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Q3 FY26 Earnings Presentation Feb 5, 2026
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Cautionary Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, regarding LiveRamp’s (the "Company“) future business prospects. These statements involve risks and uncertainties that could cause the Company’s actual results to differ materially, including, but not limited to competitive pressures, adverse economic and geo-political conditions, the ability to attract and retain qualified employees, litigation and governmental investigations, changes in and failure to keep up with rapidly changing technology practices in our products and offerings, physical and cybersecurity threats to our facilities, network, data security systems and proprietary information and technology, access to and availability of data, and changes in our industry, cultural and consumer preferences, legislation, governmental regulations and other factors and environments that may impair our and our customers' ability to collect, process, manage, aggregate, store and/or use data of the type necessary for our business. These issues and other factors that may be identified from time to time in the Company’s reports filed with the Securities and Exchange Commission (the SEC) could cause actual results to differ materially from those indicated in the forward-looking statements. For a detailed discussion of these and other risk factors, please refer to the Company’s most recent Annual Report on Form 10-K and other filings the Company makes from time to time with the SEC, which are available on the SEC’s website (http://www.sec.gov). Investors are cautioned not to place undue reliance on the Company’s forward-looking statements, which speak only as of the date such statements are made. The Company does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this presentation, or to reflect the occurrence of unanticipated events. © 2026 LiveRamp. All rights reserved. 2
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The Company reports all financial information required in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand the Company’s performance. Whenever the Company uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most directly comparable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measure included in the financial tables accompanying the Company’s press release and on the Company’s investor relations website: https://investors.liveramp.com/financial-information/quarterly results (instructions on how to access this information are included in the appendix to this presentation). These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. The use of certain non-GAAP financial measures requires management to make estimates and assumptions regarding amounts of assets and liabilities and the amounts of revenue and expense during the reporting periods. The Company bases its estimates on historical experience and assumptions that it believes are reasonable. Actual results could differ from those estimates. 3 Use of Non-GAAP Information © 2026 LiveRamp. All rights reserved.
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4 Financial Highlights Predictable, Recurring Revenue $527M 7% YoY Growth Annual Recurring Revenue (ARR) 1 76% Proportion of Revenue from Subscriptions (TTM) Strong KPIs $710M Remaining Performance Obligations (RPO) 8 140 Customers with $1M+ annualized subscription revenue 2 Retention Rates 101% Subscription Net Retention 6 103% Platform Net Retention 7 Profitable Model (TTM) 73% Non-GAAP Gross Margin 21% Non-GAAP Operating Margin Cash Generative (TTM) $170M Free Cash Flow 21% Free Cash Flow Margin 11 Strong Balance Sheet $403M Cash + ST Investments $0 Gross Debt See appendix and accompanying press release for GAAP equivalent metrics See Appendix for footnote definitions Q3 FY26 © 2026 LiveRamp. All rights reserved.
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5 Summary Financial Results $M, except per share amounts GAAP Non-GAAP 3 Q326 YoY Q326 YoY Revenue $212 9% $212 9% Gross Profit $153 9% $156 7% Gross Margin 72% - 74% (1pts) Operating Income $40 169% $62 36% Operating Margin 19% 11pts 29% 6pts Net Earnings $40 256% $49 32% EPS $0.62 269% $0.76 37% Share Count 4 64.3 (4%) 64.3 (4%) See Appendix for footnote definitions© 2026 LiveRamp. All rights reserved.
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Totals may not foot due to rounding. 6See Appendix for footnote definitions Revenue Summary $M Revenue by Type Q326 Q325 YoY Subscription $158 $146 9% Marketplace & Other $54 $50 8% Total $212 $195 9% Revenue by Geography Q326 Q325 YoY US $200 $185 8% International 5 $12 $10 18% Total $212 $195 9% © 2026 LiveRamp. All rights reserved.
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7 Free Cash Flow $M, Non-GAAP Q326 Q325 Operating Cash Flow $67 $45 Capital Expenditures ($0) ($0) Free Cash Flow $67 $45 Totals may not foot due to rounding. © 2026 LiveRamp. All rights reserved.
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8 Key Growth Metrics $M Subscription Net Retention 6 Q325 Q425 Q126 Q226 Q326 Subscription Net Retention (SNR) 108% 104% 104% 102% 101% 1 Platform Net Retention 72 Q325 Q425 Q126 Q226 Q326 Platform Net Retention (PNR) 111% 106% 105% 105% 103% ARR Growth 13 Q325 Q425 Q126 Q226 Q326 ARR $491 $504 $502 $516 $527 YoY % 10% 8% 5% 7% 7% TTM Marketplace Revenue Growth4 Q325 Q425 Q126 Q226 Q326 TTM Marketplace & Other $171 $177 $182 $190 $194 YoY % 26% 21% 17% 16% 13% TTM Data Marketplace $133 $137 $140 $145 $147 YoY % 24% 19% 16% 14% 10% See Appendix for footnote definitions© 2026 LiveRamp. All rights reserved.
