Earnings call transcript Q2 2023

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

Operator

Good afternoon, and thank you for standing by. Welcome to the Rimini Street Second Quarter 2023 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Dean Pohl, Vice President of Investor Relations. Please go ahead.

Dean Pohl

Operator. you, Thank welcome Earnings to Rimini Second Street's I'd Call. everyone XXXX Conference Quarter like to

On me CFO. call President, the with and CEO Ravin, Michael and our Perica, our today is Seth

measures for in Today, under our measures release. to XX, a tables Relations. our why of following included statements we copy financial they explanation non-GAAP meaningful A we Measures and has on the About quarter can found under these earnings are release financial XXXX, in the be issued which website ended the press reconciliation believe June Metrics. provided second Financial An in of press Certain the been the the Investor GAAP is Non-GAAP Key and also press heading release of

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

questions, remarks. with begin Now prepared taking before we'll

to With Seth. to call turn that, I'd the like over

Seth Ravin

Thank joining and you, us you, Dean, everyone, for thank today.

run, protect, monitor, software application, the optimize and support IT Rimini and company on review very database into software and of global the most technology results, specialize Street support, we mission-critical strategic really a focuses connect, evolving software. enterprise quarter remind a Unlike in to that needs to and products specialized who Rimini service single Before of IT implementation, configure enterprise has instead I and everyone again wanted Street providers customize, operational from been area growing services. provider service manage, end-to-end

X,XXX earn average where XX/X with than score over XXX X is client XX time on and our engineering capabilities senior support average exceeding with countries, operations an X.X an by less excellent. X X to across employees minutes, of clients support spread delivery delivering global response have We of satisfaction out

third-party SAP organizations we're Global of X,XXX and Oracle a leading public and industries. other Fortune broad and the date, Today, served support range to for over XXX, sector Fortune across XXX, have provider mid-market, software

to Salesforce We profits, SaaS enable billion innovation, business clients respectively. also in and costs, of advantage, AWS are cloud increased operating outcomes, opportunity believe reinvestment markets, investment over increased in and achieve clients. and as partners we $X to lower savings our improved delivered We have growth. such We accelerated competitive better and

results. Operating

of across solutions on we quarter For of of deliver sales the to portfolio globally. focusing the continued improving portfolio full execution solutions XXXX, being second the and expanded able

buying and prospective offerings they As the and more our solution learn current clients across value responding about and positively unique of our portfolio, are portfolio. full expanded the

invoicing sales quarter included in full across American improving revenue and sales growth higher pipeline believe increasing good in North and results strategy, and profitability. Our increased client leads, opportunities, the a showing growth sales and traction drive program we Operating team are history continued second are pipeline, will new next-generation ultimately and portfolio. improving believe and total achieving with global that sequentially year-over-year rate revenue largest product invoicing we and the

leverage full that To and the provides backed globally, deliver continue and and increased to by in-person pipeline meetings attendance and current including executives, our solutions accelerate our prospective and third-party profitability To prospect technology continued and innovation and Street senior States development clients. globally close myself, for enhance sales and of in executive grow lead, strategic Rimini growth. large our events with opportunity, at capabilities and extensive United workforce additional portfolio we transactions, help hundreds and more and client meetings and our

faced partner reliable advantage. increased better aggregated competitive as and organizations management, IT Rimini providers of be an strategy We proven, the environment help evolving solutions system services to and vendor needs goals mission-critical to products over broader are and streamlined plan to increased execution. portfolio global for roadmaps IT consolidate recognized for strong achieve provider to how needed every the the a meet just need service complex them preferred coming and can developing that believe environment for and years. Street key their end-to-end well Demand positioned of we as IT macro a the Organizations that revenue partner in transaction We now competition that allow see purchasing services, building power, support, IT figure their outcomes. clients heightened today to has of and out can to mission-critical and And both to service industry current that organizations profitability. from deliver help about growth demand navigate

for update. litigation in and Oracle litigation Rimini than have Street more been Oracle years. XX

presently While provides ago proceedings have X is which prohibited which Rimini dispute support Street active is services for from for proceedings, we in the compliance confirmed support Oracle injunction The with to U.S. II Oracle not both software of have Rimini Street any courts supportive Rimini lines. Oracle. relate products. legal, certain services providing and manner that long the third-party product

appeal the filed the of respect rulings Xth the relating X, the Appeals the dispute, XXXX ruling appeal could court the San We States appeal Oral With held Circuit were we a any matter Appeals. XXXX, of arguments Francisco of injunction at in believe and Court remains year. Court. an time the Street District of to United on compliance have before on certain in pending February Court this the on U.S. to Rimini to

