RMNI - Earnings call transcript Q4 2021

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Operator

Welcome to the Rimini Street Earnings Call. My name is Daryl, and I’ll be the operator for today’s call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to Dean Pohl, Dean, you may begin.

Dean Pohl

operator. you, Thank welcome Fiscal to Rimini Fourth Street’s I’d XXXX everyone Earnings and Year Conference Quarter like to Call.

table measures these press our has is financial been CFO. On website we GAAP following A to the CEO; we non-GAAP the our our a the release. of and XX, the our in release fiscal in in of explanation Seth believe non-GAAP is release year about metrics. heading of measures financial press issued fourth the reconciliation the Today, financial ended the quarter call with on also included and meaningful statements which Relations. me and provided Michael can under measures today found key why earnings Investor for under press they An XXXX, December Ravin, are and copy Perica, certain be

to current to may our XXXX reflect today. forward-looking from for As most statements forward-looking XX-K statements differ you to today. a that statements SEC filings, subject recent of and our Form will fiscal include materially made reminder, filed We outlook. These today’s year actual results risks encourage our review earlier uncertainties discussion are including cause that

we participate affect, able to discussion complete were we And valuable or recently Investors thank, a an of who our asked all provider you, to IR risks For want that stock feedback. of Analysts. may and results results of future price. Also, and reception survey

a be forward our feedback consideration move into and company. We into are the evaluating as year as the sure to all we'll take results fifth we public

like begin to call will Seth. questions, I'd taking before prepared the remarks. we over With turn Now to that,

Seth Ravin

today fiscal thank for joining XXXX QX you, Dean, results. you everyone Thank and and year us

million more generation. these and record fourth capital quarter we flow guidance, generated the increase more exceeding our that retention provide drive and our XXX XXX in $XX inception increase of market higher retention over we including XXXX completed Michael to Fortune Rimini's X,XXX clients Further consideration. XX and operations plan more revenue since our out expansion, cost very increase average prepared our We of client gross an time Global XX,XXX rating value. cash ourselves in XXXX, unique the quarter fourth believe a Fortune cash margin and than XXX shareholder extraordinary resolution cost outstanding we his case of than tax X.X client by for April XX that the XXXX, From than the ending innovation in record further the excellent. achieved in more combination of reduced and closed significantly potential net XXX strong factors on of legal remarks. will delivering X.X full details XXXX satisfaction with the year high perspective, improvement stock a year achieved fiscal provides quarter expanded will above and significant a and during cash Taking an XX.X%. than has to significant alone, cross services and tool delivery again client learning for and client company and even XXXX. in the experience, capital and new Also, companies Today, an for and client satisfaction respectively, onboarding X.X, added implementation patented and the saved We equity updates regulatory materially XXXX, transactions and AI extraordinary countries Since and debt, XX% for an led additional billion. patent experience support X,XXX client revenue one into differentiating machine margin For signed include our dilution just fourth unique and sales. we leverage, already of client example, introduction AI loyalty, we cases year its delivered plan technology. $X experience. $XXX.X average rating tools more and where rates Innovations support repurchase proprietary we year-over-year The billion. full full clients of more pending once announced clients, improved of is have of

and addition, the affecting our expanding XX.X%, geopolitical retention we year and employees. the despite XXXX by with In successful organizations, global over in challenges ending workforce in recruitment with global many X,XXX were Pandemic impacts.

have COVID steps believe in-person continuing to Russia risks human both sales taking or office Russian increase marketing the the navigated operations pandemic we event multinational and With Ukraine related activities. the and return personnel some despite Russia, and some And respect clients disrupt while and have geopolitical global to a any operation, clearly variants, that and new headquartered terrible well. We have in either Russia we far, events with globally Ukraine. our and not conflict, some Rimini are to Street economy, offices So global does we clients select in tragedy in existing could potential in-person challenges Ukraine. to do have or attend

the evolving serving the from we timely or not business clients, at Street material. for Russia expect the Rimini global of beyond, depend believe annual current pandemic at continue our to each us across and our enterprise clients new expanding receiving sales XXXX each of Current in opportunities solution process of serves will already strong growing that TAM our our factors to in sell Demand deals due to we clients the include on and with affect We continued and different we sales reliably time. software that history. opportunity and will Street's of a full industry payments our capability breadth sanction allow of industry to may needs this support time globally. experience for numerous existing execution. Russian portfolio different Rimini in largest logos portfolio. specific on Russian continue may many see cannot company And some conflict and go which and portfolio sales further solutions by any full stages we industries. Accordingly, The the deliver and focus penetrate Ukraine predict revenue to and and maturing extent than Russian and activity. solutions pipeline building evolving market launch, challenges other Ukrainian clients to is more large our to

