Liveramp Holdings, Inc. · NYSE:RAMP
Liveramp — Q3 2020 Earnings Presentation
21 slides from Liveramp's earnings presentation, Feb 5, 2020
Slide 1: Q3 FY20 Earnings Slides
Q3 FY20 Earnings Slides February 5, 2020
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 Model
Best-in-Class SaaS Model Q3 FY20, Non-GAAP Predictable, Subscription Customer Land & Expand with Profitable Recurring Revenue Growth Network Effects Long-term Model 4 $286M 770 119% 75% 1 2,3 ARR Direct Platform Long-term (up 28% YoY) Clients Net Retention Gross Margin Target 5 80% 130 50 25% Subscr
Slide 4: Summary Financial Results
Summary Financial Results $Ms, except per share amounts 6 GAAP Non-GAAP Q320 YoY Q320 YoY Revenue $102 28% — — Gross profit $64 42% $71 38% Gross margin 63% 6 pts 69% 5 pts Operating loss ($41) nm ($6) nm Operating margin (41)% 20 pts (5)% 8 pts Net loss ($38) nm ($2) nm EPS ($0.56) nm ($0.03) nm Sh
Slide 5: Trended Financial Measures
Trended Financial Measures $Ms, Non-GAAP FY17 FY18 Q119 Q219 Q319 Q419 FY19 Q120 Q220 Q320 Revenue $154 $220 $62 $65 $80 $78 $286 $83 $90 $102 Gross profit $96 $150 $45 $45 $51 $47 $188 $51 $56 $71 Gross margin 62% 68% 73% 69% 64% 60% 67% 62% 63% 69% Operating loss ($59) ($36) ($6) ($14) ($11) ($22)
Slide 6: Revenue Summary
Revenue $Ms Summary As Reported Excluding Facebook Revenue by Type Q320 Q319 YoY Q320 Q319 YoY Subscription $82 $65 25 % $82 $65 25 % Marketplace & Other $21 $15 38 % $21 $15 41 % Total $102 $80 28 % $102 $80 28 % Revenue by Geography Q320 Q319 YoY Q320 Q319 YoY US $95 $74 29 % $95 $73 30 % Internat
Slide 7: Trended Revenue
Trended $Ms, Non-GAAP Revenue Revenue as Reported FY17 FY18 Q119 Q219 Q319 Q419 FY19 Q120 Q220 Q320 Subscription $115 $172 $51 $55 $65 $66 $237 $68 $72 $82 YoY % 58% 50% 38% 30% 42% 40% 38% 33% 31% 25% Marketplace & Other 40 48 11 10 15 13 49 14 18 21 YoY % 19% 21% 15% (15)% 13% (4)% 2% 27% 83% 38%
Slide 8: Cash Flow
Cash $Ms Flow Q320 Q319 Operating cash flow $16 ($11) Capital expenditures $3 $2 Free Cash Flow $13 ($13) © 2020 LiveRamp. All rights reserved. Slide 8 of 21
Slide 9: Four Corners of Growth
Four Corners $Ms, Non-GAAP of Growth 1 Subscription Net Retention 3 ARR Growth Q319 Q419 Q120 Q220 Q320 Q319 Q419 Q120 Q220 Q320 Subscription ARR $223 $232 $241 $270 $286 >115% 114% 108% 109% 112% Net Retention YoY % 45% 41% 33% 40% 28% ARR ex IPG $203 $212 $221 $250 $265 YoY % 32% 28% 22% 30% 30% S
Slide 10: Remaining Performance Obligations
7 Remaining $Ms Performance Obligations $345 $339 $344 $336 $323 $190 $200 $155 $171 $167 Q319 Q419 Q120 Q220 Q320 Current RPO Total RPO © 2020 LiveRamp. All rights reserved. Slide 10 of 21
Slide 11: Outlook
Outlook LiveRamp
Slide 12: Fiscal 2020 Outlook
Fiscal 2020 Outlook $Ms, except per share amounts Revenue 32% to 33% GAAP 8 Non-GAAP 9 Outlook Growth Revenue $376 to $381 -- $286 Operating Loss $186 to $184 $63 to $61 Included $11 $11 Transition Costs FY19 As Reported FY20 Guidance © 2020 LiveRamp. All rights reserved. Slide 12 of 21
Slide 13: Other Guidance Items
Other Guidance Items ~Ms SBC by Quarter Q1A Q2A Q3A Q4E FY20E Ongoing $11 $14 $15 $15 $54 FY20E % of revenue 13% 15% 14% 14% 14% Acquisition $8 $10 $16 $10 $43 Ongoing stock-based comp $54 Total SBC $19 $23 $30 $25 $97 Ongoing SBC as a % of revenue 14% Totals may not foot due to rounding. Acquisitio
Slide 14: Appendix
Appendix fo V4, LiveRamp
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Income Statement (part 1 of 2), $Ks FY 17 10 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 Q2 20 Q3 20 Total Re ve nue $ 174,760 $ 46,757 $ 54,013 $ 59,121 $ 60,210 $ 220,101 $ 62,471 $ 64,812 $ 80,021 $ 78,316 $ 285,620 $ 82,511 $ 90,143 $ 102,217
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Income Statement (part 2 of 2), $Ks FY 17 10 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 Q2 20 Q3 20 Los s from ope ra tions (GAAP) $ (131,412) $ (39,819) $ (38,133) $ (27,689) $ (27,883) $ (133,524) $ (29,602) $ (38,199) $ (48,211) $ (82,134) $
Slide 17: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation $Ks FY 17 10 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 Q2 20 Q3 20 Ne t e a rnings (los s ) from continuing ope ra tions (GAAP) $ (85,576) $ (26,215) $ (25,191) $ 3,117 $ (19,010) $ (67,299) $ (27,818) $ (41,180) $ (15,261) $ (49,688) $ (133,947
Slide 18: GAAP to Non-GAAP EPS Reconciliation
GAAP to Non-GAAP EPS Reconciliation $Ks, except per share amounts FY 17 10 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 Q2 20 Q3 20 Los s from continuing ops be fore income ta xe s ($130,760) ($40,399) ($37,870) ($27,257) ($27,496) ($133,022) ($29,246) ($38,480) ($37,807) ($73,8
Slide 19: Footnotes
Footnotes 1 Annualized recurring revenue (ARR) is ending MRR (last month of quarter) annualized. Recurring revenue is fixed and contracted subscription revenue and does not include any variable or non-recurring revenue amounts. 2 Direct client count excludes agency and reseller deployments and Data
Slide 20: Further Reading
Further Reading The following supplemental slide deck is available to investors on LiveRamp’s investor relations website: LiveRamp Authenticated Traffic Solution (ATS): Maintaining Addressability in a Cookieless World URL: https://investors.liveramp.com/files/LiveRamp-Authenticated-Traffic-Solution.
Slide 21: © 2020 LiveRamp. All rights reserved.
© 2020 LiveRamp. All rights reserved.