LiveRamp (RAMP) 25 May 222022 Q4 Earnings call transcript

Good afternoon ladies and gentlemen and welcome to LiveRamp's Fiscal 2022 Fourth Quarter Earnings Call.

As a reminder, this conference call is being recorded. I would now like to turn the call over to your host, Lauren Dillard, Senior Vice President of Finance and Investor Relations.

Thank you, operator. Good afternoon and welcome. us our joining quarter XXXX for results. you to fiscal discuss fourth Thank are CEO; Howe, President me Scott With today our and and CFO. Jenson, Warren statements risks Today's are differ cause materially. release and call to contain press this actual results subject uncertainties and forward-looking to that could may that

during For description and reconciliation copy A of risks, press release of At Also referring the liveramp.com. call I please Factors at today, deck any be the available is to measures, Risk release. turn will a of the the our to non-GAAP press schedules, posted we detailed financial to financial including Scott. will section over call on public this slide these the our website. read filings time, in our

all I'm us to today for Thank LiveRamp. prepared takeaways remarks and of hoping highlight my you, today. three fundamental will about thanks joining that you Lauren

enters First, and of LiveRamp from economy. well insulated believe as of We're the the XX% we relative companies. economy market very uncertainty, fabric is into most the resilient, headwinds a macroeconomic data period to embedded subscription-based

have with posted we our in a capital. think top we're quarter completed and on satisfied recently profitability no QX, return another the improve line clear third, shareholder to of sight areas we And that means notable of number growth and client Second, are of can wins. by with where we line growth,

resilience. First, LiveRamp's

Wall however, recent This financial talking next on chance by share year on weeks. chaos traveled Let at of a in the journey. with enjoy the leg the an given start as just fiscal to me Street we absolute always opportunity year-end the macroeconomic well addressing perspective path swirling the as reflection it feels I really our different, the markets of both our for provides as headwinds.

supply amount uncertainty. has well pandemic, Ukraine, a inflation of significant in financial volatility the lingering in rates war of as brought global this markets rising chain year as challenges, and devastating impacts the With the

and publishers fabric operating have and the enhanced point, in valuable generate the more domains leveraging LiveRamp's more ecosystem. Comscore into business are entering have more as is authenticated industry in top experiences very shift outcomes. we us line collaboration leader all data them a embedded over ecosystem macroeconomic X,XXX uncertainty a changes, data success for than only our while technology, but profit, experience continuing of today, the position our we there solutions performance. is LiveRamp our seen representing data-driven including website addressability very conviction and and recent to identity, XX as of can roughly our in customer serve that customer that balance gardens. publishers from category-creating are of the as As broader the dollars measure of address to our companies how than more exist. Case generation XX% mobile ability Moreover, on the both addressability to online transform XX,XXX U.S. great integrations, walled these and now marketing enable past, their are their Despite and resources app a decade handful our We've over to cycles recognized of for innovation to catalyst deliver connected market into delivered consumer strong due and multiple 'XX include economy. plays our major business a time future-proofed our through part not of experiences. in grown FY the This the working. as These well. of strength strengths studies In and display LiveRamp customers reason toward in inventory continues Since internationally a scale spent product and the has LiveRamp's a with solid case prove to next XX% ago, we uncertainty, are directly well and founding to growth been in

we expanded this The For announced Desk Trade an year, partnership example, EUID to with earlier in power Europe. their

successes on origination predictable our from comprised insulate of SaaS XX% together, course, And which us subscriptions the secure destination economic is revenue of network. side, Taken these help of our fluctuations. large

Total In results quarter, & reported Expand LiveRamp subscription in consecutive line continued which We're we XX% in with to these our In for and as in large clients particular of result and continue Second, win grow pleased guidance selling logos continue and metrics and the our added normalized driven we across with revenue up product eighth QX. our exceeded QX, wholesale. all grew quarter. revenue the We was exited be Haven. the revenue with $XXX motion. ARR, for Normalizing XX% to grew up strength and suite, XX subscription year was top up up total the wholesale XX% contraction, approximately of million segment customer the increased by momentum for XX%. Safe in and to see revenue enterprise as XX% quarter Land enterprise XX%. adoption our net a new

