LiveRamp Holdings, Inc. (RAMP): History, Ownership, Mission, How It Works & Makes Money

With data privacy getting tighter and third-party cookies fading, how do you defintely connect customer data across channels without losing precision? LiveRamp Holdings, Inc. (RAMP) is the leading data collaboration platform that answers this question, reporting a strong fiscal year 2025 total revenue of $746 million, a solid 13% increase year-over-year. That kind of growth shows their Data Collaboration Network is becoming essential for marketers and media owners who need a connected customer view. Plus, what really signals financial strength is the surge in operating cash flow, which jumped 46% to a record $154 million; you need to understand how they achieved that operational efficiency while still scaling their core business.

LiveRamp Holdings, Inc. (RAMP) History

The story of LiveRamp Holdings, Inc. is less a single founding moment and more a strategic evolution, beginning with a data brokerage firm and culminating in a pure-play data connectivity platform. You need to understand the company's roots in Acxiom, founded in 1969, but the modern, publicly-traded LiveRamp (RAMP) truly began with the 2011 founding of the LiveRamp technology entity, which was later acquired and became the core of the business.

Given Company's Founding Timeline

The current LiveRamp Holdings, Inc. is the successor to Acxiom Corporation, but its namesake technology was founded as a startup in 2011. This distinction is critical for understanding its current focus on a neutral, open data ecosystem.

Year established

The LiveRamp technology was founded in 2011. The predecessor company, Acxiom, was founded in 1969 as Demographics, Inc.

Original location

San Francisco, California, U.S.

Founding team members

The LiveRamp entity was co-founded by Auren Hoffman and Travis May as a spinout of RapLeaf.

Initial capital/funding

While the LiveRamp entity was a spinout, its first major financial milestone was its acquisition by Acxiom in 2014 for $310 million, which integrated its data onboarding technology into a public company structure.

Given Company's Evolution Milestones

The company's trajectory shows a clear pivot away from traditional data brokerage toward a privacy-conscious, cloud-based identity and data collaboration platform.

Given Company's Transformative Moments

The most significant shift in the company's history was the decision to sell off the legacy Acxiom Marketing Solutions (AMS) business. Honestly, that was the move that created the LiveRamp you see today.

• The $2.3 Billion Divestiture: Selling the AMS division to Interpublic Group of Companies (IPG) for $2.3 billion in 2018 was the ultimate clean break. This move shed the baggage of being a traditional data broker, allowing the newly named LiveRamp Holdings, Inc. to focus entirely on its software-as-a-service (SaaS) identity and data collaboration platform.
• Pivot to Neutrality: The rebrand to LiveRamp and the subsequent focus on its Authenticated Traffic Solution (ATS) established the company as a neutral, 'plumbing' layer for the digital advertising ecosystem. This was a direct response to the industry's shift away from third-party cookies, positioning LiveRamp for long-term growth.
• 2025 Financial Performance: The fiscal year ending March 31, 2025, confirmed the success of this strategy, with total revenue reaching $746 million, an increase of 13% year-over-year, and subscription revenue hitting $569 million. This shows the model is defintely working. The non-GAAP operating income also rose to $136 million, up from $105 million, demonstrating profitable scale.
• Strategic Acquisitions: Acquisitions like Habu, which enhances their clean room technology, show a commitment to extending their leadership in data collaboration, a key priority for fiscal year 2025. This focus on secure, privacy-enhancing technology (PET) is the roadmap for future growth.

For a deeper dive into who is betting on this strategy, you should read Exploring LiveRamp Holdings, Inc. (RAMP) Investor Profile: Who's Buying and Why?

LiveRamp Holdings, Inc. (RAMP) Ownership Structure

LiveRamp Holdings, Inc. (RAMP) is overwhelmingly controlled by institutional investors, meaning large financial firms-not individual founders or a single family-drive the majority of voting power and strategic direction. This structure is typical for a mature, publicly traded software-as-a-service (SaaS) company, but it means you need to pay close attention to the movements of major funds like BlackRock, Inc. and Vanguard Group Inc.

LiveRamp Holdings, Inc.'s Current Status

LiveRamp Holdings, Inc. is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol RAMP. This public status subjects the company to rigorous reporting requirements from the Securities and Exchange Commission (SEC), providing investors with transparent, albeit complex, quarterly and annual financial data.

As of November 2025, the company's market capitalization is approximately $1.79 billion, with the stock trading around $28 per share. Its public listing ensures a high degree of liquidity, but its high institutional ownership means the stock price can be sensitive to major fund managers adjusting their positions. Exploring LiveRamp Holdings, Inc. (RAMP) Investor Profile: Who's Buying and Why?

