LiveRamp Conference Call Summary Company Overview - **Company**: LiveRamp (NYSE:RAMP) - **Revenue**: Approximately $800 million - **Business Focus**: Data collaboration platform, working with major clients like Meta, Google, and Trade Desk, with a growing emphasis on AI applications [6][12][22] Key Themes and Insights AI Integration - **AI Impact**: AI is significantly influencing consumer behavior and marketing practices, shifting interactions from traditional search engines to AI-driven platforms like ChatGPT [10][11] - **Data Requirement**: Effective AI applications require robust data, particularly first-party and second-party data, which LiveRamp specializes in providing [12] - **AI Partnerships**: LiveRamp has over 20 active AI partners, with a third being new AI companies, indicating a shift towards AI-driven decision-making in advertising [18][19] Data Marketplace Expansion - **Marketplace Growth**: The Data Marketplace has been growing in the high teens and now represents about 20% of total revenue [22] - **AI Models and Training Data**: LiveRamp is expanding its Data Marketplace to include AI model licensing and training data, positioning it as a central hub for AI-enabled marketing [23][24] Clean Room Adoption - **Importance of Clean Rooms**: Clean rooms are essential for data collaboration, especially in AI, as they protect sensitive data and facilitate partnerships [25][26] - **Market Demand**: The demand for clean rooms has increased due to concerns over data security and privacy, particularly in AI applications [25][26] CTV and Cross-Media Intelligence - **CTV Growth**: Connected TV (CTV) is becoming a significant revenue driver, with TV data sales representing 20%-25% of data volume in the Data Marketplace [28] - **Cross-Media Intelligence**: This capability is gaining traction as it allows marketers to measure and optimize their advertising efforts across multiple platforms [30][31] Pricing Strategy - **Shift to Usage-Based Model**: LiveRamp is transitioning from fixed subscriptions to a usage-based pricing model, which is expected to reduce friction for existing customers and attract new clients [33][34] - **Customer Acquisition**: The new pricing model has led to an increase in net new customers, particularly among mid-sized brands and media platforms [35][36] Market Potential - **Total Addressable Market (TAM)**: LiveRamp estimates a current TAM of $13 billion in data collaboration for advertising, with potential growth to $35 billion as AI usage increases [37] - **Growth Drivers**: The company anticipates that AI will accelerate data usage, benefiting its usage-based pricing model and overall growth trajectory [37] Operational Efficiency - **Margin Expansion**: LiveRamp aims for four points of margin expansion in the current year, driven by cost efficiencies and AI integration [40][43] - **Rule of 40 Goal**: The company is targeting a return to the Rule of 40 by fiscal 2028, focusing on subscription revenue growth and customer acquisition [39][43] Strategic Partnerships - **Publicis Partnership**: LiveRamp is expanding its partnership with Publicis to enhance platform integration, which could lead to further growth through partner-driven sales [47][50] Industry Challenges and Resilience - **Execution Challenges**: As LiveRamp expands into new verticals like healthcare, it faces challenges related to data governance and regulatory compliance [52] - **Resilience Factors**: The company's ability to simplify complex data challenges has been a key factor in its resilience amid industry disruptions [54][55] This summary encapsulates the critical insights and strategic directions discussed during the LiveRamp conference call, highlighting the company's focus on AI integration, marketplace expansion, and operational efficiency.

Core Viewpoint - LiveRamp Holdings Inc. is identified as a strong growth stock for the next 20 years despite a recent downgrade in price target by DA Davidson from $45 to $35 while maintaining a Buy rating [1] Financial Performance - In FQ3 2026, LiveRamp reported a revenue growth of 9% year-over-year, reaching $212 million [2] - The company provided a full-year revenue guidance range of $810 million to $814 million [3] Strategic Developments - Management highlighted a significant strategic partnership with Publicis and the expansion of its Data Marketplace to include AI models and agents, positioning the firm for potential double-digit growth in fiscal year 2027 [2] Operational Insights - The company is successfully growing its high-value million-dollar-plus accounts, but subscription net retention has compressed to 101% [3] - Gross margins are expected to dip slightly as backend platform upgrades conclude [3] - A sequential increase in operating expenses of $15 million is projected for FQ4 due to seasonal events and compensation adjustments [3]

Core Viewpoint - LiveRamp is set to release its fiscal 2026 second quarter financial results on November 5, 2025, after market close, followed by a conference call to discuss the results [1] Company Overview - LiveRamp is a leading data collaboration technology company that empowers marketers and media owners to enhance and measure marketing performance across various platforms [3] - The company’s data collaboration network integrates data from advertisers, platforms, publishers, data providers, and commerce media networks, providing deep insights and driving measurable growth [3][4] - LiveRamp operates on principles of neutrality, interoperability, and global scale, enabling organizations to maximize data value and foster innovation [4] Conference Call Details - The conference call to discuss the financial results will take place at 1:30 p.m. PT on the same day as the results release [1] - Access to the conference call will be available via telephone at (888) 596-4144 or (646) 968-2525, with the conference call ID being 8084681 [2]

Group 1 - LiveRamp Holdings Inc. is recognized as a promising growth stock, particularly following the introduction of new AI capabilities on October 1, which include agentic tools, segmentation, and search functionalities [1][3] - The company is the first to provide autonomous AI agents with governed access to its data collaboration network, facilitating secure and intelligent data collaboration at scale [2] - New agentic orchestration allows marketers to connect their own or partner agents via APIs, enabling faster and more informed decision-making through controlled access to LiveRamp's identity and insights from 900 partners [3] Group 2 - LiveRamp operates a data collaboration platform across the US, Europe, Asia-Pacific, and internationally, indicating its broad market presence [4]

Company Announcement - LiveRamp will release its fiscal 2025 fourth quarter and full year earnings on May 21, 2025, after market close [1] - A conference call to discuss the results will take place on the same day at 1:30 p.m. PT [1] Conference Call Details - The conference call can be accessed via telephone at 800-715-9871 in North America or +1-646-307-1963 outside North America, with the conference call ID being 5079298 [2] Company Overview - LiveRamp is a leading data collaboration technology platform that empowers marketers and media owners to enhance and measure marketing performance [3] - The platform unites data across various stakeholders, unlocking insights and driving growth [3][4] - LiveRamp is recognized for its strict neutrality, interoperability, and global scale, helping organizations maximize data value and accelerate innovation [4]