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Dec 31, 2022
Manhattan Associates Q4 2022 Earnings Report
Manhattan Associates reported record results for the fourth quarter, driven by strong business momentum and exceeding expectations, which contributed to record top- and bottom-line results in 2022.
Key Takeaways
Manhattan Associates reported revenue of $198.1 million for Q4 2022, with GAAP diluted earnings per share of $0.60 and non-GAAP adjusted diluted earnings per share of $0.81. The company's business momentum is strong, contributing to record top- and bottom-line results in 2022. They enter 2023 optimistic about their market opportunity and remain committed to investing in market leading innovation.
Consolidated total revenue was $198.1 million for Q4 2022, compared to $171.5 million for Q4 2021.
Cloud subscription revenue was $51.7 million for Q4 2022, compared to $34.8 million for Q4 2021.
GAAP diluted earnings per share was $0.60 for Q4 2022, compared to $0.32 for Q4 2021.
Adjusted diluted earnings per share, a non-GAAP measure, was $0.81 for Q4 2022, compared to $0.48 for Q4 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Manhattan Associates provides the following revenue, operating margin and diluted earnings per share guidance for the full year 2023:
Positive Outlook
- Total revenue is expected to be between $820 million and $833 million, representing a growth of 7% to 9%.
- GAAP operating margin is projected to be between 17.6% and 18.8%.
- Adjusted operating margin is anticipated to be between 25.5% and 26.5%.
- GAAP EPS is forecasted to be between $1.81 and $1.95.
- Adjusted EPS is expected to be between $2.61 and $2.75.
Challenges Ahead
- GAAP EPS is projected to decline by 11% to 4%.
- Adjusted EPS is expected to decline by 5% to 0%.
- Equity-based compensation is estimated to be 7.9% to 7.7%.
- Excess tax benefit on stock vesting is expected to be ($0.06) to ($0.06).
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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