LiveRamp (US:RAMP)2025-08-06 21:07Financial Performance - Revenues for the three months ended June 30, 2025, increased to $194.822 million, up 10.5% from $175.961 million in the same period of 2024[17] - Gross profit for the same period was $136.503 million, representing a gross margin of approximately 70.0%[17] - Net earnings for the quarter were $7.747 million, compared to a net loss of $7.489 million in the prior year, marking a significant turnaround[19] - Basic earnings per share for the quarter were $0.12, compared to a loss of $0.11 per share in the same quarter of 2024[17] - Total revenue for the three months ended June 30, 2025, was $194.822 million, an increase of 10.7% from $175.961 million in the same period of 2024[41] - Subscription revenue increased to $148.375 million in Q2 2025, up from $134.793 million in Q2 2024, reflecting a growth of 10.1%[41] - The company reported a comprehensive income of $9.551 million for the quarter, compared to a comprehensive loss of $7.561 million in the prior year[19] Assets and Liabilities - Total current assets decreased to $632.427 million from $656.189 million as of March 31, 2025[14] - Total current liabilities decreased to $222.384 million from $247.518 million as of March 31, 2025[14] - The company’s cash and cash equivalents decreased to $363.612 million from $413.331 million as of March 31, 2025[14] - The company’s total stockholders' equity as of June 30, 2025, was $947.812 million, slightly down from $948.859 million as of March 31, 2025[14] - Long-lived assets excluding financial instruments totaled $599.7 million as of June 30, 2025, down from $603.2 million as of March 31, 2025[100] Cash Flow and Operating Activities - The company experienced a net cash used in operating activities of $(15.821) million for the three months ended June 30, 2025, compared to $(9.328) million in the same period of 2024[27] - Cash and cash equivalents at the end of the period were $363.612 million, down from $413.926 million at the beginning of the period, reflecting a net change of $(50.314) million[29] Research and Development - Research and development expenses for the quarter were $39.608 million, down from $44.118 million in the same period last year[17] Stock Repurchase and Compensation - The company repurchased 1.1 million shares of common stock for $29.9 million during the three months ended June 30, 2025, with a total of 42.6 million shares repurchased for $1.1 billion under the program to date[39] - Stock-based compensation expense for the three months ended June 30, 2025 totaled $25,410 thousand, a decrease from $27,985 thousand in 2024[47] - The company granted 1,901,765 time-vesting restricted stock units (RSUs) with a fair value of $56.4 million during the three months ended June 30, 2025[51] - The total fair value of RSUs vested during the three months ended June 30, 2025 was $32.0 million[52] - The company has reserved a total of 51.5 million shares for stock-based compensation plans, with 4.8 million shares available for future grants as of June 30, 2025[45] Lease and Impairment Charges - Right-of-use assets decreased from $19,341 thousand on March 31, 2025 to $18,982 thousand on June 30, 2025, while total lease liabilities decreased from $36,290 thousand to $34,107 thousand[43] - The Company recorded combined impairment charges totaling $26.5 million for the twelve months ended March 31, 2024, and March 31, 2023, primarily due to the difference between existing lease terms and market rates[84] - The Company recorded a total of $7.9 million in restructuring charges related to a leased office facility, with $0.5 million recognized during the three months ended June 30, 2025[85] Tax and Market Risk - The Company maintains a full valuation allowance on its net deferred tax assets, with potential for release depending on future taxable income generation[90][91] - The Company is evaluating the impact of the 2025 Tax Act, which allows for immediate expensing of domestic R&D costs, on its future effective tax rate and tax liabilities[92][93] - No material changes in market risk exposures for the three months ended June 30, 2025, compared to the 2025 Annual Report[166]