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Revenue Detail $M Totals may not foot due to rounding. 9© 2026 LiveRamp. All rights reserved. Subscription Revenue: Q325 Q425 Q126 Q226 Q326 Fixed % of Total Subscription 84% 85% 85% 85% 83% Usage % of Total Subscription 16% 15% 15% 15% 17% Total Subscription Revenue $146 $145 $148 $150 $158 YoY growth 10% 9% 10% 5% 9% Marketplace & Other Revenue: Data Marketplace $39 $34 $35 $38 $40 YoY growth 18% 13% 9% 14% 4% Other Revenue $11 $10 $11 $12 $13 YoY growth 27% 16% 25% 32% 20% Total Marketplace & Other Revenue $50 $44 $46 $50 $54 YoY growth 20% 14% 13% 18% 8% Total Revenue: Total Revenue $195 $189 $195 $200 $212 YoY growth 12% 10% 11% 8% 9%
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10 434 145 Q2 26 374 471 130 239 Q2 25 Q3 25 $504 $579 $710 Totals may not foot due to rounding. Remaining Performance Obligations (RPO) 8 430 222 $652 Q4 25 Non-Current Current $M 451 239 $690 Q1 26 See Appendix for footnote definitions© 2026 LiveRamp. All rights reserved. 471 239 $710 (up 23% YoY) (up 9% YoY) Q3 26
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Outlook
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Q4 FY26 Revenue $203-$207 $810-$814 YoY Growth 8%-10% 9% GAAP Operating Income ~$16 ~$84 Non-GAAP Operating Income 9 ~$38 ~$180 Q4 & FY26 Outlook FY26 Ongoing Stock-based Comp $69 Acquisition-related Stock-based Comp $12 Total Stock-based Comp YoY $81 (25%) Share Count (Basic) 64 Share Count (Diluted) 65 Capital Spending (% of rev) <1% Non-GAAP Tax Rate 25% GAAP Tax Rate 10 7% Other Items (~$M) 12 ($M) Totals may not foot due to rounding. See Appendix for footnote definitions© 2026 LiveRamp. All rights reserved.
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Appendix
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Global North America EU LATAM APAC Interoperable Scale 500+ Ecosystem Partners Multi-Channel Open Exchange Private Marketplace Direct Walled Garden CTV MarTech At Scale & Effective 313% ROI for Brands IDC Marketscape: Leader in Data Clean Rooms Built with the strongest security and privacy controls Authenticated Consented Encrypted Publisher Controlled Network Scale PAIR Not reliant on HEM matching More than 92% of US consumer time spent online 14 © 2026 LiveRamp. All rights reserved.
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15 Customer Success Stories LiveRamp Data Collaboration Platform product demo videos Lyft: Using LiveRamp, Lyft Media helps brands responsibly connect ride insights with their own first-party data, to power personalized ads Albertsons Media Collective: Delivers stronger brand and customer experiences with data collaboration United Airlines: Unify fragmented travel touchpoints with personalized messages DICK’S Sporting Goods: Power a winning media network, turning athlete insights into measurable impacts Illustrative case studies Eli Lilly: Harnesses First-Party Data to Transform Its Customer Experience Pinterest: Demonstrates Business Value and Depends Brand Partnerships with Data Collaboration IDC MarketScape: LiveRamp recognized as Leader in Data Clean Rooms for Marketing & Advertising Forrester: Total Economic Impact study reveals the LiveRamp Data Collaboration Platform can deliver a 313% ROI for brands © 2026 LiveRamp. All rights reserved.
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GAAP to Non-GAAP Schedules and Metrics 16 GAAP to Non-GAAP Trended Schedules, Reconciliations, EBITDA and EPS metrics are presented on our investor relations website: https://investors.liveramp.com/financial -information/quarterly-results © 2026 LiveRamp. All rights reserved.
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1 Annualized Recurring Revenue (“ARR”) is defined as the last month of quarter fixed subscription revenue annualized and does not include any variable or non-recurring revenue amounts. This metric is forward looking and does not factor in potential contraction, nor does it include potential additions to recurring revenue. 2 $1M clients are counted as $250k or more subscription-only revenue in the quarter. 3 Non-GAAP financial results represent continuing operations less excluded items (i.e. non-cash stock compensation, purchased intangible asset amortization, and restructuring and transformation charges). 4 Fully diluted shares outstanding are used to calculate EPS in periods of profitability. Basic shares outstanding are used to calculate EPS during periods with a net loss. 5 International revenue growth adjusted for impact of changes in foreign currency exchange rates is approximately 13%. 6 Subscription net retention (“SNR”) is defined as the current quarter subscription revenue (net) from customers who have been on our platform for one year or more, divided by the prior year quarter subscription revenue (net), inclusive of upsell, churn (lost contract), downsell (contract reduction), and variable revenue changes. 7 Platform net retention (“PNR”) is defined as the current quarter subscription and marketplace revenue (net) from customers who have been on our platform for one year or more, divided by the prior year quarter subscription and marketplace revenue (net), inclusive of upsell, churn (lost contract), downsell (contract reduction), and variable revenue changes. 8 Remaining Performance Obligations (“RPO”) are defined as all future revenue under contract that has not yet been recognized as revenue. Current RPO represents future revenue under contract that is expected to be recognized as revenue in the next 12 months. RPO is influenced by several factors including seasonality, the timing of renewals, average contract terms, and foreign currency exchange rates. 9 Non-GAAP guidance excludes non-cash stock compensation, purchased intangible asset amortization and restructuring and related charges. 10 GAAP tax rate impacted by US tax law enacted in July 2025 which included favorable transition provisions providing for the deduction of previously capitalized domestic research and development expenditures. 11 TTM Free Cash Flow Margin (“TTM FCF Margin”) – calculated trailing twelve months Free Cash Flow (Net cash provided or used in operating activities less capital expenditures) divided by trailing twelve months Revenue in the same period. Q326 TTM Free Cash Flow is $170M and Q326 TTM Revenue is $796M resulting in TTM FCF Margin of 21%. 17 Footnotes © 2026 LiveRamp. All rights reserved.
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Thank You