Business
Manhattan Associates Reports Record Third Quarter Results
RPO Bookings Increase 69% over Prior Year on Strong Demand Company Raises 2022 Full-Year Revenue and EPS Guidance ATLANTA, Oct. 25, 2022 (GLOBE NEWSWIRE) --
About this update from Manhattan Associates, Inc.
[{"type":"text","content":"RPO Bookings Increase 69% over Prior Year on Strong Demand Company Raises 2022 Full-Year Revenue and EPS Guidance ATLANTA, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $198.1 million for the third quarter ended September 30, 2022. GAAP diluted earnings per share was $0.47 for Q3 2022 compared to $0.57 for Q3 2021. Non-GAAP adjusted diluted earnings per share for Q3 2022 was $0.66 compared to $0.71 in Q3 2021. “We are very pleased with our quarterly results, delivering record Q3 revenue and better than expected earnings per share. Demand is strong and resilient across our differentiated cloud product portfolio,” said Manhattan Associates president and CEO Eddie Capel. “We are committed to our customers’ success and continue to invest in industry leading innovation to help digitally transform their businesses. While the global macro environment remains turbulent, our business fundamentals are strong and our increased 2022 guidance appropriately accounts for continued volatility,” Mr. Capel concluded. THIRD QUARTER 2022 FINANCIAL SUMMARY: Consolidated total revenue was $198.1 million for Q3 2022, compared to $169.2 million for Q3 2021. Cloud subscription revenue was $45.3 million for Q3 2022, compared to $32.2 million for Q3 2021.License revenue was $6.4 million for Q3 2022, compared to $8.5 million for Q3 2021.Services revenue was $103.4 million for Q3 2022, compared to $88.2 million for Q3 2021. GAAP diluted earnings per share was $0.47 for Q3 2022, compared to $0.57 for Q3 2021.Adjusted diluted earnings per share, a non-GAAP measure, was $0.66 for Q3 2022, compared to $0.71 for Q3 2021.GAAP operating income was $36.8 million for Q3 2022, compared to $42.4 million for Q3 2021.Adjusted operating income, a non-GAAP measure, was $51.3 million for Q3 2022, compared to $53.0 million for Q3 2021.Cash flow from operations was $39.9 million for Q3 2022, compared to $59.7 million for Q3 2021. Days Sales Outstanding was 67 days at September 30, 2022, compared to 63 days at June 30, 2022.Cash totaled $197.1 million at September 30, 2022, compared to $213.8 million at June 30, 2022.During the three months ended September 30, 2022, the Company repurchased 346,620 shares of Manhattan Associates common stock under the share r...