Inc. October XXXX Oracle the Street, filed U.S. in District respect Rimini II, Rimini International a to Court. versus Corp., lawsuit, company in With

set kind was begin withdrew legal monetary against to relief as litigation. Oracle of myself trial CEO Rimini the in its the the any and any before days litigation, Street Rimini Just II in under claims theory all for

permanent company finding called Rimini of issued and injunction of fact Following trial Court II and law injunction. its a July the in Rimini accompanied XX, late District XXXX, against by the XXXX, on conclusions the II,

pertinent District The legal company extent license. same prohibit that hiring perform including Street number Court held customers significant to customer on like prevailed the updates U.S. third a and not Oracle's a points, the Rimini software fixes could under to Oracle's Oracle or pertinent the infringement of licenses from a portion do the of party claims the themselves

of of and results July On response July pending However, the XX, XX, XX, by several the the order briefing of of the XXXX. of a X, Court. issued the of setting XXXX, other motion rulings an Rimini's motion Oracle's due And company with expedited XXXX, District U.S. filed disagrees XXXX, injunction, to for Rimini II conclusions emergency Rimini filed an injunction stay with on findings, appeal. law company, respectfully due II District stay XX, on and comments and findings notice conclusions, and the II July the schedule company's appeal XXXX, the emergency by reply enforcement Court August Rimini August an and

is clients second Oracle's of The Peoplesoft of of Oracle's services Rimini II not the at Rimini People using software but revenue for primarily injunction The fiscal injunction provide does company support limits software quarter The the product. Oracle X% II product XXXX. during solely provides the fully percentage approximately was can company's its software support company currently total PeopleSoft revenue services the directed from derived the prohibit product.

in company's on company's with report XX-Q Form X, and information litigation For please the Oracle, Exchange our regarding the disclosures see the quarterly and XXXX, on U.S. August Commission. additional with Securities disclosures filed

in and to court additional Please statements activity. beyond we and comments engaged provide to also related our that impacts court press filings we are additional and able and we motion briefing provide in material this note the to information filings, time, or at analysis because continued disclosures litigation SEC are releases, unable are current nor

bring Summary. to remain right the conclusion soon successful our to enhance the are take shareholder possible. growth, profitability, we making value, confident that We litigation reaccelerate Oracle with as and increase actions a right as to investments continuing and

Now over Michael. you, to

Michael Perica

on were quarter gross with Thank our revenue. net you, Financial and in Seth, revenue everyone. rate retention joining EBITDA, performance subscription for you We pleased adjusted results. second income, revenue, and margin, thank us,

sheet position strong quarter of securities $XXX.X equates $XX.X in a which maintained U.S. million. cash we and million with $XX at Additionally, million, to end balance cash net debt of of government-backed a

a second a record X.X%. $XXX.X for was million, year-over-year quarter increase of Revenue the

currency On a least quarter. total was the for XX United Our States total Annualized were than service for negatively rate a which was of for in quarter the our recurring months, million subscription clients revenue impacts XX.X% X.X%. a makes the XX.X% of XX% the XX X.X%. international at while more of months. basis, Revenue currency again by revenue having XX% increase X.X% of movements negative unfavorable up year-over-year was impacted noncancelable revenue year-to-date in contributed impact revenue represented of growth revenue, for within Clients the second $XXX.X revenue. retention XX.X% subscriptions, trailing with revenue, quarter, to