AMS, quarter, largest our fourth sales company strategic, the deal local of wider were we transactions portfolio, industries global monitoring deal security, Transactions up the sizes, diverse our with in including across varying interoperability, During closed and to and ranging and breadth brands professional second spanning geographies services. solutions support, history. and

see that in productivity. prior year to to rates we through Rimini believe, we experience earnings sales time, at that rates our exceeded I'm in for the sales fourth existing and note fourth clients, quarter than $X growing annual half improved management during have sales billion one roles. shared We last call space less Street there's also are The year I in with cross continued close our the where many you close of continue. opportunity. sellers this within the than pleased and trend we to seeing of over expect for more the momentum sales white quarter this

was nor so. evaluating a was move theatre the achieve seeing goals was and their industries, In tasked building costs and globally the parts Street to to different and applications. Street Client was ROI Street from transformation with way Street SAP doing study time, and XX there we risks the DPaschoal, business This vision. leadership because want focus its next to and with with revenue have US, fully innovation saw support SAP DPaschoal Rimini with or money Rimini Oracle leveraging and service study. focused Oracle platform. keep on update automotive roadmap goals to Street business group capabilities. agreement accelerates significant support and and the team discern partner To I'd applications, could platform update. clients current upcoming to a DPaschoal their by highlight retail than the their transformation After business strategy are with to resources, addition, align Rimini reimplementation, services roadmap it major and growth the its regional the have in fourth a SAP leading we're strategic they personnel years. saw litigation Rimini transformation chain for DPaschoal out case aligned where to in Rimini by its rate determined innovation sales to system are both liberating benefit an case business. current across been with right how Brazil litigation goals like help To signed their increasing could There on analyzing and switch of we quarter. its to share SAP a IT more no a projects. IT ROI innovation digital associated projects. transformation replace that SAP seven-year running made their the strategy, complete run and its partners in smoothly system their ERP its to migrating limited

an the the pre-trial that Oracle products. stage. dispute the lines, pages XXXX. in trial believe Oracle engaged long it over quarantined services of Despite we the the support with in could Oracle presently hearing place Oracle, proceed since your proceedings, injunction against Rimini to injunction company relate of compliance support in years from which We ultimately oracle computer finding which also With manner court in other The In respect for September and items. two X.X which X.X ruled provide of in active the US issued compliance court center software legal, the be known of the proceedings certain by XXXX. and millions does a the XX likely and Rimini XX, dispute an found a declared evidentiary have courts known not for to both injunction as will respect in order in court five prohibit certain recover use. court included permanent hearing. defines violated permanent hearing, items fees. The attorney’s but been dispute. product ordered parties following the have is While third-party that injunction, that from $XXX,XXX order ago two as in dispute, the the Oracle. is extensive evidentiary were support of that and Rimini product of the Rimini case its filed permanent only ministry its injunction may remains files versus at lines. XXXX, provides the certain support on the The With Rimini Oracle any reasonable with on January Oracle over the the currently items, manner Rimini documents, Street that are ago, currently to court before awarded the of discovery commenced in and ordered XXXX Street has Street services the The an XXXX the five street favor in

and the disagree While processes Rimini both. to the extensive and and respects We seriously, of many implemented takes very law has comply orders Street findings. respectfully and court's with court procedures with

Court the of the appeal. payment be such, to appeal filed while In a $XXX,XXX US right Oracle, paid our of reimbursed Ninth for meantime, on we some successful to As to we notice Circuit Appeals. all the preserving of or

