RAMP - Earnings call transcript Q2 2020

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Operator

Good afternoon, ladies and gentlemen, and welcome to the LiveRamp Fiscal 2020 Second 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, Head of Investor Relations.

Lauren Dillard

Thank you, Operator. Good afternoon, and welcome. us our joining Quarter XXXX for results. you to fiscal discuss Second Thank are CEO; Commercial Howe, and me Scott With today our James President CFO; Arra, Warren and Chief Officer. and President Jenson,

this call risks differ to that materially. Today's press uncertainties release may forward-looking are and results statements actual cause contain could subject that to and

release including release. For description risks these section reconciliation of a of A measures at Factors in copy public is schedules, our liveramp.com. filings please of and our to non-GAAP press detailed any the read press financial the available Risk

referring Also website. during the to turn Scott. call the time, this deck today, the our we'll on over to be posted I'll call slide At

Scott Howe

Highlighted Good for top We Thank accelerating us momentum you, line growth, thanks and growing afternoon execution. a improving Lauren. operational record on by relentless ecosystem focus bookings, outstanding joining quarter. and today. delivered another

quarter, the For revenue total XX%. up was

our and fueled agency continued acceleration grew subscription and data marketplace advanced channel driven of XX%, over enterprise up and our Marketplace by television and by of was our business. Our XX%, strength business the other

we operational customer-focused made product strides our infrastructure to standpoint, and pipeline build innovation. an From of scale a strong significant

a the long-term quarter, teams the engineering Cloud, for to growth. foundation completed our Google the establishing During solid durable migration

shareholders. integration and finally, opportunity. Customers to to are approach are Data seeing cross-sell indicators disciplined In remain addition, early allocation combination our large our pacing our remain our plan. is And teams field delivering of validate in commitment incredibly Plus capital the ahead of Math you, and excited about we that on our the

million. have million of repurchased than During the approximately and stock, $XX quarter, fiscal we more year-to-date $XXX repurchased

today. facing by secular trends being the Our recent enterprise is fueled momentum strong marketers

brand cohesive lies more interactions. multichannel, and providing security and more behavior differentiation key and data-driven are at of in all ever true the high meaningful advantage and consumer than competitive organizations is expectations are channels today are world experiences personalized, Data shifting experiences, all-time retention. this, relevant customer an are increasingly center are across that and concert, important and realizing privacy at In that to the before. the experiences As is data becomes consumer and

data and are these and each choice safe increasingly to and turning megatrends, because are enterprises role critical LiveRamp of a in to connectivity the customer strategies. omnichannel enable Identity play we secure data their

remainder of and and our addressing CCPA the our We drive continued the about Durability like are neutral longer-term of data breadth of would in the two sustain tremendous we at market time our and core for commitment I the the growth to and talk because next open topics, coming ecosystem fuels including my are Warren approach, different the years growth beyond. readiness. of initiatives important that winning our the levers governance. growth of of to bets network effects and decade our durability steadfast often the spend making to at growth. growth and will I in LiveRamp, and our

expand component focused previous directly our our and this I share by that our bookings with delighting of a customers, maniacally record growing are XX%. mindset, we our the surpassing to which LiveRamp, At ever model. aligns excited quarter, on am land largest and was

past LiveRamp And over can the count never the be remain customer X about equation. be continue to base, subscription of direct broad additions always to bookings adding we made our optimistic and quarter, We driver tried growth to split and where we've logo years, our were bringing We in the feel size. satisfied. our improve. areas customer customers upsell, new average new roughly approximately transparent XXX. This and We'll nice XX between about we expand deal see across growth enterprise

effectiveness. sales core an our detail talked are be I churn some where efforts We're impact. aspire not we about subscription having yet our focus improving quarter, on net Last but and in to retention, our

are while we subscription outpaced the And in several the aiming higher, quarter. expectations XXX% retention net months was ago. Our we we shared

quarter, more or BYOD bring fueled trend by XXX%, Facebook, by business than During data. the the growing marketplace grew excluding other your our and towards own

As brands are the season strategies, their marketplace to this heading more our sophisticated feel needs, to turning increasingly continue to build data benefit streamline from to quarter. this trend third-party holiday we positioned buying and they into well

also are had was In in the roughly QX, the our we of third-party and quarter. now It back Amazon. at API share to that addition, up a XX% elevated of pleased half we in is live year. growth standout expect levels TV

over Data mentioned is across upfront, the using pipeline Data building. with our track we being we time. is generated customer are metric top what TV and goal XXX% of base, excitement acquisition TV a networks pleased has Math how with our its One Math Plus the percent the with I As metrics inside largest lot advertisers business transact of XXX very Plus

Data brands existing one, buys Math metrics we've more many prospects how that achieved on a two, us matter This clients; Today, quickly to optimism sparks and how adoption TV pursue. outcomes two Plus making on the roughly double-digit fronts: are based that most remain is XX them. for to and stat among