the quarter compared XX.X% the On expense, revenue gross second year second Billings prior were for quarter million quarter. XX.X% prior for second prior compared which margin compensation million the for of the of second to an quarter compared was quarter. margin Gross year year of increase XX.X% second stock-based for basis, for non-GAAP XX% a X.X%. was to for excludes quarter, second the the to $XXX.X revenue $XXX.X

expenses. Operating

margin second a and in compensation to value a revenue prior XX.X% which our second inflationary attractive. percentage labor of compared retain excludes as quarter to theaters, with to talent. excellence the prior basis, of we marketing and continue talent sales XX.X% are XX.X% still percentage marketing our the as remain and geographies for extremely the expense, across both quarter. a was year quarter. Sales ability expenses advantage compared second XX% centers revenue strong very stock-based skilled for all of second global quarter our expenses non-GAAP performance where underscores was pressures of of footprint for the the revenue the On for both are persistent for attract pleased Moreover, key While to with and year

in remain earlier market Seth on leading sales these As solutions noted investments capitalize focused portfolio we our pipeline, to the for appropriate the needed improving opportunities. indicators making of and expanded on accelerating call, growth in our given

the expense, for XX.X% as of which On compared of quarter. was prior to General a for and quarter. non-GAAP compensation the revenue the year revenue second basis, excluding revenue for a costs, expenses compared quarter outside revenue, of year the quarter XX.X% second prior for stock-based XX.X% administrative XX.X% was G&A second percentage excludes to of litigation second

required year-over-year spend and the to solutions We the is due behind expanded develop now that restructuring of largely previously and us. are seeing mentioned good a portfolio in initial our investments to improvement launch

part G&A compliance and legal by as teams expenses our in elevated our continue to necessary to litigation large be other to for the and due peers However, made in-house costs revenue with percentage compared a of ongoing ongoing Oracle. costs

million $X.X was court the second in quarter Seth the prior year we expense to decreased discussed earlier. to litigation outside compared quarter. for The reduction due that year-over-year second Net for activity await million $X.X is spend rulings as

excludes outside the non-GAAP quarter. margin, prior XX% litigation Our spend year second for compensation, operating and for which XX.X% quarter second and revenue improved of the stock-based to

of quarter, shareholders second $X.XX revenue the income for million year $XX second Adjusted million $X.XX share prior million quarter income of or per a net compared attributable million of $XXX,XXX the net quarter. of net non-GAAP revenue for income per second was the per diluted quarter. prior to compared for year million diluted a share per XX.X% $X.X diluted $X.X a share year $XX.X second to $X.XX XX.X% share second or to or second or For $X.XX for $X.X quarter quarter. the or diluted was net On income to basis, was or EBITDA prior the the compared for

equivalents XX, to cash June compared On second second XXXX. short-term flow a to $XXX.X cash of the $XXX.X with quarter. the and for ended $XX.X investments cash million short-term consisting basis, cash flow quarter short-term million plus U.S. investments second treasuries agency quarter Balance million, to and million million securities, $XXX.X operating compared We was of balance and a $XX.X million year sheet. of $XX.X bringing at prior

June compared the second the million sum $XXX compared prior deferred June XX, which future revenue includes $XXX increased XXXX, XXXX, revenue $XXX of million $XXX year to of second to the revenue, Backlog, quarter. to as year prior million was billed million Deferred of quarter. and noncancelable for as XX, from approximately

market activities. Capital

revenue the quarter, before million adjusted second $X litigation price is guidance company's million litigation at Courts and activity per share. of outstanding XXXX to company third clarity full year the shares average an $XXX.X we the there be revenue from current million providing During is until suspending in around XXXX $X.XX impacts $XXX.X EBITDA The Federal and with of range U.S. in more guidance Oracle. of common quarter our the to repurchased

additional litigation Form Oracle, the disclosures X, the please XXXX August and company's report with filed and For our with disclosures regarding see Commission. the Exchange on company's on in XX-Q information quarterly Securities

our now questions. we'll concludes Operator, remarks. This take prepared

Operator

The Instructions] Brian first [Operator Alliance from with Global Kinstlinger question comes Partners.

