LiveRamp® (NYSE: RAMP), the trusted platform that makes data accessible and meaningful, announced its financial results for the first quarter ended June 30, 2019.
- Total revenue was $83 million, up 32% compared to the prior year period. Excluding the impact of Facebook, total revenue increased 39%. Subscription revenue was $68 million, up 33% and contributed 83% of total revenue. Marketplace & Other revenue was $14 million, up 27% compared to the prior year period. Excluding the impact of Facebook, Marketplace & Other revenue increased 76%.
- GAAP operating loss was $48 million compared to a GAAP operating loss of $30 million in the prior year period. Non-GAAP operating loss was $22 million compared to a nonGAAP operating loss of $6 million in the prior year period.
- GAAP loss per share from continuing operations was $0.61, and non-GAAP loss per share from continuing operations was $0.24.
- Net cash used in operating activities was $15 million compared to net cash used in operating activities of $2 million during the first quarter of fiscal 2019.
- Since March 31, 2019, LiveRamp repurchased 1.4 million shares for $69 million under the current stock repurchase program (including $49 million subsequent to June 30, 2019). Since August 2011, the Company has repurchased more than 35 million shares through its stock repurchase program and tender offer, representing over $1 billion in capital returned to shareholders.
- Cash and cash equivalents totaled $1 billion with no debt at quarter end.
“During the quarter, our customer value proposition once again increased,” said LiveRamp CEO Scott Howe. “We launched the Authenticated Traffic Solution to directly connect advertisers with publishers. In addition, with the acquisition of Data Plus Math, we’ve given our customers what they’ve been demanding – the ability to measure what matters in TV. LiveRamp’s neutral and safe choice for identity management is the industry standard.”
“This was another great quarter for LiveRamp,” said LiveRamp President and CFO Warren Jenson. “On a comparable basis, total revenue was up 39%, and our Marketplace & Other business grew 76%. We remain on track for a healthy and profitable FY21. Finally, we are walking the talk with our approach to capital allocation. We have balanced organic investment with a disciplined acquisition strategy while returning meaningful levels of capital to shareholders.”
About LiveRamp: LiveRamp provides the identity platform leveraged by brands and their partners to deliver innovative products and exceptional experiences. LiveRamp’s IdentityLink™ connects people, data, and devices across the digital and physical world, powering the people-based marketing revolution and allowing consumers to safely connect with the brands and products they love. For more information, visit www.LiveRamp.com.
Source: LiveRamp Earnings Release