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Sep 30, 2023
Manhattan Associates Q3 2023 Earnings Report
Manhattan Associates reported record revenue and earnings driven by strong demand for cloud solutions, with RPO bookings increasing significantly and full-year guidance raised.
Key Takeaways
Manhattan Associates reported record revenue of $238.4 million for Q3 2023, a significant increase compared to $198.1 million in Q3 2022. GAAP diluted earnings per share increased to $0.79, and non-GAAP adjusted diluted earnings per share reached $1.05. The company raised its 2023 outlook across all metrics and provided preliminary solid 2024 parameters.
Consolidated total revenue reached $238.4 million, up from $198.1 million in Q3 2022.
Cloud subscription revenue increased to $65.0 million, compared to $45.3 million in the previous year.
GAAP diluted earnings per share was $0.79, while adjusted diluted earnings per share was $1.05.
RPO bookings increased 37% over the prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Manhattan Associates raised its 2023 full year guidance for total revenue, GAAP operating margin, adjusted operating margin, GAAP EPS, and adjusted EPS.
Positive Outlook
- Total revenue is projected to be between $912 million and $916 million, representing a 19% growth.
- GAAP operating margin is expected to be between 21.0% and 21.3%.
- Adjusted operating margin is projected to be between 28.9% and 29.1%.
- GAAP EPS is expected to be between $2.59 and $2.61, a 28-29% increase.
- Adjusted EPS is projected to be between $3.51 and $3.53, a 27-28% increase.
Challenges Ahead
- Anticipate continued volatility.
- Economic conditions, including inflation could cause actual results to differ.
- Disruptions in the retail sector could cause actual results to differ.
- Global instability, including the wars in Ukraine and the Middle East could cause actual results to differ.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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