Unidentified Analyst

This evaluated any my ruling Brian. taking Thanks process To more a share expenses comply you with upheld? necessary if have that questions. can And to the is for for Sherwin on you PeopleSoft start, if for manual so? is

Seth Ravin

talk Sure. you. answer Good data. still to Seth. to compiling is It's The the we're

We since have that the we had of do, court's steps the the We've course order. have would teams court's to to we we and on do, have working got do. can been calculating that working that day injunction order the what we

do. what because is to the stay with As filed you've the there significant seen, are court we to some us motion problems asking emergency an injunction

the And from to court At about some is gross that can't in point get I with -- after to it share X% any really so back, early our in historically if go I, that the Rimini to look schedule point we estimate we X% process of can we'll time from time, of finish this line. is that XXth, we'll XXth. that more in to on back see and records, say comply, this the at this cost briefing the what need hopefully we in we we you have to in likely we that again, thought point manual through we that what to court, XXXX margin clarity and time, data. discussion to dealt product the you answers sometime conversion XX hopefully used What when would when 'XX a get as as do at

accounted revenue. based for our you've our X% of product on the line As seen, disclosures, roughly

and gross could what do You margins might numbers against look our see some like. calculations those

Unidentified Analyst

Will Will on results you planned the or your impact the depending strategy? investment ruling more have an on appeal? the do you less think spend of

Seth Ravin

suspended fourth rulings you Well, just go process. guidance we in through quarter as think much I can the around too uncertainty reason have court we while this the tell, was we because the

Federal of the process. Courts, know, have have a respectful the As you extremely have we're There's reason we Supreme Courts, Court. we we Appeals

with them, going through respectfully. opinions, process court's of are We the respecting the disagreeing

but whether suspending court. wish a take be works. revenue, appeal this. Now guidance system tell right we Unfortunately, have the we the side on costs way it felt, be the that's get the was process we're the the on just again, thing, in It through on could court of more weeks, because from might we be impact we days, would until this faster turn, impact can't could what and clarity the impact an an we'll so sales,

the contracts and a we the work, giving expense in we're way ratable with as because comfortable quarter halfway quarter. almost were model numbers. we that we we time, the play the revenue could workable to couple you quarter model know, have the this this very reasonable comfortable in process range and Now, just our next I third of guidance predictable. through was already provide fourth point on over And weeks. felt think out At of all But not terms in the a let

forward the to the methodical injunction way. We in but aren't hand, X-figure closed have of by move working on morning. we the to business, business with forward, this all we operations course our comply continuing of affected move to all one deal the we injunction another We're the parts Now, other of a course, continued continue business. even close to around that continue the business

Unidentified Analyst

a have talking know prospective that September court business. the is your do regards business, yourself to clients a new explain? lot you closing quarter questions asking you ruling? for Are Are you're see to -- In busy I new of to about seeing

Seth Ravin

lines or communicative. with? had what waiting. stay it could been would I are this working natural, few this has press but my put today. We've one a say put inquiries, public any we've motion. out few you count the people I'm not out I had been the them lot Does think business a many. We've a product calls. hand does just of mean? of We impact probably release. That's again, on We Because, a that

affects, to they are We're people salesforce. able what asking of basics, of that the on through majority we think forward to the be know again, where take think, courts, move this this injunction we're the hiring the being the and there's expanding follow we're outside continuing I of I an normally. we process. seen. based increasing I through amount and that in working people But to business And we've fact, our think is work will the patience while

As down and little a you know, couple regrouped we backed quarters. over our the bit of salesforce last

fact, feel fine-tuned in to We marketing reps. terms that now In the wanted out XX we about what execution. of we good down message, reps get to sales of the those

that saw just America performance X-figure comfortable the the years. of compared Not of and to doubling but in there year really of expand the to the A forward that we've end including in now. a year. spectrum to so in lot metrics, going good big that's the You 'XX. the looking It's where sellers total, in of way we we sizes, to deals significant by seen the a most business of with move salesforce with potentially North we're number across ago. sellers we're We're and are XX hired, get to up that see but number lift deal

a along separate continue So to we our the court we're this deal yes, business, and going continue plans track. business, the grow will to matter going grow to we're serious to with

