LiveRamp Holdings, Inc.RAMP

LiveRamp Holdings, Inc. Fair Value Disclosure

10-KFiled May 21, 20262 min read
17. FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS:
 
The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:

•Level 1 - Quoted prices in active markets for identical assets or liabilities.

•Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
The following table details the fair value measurements within the fair value hierarchy of the Company's financial assets and liabilities at March 31, 2026 and March 31, 2025 that are measured at fair value on a recurring basis (dollars in thousands):
March 31, 2026
Cash and Cash EquivalentsShort-Term InvestmentsOther Current AssetsTotal
Cash$34,042 $— $— $34,042 
Level 1:
Money market funds345,505 — — 345,505 
Assets of non-qualified retirement plan— — 16,870 16,870 
Certificates of deposit— 7,500 — 7,500 
Equity securities— — 185 185 
Total$379,547 $7,500 $17,055 $404,102 
March 31, 2025
Cash and Cash EquivalentsShort-Term InvestmentsOther Current AssetsTotal
Cash$25,402 $— $— $25,402 
Level 1:
Money market funds387,929 — — 387,929 
Assets of non-qualified retirement plan— — 15,913 15,913 
Certificates of deposit— 7,500 — 7,500 
Equity securities— — 446 446 
Total$413,331 $7,500 $16,359 $437,190 

For certain financial instruments, including accounts receivable and accounts payable, the carrying amounts approximate their fair value due to the relatively short maturity of these balances.
The Company held $6.2 million and $3.2 million of strategic investments without readily determinable fair values at March 31, 2026 and March 31, 2025, respectively (see Note 6). Strategic investments consist of non-controlling equity investments in privately held companies. These investments are accounted for under the cost method of accounting and are included in other assets on the consolidated balance sheets. During the twelve months ended March 31, 2026, the Company recorded $0.1 million in strategic investment impairment charges that is recorded in other expense in the consolidated statement of operations. There were no impairment charges during the twelve months ended March 31, 2025 or 2024.

Historical Timeline

Fiscal YearFiled
2026May 21, 2026Showing above
2025May 21, 2025
2024May 22, 2024
2023May 24, 2023
2022May 24, 2022
2021May 27, 2021
2020May 26, 2020
2019May 29, 2019
2018May 25, 2018
2017May 26, 2017
2016May 27, 2016

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

Other Available Disclosures

Income TaxesRevenuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance