# LiveRamp Holdings, Inc. (RAMP)

> Source: Nexqual · https://nexqual.com/RAMP · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, LiveRamp Holdings, Inc. (RAMP), nexqual.com/RAMP" · informational, not investment advice.

**Price:** USD 38.23 (+0.24% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 38.14 · day 38.19–38.24 · 52w 21.71–38.34 · market cap $2.32B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $832M, net income $156M (18.7% margin), free cash flow $199M (SEC filings).
- Valuation: P/E 14.9x (avg 104.5x at the last 2 fiscal year-ends).
- Analysts: Hold (mean 2.67 on a 1–5 scale) (6 analysts), mean target USD 38.7 (range 38–40).
- Total return with dividends: 1Y +39.5% vs S&P 500 +14.8%; 5Y -28.6% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04 (date not yet confirmed by the company), EPS estimate USD 0.76, revenue estimate $219M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: RAMP paid no cash dividend in the last five years.
- Short interest: 14.23% of float (as of 2026-10-15), 5.3 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $529M | $597M | $660M | $746M | $813M | $832M |
| Gross profit | $381M | $426M | $480M | $530M | $575M | — |
| Operating income | -$65.5M | -$126M | $11.4M | $5.4M | $83.5M | $96.4M |
| Net income | -$33.8M | -$119M | $11.9M | -$814K | $146M | $156M |
| EPS (diluted) | -$0.50 | -$1.79 | $0.17 | -$0.01 | $2.24 | — |
| Free cash flow | $73.6M | $29.7M | $101M | $153M | $166M | $199M |
| Gross margin | 72.1% | 71.5% | 72.8% | 71.0% | 70.7% | — |
| Operating margin | -12.4% | -21.1% | 1.7% | 0.7% | 10.3% | 11.6% |
| Net margin | -6.4% | -19.9% | 1.8% | -0.1% | 18.0% | 18.7% |
| Revenue growth | +19.3% | +12.8% | +10.6% | +13.0% | +9.0% | — |
| Cash + short-term investments | $608M | $497M | $369M | $421M | $387M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.9x · P/S 2.8x · P/FCF 11.7x · P/B 2.4x · FCF yield 8.56% · Earnings yield 6.70% · Buyback yield (TTM) 7.84%
P/E at fiscal year-ends: Mar 2026 11.8x, Mar 2024 197.2x.

## Analysts
Consensus Hold (mean 2.67 on a 1–5 scale), 6 analysts; mean target USD 38.7 (low 38, high 40).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +39.5% | -28.6% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +39.8% | -6.5% |
| Volatility (annualized) | 37.0% | 42.4% |
| Max drawdown | -27.4% (Nov 2025→Feb 2026) | -70.8% (Nov 2021→Oct 2022) |

## Dividends
RAMP paid no cash dividend in the last five years.

## Short interest
6,863,350 shares sold short, 14.23% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 7,860,257 shares (-12.7%). Days to cover: 5.3 (short shares ÷ average daily volume).

## Peers (Software - Infrastructure)
DLO (DLocal Limited) USD 13.65 -0.87% · BLSH (Bullish) USD 28.47 -0.90% · CORZ (Core Scientific, Inc.) USD 14.43 -3.80% · RELY (Remitly Global, Inc.) USD 24.64 +1.52% · TENB (Tenable Holdings, Inc.) USD 51.78 +6.28% · BB (BlackBerry Limited) USD 9.19 -2.23%

