Liveramp Holdings Inc (NYSE:RAMP) Q1 2021 Earnings Conference Call - Final Transcript
Aug 10, 2020 • 04:30 pm ET
Good afternoon, ladies and gentlemen, and welcome to LiveRamp's Fiscal 2021 First Quarter Earnings Call. [Operator Instructions]
I would now like to turn the call over to your host, Lauren Dillard, Chief Communications Officer.
Thank you, operator. Good afternoon, and welcome. Thank you for joining us to discuss our fiscal 2021 first quarter results. With me today are Scott Howe, our CEO; and Warren Jenson, President and 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 Investor section of our public filings in the press release. A copy of our press release and financial schedules, including any reconciliation to non-GAAP financial measures is available at liveramp.com. Also during the call today, we will be referring to the slide deck posted on our website.
At this time, I'll turn the call over to Scott.
Thank you, Lauren. Good afternoon, and thanks for joining us today. We hope you and your loved ones are managing to stay safe and healthy during this extraordinary time. The last several months have presented considerable global challenges. Adversity is sometimes sadly unavoidable. But how we respond to adversity is a true measure of the strength of our resolve and quality of our business.
In recent months, our teams at LiveRamp have risen to the challenges of COVID and an unprecedented global recession. They've successfully transitioned to a work-from-home model, while maintaining strong top line momentum, have generated consistent margin growth by improving our processes and efficiencies and above all, they've done an incredible job of delivering great results, products and advice to our global customers and partners. Amazing companies are always built on the foundation of amazing people, and I can't thank my exceptional LiveRamp colleagues enough for their leadership and contributions over the past 6 months. To all of you who may be listening, thank you. In reflecting on LiveRamp's strong performance during the quarter, 3 overarching themes have emerged. And I'll speak to each in turn during my prepared remarks.
First, our SaaS model is proving itself to be durable, predictable and profitable. Second, in a time of uncertainty, our customers and partners in the ecosystem are increasingly counting on LiveRamp for advice and results. And third, the investments we've made in recent years have prepared us for an even brighter future. Theme number one. Our SaaS model is proving itself to be predictable, durable and profitable. The advantages of LiveRamp SaaS model are seemingly on display during this unprecedented period. More specifically, three characteristics give us confidence in our model. One, durable and recurring revenue. Total revenue was $99 million, up 21% year-over-year. Subscription revenue, which comprises 80% of our total topline, was up 21%, driven by the continued adoption of a new and more advanced use cases such as measurement, advanced television, a second-party data collaboration. Our marketplace and other business was up 16% and significantly outperformed the overall US advertising market,