Let share representative a example. me

are transactions. store matters advertiser. been onboarding, One a in-store retail Math, existing measure Leveraging now of a TV and Data also large store able our them are on what they but Plus it's which visits measurement data LiveRamp to account, long-standing has TV, customers and for

supporting sell side, that at opportunity the for also time, signed buy guarantee a our an with both everybody and brand major Better well, this to network Plus outcomes for Plus Data thesis tremendous proof is Data has on benefits. same Math which as Math still, the important point

LiveRamp all of TV, is X and Advanced TV area linear Of that play serve. Advanced unique data-driven is course, we ecosystem the addressable, including measurement CTV. of only across and we areas

is Our vision data-driven the to a TV personalized to and TV transformation lead more for LiveRamp ecosystem.

on X planning, every television. We platform dollar for are measuring optimizing and activating, spent

in television. through our our the billion. for of in in more digging the little strategy recent me examples confidence our momentarily, detail more $X gives success our James appendix durability of deeper walk in interested and included of path growth in those have but our a to will We go-to-market slides on lot a

CCPA Next, readiness.

initiative the establish effort essential trusted key provide different X customer as Another and we data. should CCPA topic that advisory set how this an us connected days. work huge CPA and operate. is looking standards news year LiveRamp for Core recently good guidance to best And partners the to standard was a conversation. industry the held are this is is to We for doing in each, industry of to customers readiness. the The around are

with one specific broad focus of compliance companies form While many area to sophisticated data. is any assisting for people-based us we toward CCPA, of are the working collect

level the have before providing under A roster, playbook follow. with brands, publishers which to consumers and data that of a to providers we've choice and One GDPR notice done is and includes company benefit of a CCPA. this in right global being solid

We our made are ecosystem partners notices be to contracts and changes policies, consumers working closely our customers. with and with which privacy to to identify must

play Our platform are consent maintained. management and important ensuring demonstrating can the captured factor role in is preferences consumer also it

playing continued engaged ensure the data the We with to level field. remained state protection, balance and level federal a heavily consumer between innovation, right both and business outcomes at regulators also

looking partners consumer transparency privacy, and us and customers embrace experiences. and are lead, summary, that building are importantly, we to products great services for In and

of more. are positioned it those conclude, and influx as ongoing work guidance regulatory trends execution I'd foundation slides clarified. To much fueling still The draft becomes I look very well regulations the the on we durable to is learn and finalized, have our their there in year. the get quarter recognize back for with to we pleased partners the long-term and want Again, our we included am hard to business and remain thank market through this liverampers into momentum our extending forward who support topic for for customers, work. While to we recent personally building the with in we like exceptional additional growth. are as appendix intact, our half

us again our now today. in joining I'll James, efforts discuss call to more turn Thanks the go-to-market detail. who will for over

James Arra

everyone. good Scott, and lot, a Thanks afternoon, Great.

As quarters, a solid QX. was by seeing next the few of spend our things. had progress many like we I'd in place performance put strong a great in few quarter. very as minutes accomplishing Scott the initiatives to demonstrated over few last said, LiveRamp We're with the

a X year First, Day of quick ago. Analyst review our go-to-market strategy high at outlined we level

I'll share strategy. we've this Second, of you the put programs some execute to with in against place

the third, And metrics we for tracking the review are $X the executing we 'XX. FY in we are revenue key path, that I'll right us setting a are well, goal we give on and are groundwork billion few confidence of

we a outlined year the review strategy Let's go-to-market ago.

committed engaging on platform them technology nature platform our them expand. commercial with level the we strategies beyond prospects, As of We the and revenue focus and set then, more companies, land of our has with similar SaaS business, by more our go-to-market strategy expand. efforts discussed given high land our high-value ultimately many lever an right cases. additional our and activating and our enabling But to growing use

marketplace the have extend business. streams core also by We outside ability to revenue our subscription incremental enabling of

LiveRamp's [indiscernible]. to us unique position and in the land, allows expand market

against doing this are how So strategy. we

with portion. start land the Let's

QX recent marketing our partnership more by a stated, XX%. major our history, our new in than multiyear largest ever, was logo a As provider. closed quarter record deal previous booking Scott We largest with beating cloud

XX transactions with deals X of with annual momentum factors. over recent $XXX,XXX. contract closed and value market greater primary also ACVs to We be $XXX,XXX logo can than new a couple attributed The

helping more become data-driven customer us experience. in position the recognizing is more companies companies must-have LiveRamp's technology. the to are leadership this enable First, approach making and a of importance

this logo Our largest building ever pipeline on sales had. the team we've is capitalizing by new trend

a of to product implemented acquisition. Second, powerful resources team year, Late Through our we these years, over work segmentation variety we are offs. our best prospects. devoted highest beginning we logo we we've team, account many now training our done of effort, new a program, quite programs of expanded field This last new learned approach field bit more new has that our strategy we've practices value to we and we out pay refining best on refined sales playbooks strategy logo this ensure launched on and a leverage see to the our the and that approach rolled implemented have team.