Following our stay some a may Oracle legal on likely not appeal, in do all, the see the all legal for additional reimbursement of information the and that a more. fees coming or filing XX-K resolution we reimbursement possible sanctions or of a to year District Oracle notice of be Please ordered payable, Nevada or the reasonable the least amount litigation. at Court of on of $XXX,XXX not for the of if fees. disclosures expect of may appeal, court our annual paid at Accordingly, any issued Oracle's Summary. or US

and and successful better support generation disciplined of to a We $X margin focusing on XXXX, litigation cash operating conclusion. to management and continue operations annual a revenue sales, execution by and our working project and complete scaling transformation our exercising Oracle billion productivity, XX% to bringing

you, Michael. over Now with to that,

Michael Perica

full for quarter was recurring Seth afternoon everyone. good results, increase for and million XXXX and the revenue, of than rate revenue revenue XX rolling respectively. cancelable your a our of million, makes months a basis. Revenue XX.X% up with subscription on least was subscriptions, XX%, fiscal million, $XX.X year-over-year you, was revenue fourth and of year was year $XXX.X over more which retention increase $XXX Thank XX.X%, of QX for non XX% year XX% XX.X%. and at Annualized a revenue service

the quarter, States full quarter and the was revenue, X.X% year, For was the growth United clients fourth basis, we $XX clients XX%. client full for fourth fourth X.X% million full year. robust States strong and XX% of for the growth full and Aggregate within United cash represented renewals, year. prepayments. XXXX, while from of cash flow, flow year, The the the for and in total year international year-over-year for international for while operating revenue On contributed XX% by clients a driven for was by up prior the quarter XX.X% the generated XX% increase multi-year

take which increase to and for as for XXXX. to are our the year, prior $XXX.X generation, XX% of full cash were XX%. XX.X% full fourth compared Gross the the pleased yield that well flow flow were drastically margin prepayments full the significant opportunities with client for of maintaining fourth XX.X% were quarter our year previously year for of invoicing for prior revised for on and was year quite range our Billings the year We upwardly advantage operating quarter XX.X% our for and strong for quarter ability million is XX.X% and billings compared key to throughout strategic fourth $XXX.X an guidance for compared and to of cash feasible. XX.X% increase year of XXXX, the not of million renewals above combined with capital provides to initial us XX.X% Multi-year the focus reduced XX.X% were $XXX.X both cost the an million, year. new $XXX.X with million

and service pleased to XXXX efficiencies, control. are continue through leverage and methodically and We expand our with throughout delivery technology process

XX.X% cost our increased for XX$ services experiencing to solutions guiding gross products, we companies and inflation. and delivery continue deliver expenses, full and to for margin we client on expect our unparalleled capability capacity with in other global we and non-GAAP labor to due to offerings be GAAP on to a in best-in-class some XX% ensure basis, satisfaction. new a We XXXX, basis. globally, the to XX.X% range can Therefore, service the investing year like of pressures Operating costs are are

and top revenue, at XX% process, was year and operating of mitigating to upwardly such, However, expenses the and prior we in acquire our on revised both a lower to in compared all in the our, We revenue our as the for XXXX, second occurred XX.X% year XX.X% ensure one-time positions challenge our as the percentage talent do of along with for the targets. information prior and US as to available first versus G&A and continue the costs the plan for includes basis, to costs below marketing was successfully and litigation on for are to XX% global company XX.X% year XXXX. and support year XX.X% quarter We Current we half more for audit costs. cost and and end XX% range items continuing of issued and of excluding our we by are whereby note These and patent geographies in XX.X% expenses and XXXX to gain by quarter broadening that innovative right full XXXX insurance Sales our more year, full to year outside growth such monitoring professional, part be for additional with the full service as expect full appropriate the emphasis a spend practices an quarter fourth right guidance nearly General incremental and marketing half. to in a percentage full the to the fourth a support legal, expected compared our profitability of year guidance sales meet a quarter, of fourth first support expenses remain systems, XX.X% year the investments on fourth decline or for options our in to to of needed to we to initiatives at exploring compliance the public recently as XXXX. year, part using this half the expenses standpoint, focused and XXXX range XX.X% hiring administrative XX% to growth cost GAAP delivery making did non personnel GAAP in technology, our growth cost leverage. the able for XX.X% investment and recruit

high-end G&A and result, a $XX.X to XXXX, range and for XXXX. year of the guidance for XX% XX% year as million of XX.X% on to full $X.X expect $XX.X fourth As quarter full was fourth to of be a compared outside XXXX quarter our we range, year revenue at year the the million basis. million full expense million to expenses the for percentage for non-GAAP $X.X a within prior the and litigation Net for XX.X%

fourth $X.X million for received related an quarter, Oracle attorney the insurance we During litigation. costs recovery to of

and reimbursement addition, for to accrued sanctions, reasonable ordered as estimate paid or an $X.X legal million for court for Oracle In XXX,XXX we ordered fees. we court go

