Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in forward-looking statements are economic uncertainties that could impact us or our suppliers, customers and partners, including, geo-political circumstances, including risk related to tariffs and other trade restrictions, the possibility of a recession, general inflationary pressure and high interest rates; the ability and willingness of our customers to renew their agreements with us upon their expiration; our ability to add new customers and upsell within our subscription business; our reliance upon partners, including data suppliers, who may withdraw or withhold data from us; increased competition and rapidly changing technology that could impact our products and services; the risk that we fail to realize the potential benefits of or have difficulty integrating acquired businesses; and our inability to attract, motivate and retain talent. ended March 31, 2025 2024 Cash flows from operating activities: Net loss (6,267 ) (5,373 ) Earnings from discontinued operations, net of tax — (805 ) Non-cash operating activities: Depreciation and amortization 3,803 3,823 Loss on disposal or impairment of assets 44 6 Lease-related impairment and restructuring charges (28 ) (546 ) Gain on sale of strategic investments (515 ) — Loss on marketable equity securities 206 — Provision for doubtful accounts (453 ) 1,947 Deferred income taxes (496 ) (498 ) Non-cash stock compensation expense 24,166 24,780 Changes in operating assets and liabilities: Accounts receivable, net 25,187 8,700 Deferred commissions 46 (3,971 ) Other assets 4,703 8,514 Accounts payable and other liabilities 11,738 (246 ) Income taxes (523 ) (7,285 ) Deferred revenue 969 (1,403 ) Net cash provided by operating activities 62,580 27,643 Cash flows from investing activities: Capital expenditures (293 ) (1,791 ) Cash paid in acquisitions, net of cash received — (170,281 ) Purchases of investments — (24,509 ) Proceeds from sales of investments — 25,000 Proceeds from sale of strategic investment 763 — Net cash provided by (used in) investing activities 470 (171,581 ) Cash flows from financing activities: Proceeds related to the issuance of common stock under stock and employee benefit plans 202 1 Shares repurchased for tax withholdings upon vesting of stock-based awards (1,026 ) (719 ) Acquisition of treasury stock (25,447 ) (15,177 ) Net cash used in financing activities (26,271 ) (15,895 ) Net cash provided by (used in) continuing operations 36,779 (159,833 ) Cash flows from discontinued operations: From operating activities (798 ) 805 Net cash provided by (used in) discontinued operations (798 ) 805 Net cash provided by (used in) continuing and discontinued operations 35,981 (159,028 ) Effect of exchange rate changes on cash 580 (447 ) Net change in cash, cash equivalents and restricted cash 36,561 (159,475 ) Cash, cash equivalents and restricted cash at beginning of period 377,365 498,946 Cash, cash equivalents and restricted cash at end of period 413,926 339,471 Supplemental cash flow information: Cash paid for income taxes, net from continuing operations 558 4,905 Cash received for income taxes, net from discontinued operations — (1,258 ) Cash paid for operating lease liabilities 2,426 2,594 Operating lease assets obtained in exchange for operating lease liabilities — 148 Operating lease assets, and related lease liabilities, relinquished in lease terminations (40 ) — Purchases of property, plant and equipment remaining unpaid at period end 20 104 Marketable equity securities obtained in disposition of strategic investment 652 — Excise tax payable on net stock repurchases 64 — ended March 31, 2025 2024 Cash flows from operating activities: Net earnings (loss) (814 ) 11,881 Earnings from discontinued operations, net of tax (1,688 ) (1,790 ) Non-cash operating activities: Depreciation and amortization 17,207 11,508 Loss on disposal or impairment of assets 85 1,219 Lease-related impairment and restructuring charges 14 1,769 Gain on sale of strategic investments (515 ) — Loss on marketable equity securities 206 — Provision for doubtful accounts 695 2,254 Impairment of goodwill — 2,875 Deferred income taxes (447 ) (458 ) Non-cash stock compensation expense 107,979 71,304 Changes in operating assets and liabilities: Accounts receivable, net 3,547 (32,336 ) Deferred commissions 3,691 (11,113 ) Other assets 2,105 9,426 Accounts payable and other liabilities 3,573 8,508 Income taxes 3,430 22,275 Deferred revenue 14,897 8,334 Net cash provided by operating activities 153,965 105,656 Cash flows from investing activities: Capital expenditures (1,042 ) (4,255 ) Cash paid in acquisitions, net of cash received (1,951 ) (170,281 ) Purchases of investments (1,967 ) (48,894 ) Proceeds from sales of investments 26,989 50,750 Proceeds from sale of strategic investment 763 — Purchases of strategic investments (1,400 ) (1,000 ) Net cash provided by (used in) investing activities 21,392 (173,680 ) Cash flows from financing activities: Proceeds related to the issuance of common stock under stock and employee benefit plans 8,833 7,222 Shares repurchased for tax withholdings upon vesting of stock-based awards (10,331 ) (5,835 ) Acquisition of treasury stock (101,198 ) (60,502 ) Net cash used in financing activities (102,696 ) (59,115 ) Net cash provided by (used in) continuing operations 72,661 (127,139 ) Cash flows from discontinued operations: From operating activities 1,688 1,790 Net cash provided by discontinued operations 1,688 1,790 Net cash provided by (used in) continuing and discontinued operations 74,349 (125,349 ) Effect of exchange rate changes on cash 106 372 Net change in cash, cash equivalents and restricted cash 74,455 (124,977 ) Cash, cash equivalents and restricted cash at beginning of period 339,471 464,448 Cash, cash equivalents and restricted cash at end of period 413,926 339,471 Supplemental cash flow information: Cash paid for income taxes, net from continuing operations 22,548 2,465 Cash received for income taxes, net from discontinued operations (2,486 ) (2,765 ) Cash received for tenant improvement allowances (2,628 ) — Cash paid for operating lease liabilities 9,798 10,293 Operating lease assets obtained in exchange for operating lease liabilities 2,327 11,825 Operating lease assets, and related lease liabilities, relinquished in lease terminations (595 ) (4,486 ) Purchases of property, plant and equipment remaining unpaid at period end 20 104 Marketable equity securities obtained in disposition of strategic investment 652 — Excise tax payable on net stock repurchases 128 —
Author: LiveRamp, Inc.
Published at: 2025-05-21 22:43:00
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