RAMP earnings analysis
What we found in RAMP's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
LiveRamp reported robust fiscal 2026 results, with revenues reaching $812.9 million, a 9.0% growth year-on-year. The company saw an impressive turnaround to a net income of $145.9 million, driven by substantial improvements in revenue from both its subscription services and marketplace offerings, while simultaneously reducing operational costs. Notably, LiveRamp has entered into a merger agreement with Publicis Groupe, valued at $2.5 billion, which is expected to close by the end of the year, indicating strong strategic positioning within the industry.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- LiveRamp achieved total revenues of $812.9 million for FY 2026, a 9.0% increase from $745.6 million in FY 2025.
- Net Income Turnaround
- The company reported a net income of $145.9 million for FY 2026, up from a net loss of $0.8 million in FY 2025.
- Robust Subscription Revenue
- Subscription revenue grew to $614.4 million, an 8.0% increase from $568.9 million in FY 2025.
- Merger with Publicis Group
- LiveRamp entered a definitive agreement to be acquired by Publicis Groupe for $2.5 billion, enhancing market position.
- Free Cash Flow and Share Repurchases
- LiveRamp generated free cash flow of $167.8 million, with $194.4 million allocated to share repurchases during FY 2026.
- Improved Gross Margin
- The gross margin for FY 2026 was 70.7%, slightly down from 71.0% in FY 2025 but indicating strong operational efficiency.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Pending Acquisition Approvals
- The merger with Publicis is subject to regulatory approvals, posing risks of delays or changes in transaction terms.
- Foreign Currency Exposure
- The company highlighted risks in foreign currency exchange rates due to international operations, affecting future cash flows.
- Litigation and Regulatory Risks
- Ongoing legal challenges, including a class-action lawsuit, could lead to unforeseen liabilities impacting financial performance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.24
- Gross margin
- 70.7%
- Operating margin
- 10.3%
- Segment
- Subscription
- Segment
- Marketplace and Other
What they said about what is next.
No specific numeric guidance provided; the outlook is subject to the pending merger's completion.
The filing reads better than the one before it.
What came before.
- 10-Q · February 5, 2026
- LiveRamp Holdings, Inc. reported a strong performance for the quarter ended December 31, 2025, with revenues of $212.2 million, reflecting an 8.6% increase compared to the prior year. Net earnings surged to $39.9…
- 10-Q · November 5, 2025
- LiveRamp reported a solid Q3 FY2025 performance, with revenues reaching $199.8 million, an increase of 7.7% year-over-year. Gross margin decreased to 70.2% but operating margin saw a significant improvement,…
- 10-Q · August 6, 2025
- LiveRamp Holdings, Inc. reported a significant improvement in Q2 with revenue reaching $194.8 million, a 10.7% increase compared to the prior year. Gross margin slightly decreased to 70.1%, while net earnings surged to…
- 10-K · May 21, 2025
- LiveRamp Holdings, Inc. reported total revenues of $745.6 million for the fiscal year ending March 31, 2025, representing a 13.0% increase year-over-year. The company faced a net loss of $0.8 million, compared to net…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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