Operator

with Group. The Van next Capital Craig-Hallum Rhee question comes from Jeff

Jeffrey Van Rhee

up on expand very and Maybe a leading seeing you And then unless backlog. pipeline. and duration, that, might contracts I'm have on other start it wrong, looks question there? roughly if the Michael, XX%. in commented what indicators numbers the little reading positively. have been I It lengthened. the it you was you longer-term just The one seeing on pipeline bit with could in it the maybe Are you, like trending are like looks

Michael Perica

backlog a Jeff, second I'd suggest nice your in in over in my to go I'll I And some answer perspective answer does of like can contribution, pipeline from longer-term give nice he figure had you outside first. question wins actually the remarks. Inherent quarter. contracts think some better analysis that Seth, to the a

Seth Ravin

I said pipeline, of second and Sherman, a deals, the Sure. enough, with think, is Yes, as really it's mix deals. growth again, the I just I we're about just ago what seeing, of Jeff, not the in numbers the interestingly what like

second sweet of in lot mix what quarters. see. that really which healthy wanted lot range, seen a The we probably the us. had deal A $XXX,XXX spot of is healthiest in for sizes to $XXX,XXX a deals quarter of have we It's to that

love quarter, and to on on idea quarter was And what You was spot million to icing to that to in would up on we of the another watch really had biggest We the I Again, big X the I $X deal basis. sweet deals a our annual the be saw big which your big to deals nice was midsized deals, win, megadeal. numbers great we did an think those mix cake. deals. business your then as make deal think all in that able count X X-figure

last in think I X-figure. was from also We range in the several in the the the year. of overall doubled the our We QX ASP And deals higher quarter. did number

us across one in we We in head We sales, to a So head And the some which The so we not quarter we big up generally, with I lost showing where we of XXX% we along year. a on rockiness just few performance marketing, a areas marketing EMEA in whole that expanding new got components. the direction. have the last way. be change of and I so was now ANZ, had to, up And think North problems And right were the that moving Asia. we America. saw But some both and had in we've and we're ANZ number all lot across to issues, here. one going EMEA is now, the in of to the saw leadership, execution replaced starts issues, right some our for the enough execution the think and to this sales out demand healthy challenges. we're again, in think forward performance metrics had had right. the the days this don't North move We'll focusing again, are team. we America America North those

Jeffrey Van Rhee

database seems clarity And one the relates migration window. came Obviously, two, processes automation affects commenting, primarily But anything meaningful to know more then meaningful the any and some she And you're to one. those follow-up PeopleSoft, other means service to for to going change at going that the PeopleSoft. vague platforms? in are ruling threw PeopleSoft see. in it ongoing the to on service process legal be and judge tools and/or on impacts Oracle Great the To the did any about that you're be And other migration support forward? any tools? what threw then required window hard out customers. very but book side. if how the figure see comment the related to I exclusively you to comment clear, to That's have else to tools that suggested and as

Seth Ravin

to We'll question. database answer the

the that had think agreement, them our as we to ago, she I able the emergency from that to the noted licenses we've in court and does what on you found that that filing of filing service the our called, and that systems. on there license, our XXXX, again, it's the from license have OLSA as I years think in And Oracle's it. depositions testimony we're noted the some location think was just part his the license, no the he when stand on the all Oracle and court, not platform, of that respect database. database of do we Ellison, limitation it as we injunction think that From due that's to Head of she of seems took with point back that And stay, well. it's saw that didn't have a view, we physical even ascertain there mentioned the servicing in analysis our Oracle But was it believe component a systems so like right actually we why But that's that our just she about an error. the nothing talking to to error. were Oracle -- legal was on Oracle been relative that orders, there's

as our the mentioned of but and PeopleSoft we're filings support On can providing support, verbal see when is we side, most terms I the the provide noted, of issues. not in to giving responses we disclosures, support. limited from the taking that you questions, prohibited Remember,

