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LAS VEGAS - Brazilian pharmaceutical manufacturer Apsen Farmacêutica has collaborated with Rimini Street, Inc. (RMNI) and ServiceNow to enhance its enterprise resource planning (ERP) system. With a market capitalization of $301 million and annual revenue of $426 million, Rimini Street has established itself as a significant player in enterprise software services. According to InvestingPro data, the company maintains a healthy gross profit margin of 61%. The integration of ServiceNow’s technology over Apsen’s existing SAP ECC 6 ERP platform is designed to foster workflow automation and operational efficiency without the need for costly migration to SAP S/4HANA.
Three years ago, Apsen Farmacêutica embarked on an IT transformation journey, adopting a ’Make, Buy or Blend’ strategy to connect its systems and reduce vendor dependency. With SAP’s support for ECC 6 ending in 2027, Apsen faced a decision to either upgrade to S/4HANA or reimagine its current system. The partnership with Rimini Street allowed Apsen to modernize its ERP with ServiceNow, avoiding the disruption of a full migration. Rimini Street’s strategic approach has contributed to its impressive market performance, with InvestingPro data showing a remarkable 70% price return over the past six months. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Seth Ravin, CEO of Rimini Street, expressed pride in helping Apsen redirect savings from avoiding an upgrade to fund innovation. The company reported immediate benefits, including streamlined processes and reduced operating costs.
Peter Russo, Vice President at ServiceNow, highlighted the value Apsen realized shortly after project commencement. He noted that enterprise software upgrades often fail to deliver strong return on investment compared to innovation.
Rimini Street’s solution includes replacing vendor support for ERP, which can reduce support costs by up to 90% and extend software lifespans for at least 15 years without mandatory upgrades. The approach leverages ServiceNow’s platform to create a unified view of the organization, automate tasks, and enhance user experience.
Apsen’s CIO, Renan Santos, detailed the positive outcomes of the partnership, including a 70% reduction in manual process requirements, faster development cycles, and increased organizational autonomy. The company plans to extend this automation to other critical processes.
This information is based on a press release statement from Rimini Street, Inc. InvestingPro analysis indicates that Rimini Street is currently undervalued, with analysts projecting profitability this year. The platform offers 8 additional key insights about RMNI’s financial health and market position through its comprehensive Pro Research Report, helping investors make more informed decisions.
In other recent news, Rimini Street Inc. reported its first-quarter 2025 earnings, revealing a revenue of $104.2 million, slightly exceeding the forecast of $103.26 million. However, the company missed earnings per share (EPS) expectations, posting $0.04 against a forecast of $0.07. Despite the EPS miss, Rimini Street saw a 7.2% increase in billings year-over-year, reaching $79.4 million, which indicates growth in their subscription and professional services sectors. The company’s gross margin improved to 61% from 59.8% year-over-year, showing enhanced operational efficiency. Rimini Street continues to focus on strategic partnerships, notably with ServiceNow, expecting significant contributions by 2026. The company also announced new partnerships with Valley Cyber, Workday, and T-Systems North America to expand its service offerings. Rimini Street has suspended formal guidance due to ongoing litigation with Oracle, which remains a significant concern. Despite these challenges, the company is optimistic about future growth opportunities, particularly in the U.S. Federal government market.
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