metrics. of in that closed largest at agency with upsell portion QX, upsell X expand strategy. churn value, target with We were annual in look nice of X upsell saw deals bookings a and $XXX,XXX being improvement larger our clients. beat X our million now In company our $X.X our contract the Let's deal than the we holding

a We also television million enabling TV signed to deal offer advertisers. upsell their use cases expanded programmer, $X advanced major to with a them

expansion is contributing Math acquisition Our Data Plus already strategy. our to account

pipeline built Plus $XX deals and more of quarter, X a clients. we upsell than million Data Math the with For existing closed

for examples of that and technology has a are to client major A few these of all optimize Math advertiser for aspects you. decisions. the TV Plus a their Data Let insurance They X LiveRamp me now ideal highlight addressable years. OTT leveraging and advertising linear been are a company big

this All has our of QX. for retention, subscription XXX% resulted net increasing in to

is are of metric, trailing comps As from and year larger this few you a all we upsell the a seeing impact ago. know, still a

us Our the performance retention and Data improved progress again. in net confidence subscription trending with is upsell momentum gives right direction with Plus the Math

in improvements out grown planning tool Warren upside land more of saw we've made very this, our are white to drive go benefit has our rolled by Since and on this we're progress planning account XX%. seeing than Similar account our the space field on process. from standardize to our efforts our pipeline Early expansion. implemented pleased with new to to section, we QX. account the of in strategy the in more greater a will his but we market, QX, share a specifics number portion we team

steps increase function. took our account within we accountability Additionally, management to

success products driving customer on team fully sold, and leads commercial existing account renewals is and our focused Our expansion. team is on focused on engagement

and rolled and has expanded We is account development positive type are done here have on field playbooks expansion come. team to playbook there our training We applied also out account seeing and use case our new our been training. more by upsell results strategy already feel to has management work efforts. The

I position unique As in us an growth. mentioned LiveRamp market the gives additional earlier, for lever

our same subscription from extend business leveraging our SaaS generate we have. Keep the in we mind, marketplace the platform. to marketplace ability in Our our existing comes business, customers revenue

excluding was another revenue mentioned business. our for up marketplace Data QX XXX%, and Scott earlier, marketplace strong other As quarter was Facebook.

other You second marketplace, their and them of Through social of data this consumer last build third-party and their concept Analyst is many with are will very When with and bring brand data third-party data One clients partner leveraged social is here own audiences shutdown marketplace categories, data. This example Day they Facebook combining that to by of consumer clients and our offering. recall data package, first-party leverage LiveRamp's We've your then including agencies where unique from powerful audiences sets. the year, our packages leverage adoption XX to our data many can on third-party build data brands to that data and a Facebook. license still data within strong wanted in With platforms, able Facebook. unique media still can. QX. seen be targeted and had this

CRM success package, to SMEs late lack our last our CRM subscription A We subject expert to bring are of are We recently power and top packages rolled marketplace build growth to key a data able and business. model to marketing. additional Through they their much to marketplace our for matter CPG SaaS on we virtual this of a relationships data drive and traditional CRM year. data people-centric package our launched CPG extend market challenge the sales many continue of attribute able package the measurement brands out These clients. virtual existing to a data. is now data for

existing is captures net subscription we the know, of the our net marketplace entirety customers. looks introducing conclude you LiveRamp growth. we to of Subscription earlier, of new remember. retention with As X not an Warren whole does our leaving drive by net at can any don't mentioned retention you metric, like retention it will revenue. feel but from a metric be metric, story I'd points to growth important the I include platform the that

is working. First, model our extend land, expand and

all seeing of levers. X solid from We are these growth

FY Second, expense end seen marketing productivity will the rep and our model year of scaling. percent is over continuous a revenue with We've 'XX. sales and improvement as in improving

finally, a had LiveRamp quarter. And great

of well accomplished are 'XX. quarters. FY I'm We for future team proud in a a look strong second I continued our and really QX, to in strong positioned half forward and the what success

for now your hand Thanks I'll to attention. Warren. off

Warren Jenson

good both Thanks, the performance We're growth and outstanding another afternoon, A pleased subscription by highlighted great James, revenue our call-outs. to and strength quarter, everyone. the report of marketplace. few

demonstrating strong, Revenue in XX%. is importance the durability. business and Our its up $XX ecosystem was million, its

blow-away XX% of by Marketplace revenue. revenue represented of Excluding XX%. approximately $XX XXX%. of the of quarter, impact Facebook, million revenue up $XX increased was up XX% revenue was Subscription total and million had a

transactional, make ecosystem. mistake, highly is this accretive a While no business predictable, highly and the durable part of

Our consistent and been growth has consistently strong.

revenue XX% has grown the more ARR Even quarters. of by at quarters, quarters by than more in XX. in XX% XX XX Looking than importantly, last XX XX% than increased by in XX last the and more has more

Next, operationally, we to continue tighten.

