LiveRamp Holdings, Inc.

LiveRamp Holdings, Inc.

Company description

LiveRamp is a data collaboration technology company that helps marketers and media owners deliver and measure marketing performance across channels. It operates a neutral, privacy-focused data collaboration platform that unifies first-, second-, and third-party data to create a single view of the customer. The platform is engineered to be interoperable with AI models, applications, and agents used by customers and partners.

Core platform and capabilities

LiveRamp Data Collaboration Platform provides four core capabilities:

• Live/Identity
  • Enterprise identity infrastructure that resolves disparate consumer identities into a connected view, including DII connections and a privacy-centric RampID
  • Supports offline data and online identifiers, including ATS-based linking
• Live/Access
  • Data Marketplace for access to third-party data providers and for data discovery, distribution, and governance
  • Supports over 225 data providers globally
• Live/Connectivity
  • Data onboarding and secure matching to connect customer data across ecosystems
  • Replaces PII with RampID and enables activations across marketing clouds, publishers, TV, and other platforms
  • Connects with a network of more than 500 partners
• Live/Insights
  • Clean room-based measurement and analytics to securely combine datasets for advertising measurement and cross-channel attribution

Other platform facts:

• Processes more than 4 trillion data records daily
• Marketplace data is connected via RampID to enrich first-party data and feed various platforms and environments

Revenue model and scale

• Primary revenue model: subscription-based, typically based on data volume and connections
• Data Marketplace and related services generate revenue through revenue-sharing with data sellers and usage-based arrangements with publishers and addressable TV providers
• Services revenue is under 5% of total revenue and comes mainly from bundled platform subscriptions and project work
• Approximately 76% of revenue is from annual or multi-year subscription arrangements
• Data Marketplace and usage-based subscription revenue are subject to seasonality and changes in advertising spend; marketplace revenue is recognized net of the data seller’s share

Customers and reach

• Direct subscription customers: 846 (fiscal year 2026)
• Large customers: 133 with subscription contracts exceeding $1 million in annual revenue (as of March 31, 2026)
• Customer concentration: the ten largest customers represented about 30% of revenues for the twelve months ended March 31, 2026; no single customer accounted for more than 10% of revenue in that period
• Also serves thousands of additional customers indirectly through partner and reseller arrangements

Geography and workforce

• Global footprint across the United States, Europe, and APAC with offices in multiple locations
• International revenue: approximately 6% of revenues from outside the United States for the twelve months ended March 31, 2026
• Employees: about 1,300 worldwide
• Labor relations: no U.S. employees represented by a labor union; limited representation in France

Management and leadership

• CEO: Scott E. Howe (age 58)
• CFO: Lauren R. Dillard (age 40)
• Chief Ethics and Legal Officer / Secretary: Jerry C. Jones (age 70)
• Chief Revenue Officer: Vihan Sharma (age 47)
• Chief Product Officer: Matt Karasick (age 49)

Pending merger

• On May 16, 2026, LiveRamp entered into an Agreement and Plan of Merger with MMS USA Holdings, Inc. (Publicis) and related entities
• Under the agreement, each share of LiveRamp common stock would be cashed out at $38.50 per share upon closing
• The merger is expected to close by year-end 2026, subject to customary closing conditions, including stockholder approval and regulatory clearances
• If completed, LiveRamp would become a direct subsidiary of the parent and its common stock would be delisted

Research and development

• R&D expense for the twelve months ended March 31, 2026: $148.1 million
• R&D expense for the twelve months ended March 31, 2025: $176.7 million
• R&D expense for the twelve months ended March 31, 2024: $151.2 million
• Management expects R&D spending to be at relatively similar or higher levels in fiscal 2027

Operations and compliance

• Platform is designed to be interoperable with AI models, applications, and agents used by customers and partners
• Data hosting and transmission rely on third-party providers, including Google Cloud Platform and Amazon Web Services
• Privacy and data governance are central to the business, with commitments to GDPR, CCPA/CPRA, and evolving global privacy laws

Public disclosures

The company provides disclosures on forward-looking statements and risk factors, including risks related to the pending merger, data privacy regulation, data supplier relationships, cybersecurity, competition, and international operations.