rimini immediately, enterprise approximately $XX.X Rimini Oracle’s Street’s allow products Analytics, the family systems additional others, Oracle available remarks family and service Oracle favor litigation in The during appropriate and more the we features Rimini remand after with Street appeal. threat XXXX refunded website. in Court made Rimini strategy. will future-proof this are is enterprise The trial May ordered organizations the XXXX, improved on Oracle’s new distributed registry, certain XXXX, as product Street’s constantly Appeals Street against for U.S. yet-unknown launch we secure environment. that have with million leverage appellate to had Street on held and our XX, this capabilities, offering Mobility reversed sometime an Oracle: million quickly organizations April different in and current a XXXX. Street With provide and refund enable $XX modernize including and as and received already a the of that an solutions in existing Security X, on the has [Audio and and an litigation to and following be stayed $XX posted valuable to and to an to systems uses on account, and and their injunction new the awards of anticipated now ruled solutions that a designed to XXXX of Court in the XXXX software and fees and earnings as first X organization was litigations from XXXX that and against stage Rimini filed in latest new Rimini Street investments. its competitive Database of mature Advanced offerings to solutions. information the

new quick-to-deploy these objectives to Street Rimini intelligence solutions and customizations and decisions their reach without multiple days, migrations capabilities and business are so and easy-to-implement and to This upgrades Our usable, and cost-prohibitive easy-to-deploy, better, enterprise delivering Rimini and quickly the allows costly access current by About innovation cost-effective, customer SAP. no to This functional replacements that’s business or potentially companies Microsoft are enterprise fully identifies analyze disruption. for now. required to quickly part and a dashboards own their the target Analytics release security of exploits from Street software logic undertake implementation. make functionality and changes processes, application designed fly. self-service enables with to of allows existing can time disruptive database All technical wait any a needed mobile leverage the years to database with data sources help systems. Street having Database a requiring create from ports across the distribute cost-effective, works value upgrades, that to connect on software Mobility products extensibility or vendor mature before in to CIOs are Users no platform. and the to users the the deliver as database users delivering fastest create Security, all vulnerabilities solutions. IBM, they Oracle, achieve next-generation Rimini intercepts attempted major without code. product to Advanced solution faster

Salesforce extension beginning products. and In model addition, sales launch cloud today proven with capabilities to products, we service of and are the to the our for SaaS service announce pleased support global award-winning cloud of

in operating Dip] maximize includes These integration investment operational to goal customization now Salesforce enterprise program services our the urgent in benefit system managed Salesforce help by ultra-responsive XX capabilities, enable of response now to for their from can with X which new customers guaranteed to for hybrid achieve XX-minute complement Rimini administration and their supplement configuration, XXX services by optimize and Salesforce-provided [Audio and proven software. across licensed issues, services Street’s addition greater award-winning, support support costs maintenance accelerate Our our on to total investment. delivery to our traditionally Salesforce core their enterprise, services. and SaaS project support is clients will customers ROI and leverage

long-time reaping platform TouchPoint, that have premium-level the redirected and support of service launch: Street’s we Rimini dollars more Salesforce have IT CIO saved significant the of been benefits our "We noted organization. our a Salle, Brice As Rimini client, initiatives about SAP Street within for Inc., strategic already into

or traditionally is of quarter will Salesforce despite continuing a solid Summary. results, and who services first website. help May, mission-critical sales support will sales navigate of press award-winning now available, delighted for their our operational to increased service across achieve SAP Salesforce Salesforce XXXX, marketing in and offering invested applications cost-effective, release cloud the and on cloud headwinds other a sales both achieved investment posted Salesforce ERP summary, which about and bring on that and cloud the services we well. service as some for Support the In customers and sales agility." including service new applications, and immediately solutions to support costs single-support is in have Rimini business in are launched Street cloud operational and cloud provider high-quality, have service are and for growth April services manage sales for sales now having cloud support our model licensed and development product choice We new several products. the cloud and Salesforce in

developments We vacating favorable $XX and also certain done. of refund which case including to Court with awards X in our Oracle, the Appeals approximately Oracle has in ongoing ordering and the Oracle litigation million, had Rimini reversing U.S.