$XXX,XXX compared major Our to year. U.K. customer was a the XX% a XX, to to grew $X and and to deal Haven million-plus our Safe with measurement prior and an the quarter, American Haven in In count new account million the signed $X for with increase be up expansion. provider. in Colgate of a deal a EU France we count driver customer projects North Safe insurance of continues the big also both XX% TV

on enabling is with we a expanded talked and about collaborative next-generation retail owned powered by great example emerging a last network JD.com. an relationship example, this the For deal new our capabilities. of In personalization properties. media use to include cases we use quarter, This Haven JD.com's Safe quarter, operated new case

the expansion Haven holding from agency example major global Another was with Safe quarter a company.

strategic CPG clients of and identity verticals. financial retail, this As the suite for collaboration part services top LiveRamp the multiyear power in will and partnership,

at higher ACVs price enabled upgrade the Given points. of and customers the breadth by use Haven have Safe cases platform, higher

typically length our contracts to of to on we the we As to our we customer average increase average. to size and contraction seen continue churn lower than continue the average have base upgrade expect and and remain what Safe to Haven,

retention XXX% normalized net was Our wholesale. for in subscription the XXX% quarter or

Turning bottom line. to our

expanded of and Our to delivered profitability. gross we XX%, of sustained ahead target XX% our margin long-term

For basis reflects generate up cash focus free value roughly a segue which points. This discuss, the year, commitment our X%, on was strong to to would creation. to full like leverage and across XXX business and the performance great topic ability our the operating to in I the is perhaps margin model our final flow

our for implemented Third, we remotely designed plans faster greater shareholders. profitability improved are satisfied have and and growth, return not for

ability levers clients, and we mirror and we our remind aspires LiveRamp in improvement great build what recognize have market the many our even not never recognize improve they the ways better like can are have They an an to to success just As there be look company. And efficiencies to companies employees, an coming faster, in that serve grow great that often better always accelerate never, traction. but exceptional which I exceptional, see. quarters.

potential think Let through cylinders me I walk where business hitting of is don't there the pursue. and think a where us to for untapped we're few all on areas I

line on all outlook, further of the year. some for and number improve our coming one, these explain them operating growth. near-term may While opportunities Opportunity represent our plan of performance recent our top to accelerate

but We of year, think efforts. I grew to over through out FY blocks the two, the the expanding expanding partner we in our XX% better. three, one, 'XX, accomplish subscription past slowed we initiatives: and four fast back we to year. by revenue we intend came early future channel our product do the new revenue geographies; our half In marketing and Although bookings, can in the four, of efficacy; accelerating fast, roughly of indicator sales capacity; this discrete improving

number of me over revenue we're increased material seeing hired XX over We X%. past salespeople, past months, just the to changing reps. further sales U.S., to driver economic example, marketing not not is did already demands. In year-over-year by about sales new biggest capacity. hire let growth we adverse responding to leads a compared XX% clear, We've an XX to We're roughly of commercial XX% Now the approximately experienced were be and hot client challenge. market three labor our for not roughly of months. enough headwinds, The you the refine competitive flat. increase the sales conditions When simply commercial this we're or this -- product headcount

achieve With their trained we've quotas. ensure persuasive, the effectively talent, to development selling also influx of introduced training programs new more sales are more and enterprise in and reps well

know are we growing requires We continued sellers program provide selling fuel pipeline, that to It scale capacity We believe leads in while lead is hire predictable at strongly robust a to equation. And every sellers. building in successful succeed, and conversion we that gen believe our CMO math also more not just a the a of long-term hired sales qualified stronger person will we and SaaS that growth. investments will rates. process strong

SaaS, in there's itself. of us. recent for Safe our Haven product to also that end, pay this To will old great suite refinement an Now dividends sells axiom think our we continue

clients centrally explore increasingly is functionality storage another as annual we kinds and excess has have of that they and cases powered hundreds permissions interoperable any anywhere any have simple Some we so all with complementary ask XXX%. is The have how user of a Safe These partner. can to a identity, LiveRamp's compute upgrade valuable work. integrated Haven just scale. purchased clouds. a work common with into that a and and of bundled clients We no, investors of XX is can Haven in can user data and the Safe through CDPs, our Haven and plug activated technologies, Today, accessible, exactly their on be seamless how net answer us across with appropriate whether room. that clients A use be Safe clean to major expand. everyone brands buying suite. an used and over breadth clean capabilities and represents or be almost there is Clients experience, destinations, that competitor higher room and process easily can true dollar interface emphatic can holistic isn't ACV is with of All needs work data security. cloud. be any and This managed new all The expressed desire can suite can suite retention and answer? cloud-agnostic with

of Safe year, Haven to migration the the double the goal Within painless. relatively be leveraging think next will We the is our number suite. clients

Today, not a has providers. existing serve strategic As multinational television the a can markets, in intuitive even our key won't long use cloud, James for example, the and it help Arra be value lives. customers rather customer on was has as previously here. and data we enables ago, their of to from international but identity, to Haven from key our A We migrates simply XX years natively UI with our only in accelerate faster for wherever a cloud environments up source us these And 'XX with In quickly we'll final few U.S. the data increasingly, clients, the XX reduce ecosystem and is technologies to third more and our which additional power business integrators global been activation more to to may and then, deliver AWS increasingly they expand identity Snowflake ago. LiveRamp announced and advanced like have our serve within A includes the similar been since partner a partnerships growth value over launch channel initiative and many we expect and announced strategic has been unlock We cloud. much for more outpaced using LiveRamp start cleaner, with to to capabilities In for Safe and we customers. more XX%. leading data initiative revenue This their The as greater to been use of recently, bookings access environments. importantly, runway for up exposed. they have or that This we scale lead onboarding this FY disruption technologies, warehouses. well. is us. deployed to a us. strategy, international This cloud for to efficiently. achieve coming year, expansion. markets partners, fragmentation will cloud simplicity experience year these their with natively quarter flexibility for changer in in greater identity the systems partnership the FY has and we natively segmentation a our combination allowed gen nice and investments, believe 'XX, data GCP customers new unlock which the companies ATS returns cloud initiative allows cloud game additional year more cases international and A to And

from this, near-term us. these a profit. number could into SaaS LiveRamp's $XX economies Now from time, we Again, this revenue operating haven't strong On our that for past million, $XXX over an over not record our efforts just think built significant flow model two we are over of Opportunity forecast. months was catalyst we years XX two, Operating scale. of million cash be speaks But ago. for itself. track improve exhibits the satisfied. improvement

As the we'll profitability coming but year. we'll ease, absorb continue restrictions COVID improve in the of T&E travel additional to

shareholder three, our will and increase benefit areas we'll returns from on business capital. While improve other number most scale. sales capacity of increasing to invest opportunity return And internationally,

with that committed satisfied price currently potential and reflects all exploring continue price to LiveRamp's share shareholder appropriately stock maximize value. not remotely don't We our recent performance. we're to opportunities believe We our are

we we historically, Of have grow and done capital is continue intent. shareholders. best also revenues, will in But as I that's we satisfied And the our market, course, to profits thing simply returning explore as do can just discussed, erratic this clients. to

example, back have aggressively strong a opportunistically record buying we track based conditions. of market on For and shares

result, billion form last in over to $XXX returned the more separation course decade, repurchases, XXXX. have of As a we shareholders $X.X the the since late LiveRamp-Acxiom including million of in over than share the

intention common we started I before XXX an In this portion three up key call. summary, December his to in more Warren Given today stock to additional XX. LiveRamp's the which revisit current of the of discuss our million during detail me will the market, announced call. repurchase themes the with let