XX% Our this gross again and is was margin quarter. climbing

our non-GAAP Excluding $XX transition million, $X spending operating of was loss million.

integrated, now are Our migration behind fully is complete. factor spending Math the to Google is us. and Cloud Plus transition Data

at cash look lastly, We we you close getting as you'll to are estimates material flow on transition any breakeven. reliance service have your QX, And see Acxiom. finished for

continue shares quarter, repurchased shareholders. shares have for Fiscal our million the we approximately support $XXX to repurchased we we for million. X.X year-to-date, In million. X.X $XX million Finally,

Now I'd the for our growth the of to talk remainder like and corners of four and my provide about update guidance. remarks, LiveRamp's

metrics, Four our turn frame Please X. corners forward growth which prospects. This growth. to chart X highlights we believe of Slide

to which the ARR; subscription year-over-year net referred retention next, and at A subscription revenue from and as looks previously level revenue prior dollar-based period. platform First, callouts net retention, year third, growth. explanations, retention subscription set. few growth had in growth retention; net subscription in net customers, in Subscription retention; the to marketplace net finally,

associated not customers revenue is growth period. include important, the subscription growth was subscription net logos, existing new may marketplace. And marketplace year with from from growth in metric prior it but been In does a quarter, who only the obviously XXX%. have course, customer lagging This retention in current of

to expect was upsell look and ahead we for subscription the now and the driven net be we and retention QX, XXX% usage As in stronger XXX%. quarter between trends. The being is both and and QX by improvement year to

who in comprehensive was net the XXX%. is, same-store sales and historical at In more a looks period. from retention metric of overall metric revenue reflective of our quarter, year growth This year-over-year a obviously, retention. This net source more the in our revenue performance. Platform prior any customers were much platform

look fiscal this expect you year, As at between to of historical be you also our can overall our net metric and growth performance, been balance of see expansion rate has the The consistent XXX% stable. and XXX%. we highly

fixed Growth associated metric measures growth of the in revenue. portion ARR. year-over-year the This subscription our with leading

excluding both growth a performance marketplace, the case, our will using This the year In marketplace. in customers year's this aggregate of see XX% while with the in up transaction XX% metric you Approximately growth have impact trend. IPG. strong of lagging and finally, are ARR. either presented in ago. a complements trailing metric, We last from XX-month And subscription now

the together, compelling and our demonstrate durability performance. trends our Taken consistency of strength, and are

XX. revenue not turn XX any of RPO does does revenue. next of The portion where Please has months. include expect been transactional contingency to revenue contracted nor not RPO the is a current we contracted over to revenue, recognize a It exists, measure it Slide any non-contracted is include which RPO. contracted recognized. yet

the As current of growth we at portion our outlook. we are ARR, in strength the performance the marketplace look of ending of and our confident RPO,

to you be have to knowledge. we as still would Therefore, mentioned, derisked be estimates. to to answer CCPA. to there's Now you clear, for to have don't if have our XX. short your guidance conservative be tried But much that. on asked, And impact to have potential ask Many exactly turn Please guidance. Scott do of The Slide we the perfect we finalized. with we is

purchased our and reminder, stock-based restructuring amortization guidance charges. a compensation, including excludes As intangible items,

$XX report million expect million, between loss up we to operating $XX and now XX%. of XX% FY of In between revenue and and 'XX, between Non-GAAP $XXX million $XXX million.

million please transition complete. transition behind us keep in costs, mind, includes estimate this and GCP $XX While is is now of our migration spending to

to excess revenue proximity XX%, QX, cash of million, revenue approximately an expect close margin flow. in up gross to of positive of operating within loss $XXX For of to be be and we operating of X%

expect for and as low in spending payroll by in seasonal of a variable loss spending percentage we preparation to taxes QX, the For be our double CCPA. increases for driven digits, higher revenue higher ramp-up, in compensation, operating

with You with can final assumptions guidance Slide close on a let few thoughts. other that, XX. me find We

great This was another quarter for LiveRamp.

lasting customer building great that embraced are privacy that neutral in We transparency solution a world and a that haven, company. consent, We experiences. and we needs operate safe are

is Our We it's inflection our and durable. customers long-term are place. have trend This need lines strong, built levers is an highly point. our and predictable in multiple business clear, and products want growth

now see And are to spending We we a incredibly profitability transition through our we to and about our optimistic our us ample in through remain migration, GCP opportunity. long-term liquidity path have progression. finally,

for On behalf of all to Operator, call open we'll the liverampers, thanks questions. us joining today. now again

Operator

[Operator Instructions].

