Rimini Street, Inc. (NASDAQ: RMNI) announced a new expansion of its partnership with Lwart Environmental Solutions, a leading oil re‑refinery and industrial sustainability organization, to include VMware support in addition to the existing SAP support. The announcement was made on March 17, 2026 and gives Lwart direct control over its software licensing, upgrade, and technology roadmap decisions for both SAP and VMware, eliminating vendor‑driven timelines and cost escalation.
Lwart Environmental Solutions processes 240 million liters of used oil annually and relies on SAP and VMware systems to manage nationwide logistics and operations for 1,100 users. By consolidating support for both platforms with Rimini Street, Lwart aims to lower operating costs and allow its IT organization to focus on operational improvements and long‑term innovation.
Rimini Street’s recent financial performance provides context for the partnership. In Q4 2025 the company reported revenue of $109.8 million, a 3.9% year‑over‑year decline, and full‑year 2025 revenue of $421.5 million, down 1.7% YoY. Annualized recurring revenue fell 0.8% YoY to $411.4 million, and Q4 net income was $724,000, or $0.01 per share, compared with $0.07 per share in the prior year’s Q4. The decline was partly attributed to the wind‑down of PeopleSoft support services following a settlement with Oracle.
The expansion into VMware support was accelerated by Broadcom’s acquisition of VMware, which introduced licensing changes that could nearly triple costs for customers. Lwart’s decision to partner with Rimini Street was driven by the need to regain control over its IT roadmap and avoid forced upgrades, while Rimini Street’s strategy is to capitalize on the market disruption caused by Broadcom’s changes.
Seth Ravin, CEO of Rimini Street, said, "Our fourth quarter results reflect solid execution and continued accelerating sales growth, adjusted for the Oracle PeopleSoft support and services wind down. We grew our core Rimini Support™ subscription billings and launched our next generation Agentic AI ERP solutions…" He added, "We have positioned the company as a bridge between existing traditional ERP software infrastructure and the capability and benefits of modern AI innovation, expecting subscriptions for both Rimini Support and new AI service offerings to drive 2026 growth."
Michael Perica, CFO of Rimini Street, noted, "Our fourth quarter results exceeded the guidance range we communicated at our Investor Day and demonstrate continued positive momentum entering 2026. We invested in the development and launch of new AI‑based solutions, streamlined global operations, achieved new RPO records in both the third and fourth quarters with increased year‑over‑year and sequential growth, increased our net cash year over year and ended fiscal year 2025 with a strong balance sheet and cash position."
The partnership expansion aligns with Rimini Street’s broader strategy to offer third‑party support for enterprise software in the wake of vendor changes, and it positions the company to capture new revenue streams from VMware customers while continuing to grow its AI initiatives. For Lwart, the deal is expected to reduce costs associated with licensing and upgrades, allowing the organization to reallocate resources toward innovation and operational efficiency.
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