we're First, of we and market fabric ecosystem to choice. period and in the very continue of embedded data improve is believe serve. profitability We'll into we safe grow a uncertainty, the LiveRamp a

but seek grow expanding improving of trajectory. and Second, know current even and the broadening our coming QX year. represented that with to importantly, will increasing our capacity, revenue sales another third quarter bookings same we our in our aren't partner In anticipate more we And the coming satisfied and growth of and the most products, we perhaps months, channels. geographically cloud by faster and even marketing remotely

will ways included but on There is path to is to an will to unlock including cash improvement. significant and shareholder accelerated work value, explore We do creative opportunity our of to continue grow. flow program. focus continues a -- And we market buyback much

We deliver of are a data customers' critical to component innovation our market. category-creating infrastructure to and the continue

have call on support. against will to over a and all the today to ongoing year our Finally across team updating on exceptional the again in to our deliver you in we and that, thank LiveRampers forward their customers, FY a turn partners quarters. you to work ahead. globe hard and of and for With I coming and now our for look We place 'XX focused the progress to Warren. to and energized importantly, goals strong our special execute enter the us joining thanks we

good us for finally, say next, and afternoon, the And areas: highlights update continue and deliver. to few buyback our capital on for allocation today. is everyone sea I program. provide discuss 'XX; provide for was Scott a the our always quarter. while three year thanks FY QX; to on we my there focus amidst would to like first, solid change thing joining uncertainty, QX for one in and share a remarks Thanks, of approach and guidance the an and QX room improvement, can we is that Today, and

We our gross a long-term target. up million, For the XX%. year, was year. exceeded revenue grew, total margin We $XXX had solid LiveRamp

leverage. only margin We up every XXX was again profitable, were quarter, operating in demonstrated points. the but basis gross XX%, Our We year considerable not for full too.

We Our fall-through was generated ratio $XX XX%. approximately flow Operating cash. cash million. was

capital a finally, the $X share we owners. capital was million. for Our year spending modest to And returned

million. of RPO marketplace Please which up marketplace revenue next we revenue shares up or new XX%. for fourth X%. backlog contracted Overall revenue million X.X was up XX-month million, and In was In XX% revenue marketplace to subscription repurchased accounts XX added net and subscription quarter, up. up X. we $XXX our other increased XX% total and Slide roughly Data quarter, 'XX, fiscal was $XX During the ongoing turn XX%. the Current were again Customer other represents was customers. XX%.

reminder, a was platform retention XX%. And will As the ended this cause at million, was XXX%. $XXX while the XXX%, metric. retention net timing renewals and can quarter up volatility of in net ARR

As expected, for for was wholesale approximately impact million and year the Slide This contraction on million our as impacted results $X shown $XX XX. were the negatively quarter. by

revenue increased line, was ARR revenue have Subscription up and XX% top XX% total is this, Beneath retention and international, XXX% model XXX%. been platform the Excluding working. would XX%. business up up our retention and net XX% and net

gross by points here quarter, driven was of losses. was basis refund a by continued $XX graph optimizations. a cash million, tax part to in flow the $XX For approximately driven and to profitable identity margin roughly operating of were improved carryback related We XXX XX%. million Productivity

Before a owners. non-GAAP of In margin improvement and guidance, leverage consider trended $XXX operating capital please expansion, improvement XX% turn gross margin pretty points, gross since moving cash returned of growth million $XXX CAGR and Non-GAAP FY the past, to EBITDA since FY and our mirror to of summary, is a basis to The X,XXX of performance 'XX. Ramp on X. public. million Slide stewardship. results 'XX share of became Growth, trended clear. is Please

and for FY 'XX. on Now guidance to QX

I'd into our jumping for like 'XX. considerations to priorities FY the numbers, and about talk Before

cautious we uncertainties. bookings appropriately slowed and the our softness being remain slowing correct of mentioned, market motion. sales our our in half first QX our macroeconomic while as the First, relative reps said, expect in as this Scott year. for ramp given That we're growth we our we believe enterprise Also, foundations as will product build and overall fit strong, outlook, and

we are to Please line turn to committed leverage. Next, continuing XX. Slide deliver to bottom