from BMO question line comes first Capital Salmon Dan Your Markets. the of with

Daniel Salmon

follow-up in I we of opposite. the your like up, retention and better understand that. there because light Warren, mean for CCPA. look It what when the a lately. your to and when signed is like look to comment of ago the people big you at little for partnerships just your seems business moment, a with on other about seems ratio players guidance like at are bit It you just could in some coming picking the Maybe, derisking I'd reaccelerating, is moment a ecosystem you we

sort And or guidance could talk methodology impact it continues, a for around cautious being you got about I've derisking on X that that, much after when for have the So it products? is thought actual the of, just your about then is more follow-up to technical that. the, how acceleration that that

Warren Jenson

working we confident let favor, ARR. several outlook. are me back in say in think XXX% appropriately half Great. is, Dan, our things, performance couple in of Well, incredibly a strong an There things we one, feel are that our

both As incredible quarter had and Scott James bookings an mentioned, well. we as

XXX% last this Marketplace, growth, XX% growth quarter. quarter's

the look we backlog ARR, confident growth at RPO metrics. strength marketplace, our strength our of the the look at and the We year of overall we we of when half look portion outlook. of current appropriately back our forward and at feel So in

to know Now we refreshes CCPA. impact of don't everything. the that said, also We relative

So a rates, our look closure to we've pipeline. what's to our given at in care of extra at lot our bookings, look

working challenges do tried say. as the we Some technical we on guidance through. of best that we fact, in what to our And that ensure could, derisk to in we're that we, deliver

don't uncertain. taking for take lot our we still knowledge. done feel appropriate with both been mentioned, are forward some the we confidence our into in a but account perfect we've I that to As to have in things measure There's outlook along trying be

Daniel Salmon

statement, to Great. further thinking little And just then anything. going guidance giving or without maybe just the about X follow-up, any margins a down income

in standup relatively assets, company moment you don't to a you've feels that's, lingering to think after margin pre-sale It point, of, to love of, of LiveRamp the you a you're cost both but the that's company Google Cloud, hear at within transaction the whether I'd a -- Acxiom do a the little where products noted delivering a past of Warren, if sort the you like whether were costs, gotten past sort investing there costs, but independent. back where time being corporate of know lot As position, that, I more you're nice legacy year that. temporary also -- sort on time. bit a to enjoyed same sort now really for ago, the of, of, back color we shift grinding the

Warren Jenson

I would tell you, yes.

you company up infrastructure, as all this not we're to growth This considerable to never the where us. Cloud. now at And inflection ratio is stood point. and in a really transition year we really it's linear, a of every massive record in migrated behind point, this highlighted, transformation Google going We single at speed is has been LiveRamp. right inflection an go feel, Dan, the every But obviously, direction quarter. we is Now, just public

was inflection again, it's a to say always on talking are on call, you summarize point the can deliver for statement just from going point. not prepared we could linear revenue leverage. we're every to line. from this But single in now point we point be our As exactly and to item in way best this at literally benefit The line every it forward, exactly principle, that about we made. income the And

Operator

Your next line SIG. Patil question is of from Shyam the with

Unidentified Analyst

is This on Oliver Shyam. for

I way I So wanted can going adoption client rates think forward? also to about to countries? right in just some the ask, what's to that OE and adds know And but your you net progress discuss talk of on other international,

James Arra

Sure.

I'll adds. this the net customer So is James. start on

that's So we're trend so and around -- about expect net at we've been between or per and right forward. a to moving see XX we consistent XX quarter, customer XX the

there's that's certainly out. expand and our model at we we've hit really quarter to in but and quarter being for built that, feel that this to Now pretty us opportunity some what point, about into good able

Warren Jenson

international. me about let a for moment chat then And just Great.

we're terms In that focused we that I'd product have lot internationally long-term of believe a say on adoption, are and of X promise. are there things well, extremely working

we're platform. our we've you talk in We about is sharing is many data with thing carefor. heard believe breakthrough. that done have the First what of us work doing this And

And TV. is nascent while the very then it's The second thing measurement. is thing, still third

our short-term of again, reduce term, rates I that growth seeing though, tremendous demand transition going term, repeat that while things everybody the from will Now we're that that growth our we're rates long-term in a near through, to couple specifically. customers. There aware near in the be are want

issued many As ICO, RTB I the guidance you past U.K. regulator the aware, think for of which this are is summer.

going having an The U.K., we in are is the in and impact an of the impact now, part growth our is industry implementation in right it of the and year. which guidance, slowing that have through, the but will back particular,

alluded transition and the data today, or second through, with to doing more we're as in us natural benefit the Europe going second-party just data we're we in is to away from very that believe sharing long-term which relationships I data shift will carfor. The third-party

So seeing towards is And in the same we early news data data. for that the demand be time, positive as a shift signs beneficiary TV. our in platform this position we're for good of measurement that sharing primary a is what to we're second-party and know at as well significant

Operator

is line question of Zlotsky Morgan next the Stan from Your with Stanley.

