LiveRamp reported a strong Q4 FY2024 finish with revenue of $172 million, up 16% year over year, and non-GAAP operating income ahead of guidance by 20%. ARR reached $467 million, up 10% for the year, with quarterly ARR growth accelerating to a double-digit pace for the second consecutive quarter. The company highlighted robust data collaboration demand, led by the Habu acquisition which closed January 31, 2024, and a pipeline now exceeding $40 million. Management reaffirmed a strategic shift toward large, multi-year contracts, higher customer retention, and cross-sell opportunities across LiveRamp and Habu. For FY25, LiveRamp guided to $710–730 million in revenue and $125–129 million of non-GAAP operating income (about 18% margin at the midpoint), signaling a continued move toward sustainable, high-teen to low-20s percent operating income growth on a non-GAAP basis and an improving subscription trajectory. The company also underscored opportunities from PAIR and ATS in a cookie-less future, while cautions include a slower-than-expected cookie deprecation timeline and macro ad-market uncertainty. The outlook emphasizes a Rule-of-40 aspiration, driven by product upgrades, data collaboration leadership, expanded partner ecosystems, and AI-enabled simplification across platforms.