PeopleSoft only provide. rest in general, environment used and things the in file regs. in and that still involve updates point service tax, what development to we tools of that decision, over tax, which to very able support legal use it's this of of the contained respectfully, product. legal around the general the issues, for of was much really again, was this regulatory whole on, Some respectfully it clients, point From The process we're a provide product. It's PeopleSoft coding. no issue there's the There's the we the with automated issues. disagree And court view, of

there's out, all a the that, a there's clarifications. couple And them, this mean for trying all to weeks going stage few in days. saying, was rhythms. we're Figuring that the to process And further these And years, that for understand people document, be has us the see Findings and additional don't might now. us XX to do. what seek as is we're we out come to that relief in them, are analyze seen appropriate through as will I seeking court we That's take just go appeals from out I the hopefully, now further court we of the first or X together, does do. the litigation is think on XXX-page after digesting we're weeks. think clarity next so what you've from telling We'll court even Those hopefully put communication, think this illegal that soon. court we we are clarification we things work get need

Operator

comes question next with Cowen. from The Wood Derrick TD

Derrick Wood

Thanks, Derrick. verticals, are geos, these QX? These displaced? deals, Or can were And earlier on who were expected? on for in types guys. expected you big It's to say Andrew you of customers, or the than close Anything they Seth, impressive. later

Seth Ravin

Well, good nicely. target. on again, they -- even actually We figure the through question. on were did mentioned, another we felt I time. right Again, as close moved They were we They pipeline progressing X was this morning, since move so mix global. to again, many Those that continuing think, was reboot court were even ANZ. the Americas, America. we're Europe of bit of globally. getting we're the continuing sales I to We're all the South ruling. the close deals making forward deals even business And struggling, across It's ANZ the world. We're as of strong QX better impressive on a a position itself But back changes for from sellers, sales and a management, EMEA reboot and marketing including We're right to bit into a seeing a now again, mentioned, with and, still global contribution. Asia good I management. with around

position important most through and what's walk into the to is it we're think I and go-to-market really and sellers deals the portfolio bigger be sales able it moving strategy, start this seeing to pipe. start and the talk

sales again that pretty time aggressively. maturing what's the us I regrowing start that's team a think, and it's again, confidence giving we're to bit the quite

Derrick Wood

great. it XX. to by And did to reps, the Yes, you that's get XX -- on say you expect sales I when missed

Seth Ravin

XX sales it's done love mean XX a you and never honestly have the hire know sellers but in place. will to would we're massive to a the that's period what lot changing we even we've XX programs year, reps, Well, challenge. putting to We're special the a to of I nature from of before, of and by time time in who I going end hire be like we're hiring.

them the the easier to direction of to going They XX bring of think our that to add see We I XX-year. over will we year sell be traditionally to do we're we than of changed a from companies done greatly to want a increase lot our managed the career massive to a XXX XX-plus those support. they think outsourcing, that people move bolster in we think the their sales to sell what you was shape other sellers have have this a AMS out that help we and can service who people, good Rimini with in it's the which We been pool want and opposite and structure, full more licensed in specifically, a have of and sellers sale them to tech in to very because we them sell in because instead our changing We services. new to and their a who similar of wanted to the past reps the from complicated way combination we train reps. people more way selling train service on. the that train in the actually have little better and than we We we were that mix how them grow sell. them career profile complexity. customers little already earlier into a as going doing can AMS is that sell of People We profile what hired hiring who than we're the sell. proven a to skills, sales services hiring in bit to thing the a that ability will in other in that they've go that's the in have positive that tried their and how support we're revenue get a we do, people know shape hiring come in much to of base. is opportunity so junior XXXX. a hiring bring to effect we want them where license, even tenure that different to and is they team the believe think and the want have we've changing And will the whole of that of background, to we We so different think We're and grow AMS salesforce AMS from

Derrick Wood

Yes, that makes sense.

had just On the guess you're regions through international one bit of past working of the kind what Europe. that stronger in talked you couple about, of years. little Maybe I kind issues of on you Europe the more for a been expand

Seth Ravin

through. separate always Yes, have is, you it it's said why execution to and I through out. It's really

not demand you then product answer demand appreciate the The I the is If have not the both them, the or market does the is, in demand appropriate is market think a problem, for markets. fine.