Stan Zlotsky

Is quick from When -- we -- I year which a my CCPA One, a be follow-up. ever And and think potential point of more set for one. negative, a questions next positive Dan's potentially then us end. couple finer better impact, or A about material we question impacts earlier. maybe as on models. whether putting thinking quick on just year us have to about our

Scott Howe

Yes.

clients here follow. to policies, design and is months, all expect So that Stan, Jan all privacy in management we've when of terms of Scott. would client contracts because big do from impact consent we Factor partners, our ensuring is in way. turnkey of in the curve partners or better by well. part won't it's X any into of all CCPA and is months our see And to into this are CCPA so preparing to again, of part X the built hard our last ensure as for front and The The we're frankly, allows has been all us of thing a our think of good I of our a goes remediating X ready next they're we way us purchase year. quite that helping potentially our takes can effect that readiness. they regulations that front fact on final be, written, blueprint But the a ourselves That GDPR get said, products. spent it the that rather, for in such

ramp-ups clients. can sessions any standing ready. the both CCPA what Our continue and from one-on-one, television most so and the be they'll we changes We popular lot has sessions Newsletter, the site road, for And drawing that and for so counseling to that there's we're with a legal finding demand is us to attendance communicate of only. clients at room where been been ramp-ups, on have CCPA, our the micro launched

So think really all this well to say positioned. we're I is

there's a quality language will been be might same I written. think we the But time, has I of. not at beneficiaries still here also, that that final CCPA the the flight say,

say for And job with a impact. of the think crystal ball can't that so be done But it. I there I we've won't any preparing good

Stan Zlotsky

Okay, of question. yesterday, our the Can the recently we've going-forward you announcements Really you That's announcements high-level caught uneven guys with that partnership A with to with perfect. similar me. given guys it the you on out mean And MediaMath. that partnership nature then MediaMath in and past. partnership what couple put a the eye, the Rubicon, those basis? specifically walk through heard relationship for of maybe that us a

Scott Howe

off, Yes, noticing first and for Stan, that. asking thanks

super time are excited great the and XX They Joe, long years, MediaMath. just ad for It's known their the a We of with are a of part I've about tech better been CEO, great leaders coming. and this in space. partnership he's company, this X

doing More the we've what into like announced. integrate I'm string the so partnerships to that And with and of I he's source pleased we that. capability, speaking that IdentityLink broadly can really

going I think entire validation of our is, Number X that things a on. I X there are think philosophy. it's

melted it agnostic have and X the have about had months. We being to seems skepticism last whatever talked away really neutral that, over major about partners XX and long to

APIs measurement or that the sales it's Google have have for the and whether we that store with DSP, And with announced integrations Trade Amazon's Desk that we Facebook. we the capabilities

to aim anyone in the industry. and catalyze everyone that walking we are the walk We

always like for most And either the not which the announcements SSPs progress think standard. we thing may Mobi XX string including solution including X to of about is, now, is I where Media a we traffic The have of Openx contract on stand X XX pubmatic. world entire anybody, be already that this not rubicon, Criteo have lost measure cookies our ecosystem hope index recently, is talking we implemented, months and ATS, authenticated second and up we've literally, derisking We a be started Map. in and third-party in ago. and under made I that will or DSPs, Then the next

think the the They've that's world for think I taken and good So has IdentityLink, on ecosystem. I standardized entire notice.

Operator

Materne with Kirk of Evercore line the from ISI. is question next Your

Unidentified Analyst

for appreciate together. all supplemental deck. very that and Lauren thanks in I incremental really you And much the putting the details

I metrics. think around really forward helpful it's the

kind So to anything obviously great deals more front, of at would you when bit more kudos little you of that sort which just see. Was a this little more provide start. just maybe a a matter just deals look little the being ARR, maybe changed consistent of a upselling clip. guess, the the for Can that that. bit in great x-IPC, at bit marketplace? color consistent in to nice across and quarter, obviously, getting be maybe maybe on it a Has thanks I is start, jump to door,

James Arra

Yes.

happening. ahead So I I'll James. this. is go a take think Yes, things couple of and there's This

mentioned in the over number and fruit efforts. quarters, my First, to place remarks, those a from few there's last as programs we're starting in I of put we the see

sign. that's So really a and that it signals us what is we nice is think do, creating for better at good I getting we're some really it that

certainly already customers our earlier helps that's traction we're couple developed mentioned, existing X Math. is around this Data the that of of mentioned with I our X And of with that piece to starting And with And we company. upsell as second signed certainly lot to Plus that. of quarter. had ARR transactions we deals marketing see of contributing The them Cloud And a finally, us We growth. well. then a larger

got signals. some year signals. a into good We're pipeline. really half good and of the really, So bullish really on FY this We've 'XX, great second really

