Business
Manhattan Associates Reports Record Revenue and Earnings
RPO Bookings Increase 27% over Prior Year on Strong Demand ATLANTA--(BUSINESS WIRE)-- Leading Supply Chain and Omnichannel Commerce Solutions provider
About this update from Manhattan Associates, Inc.
[{"type":"text","content":"\nRPO Bookings Increase 27% over Prior Year on Strong Demand\n\n ATLANTA--(BUSINESS WIRE)--\nLeading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $266.7 million for the third quarter ended September 30, 2024. GAAP diluted earnings per share for Q3 2024 was $1.03 compared to $0.79 in Q3 2023. Non-GAAP adjusted diluted earnings per share for Q3 2024 was $1.35 compared to $1.05 in Q3 2023.\n\n“Manhattan delivered record third quarter and year-to-date results. Our fundamentals are strong, and we continue to deliver a balanced financial performance across top-line growth and profitability and industry leading innovation each quarter,” said Manhattan Associates president and CEO Eddie Capel.\n\n“While we remain appropriately cautious on the global economy, we are optimistic on our growing market opportunity and our long-term strategy. Our fourth quarter is off to a solid start, and we are providing responsible 2025 parameters,” Mr. Capel concluded.\n\nTHIRD QUARTER 2024 FINANCIAL SUMMARY:\n\n\nConsolidated total revenue was $266.7 million for Q3 2024, compared to $238.4 million for Q3 2023.\n\n\nCloud subscription revenue was $86.5 million for Q3 2024, compared to $65.0 million for Q3 2023.\n\n\nLicense revenue was $3.8 million for Q3 2024, compared to $3.9 million for Q3 2023.\n\n\nServices revenue was $137.0 million for Q3 2024, compared to $128.0 million for Q3 2023.\n\n\n\n\nGAAP diluted earnings per share was $1.03 for Q3 2024, compared to $0.79 for Q3 2023.\n\n\nAdjusted diluted earnings per share, a non-GAAP measure, was $1.35 for Q3 2024, compared to $1.05 for Q3 2023.\n\n\nGAAP operating income was $75.1 million for Q3 2024, compared to $53.4 million for Q3 2023.\n\n\nAdjusted operating income, a non-GAAP measure, was $98.9 million for Q3 2024, compared to $72.5 million for Q3 2023.\n\n\nCash flow from operations was $62.3 million for Q3 2024, compared to $58.6 million for Q3 2023. Days Sales Outstanding was 69 days at September 30, 2024, compared to 66 days at June 30, 2024.\n\n\nCash totaled $215.0 million at September 30, 2024, compared to $202.7 million at June 30, 2024.\n\n\nDuring the three months ended September 30, 2024, the Company repurchased 194,712 shares of Manhattan Associates common stock under the share repurchase program authorized...