The stock value of LiveRamp Holdings, Inc. (NYSE: RAMP) increased significantly when the company’s financial reports were made public after close of the market yesterday. RAMP shares increased by 15.83% during the extended trading session, closing at $37.46. Impressive financial figures marked the end of the company’s fiscal year 2024: operational income and sales for the fourth quarter both exceeded projections.
Financial Performance
Notable gains were seen in key performance metrics, including the acquisition of high-value clients and yearly recurring revenue. LiveRamp announced $172 million in revenue—a 16% increase—and $124 million in gross profit—an 18% increase with a 72% gross margin—for the quarter that concluded on March 31, 2024.
Strategic Improvements And Innovations
LiveRamp implemented a number of strategic initiatives during the reporting quarter with the goal of strengthening its position in the market. The business unveiled the newest iteration of their data collaboration platform in February 2024. With new features like a simplified user interface, technology that can adapt for cross-cloud interoperability, and a partner marketplace that lets outside developers create applications showcasing their skills, this unified platform unifies solutions for the whole marketing lifecycle.
Furthermore, LiveRamp introduced enhanced functionalities to enhance addressability, connection, and measurement throughout Amazon Demand-Side Platform (DSP) and Amazon Marketing Cloud (AMC). Through a privacy-centric approach, these advancements allow agencies, advertisers, and brand marketers to leverage LiveRamp’s connections with these providers, uncovering important insights and data.
Acknowledgment And Prudent Modifications
In April 2024, LiveRamp received recognition as the “Industry Solution – Technology: Retail” Google Cloud Partner of the Year, recognizing its efforts to assist brands and retailers in maximizing the potential of marketing data and analytics on Google Cloud. This honor comes after LiveRamp was named the 2023 “Global Industry Technology Partner of the Year” by Google Cloud and Habu was named the Databricks’ Partner of the Year for “Communications, Media, and Entertainment.”
Additionally, in April 2024, Google revealed that the complete deprecation of third-party cookies in Chrome will be delayed, with a new timeframe set for early 2025 instead of the second half of 2024. This delay does not alter LiveRamp’s strategic approach. The company has been proactively preparing for this transition by developing its Authenticated Traffic Solution (ATS) and investing in clean room technology to facilitate secure first-party data collaboration.
