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Dec 31, 2023
Manhattan Associates Q4 2023 Earnings Report
Reported record fourth quarter and full year results, with RPO bookings increasing 36% year-over-year due to strong demand.
Key Takeaways
Manhattan Associates reported strong Q4 2023 results, exceeding expectations and capping a successful year. Revenue reached $238.3 million, with GAAP EPS at $0.78 and non-GAAP EPS at $1.03. The company is optimistic about its growing market opportunity in 2024.
Consolidated total revenue was $238.3 million for Q4 2023, compared to $198.1 million for Q4 2022.
Cloud subscription revenue was $71.4 million for Q4 2023, compared to $51.7 million for Q4 2022.
GAAP diluted earnings per share was $0.78 for Q4 2023, compared to $0.60 for Q4 2022.
Adjusted diluted earnings per share, a non-GAAP measure, was $1.03 for Q4 2023, compared to $0.81 for Q4 2022.
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 for the full year 2024 of $1,015 to $1,025 million. GAAP operating margin is expected to be 21.2% to 21.8%, and adjusted operating margin is expected to be 28.7% to 29.3%. GAAP EPS is projected to be $2.81 to $2.91, and adjusted EPS is projected to be $3.69 to $3.79.
Positive Outlook
- Total revenue $1,015 to $1,025 million
- 9% to 10% Growth in total revenue
- GAAP operating margin 21.2% to 21.8%
- Adjusted operating margin 28.7% to 29.3%
- GAAP EPS $2.81 to $2.91
Challenges Ahead
- Equity-based compensation 7.5%
- Equity-based compensation impact on EPS 1.02
- Excess tax benefit on stock vesting (0.13)
- Adjusted EPS -1% to 1%
- Those statements, including the guidance provided above, are forward looking. Actual results may differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income