However, the some fees Possible linear the litigation may our the be if Oracle legal And as not nature each of least we noted, and not of forthcoming all resolution spend district sanctions appealing we the at that can timing or quarter, based of payable, in a Seth expect paid of activities. of or do XXX,XXX more. the fluctuate reimbursement Outside court's amount on appeal. for are all, may or likely year any for not and is litigation at ruling.

Accordingly, the million we compared XX be year of for $XX.X expense XXXX. to XXXX, litigation year than Trial, a XXXX. in Rimini more in to expect range in full million we noted XXXX, XXXX, to the to We for due expect the XX to expect outside in in full for increase litigation million appeal II compared occur the likely spend likely moderate preparation which

full share or prior million $X.XX per quarter to $X.X quarter, and loss This share. XXXX, net $XX.X fourth or loss a share, common compares year for per $XX.X year prior for year full fourth common million or or XXXX was negative per common $X.XX $X.XX and $X.X $XX.X per million million share. negative common of the For income of the

full highlight significant to share. we Adjusted our accounting XX.X% to million was settlement paid benefit million preferred tax that Also, exercise effect, XX, which in recorded XXXX $XX.X fourth XXXX. debt the a leverage was the the versus the the a $XX.X year no Given quarter $XX.X record to would our further in year-over-year. full A, private in as with gain for October underscores cash of liability outstanding charge Series any with recent net we like million up for Warrant potential Therefore, or the realized our to positive to end EPS such XX.X% of to with statement associated cash quarter of quarter for of such Deferred We we $X.X than December offset the full $XX.X fourth $XX.X million year this the to quarter, the are anticipate liquidity mark-to-market ability for XX% $XXX.X million $XX.X going represents that net net our of ended from spend, $XX a an our assets million remain a cumulative stock-based XXXX. this forward, redemption million ended for at net income condition of during for was regard and the instrument $X.X positively by during a Moreover, more in EBITDA in year million with as confident This of loss of private balance non-GAAP XXXX. that we profitability, XX, of million, of longer position and non-cash years benefit excess is long-term should prior million compared impact a revenue income associated substantial the with $XX.XX XX%. of in the a That quarter. litigation million of for for revenue warrants the income XXXX fourth position price of treatment model fourth which XX.X% $XXX to was as fourth million warrants $XXX and in quarter, we of the fourth This and for includes fourth not deferred non-cash gain year profitability requirement profitability of do operating public sheet. XXXX, target longer operating of required fourth swing current continued of as a future impacted approximately led longer of operating The approximately and $XXX the achieve is value quarter full our non-cancelable relating there of costs no margins XXXX. million, of year $X.X therefore sum and fourth capital. in applied full quarter million warrants. the treatment, or Capital the compensation market tax build any that and for sponsor revenue excludes December and deferred outside or prior tax margin, any X% expire a deferred transactions. I class Balance quarter. XX.X% for expense, outlook $XX.X and there the year. the million, third Backlog, which our additional $XXX tax revenue income earnings by was $XXX of was result XXXX, per from impacting also quarter. the negatively no up which and of year XX% up prior revenue any XX, from of million

cash made plans particular privately repurchase our not open of at or any be capital next the is at in plan covenants, The without stock the guidance return trading we’re flow factors, concludes position shareholders. $XXX model, full to common plan including growth, has and years. amount company take continue alternate The required of our repurchases able The requirements, common price, stock that the amount agreement XXXX while execution to credit range a We and continue providing the Directors and notice. increasing stock limited first effected be million Outlook, up specific transactions. Seth company's on two million of million time are generation Board negotiated use of of generation common cash revenue not, time repurchases of today, to through stock to may announced can uses acquire however, questions. common market be including improved to As or of to Business various to any and program profitability. of we but consistent company noted, currently our stock of This to operating in market through cash we’ll we $XX prepared funding is range quarter capital. the timing and a both for to year revenue million. With Rule this XXbX-X repurchase believe purchases, drive free the $XX be and price, strong to pursuant repurchases XXXX flow guidance regulatory remarks. authorized $XX focus common trading improving to to general the now the $XXX methodical conditions subject our Operator, implementing million discontinued over

Operator

thank And you.

