Business
Manhattan Associates Reports Record Quarterly Revenue and Earnings
RPO Bookings Increase 84% over Prior Year on Strong Demand Company Raises 2022 Full-Year Revenue and EPS Guidance ATLANTA, July 26, 2022 (GLOBE NEWSWIRE) --
About this update from Manhattan Associates, Inc.
[{"type":"text","content":"RPO Bookings Increase 84% over Prior Year on Strong Demand Company Raises 2022 Full-Year Revenue and EPS Guidance ATLANTA, July 26, 2022 (GLOBE NEWSWIRE) -- Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $191.9 million for the second quarter ended June 30, 2022. GAAP diluted earnings per share was $0.49 for Q2 2022 compared to $0.48 for Q2 2021. Non-GAAP adjusted diluted earnings per share for Q2 2022 was $0.69 compared to $0.61 in Q2 2021. “Manhattan delivered a record second quarter and first half results. Our business momentum is strong, as Q2 cloud revenue growth of 48% and service revenue growth of 19% exceeded our expectations and drove excellent operating results,” said Manhattan Associates president and CEO Eddie Capel. “While we continue to operate in a turbulent global macro environment, our teams are executing very well for our customers, and demand for our cloud-native solutions remains robust. With our business fundamentals strengthening and revenue visibility increasing, we are again raising our 2022 guidance,” Mr. Capel concluded. SECOND QUARTER 2022 FINANCIAL SUMMARY: Consolidated total revenue was $191.9 million for Q2 2022, compared to $166.1 million for Q2 2021. Cloud subscription revenue was $42.2 million for Q2 2022, compared to $28.6 million for Q2 2021.License revenue was $5.1 million for Q2 2022, compared to $8.8 million for Q2 2021.Services revenue was $100.9 million for Q2 2022, compared to $84.7 million for Q2 2021. GAAP diluted earnings per share was $0.49 for Q2 2022, compared to $0.48 for Q2 2021.Adjusted diluted earnings per share, a non-GAAP measure, was $0.69 for Q2 2022, compared to $0.61 for Q2 2021.GAAP operating income was $37.3 million for Q2 2022, compared to $39.4 million for Q2 2021.Adjusted operating income, a non-GAAP measure, was $52.8 million for Q2 2022, compared to $50.2 million for Q2 2021.Cash flow from operations was $52.7 million for Q2 2022, compared to $45.5 million for Q2 2021. Days Sales Outstanding was 63 days at June 30, 2022, compared to 66 days at March 31, 2022.Cash totaled $213.8 million at June 30, 2022, compared to $216.3 million at March 31, 2022.During the three months ended June 30, 2022, the Company repurchased 416,558 shares of Manhattan Associates common stock under the share r...