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Jun 30, 2022
LiveRamp Q1 2023 Earnings Report
Reported solid first quarter results with revenue growth and continued profitability.
Key Takeaways
LiveRamp announced its Q1 2023 financial results, reporting a 19% increase in total revenue to $142 million and a 20% increase in subscription revenue. The company's GAAP gross margin remained flat at 71%, while non-GAAP gross margin contracted slightly to 75%. LiveRamp repurchased $80 million of stock during the fiscal year to date.
Total revenue was $142 million, up 19% compared to the prior year period.
Subscription revenue was $116 million, up 20% compared to the prior year period and contributed 81% of total revenue.
GAAP gross profit was $101 million, up 19% compared to the prior year period.
Subscription net retention was 113% and the company ended the quarter with 90 customers paying $1 million or more in annual revenue, an increase of 29% compared to prior year.
Revenue by Segment
Forward Guidance
LiveRamp provided revenue and operating income guidance for the second quarter and full fiscal year 2023.
Positive Outlook
- Second quarter revenue is expected to be approximately $144 million, an increase of 13% year-over-year.
- Second quarter non-GAAP operating income is expected to be approximately $8 million.
- Full fiscal year 2023 revenue is expected to be between $590 million and $600 million, an increase of between 12% and 13% year-over-year.
- Full fiscal year 2023 non-GAAP operating income is expected to be approximately $39 million.
Challenges Ahead
- Second quarter GAAP operating loss is expected to be approximately $38 million.
- Full fiscal year 2023 GAAP operating loss is expected to be approximately $103 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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