Q4 2024 Liveramp Holdings Inc Earnings Call Transcript
Key Points
- Q4 revenue and operating income exceeded expectations, with total revenue up 16% and operating income up 20%.
- Subscription revenue grew by 11%, and marketplace revenue surged by 38%.
- Annual Recurring Revenue (ARR) grew by 7%, marking the fastest quarterly growth since Q3 FY 23.
- Significant new contracts were signed, including a three-year contract with a major home improvement retailer and a major pharmacy retailer.
- The company successfully upsold existing customers, with a notable seven-figure upsell with a major pharmaceutical manufacturer.
- Despite improvements, subscription net retention is still below desired levels at 103%.
- The average sales cycle has increased slightly, indicating potential delays in closing deals.
- There is continued softness with smaller, low Annual Contract Value (ACV) customers, particularly in the ad tech cohort.
- The delay in Google's third-party cookie deprecation could impact short-term opportunities and revenue.
- Stock-based compensation is expected to increase significantly, impacting operating margins.
Good afternoon, ladies and gentlemen. And welcome to Lifetime's fiscal 2024 Fourth Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. As a reminder, this conference call is being recorded. I would now like to turn the call over to your host Drew Borst, Vice President of Investor Relations.
Thank you, operator. Good afternoon, and welcome. Thank you for joining our fiscal 2024 Fourth Quarter Earnings Call. With me today are Scott Howe, our CEO, and Lauren Dillard, our CFO.
Today's press release and this call may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For a detailed description of these risks,
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