Quick Summary:
AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(Dollars in thousands) For the nine months ended December 31, 2024 2023Cash flows from operating activities: Net earnings5,453 17,254Earnings from discontinued operations, net of tax(1,688) (985)Non-cash operating activities: Depreciation and amortization13,404 7,685Loss on disposal or impairment of assets119 1,213Lease-related impairment and restructuring charges(36) 2,315Provision for doubtful accounts1,148 307Impairment of goodwill— 2,875Deferred income taxes49 40Non-cash stock compensation expense83,813 46,524Changes in operating assets and liabilities: Accounts receivable, net(21,640) (41,036)Deferred commissions3,645 (7,142)Other assets(2,598) 912Accounts payable and other liabilities(8,165) 8,754Income taxes3,953 29,560Deferred revenue13,928 9,737Net cash provided by operating activities91,385 78,013Cash flows from investing activities: Capital expenditures(749) (2,464)Cash paid in acquisitions, net of cash received(1,951) —Purchases of investments(1,967) (24,385)Proceeds from sales of investments26,989 25,750Purchases of strategic investments(1,400) (1,000)Net cash provided by (used in) investing activities20,922 (2,099)Cash flows from financing activities: Proceeds related to the issuance of common stock under stock and employee benefit plans8,631 7,221Shares repurchased for tax withholdings upon vesting of stock-based awards(9,305) (5,116)Acquisition of treasury stock(75,751) (45,325)Net cash used in financing activities(76,425) (43,220)Cash flows from discontinued operations: From operating activities2,486 985Effect of exchange rate changes on cash(474) 819 Net change in cash, cash equivalents and restricted cash37,894 34,498Cash, cash equivalents and restricted cash at beginning of period339,471 464,448Cash, cash equivalents and restricted cash at end of period377,365 498,946 Supplemental cash flow information: Cash paid (received) for income taxes, net from continuing operations21,990 (2,440)Cash received for income taxes, net from discontinued operations(2,486) (1,507)Cash received for tenant improvement allowances(1,758) —Cash paid for operating lease liabilities7,372 7,699 Non-cash investing and financing activities: Operating lease assets obtained in exchange for operating lease liabilities2,327 11,677Operating lease assets, and related lease liabilities, relinquished in lease terminations(555) (4,486)Purchases of property, plant and equipment remaining unpaid at period end85 1,218Excise tax payable on net stock repurchases64 — LIVERAMP HOLDINGS, INC AND SUBSIDIARIESCALCULATION OF FREE CASH FLOW (1)(Unaudited)(Dollars in thousands) 6/30/20239/30/202312/31/20233/31/2024FY2024 6/30/20249/30/202412/31/2024FY2025 Net cash provided by (used in) operating activities$25,693 $35,764 $16,556 $27,643 $105,656 $(9,328)$55,596 $45,117 $91,385 Less: Capital expenditures (53) (200) (2,211) (1,791) (4,255) (226) (241) (282) (749) Free Cash Flow$25,640 $35,564 $14,345 $25,852 $101,401 $(9,554)$55,355 $44,835 $90,636 (1) This presentation includes non-GAAP measures.
AND SUBSIDIARIESRECONCILIATION OF GAAP TO NON-GAAP EPS (1)(Unaudited)(Dollars in thousands, except per share amounts) For the three months ended December 31, For the nine months ended December 31, 2024 2023 2024 2023 Income from continuing operations before income taxes18,706 21,808 29,586 43,566Income tax expense9,184 8,429 25,821 27,297Net earnings from continuing operations9,522 13,379 3,765 16,269Earnings from discontinued operations, net of tax1,688 598 1,688 985Net earnings11,210 13,977 5,453 17,254 Basic earnings per share0.17 0.21 0.08 0.26Diluted earnings per share0.17 0.21 0.08 0.25 Excluded items: Purchased intangible asset amortization (cost of revenue)3,686 1,181 11,280 5,688Non-cash stock compensation (cost of revenue and operating expenses)26,760 17,497 83,813 46,524Restructuring and merger charges (gains, losses, and other)149 2,502 752 9,192Transformation costs (general and administrative)— — — 1,875Total excluded items from continuing operations30,595 21,180 95,845 63,279 Income from continuing operations before income taxes and excluding items49,301 42,988 125,431 106,845Income tax expense (2)12,421 10,732 30,537 25,935Non-GAAP net earnings from continuing operations36,880 32,256 94,894 80,910 Non-GAAP earnings per share from continuing operations Basic0.56 0.49 1.43 1.22Diluted0.55 0.47 1.41 1.19 Basic weighted average shares65,631 65,961 66,182 66,247Diluted weighted average shares66,743 67,943 67,505 67,733 (1) This presentation includes non-GAAP measures.
AND SUBSIDIARIESRECONCILIATION OF GAAP TO NON-GAAP EPS (1)(Unaudited)(Dollars in thousands, except per share amounts) FY2024 FY2025 6/30/20239/30/202312/31/20233/31/2024FY2024 6/30/20249/30/202412/31/2024FY2025 Income (loss) from continuing operations before income taxes7,11914,63921,808(9,205)34,361 (804)11,68418,70629,586Income tax expense (benefit)8,70510,1638,429(3,027)24,270 6,6859,9529,18425,821Net earnings (loss) from continuing operations(1,586)4,47613,379(6,178)10,091 (7,489)1,7329,5223,765 Earnings from discontinued operations, net of tax-3875988051,790 --1,6881,688 Net earnings (loss)(1,586)4,86313,977(5,373)11,881 (7,489)1,73211,2105,453 Earnings (loss) per share: Basic(0.02)0.070.21(0.08)0.18 (0.11)0.030.170.08Diluted(0.02)0.070.21(0.08)0.17 (0.11)0.030.170.08 Excluded items: Purchased intangible asset amortization (cost of revenue)3,2901,2171,1813,0978,785 3,8463,7483,68611,280Non-cash stock compensation (cost of revenue and operating expenses)13,29215,73517,49724,78071,304 27,98529,06826,76083,813Restructuring and merger charges (gains, losses, and other)1166,5742,5022,51611,708 206397149752Transformation costs (general and administrative)1,875---1,875 ----Total excluded items from continuing operations18,57323,52621,18030,39393,672 32,03733,21330,59595,845 Income from continuing operations before income taxes and excluding items25,69238,16542,98821,188128,033 31,23344,89749,301125,431Income tax expense (2)6,1679,03610,7323,94729,882 7,37110,74512,42130,537Non-GAAP net earnings from continuing operations19,52529,12932,25617,24198,151 23,86234,15236,88094,894 Non-GAAP earnings per share from continuing operations Basic0.290.440.490.261.48 0.360.520.561.43Diluted0.290.430.470.251.45 0.350.510.551.41 Basic weighted average shares66,49766,28465,96166,32366,266 66,62166,29465,63166,182Diluted weighted average shares67,38867,86867,94368,47167,918 68,46367,30966,74367,505 Some totals may not add due to rounding (1) This presentation includes non-GAAP measures.