executive Tom recruiting turn we marketing As and CFO. product expanding and service by XXXX, ramping Sabol, now fiscal new sales further plan growth capabilities. increasing global talent, fuel we I to sales senior and up investments, leverage service of call and delivery the continue our to and will improving offerings continue hiring over additional in operating

Tom Sabol

Seth. Thanks,

Let with QX me XXXX summary fiscal begin our results. a of

$XX.X and the geographies noted, across XX% and Seth year-over-year As growth increase subscription represents quarter of was the revenue our was million, $XXX up driven of first an million, higher as end year-over-year. by Annualized for balanced guidance, XX% on was revenue all well.

in of constituted deliver has expect around Revenue quarter Although XX% the and our limited by United the outside consulting revenue from for and our company. be down year-over-year. total services subscription Gross in global for and infrastructure an with XXX% revenue in year was The costs services in first driven the decrease products prior nearly and updates XX.X% margin the legal future. period. investment States based continue to investments in quarter, specific to some increased in by area been will the primarily for today, XX.X% was associated the XX% tax, and we growth of was profit from of countries. grew clients This continued regulatory

a we year currently the costs due to products. marketing new up of XX% XXXX revenue of slightly in to increased full will still XX.X% rollout Seth in and QX to fiscal our expect up year-over-year, of in noted, the sales profit expect all to gross of be the currently as XX.X% from be While Also, we as profit quarter, with associated XXXX. range percentage XX% gross

are and range the which We are targeting XXXX. marketing of revenue for XX.X% in XX% XX% QX in XX.X% was outside of administrative of from and of QX costs, ramping litigation XXXX. to expenses, spending down our XXXX, be sales in investment and to revenue General in fiscal of excludes

leverage continue we forward, in to to of Going our model. expect a G&A be source

$X.X of amortization the proceeds million, was first of reimbursement in infrastructure which However, of were and the in appeal now we net company, paid being of The $X.X $XXX,XXX may insurance in service million XXXX, additional make-whole Appeals. compared driven $X.X Interest of or costs $XX debt million for the The accrual of on interest result ago. as first and to reduce our $X.X $X.X remaining previously XXXX. we Litigation appeal X increase while cost that offset payments million costs U.S. our related received, paid next The X, debt fluctuate expense in proceeds acceleration G&A period of GAAP early the a the of made was expense $X.X the insurance the to professional to Rimini paydown costs operating reimbursement. portion year the and expert near was million over will payments. we which quarter awards to Of few QX quarter judgment public $XX.X increase of as facility Rimini Court vacated that from post-judgment year. The $XX.X refund to the a by may funds was per based outside were exceed $XXX,XXX primarily can overturned million and of and for service operating due revenue million same the million $X.X for by carrier. million our remand to quarter other of $X refund million costs and higher these certain percentage of debt QX is due April go-forward associated in Non-GAAP income quarters, quarter make-whole accounting was in the regard, the X the a expected related that linear make-whole in generally XXXX freeing of excluding activities. is on debt in by same growth and a costs subsequently incur currently credits, A million significant was be to Oracle and our $X.X to term. while of above work interest. and In reduction that are credit to income additional litigation. costs the $XX.X litigation the million compared should last service spend noted excludes service to and litigation approximately not $XXX Oracle total timing between invest our up litigation quarter, decreases discovery million on $XX.X range costs million court It obligations, of period with further interest the million to million compared the reduces the are opportunities. debt $X debt XXXX, of the discussed million amortization $X believe and the noncash. of expenses interests litigation of

in of loss our $XX.X balance We from quarter in QX QX XX.X million first cash income, the quarter expenses was other million to XXXX difference to XXXX. fully due for net of operations XX, total year cash period flow embedded XXXX. an ended cash share expenses the $XX.X quarter in compared Dip] year. Net million net million facility XXXX committed had $XXX.X litigation sheet. loss of the to the a net the fund associated million over the diluted the as QX reimbursement. Other at a opportunities. The interest the XXXX of of credit million compared first of period net revenue $XXX,XXX and flow loss the of in shares compared received Oracle the totaled compared prior to compared We as is XXXX, the March $XX.X fully remain compared shares compared We quarter in $XXX.X a in to prior part December was related of the and Deferred carrying XXXX. in fees compared [Audio a to to of million were the net and million $X.X Non-GAAP obligations and as of with further quarter per in cash of flows income to cost our same was of credit in derivatives of period on the expense other our million debt reducing capital outstanding first loss cash facility on million QX of with Dip] ago. $X.X $X.X million on $XX.X Our of net outstanding in interest was diluted $X.XX to first approximate $X.X change XXXX $X.X million our $X.X year. decrease $XXX.X million operating $XXX,XXX March the of of free quarter, same value the XX% growth improving million and XXXX, of post-judgment year XX, to same in for income QX the XXXX. million [Audio of in Cash prior as increase XX.X XX, to of