And We begin session. ahead, will we question do Brian from Instructions] a the Brian. Kinstlinger. now Go have [Operator question-and-answer

Brian Kinstlinger

Great, so thanks much.

revenue about from the to X% December a the the quarter decline implies for So first quarter. guidance X%

only that last years one-time. the revenue time sequentially During declined checked five I period during

client? lost a provide you result helpful? curious, Is pricing, can other any lower is a of it or I'm that would details So be

Michael Perica

world top model. that, a we've Ukrainian a survey, of war, really COVID some reverberations to past. we world, trying look to the at having analysts raise the conservative relative survey a than between with we Pacific. issues coupled more guidance things. Sure, the investors. happening perception a the world provided the in One, We still for did wanted Seth, the obviously, took both and in known challenges We Brian. beat be and looking this to little the sanctions very Asia couple positioned at rebel around the ourselves take – are get that. especially some with we're the And have I'll consistent On we're with that around events

only we as to to over more better of conservative but So for And up in that course conservative, the a XXXX. felt was just guidance and not be little guidance a the conservative, quarter position it being seen year. We a be position walk you've the took well. the annual

Brian Kinstlinger

terms sales most think to beginning I gives But you period, stronger, will be that And much What sales of pipeline to sales you where you demand stronger the team execution you it's the biggest in that the ahead, quarters quarter. execution, better the the and of quarter addressable? is get opportunity from Okay. then see mentioned, ahead. the third the already confidence two the that or when this grant is see much fourth

Seth Ravin

of So I ever large got we've process stages in think mentioned I deals Brian, sales a we've prepared a got the than first, various few in as things, remarks, as more we've had company.

were for support this management in field. we hadn't deal added announced additional out the sales had key two, We couple that players CMO. had last field a to all positions to if to wasn't the positions. the last we that the And we're So didn't at morning, that's Theatre, as with empty hired GM what we people of on lot able in of on those the we have a we fill, experience, who about of a believe experience to Americas had home. and some it missing being had third quarter, fumbled And reps bring enough sales lot data talked of the ball terms number number one. point the But look just we the about new the those we days, GMs you even merger the

proceeding. marketing inbound marketing being Our organization to transition of is an

see as performance the points incremental We all see of to quarter. the the those quarter the in third productivity. data relative improvement sales So, terms saw the in of Again, fourth remediated, improvement. we challenges in being we sales

experience, leaders closed We lot a across gaining maturing across gaining all great of we're are the lines. deals. logos closing in the world, So, team product experience the the

the all kind So, right in move we continuing in of we that XXXX. to maturing confidence see a direction giving is of can want I think us that deliver the team good of are that to numbers that

Brian Kinstlinger

that's queue I'll marginal a Great XX%? last X% still eight that did a quarters its been suggest and to even a get I rate, one what customer? super the I've in to of while that's compared -- X%, you maybe question the was and lose lowest that isn't XX%. back in there think you fourth at you've Anything something happened? so or by for all and merger materially, or while you've quarter it's the And got think XX%, is about had retention Was X%, material would or

Seth Ravin

weren't it we part XX was it trailing over It XX, XX% XXXX the was XX% the for Well, prepared XXXX. comments, December -- of during actually actually over but XX%, months and was of

was it par. it actually was So, on --

Brian Kinstlinger

Thank Okay. All you. right.

Seth Ravin

Thanks Brian. Sure.