LiveRamp Holdings, Inc.'s Ownership Breakdown

The ownership structure is heavily concentrated, with institutional investors holding nearly 94% of the company's shares. This high concentration means that a few hundred large funds hold the key to the company's governance, making shareholder activism or a major block trade a potent force.

Here's the quick math: with institutional ownership at 93.83% and insider ownership at 3.37%, the remaining public float for individual investors is quite small, at just 2.80%. This low public float can sometimes contribute to higher stock volatility.

LiveRamp Holdings, Inc.'s Leadership

The company is steered by a seasoned executive team with deep roots in the data and digital advertising space, ensuring strategic continuity. The average tenure of the management team is about 4.3 years, which is defintely a solid foundation for execution.

• Scott Howe: Chief Executive Officer (CEO) and Director. He has led the company since 2011, providing long-term strategic vision.
• Lauren Dillard: Executive Vice President (EVP) and Chief Financial Officer (CFO). She manages all financial operations and investor relations.
• Mohsin Hussain: EVP of Engineering and Chief Technology Officer (CTO). He is responsible for the company's world-class technology platform and innovation.
• Vihan Sharma: Chief Revenue Officer (CRO). He oversees all global commercial functions, focusing on growth and operations.
• Gerald Jones: EVP, Chief Ethics and Legal Officer. His role is crucial in navigating the complex global data privacy and regulatory environment.

The Board of Directors is chaired by Clark Kokich, the Independent Non-Executive Chairman, providing external oversight to the executive team. This governance structure, with an independent chairman and a long-tenured CEO, aims to balance strategic ambition with fiduciary responsibility.

LiveRamp Holdings, Inc. (RAMP) Mission and Values

LiveRamp Holdings, Inc. (RAMP) is fundamentally driven by a mission to connect the digital ecosystem in a privacy-first way, establishing itself as the neutral, trusted layer for data collaboration, not just a vendor. This cultural DNA, built on six core principles, is what allowed the company to deliver strong results in fiscal year 2025, including a total revenue of $746 million.

LiveRamp Holdings, Inc.'s Core Purpose

When you look past the balance sheet-which, by the way, saw non-GAAP operating income hit $136 million in FY2025-you see a company focused on solving one of the hardest problems in modern marketing: connecting data without sacrificing consumer trust. The mission and values are the guardrails for that complex work.

Official mission statement

The core purpose is to be the essential infrastructure for data-driven experiences. It's a precision-focused goal that guides all product development, especially as third-party cookies phase out. LiveRamp's mission is clear and technical, but the outcome is simple: better, more relevant ads for consumers and better measurement for businesses.

• Enable best-in-class addressable reach and connectivity across every consumer experience by continuing to develop the largest and most useful data collaboration network.

Here's the quick math: Subscription revenue was $569 million in FY2025, which represents 76% of total revenue, showing the mission is directly tied to the stable, recurring business model.

Vision statement

LiveRamp's long-term vision is to be the foundational, trusted utility for the entire customer experience economy, especially as artificial intelligence (AI) and privacy regulations reshape the market. The company aims to be the middleware for a world where all advertising is data-driven and accountable.

• Shape the future of responsible data collaboration in an AI-driven, outcomes-focused world.
• Achieve the 'Rule of 40' by fiscal year 2028, balancing growth and profitability for long-term shareholder value.
• Establish the industry's most extensive data collaboration network, connecting over 900 leading advertisers, platforms, and publishers.

This vision is a trend-aware realist's view. You can see the focus on the future in the record-high net cash provided by operating activities, which reached $154 million in FY2025, providing capital for those critical AI and network investments.

LiveRamp Holdings, Inc. slogan/tagline

While LiveRamp doesn't use a single, catchy, consumer-facing slogan, their identity is encapsulated in the functional, authoritative description of their platform. They are the essential link, the one you defintely need to build on.

• The trusted, collaboration platform.
• Middleware for the customer experience economy.

This focus on trust is paramount, especially since their platform enables privacy-preserving data connectivity (Clean Rooms) across a vast network. This is the bedrock of their value proposition. For a deeper dive into the numbers, check out Breaking Down LiveRamp Holdings, Inc. (RAMP) Financial Health: Key Insights for Investors.

Core Values and Cultural DNA

LiveRamp's culture is defined by a belief in 'exceptionalism,' which they pursue through six guiding principles. This isn't just fluffy HR talk; these values directly influence their product's neutrality and their customer-first approach, which is vital for maintaining a data collaboration network.

• We believe in our own exceptionalism: Hustle to be the absolute best, not just good or great, in everything from product to customer results.
• We respect people and respect time: No tolerance for selfish behavior; cut unnecessary bureaucracy and inefficient processes wherever possible.
• We empower people: Trust employees closest to the work to make the right decisions, with leadership setting the common goals.
• We say what we mean, and do what we say: Hold ourselves accountable for high goals and take full responsibility when falling short.