guidance. go-forward to respect with Now

$XX million to the expect in XXXX. revenue to quarter second of of $XX be range We in approximately million the

approximately continue range to to ended that, million full the $XXX take In year December expect questions. XX, in million be we’ll with of to revenue in And XXXX. we the $XXX now operator, addition,

Operator

and Derrick first Our Instructions] from Wood Cowen of line question comes Company. from [Operator the

Your please. question

Derrick Wood

talk it’s Nice Did today. for slowly of how addressing going this as sense heading you were mention a still guys. you through but about the and away? the talking friction a feeling cut would there’s to missed that to Thanks rest you’re the with environment. get you year. off comments Sorry, love competitive Great. Seth, you I your little about

Seth Ravin

Derrick. Sure,

the Oracle competitive with Oracle pretty a continue and I discounts we new side the of think a position launching and Interestingly completely and equation. fierce in we’re pricing competing SAP vendors the in by ever we world, product Oracle it’s which the into as it – and But Salesforce year across different between we across world, is Salesforce to ecosystem. it’s tactics have fairly are last regions. environment the in as including cooperative definitely us a partnership as see even different the with enough, And was. may some still SAP different where now seeing the the fierce get go-to-market much more certainly and that

Derrick Wood

Okay.

are I tracking anticipate that’s of investing you investments So accelerated sales in and walk aggressively to to new customer head and new focused how throughout you drive you expectations, your growth know marketing. how through relative what the mean, year? Can to just on us sales, guys we from expect these

Seth Ravin

Sure.

productive numbers be A we’re – before sales we would I well. started our million the on talked kind Greg we scaling we’ve our XX-month ramp about ramp become have meet nearly We on $X phase a brought consider players. gone of hiring A you I these we think that’s rep competitive We pretty the players quotas. And see want at the long. – a has compensation when who annual on next plan growth to X-month It’s to the future. of fully sales to began be increased the for plan we extremely as think January We’ve We’ve in what X. a market. Symon, hired in generally lot of in to look before a calls,

XX players things reps, we’re of included folks force. them we all new about for I a a class of the A the inside largest class XXXX out that so So sales people revenue just enterprise sales our account our of but make the the got sales in we’ve management, well, in lot as And training expand we’ve done space. And are talked development It’s we’re It sure included that reps. to software sales attractive reps, think hired. getting – we’ve behind prior a little as focused. couldn’t calls we’ve curve when bit ever, we finished from

marketplace so America. the so only in many as to demand internationally don’t rep reps deals. strong many reps all go just and only We seeing enough out those in – we’re have work work. There’s well as So deals a can North

last have XX% spend, and up to to to going the this and year to marketing saw sales for raising rebuild, we’re then year over our the year. the take overall XX% you this So XX% to as time moving it XX%

So we out aggressively. are the filling sales force

which pipe back money drive more having the transactions. more front into on includes work the pumping We’re to deal to sales the end in of events leads reps basis the and marketing, a global then

I the going arena. on end our that see normal growth, would been what the So in to to traditionally XX% be – think of has Street Rimini us continue which of lower you’re

adding This get QX, revenue model, coming don’t and really towards sales and to until XXXX. I that With in a a is feel QX model. back-end heavier play the we numbers of size on think is going we into sales of building as number year you’re this have, loaded reps, ratable a

those deals, you’re in going so get to it off see going revenue earned that to not all much We’re XXXX.