Unidentified Analyst

want on, follow-up visibility above well traditional that, do mentioned into have visibility kind or a if obviously that had What You what one. take in thinking. marketplace it's just James of a But were Warren obviously, to subscription but you maybe quarter, huge not do more have you we And Okay. that? a this model.

of confidence those So we out How more period? obviously think do business growth are do guess, get of, do of couple you how you kind comfortable rates -- when year. But run could with, you over a next -- feel over a maybe what of next sort probably I of, not at over the in, longer how quarters the grow of or kind a that sustainable. rate get sort

James Arra

predictability we things have obviously, Warren to and look of on we add go a it streams, we can what a lot I'll James, record very, what This and most our that We been have I'll this. really to revenue rate do growth the And of have more that's revenue we When apply marketplace. that there's committed of we durable. based at outlook in feel And color. and get start. off our it. track us the with is durability make historically to run hand given with to very little doing. the you the comfortable then Sure. is But

a said, us is year. well. aren't half expect momentum mentioned this third-party side. to be another lot of quarters. great huge Amazon, of XXX% with the on the as And you couple had as could of we Scott don't API and the there a quarter that marketplace But we happening second we in really Now earlier, have for planning data

confidence a So we're our some in good lot grow things really continue core business rates. our our that seeing to than faster us happening of to marketplace growth give ability

Warren Jenson

Kirk, history then, that that, about that a add revenue this predictable. And would to does sufficient transactional scale building I of it's become only

plot pretty still noise businesses And that pretty and on is handle enough the clearly. lot good here so that mean, a the seasonality, scale sufficient I now -- have big of lines quarters can some trend but there. how a really are there's you be the we noise But do our actually of

Operator

next Your from with line of the question Macquarie. Nollen Tim comes

Timothy Nollen

net mean, sustainable? it to them. And was X the I more clients back sell could elaborate referred platform overall retention I'd marketplace continue you spending, on question. [ph] still I time seem can to a portion you more confident number, Why that number. XXX discretionary confident is, that quite the come retention like on to, you those as guess, think of why it but if the the you are strong, retain to somewhat more remains that bit net you you just and

if be And fiscal that? on balance bit a during strong then -- and have of sheet. would question wonder profitability on -- other just a within you've commentary comments, cash? then please. And use 'XX. Any that have lastly, great, color more about So I X any The around still getting other you super timing toward that talked ones. please, quick

Scott Howe

let first, me that. take Let me take the

James Arra

Sure. Go ahead.

Scott Howe

that stability that flight broader have a have for for importance in our platform marketplace, and in striking ad particular, fueled can the They and a think marketplace and of a data Number of lot metrics them. X a trends data ethical couple within is data we the of will times of done for than going one-off consents So portion terms out of regulation, of to that of a going in the quality, of marketplace. on work all client data demand the it. We rather gathering see relationships. the hoc of number access our we providers

use. the In of addition, ease it's

XX So again, instead of to and having out contracts. go strike different

We of were plugged notice. into all turnkey at our their have data grid available hundreds for suppliers available

way And so that it's which buy flight underscores buy, to way just it's an a quality. to easier and safer to

James Arra

confidence that math in point things out behind of terms business. of our just and the A strength to put Great. some other I'd of couple the just

trailing the X these look X presented If growth, XX-month Slide of at of we corners are where our numbers. you deck,

XX%. XX%, period of So growth, XX%, QX, XX%, and represents months every XX XX%,

is there periods, so us confidence. which of a of line very a over multiple XX-month trend lot give And performance strong very,

A of then things, couple to follow-up questions.

of We we I in FY repeated, in that our not to that. of to down That and is would is Scott has if there on, an and would profitability all, feel profitability remain that use doubling First to everyone of terms And 'XX. cash. something I 'XX. know in we hesitate committed do said, committed opportunity that we said we merits of remain do remind FY

position a in having balance be to fortunate are sheet. and great have of a do We

same. Our remain the capital allocation priorities

fund growth as our operating just have of in we've the done First want at have in continue, then but context, through acquisition to really to be opportunities to shareholders have all, our And We selective, to buyback. acquisitions. flexibility very share needs that past just our flexibility. as our make we support

Operator

comes of next Fargo Coolbrith line the Your Robert question with Securities. from Wells

Robert Coolbrith

partner Facebook I XX you BYOD, have to Facebook bringing on customers categories said replace think now I the wanted functionality. to ask and third-party data into you

questions few a related Just to that.

about think a said integration. XXX customers of the I quarters couple using FB you back, you had

-- would correct it fair there, just but go us that? runway amount of a just we're So on like to seems wrong have please if you

part popular of may who other marketers then BYOD was data seeing categories pretty had you of, use as, and broader of CPGs sort Second, this these. for a some and programmatic limited are for starting think pretty assets. other I among point And have first-party finally,

as to serving with like with is some about starting that. customer able might of point BYOD some discussions help for types those second-party say to able if you wondering I'm So things of you might or other where anything them new be partnerships be a marketers

