Liveramp Holdings Inc (RAMP)
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For six years LiveRamp posted losses. Then came the record year: $812.9 million in revenue, $83.5 million in operating income, $166.4 million in free cash flow. Three weeks before those numbers were published, the board signed the company over to France's Publicis Groupe for $38.50 per share in cash. Read the filings with the U.S. securities regulator, the SEC, and two facts stand next to each other: almost a third of the record $146.0 million profit came from a $46.7 million tax benefit, and the entire operating income matches stock-based compensation of $83.0 million almost dollar for dollar. Not investment advice — just the question of what you are buying when the share price sits glued to an offer price.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
Uses AILiveRamp baut KI in die eigene Plattform ein — sie ist laut Geschäftsbericht 2026 für den Zugriff durch KI-Agenten ausgelegt und mit den KI-Modellen der Kunden interoperabel —, weist aber keinen eigenen KI-Umsatz und kein KI-Produkt als Erlösquelle aus; der Umsatz zerfällt in Abonnement (614,4 Mio. US-Dollar) und Marktplatz/Sonstiges (198,6 Mio.).
View the full file — quotes, sources, reviewed filings
„Our platform is engineered for AI agent accessibility, facilitating autonomous data collaboration between the specialized AI agents utilized by our customers and partners and our networked platform."
Unsere Plattform ist auf den Zugriff durch KI-Agenten ausgelegt und ermöglicht die selbsttätige Datenzusammenarbeit zwischen den spezialisierten KI-Agenten unserer Kunden und Partner und unserer vernetzten Plattform.
„Our platform is configured to be interoperable with the AI models, applications and agents that our customers and partners are deploying to derive marketing outcomes more effectively and efficiently."
Unsere Plattform ist so eingerichtet, dass sie mit den KI-Modellen, -Anwendungen und -Agenten zusammenarbeitet, die unsere Kunden und Partner einsetzen, um Marketing-Ergebnisse wirksamer und effizienter zu erzielen.
„Furthermore, the expected benefits from the utilization of technological innovations (including AI) may not be realized as soon as expected or at all."
Darüber hinaus treten die erwarteten Vorteile aus dem Einsatz technischer Neuerungen (einschließlich KI) womöglich nicht so früh wie erwartet oder gar nicht ein.
Filings Reviewed: 10-K 2026-05-21 · 10-Q 2026-02-05 · 10-Q 2025-11-05 · 10-Q 2025-08-06 · 10-Q 2025-02-05 · 10-K 2025-05-21
Rated on July 27, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.17 | -19.00 | 195 | 12.40 | 5.70 | 48 | 47 |
| 2025: Q1 | -0.09 | – | 189 | 9.80 | -3.30 | 62 | 62 |
| 2025: Q2 | 0.12 | – | 195 | 10.70 | 4.00 | -16 | -16 |
| 2025: Q3 | 0.42 | 1,519.90 | 200 | 7.70 | 13.70 | 57 | 57 |
| 2025: Q4 | 0.62 | 272.40 | 212 | 8.60 | 18.80 | 67 | 67 |
| 2026: Q1 | 1.12 | – | 206 | 9.20 | 34.40 | 60 | 60 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
A $180.9 million operating loss in fiscal 2020 became $83.5 million of operating income in fiscal 2026; $380.6 million of revenue became $812.9 million. Operating margin rose from 0.7 percent to 10.3 percent and free cash flow to $166.4 million. Annualized recurring revenue $545 million, net retention 107 percent (March 31, 2026).
Net income of $146.0 million rests on pre-tax income of $98.1 million: $46.7 million arrived as a tax benefit from a valuation allowance release (effective rate negative 47.6 percent), almost entirely in the closing quarter of fiscal 2026. Only $20.6 million of allowance remains — the effect will not repeat.
Stock-based compensation of $83.0 million almost exactly equals operating income of $83.5 million; three quarters of the $32.9 million cost decline came from that line. Since 2011, 48.6 million shares have been repurchased for $1.2 billion while 54.0 million shares stand reserved for the equity plans — buybacks as dilution repair.