We with investment our global in expect profit post-COVID despite R&D expansion. rebound expenses, the continued our increase associated to and costs operating

We are By currently year-end, XX. in to in available and up XX be expect countries. running we

Now XX. to XX Slides Please on and guidance. to turn

we the $X of expect $XXX million approximately first operating and quarter, approximately For income of million. non-GAAP revenue

of million For excludes revenue restructuring few guidance amortization, this operating midpoint. of approximately between related $XX the non-GAAP the full million mind profit keep million $XXX margin and intangible expect Please full we comp QX A and for X% of $XXX in a stock-based at year, or and our charges. and roughly other call-outs year. and

operating For QX, contribution be In to income by we from net QX, roughly to XX%. of the be margin expect we lesser expect to from decline be anticipated extent, driven usage platform sequential net subscription XXX% approximately expected and retention relative contraction. we our and year. be watermark XXX% is the for lower QX XXX%. low expect a to net adjusted roughly gross the The retention to And retention an

million to and FY approximately relative XX% a usage top was incremental our in mid-teens. the high-level for our both year-over-year full contribution FY 'XX, are; year, think to provide performance. previously performance the contraction 'XX guidance, bridge order from bookings of you and help revenue. our assumptions we $XX a The in FX. our usage, extent, lower from lesser of me in Usage; wholesale disclosed the line revenue let expect impacting subscription For grow about factors Subscription to revenue,

expect the uncertainties, in FY marketplace service business, and data Marketplace; of grow strength FY outlook 'XX given expect for 'XX we for we in for our Given year. the to be our XX% our approximately of plans excess to usage macro marketplace, the XX%.

for slight services are gross the be continued year. expansion to gross full international expect We in and the year-over-year Investment decline. driving XX% margin margin roughly

modest in that anticipating Russia. everyone are Ukraine revenue We any not We we impact negative the do FY FX have to from 'XX. either a remind would exposure or

by I'd year like Slide about for included Finally, other to we our now have talking conclude assumptions the capital philosophy. XX. allocation on

in profitable strong opportunities our balance our decade, that generating flexibility opportunity, exit acquisition to We our through and us the one consistent to the been a business of want program. market and has balance flows. Over FY global to business a allows leadership on With strong sheet priorities. and approach appropriate, the we course as allocation that as focused last in strategically extend repurchase and advantage three shareholders meaningful a capital that of invest take to a 'XX with that sheet, cash financial backdrop, return has capital is has

an repurchase of stock Given Under repurchase through existing additional program that privately our of end extends Repurchases market outstanding by or XX, transactions. under shares program, authorized in that strength, will share are we intend December FY the repurchase to we million be the open QX made the to 'XX. negotiated XXXX. $XXX

few again I'll the final opening Before questions, with on commitments. LiveRamp Through thoughts. year, this the to call its close now challenges delivered past a of

are foundations Our strong.

We an with our to personal have demonstrated ability navigate are create lasting and ensure data their and customers. competitive customers to consistently to relationships change, can use

our growth, confident capital. Our the behalf And demonstrated will over strong invested that to significant at will call model thank you we Operator, today. margins model finally, LiveRamp, we us all of of joining time, now On open on works, us here gross for returns questions. and profitability. generate are

question Materne first Your is with Kirk Evercore ISI. Instructions] [Operator from

on Kirk. I'd with Burkly you, start maybe for actually Peter Warren, I thought is This Warren.

