The following is a summary of the LiveRamp Holdings, Inc. (RAMP) Q2 2025 Earnings Call Transcript:

Financial Performance:

• LiveRamp reported Q2 revenue of $185 million, exceeding expectations with a 16% growth year-over-year.

• Operating margin reached a record high of 22%, with operating income growing by 28% to $41 million.

• Subscription net retention improved to 107%, and the '$1 million plus' customer count reached a record of 125, an increase of 10 from the previous quarter.

Business Progress:

• LiveRamp achieved a sixth consecutive quarter of double-digit growth in subscription revenue, with a notable increase of 14%.

• Marketplace and other revenue grew by 23%, reflecting strong execution, especially in digital advertising.

• Significant wins included a multiyear, multimillion-dollar deal with a major global ad agency and new contracts with significant players in biopharmaceuticals and public cloud sectors.

• International expansion included new wins with France's TF1 and Australia's REA for using clean room solutions.

Opportunities:

• LiveRamp's ongoing expansion of its Clean Room Network positions it to capitalize significantly on evolving market demands for privacy-centric data collaborations.

• The enhancements in network nodes, particularly with major CTV companies and large retailers, are expected to foster substantial future growth.

Risks:

• The more tepid demand environment and economic uncertainties pose challenges to sales momentum, potentially impacting short-term growth, as noted in discussions about IT budget constraints and client caution in technology investment decisions.

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