aggressive to we perspective, able think problem not of we're my happen, pockets management a within I marketplace. have sell had to do not EMEA. from the some the of enough do who these success fast being enough issues the portfolio. adapting in and were with full And we And

in structure the around in both good There much other reboot making course, even haven't we the do For work be on deals the in team. successful. that But that that done avoid as hasn't pretty is and Southern building in Israel region. we've we not sales people as find The we'd region. doing Europe Dutch smaller. well reboot the doing well, had business We're there just the up put because as example, And Southern region. selling it France strong. is countries in been smaller some as a and very as of into German but We've European, Nordics, We're a do full didn't tend like. the of the leadership some is the that return are the very successful. we much stronger on in not ANZ, investment opportunistically, motion the going said, we restructuring ASPs and of but we to some EMEA we well

Operator

comes next with Kinstlinger Global Brian The Alliance question from Partners.

Unidentified Analyst

Or I the follow-up. is release wanted marketing PeopleSoft? going forward? related just press quick the more one both and just to it clarity some Is on it Just and statements appeal. the PeopleSoft

Seth Ravin

What intent us done as is the me the Well, gave telling we that first findings. what the The we us an and file And what can court really injunction. of filed gave so an with let do. to far appeal clarify confusing. of injunction, order I far, separately get court so so on we the court a because have findings filed court know both all, well court notice us just their this our of as of on is to have appeal an we've the appeal a

So notice a to that our was intent it's only appeal. number one that we filed. But of

actually haven't an filed We yet. appeal

we because We a -- there's could hope and it through us what to you even to that. Y we it challenges the will the months. if the time respond was it Once and on is emergency doesn't, back Y laying if deal do need It There process, briefing wind process emergency. them take serious these with then weeks. you give the no Z, to the weeks, this she for the have problems timeline That's do We could to a court we take to court take potentially for even we next take There And while thing get Circuit, here's an X, want because order motion through not that all stay, findings. stay on the them we're injunction an an challenges asked of this it Xth get will about. is that's then that's are the And even injunction, XXth. the being or doesn't stay, it. and which any with is any saw want we what says most is second The we and here's and it has right standing Xth will may we with us everything the to said, example, on important are we But same motion the saying, of by. us with really the now what do. if not emergency to agree the to time, thing We're all doesn't and we're her do, comply appeal go X, to motions agree to with of Circuit. Because we're at court with because what important or responding And Z. and we the do asked with issues, and agree to questions. file you file then may of the filed out that. up thing and there's

and something so we to that's everyone through, And need keep we'll that just get apprised of course.

out. You'll filings as see the go they

keep years. We our this but course will been and we've something at doing that's with XX are customers we apprised any of for impacts, where

normal For business. course of a kind us, it's of

Unidentified Analyst

that on ruling those release awaiting will to need you're motion that your go or press on motions, on still While website? up

Seth Ravin

and issuing Hopefully, Well, court to again, asked bridges an we'll up before bridge the we'll we had and injunction, do. with that answer XX days when these after point time, what But in then cross will us days. XX we'll The they we then. court come. to cross the put have what in now the that's of court work to between with this court's up at come see again, decides and the can that order

Operator

call show closing to this Ravin, over Seth the remarks. back further would now for I at questions time. no CEO, turn I to like

Seth Ravin

we in file 'XX were when we done Street have as for of all day. Thank who get and deal you. events are quarter. to for And to in the to around deal additional death what want to with we easy. at lastly, to of with their our drastic of just second to to opportunity time auditors far calls lot than Rimini Look clock filing everybody. relating subsequent you lucky issues believe people in rest will not it's update joining Appreciate of the matters. and these as all me, I earnings I events of way the and thank in are. getting I Thank with us a a goes make care. take our we have live everyone always our how the every forward all on want appropriate, sure second great able today. And on Take more colleagues and remind subsequent us course, And thank and quarter was market who life updates the call. the course, efforts again KPMG like to all thank to we worked these the litigation folks. we I place there schedule. this you, in harm's And world for follow-up get

Operator

Thank This today's concludes call. for you participating. conference

disconnect. You may now

Rimini Street (RMNI) 2 Aug 232023 Q2 Earnings call transcript