RAMP Share Price Rises More Than 10% Before Market: Why It Happened
- LiveRamp Holdings Inc’s (NYSE: RAMP) share price has risen more than 10% before market. That’s why it happened.
LiveRamp Holdings Inc’s (NYSE: RAMP) share price has risen more than 10% before market. Investors are responding positively to the company’s financial results for the quarter ended June 30, 2021.
First Quarter Financial Highlights:
– Total revenue was $ 119 million, up 20% from the same period last year.
– Subscription revenues were $ 97 million, up 16% from the same period last year and contributed 81% of total revenues.
– Marketplace & Other’s revenue was $ 23 million, up 36% from the same period last year.
– GAAP gross margin was $ 85 million, up 30% from the same period last year. 71% GAAP gross margin increased 6 percentage points. Non-GAAP gross margin was $ 90 million, up 27% from the same period last year. 76% non-GAAP gross margin increased 4 percentage points.
– The GAAP operating loss was $ 18 million compared to a GAAP operating loss of $ 26 million for the period of the previous year. Non-GAAP operating income was $ 7 million compared to non-GAAP operating income of $ 1 million for the prior year period.
– GAAP earnings per share was $ 0.25 and non-GAAP earnings per share was $ 0.09. GAAP earnings included an investment gain of $ 30 million recorded in other income.
– Net cash used in operating activities was $ 17 million compared to net cash used in operating activities of $ 24 million in the prior year period.
– Cash and cash equivalents totaled $ 541 million debt free at quarter end.
– As of March 31, 2021, LiveRamp has repurchased 1 million shares for approximately $ 44 million as part of the ongoing share buyback program. Since the launch of the share buyback program in August 2011, the Company has returned approximately $ 1.2 billion in capital to shareholders.
LiveRamp’s non-GAAP guidelines exclude the impact of non-cash equity compensation, amortization of purchased intangibles, and restructuring costs.
For the second quarter of fiscal 2022, LiveRamp plans to report:
– Revenue of approximately $ 124 million, an increase of approximately 18% year-on-year
– GAAP operating loss of approximately $ 22 million
– Non-GAAP operating income of approximately $ 4 million
– For fiscal year 2022, LiveRamp increases its outlook and now plans to publish:
– Revenues of approximately $ 522 million, an increase of approximately 18% year-on-year
– GAAP operating loss of approximately $ 96 million
– Non-GAAP operating income of approximately $ 15 million
“Global businesses are increasingly looking to LiveRamp to fuel their customer data strategies and the momentum through our key expansion levers continues to grow. During the quarter, we added 30 new net customers and total revenue growth accelerated to 20%. Smart TV revenues have grown 80% and our global Safe Haven flywheel is accelerating. We now work with 30% of the big food and retail stores in the United States and 40% of the 50 largest consumer packaged products companies in the world.
– LiveRamp CEO Scott Howe
“Our first quarter results were strong and our trend lines are building. Revenue growth is accelerating, we achieved another strong book quarter and again delivered a record gross margin performance. On a non-GAAP basis, gross margin was 76% and we were profitable for the fifth consecutive quarter. “
– LiveRamp President and CFO Warren Jenson
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