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Mar 31, 2024
Manhattan Associates Q1 2024 Earnings Report
Reported record first quarter results with RPO bookings increasing 31% year-over-year and raised full-year guidance.
Key Takeaways
Manhattan Associates reported a strong start to 2024 with better-than-expected first-quarter results. Revenue reached $254.6 million, with GAAP diluted earnings per share at $0.86 and non-GAAP adjusted diluted earnings per share at $1.03. The company's fundamentals are strong, driven by solid demand and favorable pipeline momentum.
Consolidated total revenue reached $254.6 million, compared to $221.0 million for the three months ended March 31, 2023.
GAAP diluted earnings per share was $0.86, compared to $0.62 for the three months ended March 31, 2023.
Non-GAAP adjusted diluted earnings per share was $1.03, compared to $0.80 for the three months ended March 31, 2023.
GAAP operating income was $57.6 million, compared to $47.1 million for the three months ended March 31, 2023.
Manhattan Associates
Manhattan Associates
Manhattan Associates Revenue by Segment
Manhattan Associates Revenue by Geographic Location
Revenue by Segment
Cloud subscriptions Revenue
CapyFin.comSoftware license Revenue
CapyFin.comMaintenance Revenue
CapyFin.comServices Revenue
CapyFin.comHardware Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
Manhattan Associates provides revenue guidance between $1,026 million and $1,034 million for the full year 2024. GAAP EPS is expected to be between $2.78 and $2.86, while adjusted EPS is projected to be between $3.86 and $3.94.
Positive Outlook
- Total revenue is expected to be between $1,026 million and $1,034 million, representing a growth of 10% to 11%.
- Adjusted operating margin is guided between 29.6% and 29.9%.
- Adjusted EPS is projected to be between $3.86 and $3.94, indicating a growth of 3% to 5%.
- Company's remaining share repurchase authority replenished to an aggregate of $75.0 million of common stock.
Challenges Ahead
- GAAP EPS is expected to be between $2.78 and $2.86, representing a decline of 1% to an increase of 1%.
- Equity-based compensation is expected to be 8.8% to 8.7%.
- Excess tax benefit on stock vesting expected to occur primarily in the first quarter of 2024.
- Actual results may differ materially due to economic conditions, competition, and other risk factors.
- The company disclaims any obligation to update forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income