Operator

our question Jeff. Rhee. from ahead Van next Go comes And Jeff

Jeff Van Rhee

Great, there question looking going? been find for sense how love guess many progress thanks on questions. you a are heads, flow incremental market know, side, to all you've in sales cash talent, very, little margins absolute I the tough attract? and How to you're in the some of the want where a We taking on able unique And to is prior the and as skillset. I to terms revisit an you very retention very more, recruiting both sales for good the well. talked bit

what a terms of got start just there. parts moving the in side, retention? Maybe the You on recruiting lot and seeing of leadership you are

Seth Ravin

our return Hi. lead to Jeff. program. capital going were Thought Sure, you with

excited about. be will people of lot a think I

think recruiting checks. that, tough, that. do doubt the no your all facing across I that know is I is everyone about there's

a ago on about think XX, we that XX. is to XX I the period, XX compared rep the months ended prior heads basis which sales quarter around

measure right was So, good. We've the But and coming on end quarter, direction as and -- great you X% We north America, were quantitative the I the the XX% think total hired at saw aiming and came after at that the of roughly adding year. aspects. increase moving the up. for world, much sales We've And came to a so the the numbers that of not exit a in compared knew management that's of some We're as out the flat. the people out of market, real quality you lot in out was across we where North the US I that in the talent especially XX%, XX% heads. been side. sales

get that So, nicely an I incremental the team, kicking as hires they very are the this that way think better. management supporting in do in metrics are

talked to and it the two. starkly and we've So, us year, sales we has XX enablement our quarter, that, think I in that we're will out are okay, And we which but we've accelerate I down in up. And that people as as sort been really black months than get that getting one know regenerating number. that those trying mentioned get or time to is is a door. XX% think the are was to that a that the faster. tough, was to it's of in objectives plus attainment allow key we And of bring who much below that as numbers. XX ramp XX% was level, good recruiting white less with third of XX long And ramp about, pointed XX-year getting revenue them We're the trained months than it prior more And people attainment tenure. plus to between higher the months on calls, down us

Jeff Van Rhee

some it there or showing signs Yes. the seen in, I still you've lot of are we And on, see of lot any at in a that you of a just brought cohorts evidence talent talent, to my just yet? be follow ramp? And going of was terms that faster thinking, out we'll months? XX Are know reps. let's new Is that leave of swapped have

Seth Ravin

that down yet. we that. I come are I that seeing think dramatically think, in XX don't But months. seen still we've to XX months we're

reps, point deals think have is, times. we've had we an faster our bringing in which important seen that talent new we great I data prior first their has in been closing are some believe than

right because believing that's know a first, once I bode note. full second done. the XX a cycle how months, how with huge procedurally. the step the a learning gets seller do They to their So people. for easier closing get deal forward. positive think than to we that down a does ramp a bring And deal the a under they contract a know from is that client. Obviously, belt, you're that how well talk to to know that That's can done They get

to deals well XX we're months. that the So at bodes those first close getting down I sellers for think fact earlier bringing

Jeff Van Rhee

going are And that obviously, on I S&M hiring wages numbers, give a where that, anything front? beyond you can mean, looks it share can you you end of the up. But sense to also, think spending like overall you're up, us

Seth Ravin

because been for XXXX. aiming heads productivity head. on yes, and XX think, from now sales for moderated OTE, mean, I of you we're -- XXX a I more a $X.X And we're XXX sales And years year, XXX, terms right, around bit, you're the little we've between you're about a focusing year the million per we've know, quota. And, right over has yes, $XXX,XXX a the for -- last few gone In XXX. comp

base But up. we're that. especially it performance it, based because world XX-XX you're for really us, the yes, most and generally So has gone between around of incentive comp, on

of unless not truly that type all quota. going to you're coming in that feel So through bringing of they're

Jeff Van Rhee

could Yep. there. for another a lot area if new other I Obviously, Great. sneak in focus and marketing one leadership And again, you. is just of

also the you the large commented wonder records. I reps. not of because of the the they in a I mean, value you be if on going getting position have pipeline. to organization You pipeline funnel, where stuffed comment got deal top is, late And the overall setting there's of the in that if leadership, they're in even the enough context on new the where

just maybe those questions two So there.

Seth Ravin

combination Xx. tell think execution really I pipe, in the pipeline, procedures, love between I there would pipeline Xx believe we've our a put putting the place. the you, for of regional of in. in pipe, those a in the it the place companies marketing, we're people good are I But way the ideally two a the little would making lumpy. from lead nice pipeline, will that. pipe. the Jeff, think around marketing Yes, on pull-through less Xx really It's months strive management with are wouldn't and do close. of another all consistently. we're We've little beginning marketing to say, bit that, We up more discipline around quarter get But programs region. a going We marketing run generally than the depends a anybody a a combination us the with It's local healthy across deal ever to isn't the that, lot some by diversity to marketing putting you I we're at a they a like of new I the changes Xx, regions breadth for take time that the think, some through the systems, I leveled us six year world. of feel and through, strive or probably

is, the So we're yeah, going get to my to Xx. sense

Jeff Van Rhee

Great. Appreciate it. Thanks.

Seth Ravin

Sure. Thanks.

Operator

Derrick And Derrick. our Wood. comes question next Go from ahead,

Unidentified Analyst

should and Great. Thanks, that? US theater guys. on that on the and on is for through improve in walk – just how quarter. us the for change, this this Andrew strong the on just the and maybe achieving Derrick. It's – today Maybe Congrats the announcement timeframe America's decision performance

Seth Ravin

that's flow, I steps. Sure. balance. always we've you you've is at always And It's balance And and, seeing done know, that's goal taking sheet that balance strong. massive not and as a between building on off in I cash our to position. growth. net paid very is And we've seen What been It's – all been having strong we're cash a cost focused are to company. growth cash a several to be switch we, think really a think profitability, as been the you're position, in between

you structures of as of We're when we growth economies playing just we we And as And plus one was and this head of we towards that's of looking at billion operating our Europe, couple focused well. with all out expect. took European target, think them theater and dollar integrated XX% in I looking care those We've scale. EMEA. and Israeli been for profit. been last So also on and Eastern think We're would which scale. months, about

infrastructure North P&L. offer America. extraordinary our operation, goal. really that's And with efficiencies, theater part, combining its has EMEA we're experience redundant umbrella. And better So companies, costs, cut team now we we that could with of reducing a other a modified expertise. And operate theatres lot and in position each really important clients took at they could, far just a by own leadership. our again, a be under we look that look And And you each those broader single took a as it's their America's we theater, because of Latin America. We with know felt all like the integrate, client get and comes at positions regional to a

scale continue a for look it going So around. is us really into for to we're the opportunities win-win to organization. all And consolidate bring to and

Unidentified Analyst

we about the It year? slowed this there Great. to call should anything a like growth that and international how growth looks little think bit out

Michael Perica

Yeah.

the a down quarter, was bit. For it little fourth

some acted been standard number. versus FX I we million difference what $X components have a part it third that quarter of that against had a fourth that really, fact flow the if But would we down course, ratable XX%, through had you're a when think XX% generally the and break to saw didn't you type about is it, also talking as flowed revenue through but get, that that the we deficit we quarter and revenue of from basis. on a

So as see the particular to just combination don't led believe number. not it’s But we between those really, a It's -- that we it's a particular trend. -- it quarter.

Unidentified Analyst

are those in the deals play? a big they kind still then it’s last in And strong pretty great. the quarter. if Did we deal had close or Okay, slip like quarter, quarter, from not, of

Seth Ravin

rising on the And the quarter, very yes, deal for of and quarter that in mentioned, Americas, of from first an That's side the largest large of second we other the have again, slip did our as part the one history Well, by America quarter. just deal again. the in the did we closed into fourth way, a it fourth it, And close. deal. we international moved was that

Unidentified Analyst

That's it Thanks, me. Right. for guys.

Seth Ravin

you. Thank

Operator

like no speakers And back questions to at time. to for closing it comments. we more have you turn this the I'd

Seth Ravin

be thank And out additional Appreciate we If there. Thank Please our great. questions, much follow much, that. good stay have IR team. everybody. very on very you, Thank please Have up that's there. coming contact call seeing first you to everyone. with safe forward those Well, We'll everybody to day. And through happy look a we'll you questions. the pretty soon. quarter follow-up

Operator

today's gentlemen, and participating. this Ladies concludes you. for conference. Thank Thank you

You may disconnect. now

Rimini Street (RMNI) 3 Mar 222021 Q4 Earnings call transcript