Liveramp Holdings, Inc. · NYSE:RAMP
Liveramp — Q2 2019 Earnings Presentation
16 slides from Liveramp's earnings presentation, Oct 29, 2018
Slide 1: Q2 FY19 Supplemental Earnings Slides
Q2 FY19 Supplemental Earnings Slides October 29, 2018
Slide 2: Safe Harbor Statement
Safe Harbor Statement Some of the matters discussed in this presentation contain forward-looking statements regarding the Company’s future business prospects which are subject to certain risks and uncertainties, including competitive pressures, adverse economic conditions and governmental regulation
Slide 3: Best-in-Class SaaS
Best-in-Class SaaS Q2 FY19, Non-GAAP PREDICTABLE STRONG DEMONSTRATED RECURRING REVENUE LAND & EXPAND + COMMITMENT FROM LEVERAGE MODEL NETWORK EFFECTS CUSTOMERS $259M 1 115% 650 2,3 69% Revenue Run-Rate Dollar Based Net Retention Direct Clients Gross Margin >80% 45 4 33% +100 basis points Direct Clie
Slide 4: Summary Financial Results (Continuing Operations)
Summary Financial Results (Continuing Operations) Q2 FY19, $Ms, except per share amounts GAAP Non-GAAP1 YoY YoY Q219 Change Q219 Change Revenue $65 20% $65 20% Gross Profit $40 34% $45 22% Gross Margin 62.3% +670 bps 68.9% +100 bps Operating Loss ($38) nm ($14) nm Operating Margin (59%) +1,170 bps (
Slide 5: Revenue Detail
Revenue Detail Q2 FY19, $Ms YoY Q219 Q218 Change Subscription Revenue $55 $42 30% Marketplace & Other Revenue $10 $12 (15%) Total Revenue $65 $54 20% Subscription Revenue ex FB $55 $42 30% Marketplace & Other Revenue ex FB $8 $7 29% Total Revenue ex FB $63 $49 30% US Revenue $60 $49 22% Internationa
Slide 6: Trended Income Statement (Continuing Operations)
Trended Income Statement (Continuing Operations) $Ms, Non-GAAP FY17 Q118 Q218 Q318 Q418 FY18 Q119 Q219 REVENUE Subscription $113 $37 $42 $46 $47 $172 $51 $55 YoY % change 57% 65% 62% 51% 36% 52% 38% 30% Marketplace & other 41 10 12 13 13 48 11 10 YoY % change 22% (8%) 39% 10% 34% 21% 15% (15%) Total
Slide 7: Cash Flow (Continuing Operations)
Cash Flow (Continuing Operations) Q2 FY19, $Ms, except per share amounts Q219 Q218 YoY Change Operating Cash Flow ($27) ($8) nm Total Capital Spending1 $2 $1 80% 1Includes capital expenditures and capitalized software. © 2018 LiveRamp. All rights reserved.
Slide 8: AMS Sale Transaction Summary
AMS Sale Transaction Summary $Bs Net Gain • $2.1B pro forma cash balance Sale Price, Net of Transactions Costs $2.3 - Estimated $500M tax payment (payable in Q4 Book Value of Net Assets (0.6) FY19) Gain on Sale $1.7 - Invested cash will result in significant increase in Estimated Taxes (0.5) interes
Slide 9: Outlook
_4liveRamp Outlook
Slide 10: Confirming Fiscal 2019 Guidance
Confirming Fiscal 2019 Guidance $M, except per share amounts Revenue $275 to $285 $7 +25% to +30% $268 to $278 GAAP Non-GAAP1 Growth Revenue $220 ex Facebook Revenue $275 to $285 $275 to $285 $20 FB Revenue 37%+ Operating Growth ($170) to ($158) ($64) to ($52) $199 ex Facebook Loss Revenue 1Non-GAAP
Slide 11: Other Guidance Items
Other Guidance Items $M FY19E FY18A Q1A Q2A Q3E Q4E FY19E Revenue Phasing by Quarter 100% 22% 23% 27% 28% 100% SBC associated with acquisitions $30 $12 $10 $10 $9 $41 Non-acquisition related SBC $23 $6 $8 $12 $11 $37 Total Stock-Based Comp $53 $18 $18 $22 $20 $78 Interest income $0.5 $0.3 $0.3 $9 $7
Slide 12: Appendix
_4liveRamp Appendix
Slide 13: GAAP to Non-GAAP Income Statement Recon
GAAP to Non-GAAP Income Statement Recon FY17A Q1 18A Q2 18A Q3 18A Q4 18A FY18A Q1 19A Q2 19A Revenue 154,385 46,757 54,013 59,121 60,210 220,101 62,471 64,812 Gross Profit 72,773 22,696 30,004 34,595 36,410 123,705 38,817 40,346 % of Revenue 47.1% 48.5% 55.5% 58.5% 60.5% 56.2% 62.1% 62.3% Excluded
Slide 14: GAAP to Non-GAAP Income Statement Recon (cont'd)
GAAP to Non-GAAP Income Statement Recon (cont’d) FY17A Q1 18A Q2 18A Q3 18A Q4 18A FY18A Q1 19A Q2 19A G&A 92,898 23,587 23,724 20,929 16,914 85,154 18,124 25,176 % of Revenue 60.2% 50.4% 43.9% 35.4% 28.1% 38.7% 29.0% 38.8% Excluded items: Non-cash stock compensation 17,471 2,616 3,134 3,190 2,252 1
Slide 15: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation FY17A Q1 18A Q2 18A Q3 18A Q4 18A FY18A Q1 19A Q2 19A Net loss from continuing operations (89,869) (27,079) (26,001) 2,534 (19,598) (70,144) (27,818) (41,180) Income taxes (benefit) (40,948) (13,320) (11,869) (29,791) (7,898) (62,878) (1,428) 2,700 Other income (expens
Slide 16: GAAP to Non-GAAP EPS Reconciliation
GAAP to Non-GAAP EPS Reconciliation FY17A Q1 18A Q2 18A Q3 18A Q4A FY18A Q1 19A Q2 19A Loss from continuing operations before income taxes (130,817) (40,399) (37,870) (27,257) (27,496) (133,022) (29,246) (38,480) Income taxes (benefit) (40,948) (13,320) (11,869) (29,791) (7,898) (62,878) (1,428) 2,7