guidance. sounds a 'XX I the for a current Just to of just is 'XX fiscal extent that being But macro clarify mean, guidance? -- baking and want like definitely the into has kind like environment biggest you're fiscal curious, baked I that usage impact seems down in what on factors, sort of bit it that's it just of the the

conservatism. FY our great about an given one, is the say number of of three level a was I'd I'd off then say a set XX% usage start, would really question It words. when would macro I start you I'd two, with balance. that's in 'XX. example. say great maybe And guidance, uncertainties, use, I I with. appropriate think to And number think

guidance. that bookings we could also for remarks, account into our that But FX. also of small prepared account that then we've a about conservative. trends you, prepared impact going is I'd to exactly I again, I quarters. level our the to side my remarks several them other we're given prudent go appropriately And finally, in on, the blow prove away conservative. the We've team to talked guidance is, Obviously, appropriate given appropriate taken given wholesale asking XX%. results. question, or the and while it felt highlight our these of direction everything we've be last Our tell be, for we've in the ask macroeconomic conservatism, into mentioned trade But taken think again, contraction our And that our recent would is that that's as your -- to planning in we too the on reflects of guidance. incremental backdrop, assumption

That's Scott, Warren. I for helpful that, you. maybe appreciate color.

that does You granted of up are And mentioned software we've because hiring hiring growth sort companies on obviously on bit. a of planning back fiscal a hearing picking you're sense. here it have been so front in you, of you make pulling 'XX. just in some guys little lot curious I'm

I Just curious the profitability growth going balance environment, about thinking given that how forward? guess, and you're between

to Warren is think hard think our markets, from We a to "In our quote back now products. win certainly said Buffett, And time the probably win." years many share. we clients many, hear that they always I from ago, Yes. love actually winners

a hire trying company last not message the And because we really to ourselves for in there's so to they best to have the people, customer recruit front out the hate with that there's of us. power prize work to a to data get good we to think ROI, decisions. when quarter or work changes better tell we figure I here their when talked of judge talked last people in And behind of the world. And Carrefour. talking over that about and the in us, better use earnings best quarters, allowing "Hey, with that we've isn't companies need to to tell sales. Target, But We company It they're about companies them across over the this talked that could we've want to mean by that we've we've hire more work on of come always talked top we're we the people of we work so something effectively, to Walmart, some Amazon, accelerate couple call on too. that get doesn't think the the us We growing world. in is even and this is some the how the a about Board. here. we've companies bottleneck planet about big better get just more experiences, them, They our pretty line. I hiring in talked pipeline about myself really going Our keep." to

were ask a I -- could of I'd our things Peter, we remarks. going as if there. probably look prepared and couple in add just everybody through you took a at slide this

XX. it's think Slide I

and we discipline we're of that there's coders priority into FY our forecasting is hiring -- for a mentioned Scott callers, also as well. 'XX our that performance as lot Just operating

costs, absorbing projecting about to we're million, that about million which operating an If COVID in expanding fact investment roughly we're internationally increase income. is an $XX you we're the think of $X incremental generate of also

prioritizing being So we're very operating FY growth. to approach hiring in we disciplined to to are the same drive yes, in higher time, disciplined at cost 'XX. profit our But in and approach delivering also our

Wells is Brian Fargo. Fitzgerald question next from with Your

stuff new International questions. some about bit the investment then acceleration in a further with really you you opening for plans and that Can and what's Trade markets, strength international Are existing in Anything there? territories? talk expansion 'XX? you bridge. called of called couple out operating your showed And Desk. some out income driving in more up nice incremental going A expansion working you deeper

so. you or be about during to to XX. would want too. in we're be We're on year expect the of may XX. We I'd course happy the XX forecasting in and Today, Scott, about this geographies to in start that weigh

One of going the on things. cite terrific things two about what's internationally. I'd

ATS all, is every of which a occasions earlier Scott in and Haven before go on operate. and is mentioned customers in approach global Safe today, the allowing winning to they of it consistent with it said ATS combination. First market we've combination multiple a our

fit. So have market product one, we great

The our second are little the is thing that a that mentioned, customers last I thing tied I pulling would highlight bit is into which these to global markets. us

to to we taking that in our as markets so there. to they're on. another to countries, Spain global be asking XX So customers us and and us Brazil, advertisers to It's those move want be to Italy, its

a expansion. it's and highlight winning model our third, a I'd ATS our works. are of Haven So, And couple One, customers driving combination. our are things. Safe that

Scott, to you did Scott, Warren, that's -- want add you or want And -- did great. to

I think mean... a I was there drop. mic

That's the had -- to September I on Maybe a was thought. I the It deceleration imply in looks phasing guidance. only what follow-up one quarter.

the half. rebounded back You in

You Is about and talked view? your of noted maybe you or though talk the it hiring macro it's in? ramping Anything about trends Could baked it little Is the Is comp them backlog you productivity it sales impacting issues? the drawdown? this. a bit force the all those?