The emphasis on integrity and data ethics is a strategic moat (a competitive advantage) in the data industry, ensuring brands feel comfortable sharing first-party data. This commitment is what keeps the 128 customers whose annualized subscription revenue exceeds $1 million coming back.

LiveRamp Holdings, Inc. (RAMP) How It Works

LiveRamp Holdings, Inc. (RAMP) operates as the essential digital middleman, solving the foundational problem of identity resolution in a privacy-first world. It connects a company's fragmented customer data-from offline purchases to online clicks-to a single, persistent, pseudonymous identifier called RampID, enabling precise targeting and measurement across the entire advertising ecosystem without relying on third-party cookies.

The company made $746 million in total revenue for its fiscal year 2025, showing that the market is defintely prioritizing this identity-based approach. That figure includes $569 million from subscription revenue alone. This business is built on a network effect: the more partners you have, the more valuable the whole system becomes for everyone.

LiveRamp Holdings, Inc.'s Product/Service Portfolio

LiveRamp Holdings, Inc.'s Operational Framework

LiveRamp's operational framework centers on its core identity resolution engine, which is the mechanism for value creation. It transforms raw, sensitive customer data into a usable, privacy-compliant asset for marketing and measurement.

• Data Ingestion and Pseudonymization: Clients securely upload their personally identifiable information (PII) like names, emails, and postal addresses, or pseudonymous identifiers like mobile device IDs (MAIDs) and cookies.
• Identity Resolution via AbiliTec: The proprietary AbiliTec identity graph resolves the PII into a stable, non-PII, person- or household-based identifier called the AbiliTec ID. This is the enterprise identity spine.
• RampID Translation: The AbiliTec ID is then translated into the RampID, which is LiveRamp's universal, privacy-centric identifier. This RampID is the key that connects the client's data to the vast LiveRamp Data Collaboration Network.
• Activation and Measurement: The RampID is used to activate audiences for targeting across 500+ digital publishers and platforms, and to close the loop for measurement, ensuring campaigns are tracked against real-world outcomes. The process is fully governed, meaning data usage rules are enforced automatically.

Here's the quick math: You convert messy, siloed PII into one clean, connected, and privacy-safe token, and then you can use that token to talk to hundreds of partners. That's the entire business model.

LiveRamp Holdings, Inc.'s Strategic Advantages

The company's success is tied directly to its scale and its position as a neutral, trusted party in a market increasingly focused on first-party data and consumer privacy.

• Unmatched Network Effect: LiveRamp has a two-sided network with significant scale, including over 500 brand advertisers and ad agency customers, 500+ digital publishers (from open web to CTV), and over 200 active data providers. This density makes the platform more valuable with every new participant.
• Privacy-First, Durable Identity: The RampID is a persistent, person-based identifier that works across all channels-including cookieless browsers and Connected TV (CTV)-making it a future-proof alternative to third-party cookies. It's the foundation for authenticated addressability.
• Neutrality and Interoperability: Unlike media companies that have their own walled gardens (closed ecosystems), LiveRamp operates as a neutral layer. This allows it to connect data across all major cloud providers (AWS, Google Cloud, Snowflake) and media destinations, which is crucial for large enterprises.
• AI-Powered Data Collaboration: The platform is rapidly integrating artificial intelligence for use cases like AI-Assisted Segmentation and AI Governance, positioning LiveRamp as a critical partner for clients looking to feed their AI models with rich, proprietary customer data.

Want to dig deeper into the institutional backing of this identity infrastructure? Exploring LiveRamp Holdings, Inc. (RAMP) Investor Profile: Who's Buying and Why?

LiveRamp Holdings, Inc. (RAMP) How It Makes Money

LiveRamp Holdings, Inc. makes money by providing a subscription-based data collaboration platform that allows companies to connect, control, and activate their first-party customer data across a vast digital ecosystem without relying on third-party cookies. The core of their financial engine is selling access to their identity resolution service, which creates Mission Statement, Vision, & Core Values of LiveRamp Holdings, Inc. (RAMP). a persistent, privacy-safe identifier called RampID.

LiveRamp Holdings, Inc.'s Revenue Breakdown

The company operates on a clear dual-stream model, dominated by predictable, high-margin subscription revenue. For the fiscal year ended March 31, 2025, LiveRamp's total revenue was $746 million, marking a 13% increase year-over-year.

