• LiveRamp Holdings (NYSE:RAMP) reported strong quarterly results with record customer growth and broad adoption of usage-based pricing.
• The company exceeded its own revenue and operating income guidance for the 11th consecutive quarter.
• LiveRamp expanded AI partnerships and highlighted wider use of its AI enabled products across multiple industries.

For investors tracking NYSE:RAMP, the latest update comes with a share price of $23.21. The stock is down 4.7% over the past week and 16.8% over the past month. Returns have also been weak over longer horizons, with the stock showing a 34.1% decline over 1 year and a 67.3% decline over 5 years.

The contrast between softer share performance and the company’s recent operational progress may prompt investors to look more closely at how usage-based pricing, AI partnerships, and a larger customer base could shape LiveRamp’s earnings profile. The key question now is how consistently the company can convert these commercial wins into sustained margin expansion and cash generation over time.

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LiveRamp’s latest quarter points to a business that is converting product traction into earnings, with sales of US$212.2m and net income of US$39.87m compared to US$11.21m a year earlier. For you as an investor, the combination of record customer additions, wider use of usage-based pricing and expanded AI partnerships suggests that higher product usage, rather than just list-price changes, is playing a growing role in the income statement.

LiveRamp Holdings narrative, from AI enabler to earnings story

These results line up closely with the bullish narrative that sees LiveRamp as a neutral data-connectivity and AI-enabling platform benefiting from privacy-focused marketing and the shift to channels like connected TV, where it competes with players such as Snowflake, Adobe and Salesforce. The guidance for fiscal 2026 revenue of US$810m to US$814m and GAAP operating income of about US$84m fits with the story of a business trying to pair AI-powered products and usage-based pricing with tighter cost control and ongoing share buybacks.

Risks and rewards investors are weighing right now

• Consistent outperformance against internal guidance, record operating margins and free cash flow, and a long-running buyback that has already retired 45,900,781 shares support the view that management is focused on shareholder returns.
• Expanded AI partnerships and a larger base of US$1m plus enterprise customers point to broader adoption of LiveRamp’s clean-room and measurement tools across sectors such as commerce media, travel and finance.
• Revenue guidance for the next quarter at US$203m to US$207m is only high single digit growth and was described as slightly below some analyst expectations, which may keep sentiment cautious despite the profit beat.
• Existing narratives continue to highlight concentration in large customers, rising competition from bigger software platforms, and ongoing privacy regulation as factors that could pressure growth and margins over time.

What to watch next

From here, the key things to track are whether usage-based pricing keeps lifting revenue per customer, how quickly AI-related products contribute to earnings, and whether future buybacks remain as active now that a large portion of the long-running program is complete. If you want to see how different investors are joining the dots between these earnings, the guidance and longer term expectations, take a look at the community views and detailed narratives for LiveRamp on this dedicated page.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.