LiveRamp Holdings, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>LiveRamp Holdings, Inc. (RAMP) filed its Q3 2023 10-Q report, detailing financial positions and historical company information.</b>

AI Summary

LiveRamp Holdings, Inc. (RAMP) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. LiveRamp Holdings, Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023. The filing covers the period from October 1, 2023, to December 31, 2023, and the year-to-date period from April 1, 2023, to December 31, 2023. Comparative financial data for the periods ending December 31, 2022, and March 31, 2023, are included. The company was formerly known as Acxiom Holdings, Inc. and Acxiom Corp. The filing includes details on common stock, additional paid-in capital, retained earnings, accumulated other comprehensive income, and treasury stock as of various dates.

Why It Matters

For investors and stakeholders tracking LiveRamp Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of LiveRamp Holdings, Inc. for the third quarter of fiscal year 2023. Understanding the company's financial health and historical context, including its former names, is crucial for evaluating its current market standing and future prospects.

Risk Assessment

Risk Level: low — LiveRamp Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which is a routine disclosure for publicly traded companies and does not contain unexpected or significant negative information.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to assess LiveRamp's performance and financial health for Q3 2023.

Key Numbers

• 2023-12-31 — Period End Date (Reported period end)
• 2024-02-08 — Filing Date (Date the report was filed)
• 2023-03-31 — Fiscal Year End (Company's fiscal year end)
• 2018-09-20 — Name Change Date (Date of former name change to LiveRamp Holdings, Inc.)

Key Players & Entities

• LiveRamp Holdings, Inc. (company) — Filer name
• Acxiom Holdings, Inc. (company) — Former company name
• ACXIOM CORP (company) — Former company name
• CCX NETWORK INC (company) — Former company name
• 20231231 (date) — Period of report
• 20240208 (date) — Filed as of date

Forward-Looking Statements

• LiveRamp will continue to manage its capital structure through share repurchases or other equity adjustments. (LiveRamp Holdings, Inc.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

LiveRamp operates in the data enablement and identity solutions sector, providing services for data connectivity and identity resolution.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies like LiveRamp Holdings, Inc.

What Investors Should Do

1. Analyze the balance sheet data for common stock, additional paid-in capital, retained earnings, and treasury stock as of December 31, 2023.
2. Compare the financial data presented for the Q3 2023 period with the corresponding periods in 2022.
3. Note the historical company name changes to understand the corporate lineage of LiveRamp Holdings, Inc.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-02-08: Filing Date — Date LiveRamp Holdings, Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This filing provides the latest quarterly financial data for LiveRamp Holdings, Inc., updating the information from previous filings.

Filing Documents

• ramp-20231231.htm (10-Q) — 1314KB
• a2024q3ex101amendedandrest.htm (EX-10.1) — 86KB
• a2024q3ex311ceosection302c.htm (EX-31.1) — 11KB
• a2024q3ex312cfosection302c.htm (EX-31.2) — 11KB
• a2024q3ex321ceosection1350.htm (EX-32.1) — 5KB
• a2024q3ex322cfosection1350.htm (EX-32.2) — 5KB
• ramp-20231231_g1.jpg (GRAPHIC) — 131KB
• 0000733269-24-000007.txt (&nbsp;) — 8170KB
• ramp-20231231.xsd (EX-101.SCH) — 59KB
• ramp-20231231_cal.xml (EX-101.CAL) — 88KB
• ramp-20231231_def.xml (EX-101.DEF) — 244KB
• ramp-20231231_lab.xml (EX-101.LAB) — 735KB
• ramp-20231231_pre.xml (EX-101.PRE) — 494KB
• ramp-20231231_htm.xml (XML) — 1134KB

Forward-looking Statements

Forward-looking Statements 3

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 6 Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and March 31, 2023 6 Condensed Consolidated Statements of Operations for the three months and nine months ended December 31, 2023 and 2022 (Unaudited) 7 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months and nine months ended December 31, 2023 and 2022 (Unaudited) 8 Condensed Consolidated Statements of Equity for the three months and nine months ended December 31, 2023 (Unaudited) 9 Condensed Consolidated Statements of Equity for the three months and nine months ended December 31, 2022 (Unaudited) 10 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2023 and 2022 (Unaudited) 11 Notes to Condensed Consolidated Financial Statements 13 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.