Derrick Wood

on looking cross-selling Is installed I the more also much focus is to talked cross-sell, new or you’ve you shift it that at seen know mostly logo have – base. upsell, about focused? into back

Seth Ravin

We see from going selling for you’re have start existing base into. fertile to coming already think demand field on as I in large us force. Salesforce our to with client especially, most the the a existing focus the Well, launch, with

client base that a for show there statistics who have of users, strong which our us. presents our are Salesforce of at Some opportunity we least existing also XX%

revenue going midyear, inaugural this through product value product. we for launch we’re – that going as a line, launching already when customers. you’re Typically, we’re be because we’re to far honing year, As

be to it – position And we we’ve as and the product. they’ve got but get got training market. going fine-tuning We’re learn already how we’ve started sell sales force, the to to it out to

new I So product pick revenue out my sense the think minimal. start is you’re the lot in I will this see fairly with Salesforce But of the think, be that XXXX these still running we that just up getting we’re for products accretive from going year a this to as again, door now.

Derrick Wood

Yes. And on they to such to you that you from in with to working a interesting What value terms Salesforce announcement, endorsement be the as it’s partner. itself seeing see bring vendor Salesforce? the are of

Seth Ravin

our a surprising working Well, than it’s with vendor. think who to in a vendors, entire position XX don’t I of spent have be for us, great fighting years anymore

support our of service, well the we streamlined Salesforce Street’s a most SLA. the strong specialize our you’re you’ve things marketplace as Salesforce, I product are think challenges is we our focused are processes, don’t They This spot. out the long-term sweet the and post-production. approach, if we bringing patches And sure now is vendors a there of product in of I’m are All capabilities, – because know Rimini into like that great, heard someone got our do in XX-minute on there service enough very the have you’ve home guaranteed where ecosystem. implementation. that to

lines Street our in adoption our adoption lines clients a of enterprise Street happier product if our as "Well, everyone’s out." out for excellence at is floated our means to more you’re I think net successful think, if a all case, win-win Rimini and positive translation: real in Salesforce if which clients will I thinking more ecosystem. more sales, multiple are looking have So can we’re therefore, product boats and that ecosystem, this the Rimini service delivering products, there known higher if these the And rolling like Salesforce, I more products, marketplace. successful, clients, you’re of and is, where in they’re a is a that about in you’re drive be more vendor utilization, what

Derrick Wood

looked Okay. billings items. talk Tom, you. I bearing on onetime structure contract about When I’m a growth. to come and at you some couple if Could curious very look on it I the calculated what the past quarters? for year-on-year with up mix had strong. deferred contingent that XX% the to there’s relative revenue number,

Tom Sabol

Yes.

So we this that did have the and essentially as it Derrick, call, continued quarter we of we fourth some about opt-out quarter some to that activity, what activity But have half well. on remember, as level we significant of talked is was. indicated the

permanent So billings now There’s are those of from dates, have that were, those in all had almost before QX, calculated behind March or we this XX quarter, to that all which in but opt-outs X all of seeing us. the X benefit customers. still converted later dates

So we opt-outs. not to did customers lose any date those on

you So that all of that calculate. those number billings are also included billing in the calculated

support So that that. clearly helped

indicated. we addition, growth, have as did Seth In

impact, less and QX that it’s do thing, cleared, the an – being in the QX there we part of is to again, of so activities into still of and are some seeing continues of that less QX. is less with Oracle impact which But due opt-outs an becoming year good less and But though a impact, seeing is We’re on improvements and over from did ago. is course, to see a us.

Derrick Wood

Okay. XX% guidance? in do And QX was gave on you full And have of you guidance sorry, year? I’m to XX%. full for the margin or gross that year

Tom Sabol

we expect XXXX. still all over we that but in be Not we’ve That’s believe slightly for all and of that’s for the of slightly significantly, – will quarter. still for QX, about full X to up up be as talked we But year, XXXX.

some lot, those things about it types talk well. a of products, the well new as we out as We’re didn’t countries rolling we’ve additional training, as – but added

the infrastructure, that bit just – quarter. on second the infrastructure are some some little a margins costs putting believe, for we So just pressure of for

Derrick Wood

Okay.

targets? you’re what margin medium-term adding – your gross that So change doesn’t

Tom Sabol

No, does not. it

Derrick Wood

All guys, me. it Okay. you. right Thank for that’s

Tom Sabol

Thanks, Derrick.