James Arra

Yes. Sure.

into pushing talked So first-party the on the the data number referring in Facebook, the I earlier. may to XXXs. were work is we that with, social Facebook, that that was be you package What the we about clients the

that. very seen data, progress third-party to there's with there. there's XX the a us with runway still still we the be lot of had we've a quarters for happy We're more last with over here yes, growth think the So lot is but early, few

if that? had you Facebook, repeat The comment or question second second you you about can had the

Robert Coolbrith

as discussions usage significant that you to seeing a not catalyze had point and use past? assets programmatic you with and your And finally, on first-party platform BYOD in for the cases. CPGs really are who starting in is then others just Well, have broader use other starting this might

James Arra

is CPG, together of a the some become of companies and packages places. leverage interesting like is this using is There's we times, such there strategy. out And putting Yes, that you that own key marketplace it. many they packages even very that can we packages. revenue CRM and X work segments out other as strategy said, leverage with, revenue. to our get brand, about these have growth certain whole mentioned the like that other packages is so. this And with earlier, idea though our are these we or bring data times, that that can part and that don't this to as put they're part they them Facebook core Many the transactional really many have where marketplace in that part other commit that their And of of strategy. together we can I destination package is brands lot this various there And virtual associated others our a and much said, as powerful. I a of whole data can

a it of, So creates predictability this, transactional in sort more lot business.

Operator

Brett of next with is Your Huff line from question the Stephens.

Joel Hoeffler

thing that and Joel Brett. the harder? the nice looking is TV is What ramp is quarter. Congrats winning for biggest can This on that on for make out

James Arra

winning TV and harder? Rick,

Brett Huff

connected TV? the the connected Like TV, winning

Scott Howe

plus miles person, them. the advertiser who mean scaling I business mean, us scale. you the business. the single to and person every data in every, capacity our And to talk what our John own last really, in the think obstacles by first think I I flyer is foremost, frequent probably math the runs quarter. that to biggest It's Virtually television Hoctor, wants if the most are want Yes. about is, to

off the to to his matter ground. we how so and and to get tell duplicate story subject the organization, with And the entire need ability story to clients evangelize teach our campaigns to how experts

TV in XXX% QX. was Connected up business Our

been but issue do with hasn't we years GRPs than in clients and really the on that obstacles to a of It's going data innovation, growth. just more of about outcome-based in small how much a help on our ERPs can all isn't go So really they It's a for growth. accelerate we XX-some base. off There's with buy of here whole and and lot in granular television terms sudden, there about a measurement. lot excitement could

a for -- opportunity it's big real a it's So think opportunity, big we us.

Operator

First question is Analysis. Gearhart from David line the with This of

David Gearhart

for ones. $XXX million then Seems QX think growth the rate. have the And net noticeable quick retention us for quarter? platform step I to net rate at just was I $XXX the looking Can year-over-year more you to revenue be organic and just also, relative for rate, the a million give to the really subscription guide retention QX. two down

there material should of aware if of? that something So just or be out coming we wondering is something

Warren Jenson

was. Math Data from to it. No, acquisition everybody We for benefit on And our happy do million had of just to call reiterate in Plus what the $X guidance the quarter.

Math Data TV of First now completely our integrated Plus all, into is business.

just be don't That would So we It's counting we the or when million $X and then year fiscal this within our $X Figure X year. million the it we the and from in in are of a integrated quarter we said, that as million we said made benefit of about separate reported for and acquisition there falls remainder about acquisition, operations. that on operate into X $X subsidiary. the the

XX% would So TV but quarter, for the up $X been XX% it if million. for have was that up

for Going to the about platform rate growth net the retention is Marketplace. really forest all

the question little to bit supporting it talked those James rates QX. QX just comfortable So earlier. that about We're not a growth big in and

more marketplace. QX. of growth mind QX growth outlook strong rate a it's you more moderate just in and a solely for a So but reflection They'll moderate

Operator

closing I session. turn back now our concludes this Q&A the to And remarks. will for Jenson Warren over call

Warren Jenson

We joining really another experiences. world Well, needs truly are today. safe believe really and building that we're great we're and for This transparency for embrace great ecosystem company. do of solutions where haven, thank the LiveRamp. consent, privacy importantly, proud was Most the you the we neutral lasting again we're part in that quarter customer we us an believe

and spending customers We We're want GCP our Our need. and is trend now products point. lines clear. transition inflection This built are an through migration.

colleagues liquidity, for opportunity. my path to optimistic on of our joining today. all profitability, a Again, about We and liverampers. have LiveRamp we all at us long-term at remain behalf ample Thanks incredibly again

Operator

conference today's concludes call. This

disconnect. now may You

LiveRamp (RAMP) 7 Nov 192020 Q2 Earnings call transcript