I of a Obviously, know I of a beyond would seasonal for anything those is all said. too. which already the combination don't bit holiday that that really It's things. we've add quarter us,

to the reps would layer one this last in, Yes. I hired fact quarter. sales I that we The in XX speaks thing the new mean,

stride. someday takes them has will experience as that start to It find day on months their people one, be and Our they really as for productive immediately don't right? been be six

is of that math a into we our again, sales And believe But equation. built so here. numbers that's kind

happen. If hire talented the a against check know and people you good of and our have you a is builds, the to you for then going product. number check, know good pipeline, And revenue deliver us, if reps we check, then get right product have you you and sales

Your Shyam with is question next Financial. Susquehanna from Patil

couple I questions. had of a

First the about about think in update just can Carrefour talk we us to second one you you and this should question, relationships, on growth how fiscal how Haven, Safe progressing? upcoming and contribution maybe And are just on those Walmart, revenue year? then can

think remarks calls, here, off? I'd our customer. is kick what Scott, can Sure. our I'd Warren. mentioned This platform his too. back you start prepared we of earlier Why Scott And is in to I to some don't LiveRamp applicable this in with even go single and where off every weigh

our about net So of prospects. we're optimistic Safe on in excess And customers. the Haven-related is XXX retention that remember very

of at stat least or -- that couple a I'd mention. Here's one stats that

we that's later, even $XX Well, quarter, for $XXX about one to about pushing ARR Haven-related last think quarter Safe million. I million. talked now be revenue

exactly would there's interesting into mentioned think of his really actually Two customers it are lot is in I'm how that what's integrated what asking really what that for. I Scott and and we our products So important he is is remarks, just it's again, our other be things potential. a highlight. stealing platform thunder And the prepared from

you is all thinking a When for. of this platform what large you about our exactly TV data things TV, every asking is are Again, couple that integrating for into Safe integrate year marketplace the in be So something we to potential upcoming well, the think Haven. is about into customers to intend advertiser fiscal of the for wants.

at clients, And fit. tremendous There's platform a other the for we Scott? just is we I I on know be. potential this us, the before product XXX% of So beginning market what can don't there. ourselves talk see really think

thing, a of disjointed, features, which every mean of what SaaS. clients products product. best is Maybe were we've one that do were specifically, I would aspect where by were some more -- our last years, of pricing as always the weird we our SaaS is SaaS the variety we respects, necessarily offerings, Shyam And I them a in Historically, unbundled but new kind forced world But kind products. themselves. we SaaS created the sell if truly sell new you I'll of into been model think in add certainly over not we mean, few back in

Safe And Haven that? television Hey, Do They clients work to us to different that forced don't You data And into work want plug in works. maybe can UI, because maybe you regardless want with there. let's the a to products they're a start use specifically, us were Safe to way. buy some right what other possibly onboarding. salespeople our subscription onboarding? XX in marketplace. do could Haven for, with more The ways. to sell. to But thing client they greatest forced different well, in work our products XX want with they're were Haven the client, and And they're an way choose that Safe client learn SaaS every only using onboarding now the they of log they to and now that is

our over And things to these ask self-explore, for upgrade to to so than we're so themselves. why it encourages questions, seeing already clients Safe the Haven find higher to time. And much clients that's average retention the net because of be

overtime of because the as more puts products onus SaaS great on well efficiencies of selling your so improve it clients. the discovery And

and you really may SaaS a other there very positive for we discoverable a clients. evangelization change that bundled, importantly professional that how more marry to market both we'll companies done SaaS our before do with Now but just transition us it but does for in offering, as and go to this have big way services some up ourselves