Operator

you. Thank of Walravens [Operator next Securities. Pat question Instructions] JMP Our from comes the from line

Matthew Spencer

Matthew for Hi. my taking Pat. question. on Thanks for This Spencer is

the in events litigation are just you First, next Oracle? the tell could with what we for look us should

Seth Ravin

Sure. is Thanks This for Seth. joining.

the see are – more heading for phase XXXX, in – to pre-trial XXXX. Rimini likely case. expect into trend we minimum We the we’re the So X till don’t we’re trial

for expert Now – what the March. them, leading we’re are each judgment and argue all to they and them components attempting trial. to come that motions our evidence case, writing to has all in over other. Oracle’s by and presented we’re exchange we’ll the are where summary discovery the reports, the then doing both That the But are been done, we sides phase, discovery writing the time then narrow back consider when in reports so experts and closed up

the in we’re X. that’s So for Rimini phase

we’ve X, had favorable the already through Rimini appeal. results. the gone We For obviously

some of legal fees don’t be court is them pay we or to back sent items the Oracle’s were be and know back heard. we And before whether not And should court. the the will including reheard, trial when to that

his no let we’ll We make whether time But that. no call us when anything, timetable have judge get court. decision And there’s a have just from limit and he’s we know. and on he’ll the or whether make no – will hearing the know or to notification going a again,

Matthew Spencer

And traction forward? bit there? more kind is Great. going kind What solution a could of are talk that little about how seeing Rimini of important And second, Mobility? a Street you you

Seth Ravin

without hundreds strong to solutions is existing out at you’re here on you and those years with who we’re having that have even there the – mobility product, doing have easy Well, come these out of Rimini older I systems options infrastructure all. into than analytics that, just the can at may easy systems different software is out on that some hundreds think it our generationally. your into couple clients of in watching core when were a products and course, Street they and tear of hundreds may out are old, options have to kind X, we’re some solutions and the mobility with what all come analytics and built strong function. extensibility a packages, to option, would have order the get look of who have is, built or And like we product that product systems the feature before are And in replace that the XX you there providers give to is whole change ever and bolt that of and it idea brand-new out, putting

additional the what So the and at ROI Street be is extending by time Rimini that say, software beat goal move a a revenue lifespan to, tremendous, XX-year course, is number client is us cost a a to average replacement that from say, a clients. project. of is from, of as And huge, And dollars lifespan in to lifetime which, of doubling savings our client, billions life. means an is values the can’t the difference doing of overall with us the X-year we’re with

on then things have strategy. the security. database So think is you have side, our that like you that, what example, And I for technology the

technology move is. and that around of You the forward with have sorts knowing some that don’t components we’ll all different today’s at what worry that it’s whether have virtualization, allow other future new future the to in systems, be about you be to types to the containerization, relative technology you announcing peace of technologies of

product. proofing that future of lifespan a years changes more on give we potentially We down come some may the the XX that from or XX, it line can are you

Matthew Spencer

Great. And hiring And other salespeople and how initiatives? important products are any for services, versus most would third, adding you drivers new Rimini what today? growth maybe new rank the versus

Seth Ravin

we I be. have right to get think we for size to the where sales us team now, and need our got capacity

of If know, we million As sales though a the this don’t we $X can have reps. a attainment we put so has there’s only sales game. more through number, rep much high drive if pipe your each of is you guys very even capacity, numbers

at should All sales instead simply and have to of critical. math out percentage of do XXs is where the you XX%-type – historically. It’s the look at where our is you look building bigger Why be bigger at in seeing as capacity numbers are. numbers growth numbers. seeing So math the a of we are we

force reps capacity sales to a not able the do more We number. We and have be that. have have XX%-type capacity deliver and to increase to sales to maintain do

challenge So for a that’s us.

I And force absolutely think capacity. one, so number sales building

Matthew Spencer

Thank much my taking very questions. Great. you for

Tom Sabol

Thank you, Matthew.

Operator

today’s back Ravin I’d the Seth the program And like does session to further Instructions] you. [Operator Thank question-and-answer remarks. this any to hand for program. conclude of

Seth Ravin

our our time I I of our much, appreciate staff, today. and the spend great. cover to as you thank everyone everybody very well us us. Well, and, thank as analysts Well, investors course, joining want who did to

forward and good we a look it, So much, we appreciate on Thank second quarter day. everybody. XXXX very to seeing our everybody results you Have call.

Operator

today’s ladies program. conference. you, does gentlemen, the participation This and Thank in conclude your for

now disconnect. Good day. may You

Rimini Street (RMNI) 11 May 182018 Q1 Earnings call transcript