Subscription Revenue, which totaled $569 million in FY2025, grew by 11% and is the foundation of the business, representing platform access and identity resolution services. Marketplace & Other Revenue, which reached $177 million, grew faster at 21% and includes data transactions, usage-based fees, and professional services. That Marketplace growth is defintely something to watch.

Business Economics

LiveRamp's economic fundamentals are rooted in the Software-as-a-Service (SaaS) model, focusing on high gross margins and strong customer retention, which is essential for long-term value creation. Their primary pricing strategy for large enterprises is a tiered subscription model, often customized based on the volume of data records processed and the complexity of the platform features utilized.

• Pricing Structure: Enterprise customers pay annual subscription fees for platform access, which can range from a Basic tier to a Premium Enterprise tier, plus they pay transaction fees for data activation and usage on the Marketplace.
• Strategic Pricing Shift: As of late 2025, LiveRamp is piloting a new usage-based pricing model, particularly for the mid-market segment, to diversify revenue and capture value based on actual platform consumption, like the number of RampIDs resolved or connections made.
• High-Value Customers: The number of direct subscription customers whose annualized subscription revenue exceeds $1 million grew by 11% in FY2025, reaching a new high of 128. This group's aggregate subscription revenue grew by 13%, outpacing the overall subscription growth rate.
• Net Revenue Retention (NRR): The platform's net retention rate was 106% for the fourth quarter of FY2025, meaning existing customers are not only sticking around but are also spending more on the platform year-over-year. That's a healthy sign of product stickiness.

LiveRamp Holdings, Inc.'s Financial Performance

The company's financial performance in FY2025 shows a balanced approach to growth and profitability, moving toward the coveted 'Rule of 40' target. Total revenue grew by 13% to $746 million.

• Gross Margin: The non-GAAP gross margin remained strong at 74% for FY2025, indicating that the core platform delivery is highly efficient, though it compressed slightly by one percentage point year-over-year.
• Profitability: LiveRamp delivered a non-GAAP operating income of $136 million, which expanded its non-GAAP operating margin to 18%-a 2 percentage point expansion from the prior year. This shows good cost management and operating leverage.
• Earnings Per Share (EPS): Non-GAAP diluted EPS was $1.70 for the fiscal year.
• Cash Flow: Operating cash flow surged by 46% year-over-year to a record $154 million in FY2025, providing significant capital for strategic investments and share repurchases.
• Shareholder Returns: The company returned $101 million to shareholders through its share repurchase program in fiscal 2025.

LiveRamp Holdings, Inc. (RAMP) Market Position & Future Outlook

LiveRamp Holdings, Inc. is a critical infrastructure provider in the evolving, privacy-first data collaboration ecosystem, positioning its deterministic identity resolution (RampID) as the essential connector for the cookieless future. The company closed its fiscal year 2025 with strong momentum, reporting total revenue of $746 million, a 13% year-over-year increase, and expanding its non-GAAP operating margin to 18%, demonstrating a clear pivot toward profitable growth.

You can defintely anticipate LiveRamp's trajectory to be defined by its success in scaling its high-margin subscription business and capturing market share in nascent, high-growth areas like Connected TV and retail media. The core value proposition remains unmatched: secure, privacy-centric data sharing across a fragmented advertising landscape. Breaking Down LiveRamp Holdings, Inc. (RAMP) Financial Health: Key Insights for Investors

Competitive Landscape

LiveRamp operates in a fragmented but highly specialized market, competing with large platforms and niche identity providers. Its core strength lies in its independence and foundational identity layer, the RampID, which provides a durable, privacy-centric connector for data collaboration (clean rooms) and activation across the open web and walled gardens.

Opportunities & Challenges

As of late 2025, LiveRamp is strategically focused on expanding its platform's utility beyond traditional advertising activation into measurement and commerce, while managing internal cost structures. The company's non-GAAP operating income hit $136 million in FY 2025, up from $105 million the prior year, showing the operational leverage is starting to kick in.

Industry Position

LiveRamp is positioned as the neutral, trusted data collaboration layer for the world's largest enterprises, a unique and valuable spot in a market dominated by platform-specific identifiers.

• Identity Leadership: The Authenticated Traffic Solution (ATS), which is the foundation of the RampID, is a leading alternative for cookieless identity, providing a critical service as third-party cookies sunset.
• Customer Quality: The company boasts a high-value client base, ending FY 2025 with 128 customers whose annualized subscription revenue exceeds $1 million, up from 115 in the prior year.
• Financial Health: Net cash provided by operating activities was strong at $154 million in fiscal 2025, providing capital for strategic investments and share repurchases ($101 million in FY 2025).
• Strategic Focus: Management is targeting over 10% revenue growth and expects non-GAAP operating margins to expand to the mid-20s in the coming years, driven by operational streamlining and a shift to usage-based pricing.