No financial debt, $379.5 million in cash, $972.0 million of equity, an equity ratio of 75.1 percent (March 31, 2026); interest income of $14.8 million against $32 thousand of interest expense. Piotroski F-score 7 of 9, Altman Z 12.55 (data as of July 24, 2026). The drag: $502.1 million of goodwill, 38.8 percent of total assets.
Publicis is offering $38.50 in cash (about 30 percent above $29.66 on May 15, 2026). Outstanding are approval by two thirds of all outstanding shares on August 17, 2026, antitrust clearances and CFIUS review — no formality for a U.S. data business bought by a French group. On July 1, 2026 the price stood at $37.68, 2.1 percent below the offer.
The value range calculated by adviser Evercore runs from $33.83 to $49.38 per share; the offer sits in the lower third. Five executives stand to receive $82.7 million in connection with the sale, more than twice the $32.35 million termination fee; the chief executive has already signed on with Publicis for the period after closing.
LiveRamp is the finish-line trap in its purest form: a company that genuinely completed its turnaround — $812.9 million of revenue, $83.5 million of operating income, $166.4 million of free cash flow in fiscal 2026, without a dollar of debt — but whose reward was handed out on May 16, 2026, when Publicis offered $38.50 per share in cash. What is bought today is therefore not a business but a wager on two-thirds approval on August 17, 2026 and on antitrust and CFIUS clearances, paid at a gap of just over 2 percent to the offer. Anyone still valuing the company as a company must set two figures side by side: $46.7 million of the $146.0 million net income came from a one-off tax benefit, and the entire operating income of $83.5 million matches stock-based compensation of $83.0 million almost dollar for dollar. Not investment advice.
- LiveRamp reached our research list through our in-house stock scanner for turnaround candidates (U.S. selection). Important for context: the turnaround check produced 6 of 8 points — 44 of the 60 U.S. hits score the same, and that tied group shares ranks 17 through 60. Only the 25 strongest hits are displayed, and LiveRamp is not among them. An exact rank would be a random number at that level of ties. A second hit sits on the Altman Z balance-sheet fortress list. Both lists are recomputed daily (measured July 27, 2026).
- The data basis is the annual report 10-K for fiscal 2026 (filed May 21, 2026, the most recent periodic report), the quarterly report 10-Q as of December 31, 2025, the merger proxy DEFM14A of July 6, 2026 and the 8-K filings of May 18, 2026 and July 20, 2026. Market data as of July 24, 2026. The share count comes from the most recent document that states one (60,786,315 as of the June 18, 2026 record date); the cross-check of share count times documented price ($37.68 on July 1, 2026) confirms market capitalization of roughly $2.29 billion.
- Risk of confusion: LiveRamp Holdings was named Acxiom Corporation until September 2018 — the SEC identifier (CIK 0000733269) and therefore the time series are continuous. Not to be confused with Ramp Business Corporation, a privately held spend management provider. The fiscal year ends March 31, so fiscal 2026 largely covers calendar 2025.
About the Company
LiveRamp Holdings, Inc., ein Technologieunternehmen, betreibt eine Datenkollaborationsplattform in den USA, Europa, im asiatisch-pazifischen Raum und international.
| Employees | 1,300 |
|---|---|
| Headquarters | San Francisco, CA |
| Website | liveramp.com |
| IPO Date | 1. Jan 1987 |
| Next Earnings | 5. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Scott E. Howe | CEO & Director | 1968 |
| Lauren Russi Dillard | Executive VP & CFO | 1987 |
| Gerald C. Jones Esq., J.D. | Executive VP, Chief Ethics & Legal Officer and Secretary | 1956 |
| Vihan Sharma | Chief Revenue Officer | 1979 |
| Janet Cinfio | Chief Information Officer & Senior VP | – |
| Drew Borst | VP & Head of Investor Relations | – |
| Jessica Shapiro | Chief Marketing Officer | – |
| Stephanie Boman | Chief People Officer | – |
| David Eisenberg | Chief Strategy Officer | – |
| Travis Clinger | Chief Connectivity & Ecosystem Officer and GM of International | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 27, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.