Controls and Procedures

Controls and Procedures 45

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 48 Signature 49 2

Forward-looking Statements

Forward-looking Statements This Quarterly Report on Form 10-Q, including, without limitation, the items set forth beginning in the Management's Discussion and Analysis of Financial Condition and Results of Operations, contains and may incorporate by reference certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the "PSLRA"), and that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the PSLRA. These statements, which are not statements of historical fact, may contain estimates, assumptions, projections and/or expectations regarding the Company's financial position, results of operations, market position, product development, growth opportunities, economic conditions, and other similar forecasts and statements of expectation. Forward-looking statements are often identified by words or phrases such as "anticipate," "estimate," "plan," "expect," "believe," "intend," "foresee," or the negative of these terms or other similar variations thereof. These forward-looking statements are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause the Company's actual results and experiences to differ materially from the anticipated results and expectations expressed in the forward-looking statements.

Forward-looking statements may include but are not limited to the following

Forward-looking statements may include but are not limited to the following: management's expectations about the macro economy and trends within the consumer or business information industries, including the use of data and consumer expectations related thereto; our expectations regarding laws, regulations and industry practices governing the collection and use of personal data; our expectations regarding the impact of the Inflation Reduction Act of 2022 and other tax-related legislation on our tax position; our estimates, assumptions, projections and/or expectations regarding the Company's annualized future cost savings and expenses associated with the announced reduction in force and real estate footprint reduction; Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in such forward-looking statements are the following: the risk factors described in Part I, "Item 1A. Risk Factors" included in the Company's Annual Report on Form 10-K for the f

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands) December 31, March 31, 2023 2023 ASSETS (unaudited) Current assets: Cash and cash equivalents $ 498,946 $ 464,448 Short-term Investments 32,264 32,807 Trade accounts receivable, net 199,383 157,379 Refundable income taxes, net 1,143 28,897 Other current assets 37,926 31,028 Total current assets 769,662 714,559 Property and equipment, net of accumulated depreciation and amortization 8,202 7,085 Intangible assets, net 4,180 9,868 Goodwill 360,227 363,116 Deferred commissions, net 44,172 37,030 Other assets, net 38,298 41,045 $ 1,224,741 $ 1,172,703 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 88,797 $ 86,568 Accrued payroll and related expenses 47,398 33,434 Other accrued expenses 42,600 35,736 Deferred revenue 29,957 19,091 Total current liabilities 208,752 174,829 Other liabilities 69,499 71,798 Commitments and contingencies (Note 14) Stockholders' equity: Preferred stock — — Common stock 15,542 15,399 Additional paid-in capital 1,909,370 1,855,916 Retained earnings 1,319,545 1,302,291 Accumulated other comprehensive income 4,508 4,504 Treasury stock, at cost ( 2,302,475 ) ( 2,252,034 ) Total stockholders' equity 946,490 926,076 $ 1,224,741 $ 1,172,703 See accompanying notes to condensed consolidated financial statements. 6 LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollars in thousands, except per share amounts) For the three months ended For the nine months ended December 31, December 31, 2023 2022 2023 2022 Revenues $ 173,869 $ 158,615 $ 487,809 $ 447,957 Cost of revenue 44,934 43,287 131,767 126,612 Gross profit 128,935 115,328 356,042 321,345 Operating expenses: Research and development 37,788 43,175 106,040 136,975 Sales and marketing 46,203 47,702 135,217 144,931 General a

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View this 10-Q filing on SEC EDGAR