## More
Full page: https://nexqual.com/RAMP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $160.4M | 74.9% | +8.1% |
| Marketplace and Other | $53.6M | 25.1% | +15.4% |
| Total revenue | $214.0M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $201.0M | 93.9% | +9.1% |
| Group Of Foreign Countries | $13.0M | 6.1% | +23.2% |
| — Europe (part of Group Of Foreign Countries) | $11.0M | 5.1% | +23.2% |
| — Asia-Pacific ("APAC") (part of Group Of Foreign Countries) | $1.7M | 0.8% | +30.2% |
| — Other (part of Group Of Foreign Countries) | $352,000 | 0.2% | -1.4% |
| Total revenue | $214.0M | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "Commenting on the results, CEO Scott Howe said: "Fiscal 2027 is off to a strong start, with Q1 revenue and operating income ahead of our internal projections."
- "The transaction is expected to close before the end of calendar 2026, subject to customary closing conditions, including approval by LiveRamp shareholders."
- "(2) the possibility that the transaction does not close when expected or at all because required regulatory, shareholder, or other approvals are not received or satisfied on a timely basis or at all;"
- "(3) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, including those resulting from the announcement, pendency or completion of the transaction;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.76 | $0.69 | +10.1% | $219.1M | 1 |
| Next quarter (ends 2026-12-31) | $0.86 | $0.85 | +0.6% | $231.4M | 1 |
| Current fiscal year (ends 2027-03-31) | $2.88 | $2.84 | +1.2% | $885.9M | 2 |
| Next fiscal year (ends 2028-03-31) | $3.45 | $3.27 | +5.5% | $973.9M | 2 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.65 | $0.60 | Beat +8.3% | — |
| — | Quarter ended Mar 31, 2026 | $0.52 | $0.50 | Beat +4.0% | — |
| — | Quarter ended Dec 31, 2025 | $0.76 | $0.67 | Beat +13.4% | — |
| — | Quarter ended Sep 30, 2025 | $0.55 | $0.48 | Beat +14.6% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-28 | 8-K | Director or executive officer change, or pay arrangement — “On October 22, 2026, LiveRamp Holdings, Inc. (the "Company") entered into an agreement with Mr. Vihan Sharma regarding his historic accrued vacation time (the "Agreement"). As part of the Agreement, the Company has agreed to pay Mr. Sharma an amount of approximately 600,000, and Mr. Sharma has agreed to release any and all claims against the Company with respect to such vacation time.” | https://www.sec.gov/Archives/edgar/data/733269/000110465926119655/0001104659-26-119655-index.htm |
| 2026-10-08 | Schedule 13G/A | Dimensional Fund Advisors LP: 0.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/733269/000035420426001027/0000354204-26-001027-index.htm |
| 2026-08-20 | 8-K | Director or executive officer change, or pay arrangement — “As previously reported, on July 17, 2026, Kristi Argyilan, who had served as a director of LiveRamp Holdings, Inc. (the "Company") since February 11, 2026, resigned from the Board of Directors (the "Board"). Ms. Argyilan served as a member of the class of directors whose term expires at the 2028 annual meeting of stockholders. On August 17, 2026, the Board approved a reduction in the size of the Board from seven (7) directors to six (6) directors to eliminate the vacancy resulting from Ms. Argyilan's resignation.…” | https://www.sec.gov/Archives/edgar/data/733269/000110465926099240/0001104659-26-099240-index.htm |
| 2026-08-17 | 8-K | Director or executive officer change, or pay arrangement; Shareholder vote results — “As noted in Item 5.07 below, at the 2026 Special Meeting of Stockholders (the "Special Meeting") of LiveRamp Holdings, Inc. (the "Company"), held in lieu of an annual meeting, the Company's stockholders approved the amendment and restatement of the Company's Amended and Restated 2005 Equity Compensation Plan (as amended and restated, the "2005 Plan") to increase the number of shares available under the 2005 Plan by 2,500,000. A summary of the material terms of the 2005 Plan, as amended and restated, is set forth…” | https://www.sec.gov/Archives/edgar/data/733269/000110465926097907/0001104659-26-097907-index.htm |
| 2026-08-10 | DEFA14A | Additional proxy material | https://www.sec.gov/Archives/edgar/data/733269/000110465926093095/0001104659-26-093095-index.htm |
| 2026-08-10 | 8-K | Other material event — “As previously disclosed, on May 16, 2026, LiveRamp Holdings, Inc., a Delaware corporation (" LiveRamp " or the " Company "), entered into an Agreement and Plan of Merger (the " Merger Agreement ") by and among LiveRamp, MMS USA Holdings, Inc., a Delaware corporation (" Parent "), Covey Merger Sub, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (" Merger Sub "), and, solely for the purposes of Section 10.14 of the Merger Agreement, Publicis Groupe S.A., a French soci t anonyme ("…” | https://www.sec.gov/Archives/edgar/data/733269/000110465926093092/0001104659-26-093092-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/733269/000073326926000047/0000733269-26-000047-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/733269/000073326926000045/0000733269-26-000045-index.htm |
| 2026-08-04 | DEFA14A | Additional proxy material | https://www.sec.gov/Archives/edgar/data/733269/000110465926090455/0001104659-26-090455-index.htm |
| 2026-07-31 | Schedule 13G | Vanguard Capital Management: 5.2% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/733269/000210011926001419/0002100119-26-001419-index.htm |
| 2026-07-20 | 8-K | Director or executive officer change, or pay arrangement — “On July 17, 2026, Kristi Argyilan, who has served as a director of LiveRamp Holdings, Inc. (the "Company") since February 11, 2026, informed the Board of Directors of the Company (the "Board") of her intention to resign from the Board, effective immediately. Such resignation was not the result of a disagreement with the Company on any matter relating to its operations, policies or practices.” | https://www.sec.gov/Archives/edgar/data/733269/000110465926085081/0001104659-26-085081-index.htm |
| 2026-07-14 | Schedule 13G | Dimensional Fund Advisors LP: 5.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/733269/000035420426000799/0000354204-26-000799-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.