of part take on on both then, I'll the And also and Walmart the Carrefour. second question

just Let we're front that stay tuned them. just and so a I'd with opportunity alongside be thrilled Walmart business me start build we're the of but to on and obviously that to that simply with say Walmart the partner relationship this of we're beginning really say thrilled

about a I that words taking key Carrefour, say. would Next of couple

phase. in and I expand the we're accelerate think

Spain. tell now just kind in we're up me right France, few that Belgium, we're Italy, is Brazil, find running things and up we're running and running we're now in interesting and up running Let now and a and in now I in again of running in incredibly up we're you up now now

exciting in So are markets. we publisher as relationships really also we've globally an this the time. incredible doing building ATS, a each of is ATS work Two, with of that those been result

so some this and Iberica. in UOL, For and example, wonderful Spain in publisher Brazil, PRISA relationships, quarter, Prensa Globo

of us to going be about. now think positive use of So helping expertise. that words would a lot things are really other on couple that two I'd things really, A partnership. accelerate other to

incredibly and analytics in in inactivation only a market, other think are our that category library Two, assortment media and about this level of tremendous effective building not can up just for We're we're where to of valuable starting, and As particular management is can expertise pricing retail CPGs early created. that still I what we and I'd but retailers, a management and our put are see and overall very excited result to it with continues then innings relationships our networks extremely media get Carrefour exploding. also be what finally CPG, product again, retail better. mean more retail effects network in and media

roughly last tenants talked today was we we're now it partner think over I at XXX, being about overall quarter XXX.

So a the again think some beginning, more to exciting do it's work lot progress. but I

Your is question ahead. next from Craig-Hallum. go with Jason Kreyer Please

the all appreciate just growth profitability. color on So objectives and I the for

did XX% You I and margin. year of operating think for X% the line top that XX% the kind non-GAAP to give growth guide indicates

Scott, as not go with those 'XX. you As happy forward, rates about you talked we look you're how across

kind we So of are curious happy you be to? that to when what traction What accelerate see start And plan? then against would expecting you with? figures that should to

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track So our by judge us record.

history, and to either. intend If this year don't a we you at back look have history of don't we our missing guidance our

slower came think you FY Okay, But Warren, in rate 'XX. indicated been fair than last the enough. growth in slower it's re-acceleration revenue there few a I The at marketplace quarters. -- a

curious if and reaccelerates? QX that can about happened maybe you talk how So what in

marketplace I been would into we've calling transactional QX -- performance TV separate and in data marketplace. I'd the what data

overall, data was XX%. So up up marketplace while X%

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this really then going our in in on haven't we're this that are FY is year business. double expecting three year for and ahead. about talked we're to today past So things excited about business pretty what's is those really the equally And We something but we finally, off this service kicked 'XX. exciting

for going of business of year coupled ahead. So momentum exciting what's with in inside marketplace, data the gives the that combination of us have we on a our service the lot optimism

with next Macquarie. [Operator Instructions] from Your question Nollen is Tim

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Zangler Nicholas with from is question Stephens. last your And

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the thoughts. your love answer but know to I this to think hear just I

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session. question-and-answer back the And Jenson final now turn that to ends the for Warren call will comments. I

to I in to happen to be Europe, would guide a you thanks take June One, most here at three strong And you, very XXX% and the foundations want us. thank invite you then RampUp San in thoughts months Well, happen we're headed say to today. leave great. join today. guess, operator. LiveRamp. all our confident of and with, first also you believe Francisco remain while do, we nothing finally, would to I'd of XX for everybody, couple we Paris still And granted And be to having call. that you very Well, have final have on and we our if love a importantly, RampUp ago the you to I to miss we we're lot on

to thanks at behalf all here my really of joining LiveRamp, you colleagues us with appreciate So all for and your support. we that, of

conference gentlemen, you and Ladies concludes joining. today's call. Thank for this

disconnect. now may You