$MANH
MANHATTAN ASSOCIATES INC

2024 Q2 Form 10-Q Financial Statement

#000095017024049203 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $265.3M $254.6M
YoY Change 14.85% 15.18%
Cost Of Revenue $120.0M $119.3M
YoY Change 10.32% 15.11%
Gross Profit $145.3M $135.3M
YoY Change 18.88% 15.23%
Gross Profit Margin 54.76% 53.14%
Selling, General & Admin $40.27M $41.13M
YoY Change 3.78% 8.19%
% of Gross Profit 27.72% 30.41%
Research & Development $35.33M $35.01M
YoY Change 11.82% 13.69%
% of Gross Profit 24.32% 25.88%
Depreciation & Amortization $1.489M $1.493M
YoY Change 12.8% 0.4%
% of Gross Profit 1.02% 1.1%
Operating Expenses $77.09M $76.14M
YoY Change 7.49% 8.31%
Operating Profit $68.19M $57.63M
YoY Change 35.07% 22.4%
Interest Expense $600.0K
YoY Change 20.0%
% of Operating Profit 0.88%
Other Income/Expense, Net $914.0K $996.0K
YoY Change 68.95% 596.5%
Pretax Income $69.10M $58.63M
YoY Change 34.12% 24.13%
Income Tax $16.34M $4.825M
% Of Pretax Income 23.64% 8.23%
Net Earnings $52.77M $53.80M
YoY Change 33.18% 38.69%
Net Earnings / Revenue 19.89% 21.14%
Basic Earnings Per Share $0.86 $0.87
Diluted Earnings Per Share $0.85 $0.86
COMMON SHARES
Basic Shares Outstanding 61.57M 61.57M
Diluted Shares Outstanding 62.12M 62.49M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.7M $207.5M
YoY Change 32.24% 14.28%
Cash & Equivalents $202.7M $207.5M
Short-Term Investments
Other Short-Term Assets $32.21M $31.98M
YoY Change 13.93% 9.0%
Inventory
Prepaid Expenses
Receivables $191.2M $205.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $426.1M $445.2M
YoY Change 18.37% 19.84%
LONG-TERM ASSETS
Property, Plant & Equipment $64.57M $12.68M
YoY Change 132.23% -56.3%
Goodwill $62.23M $62.23M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $112.4M $32.74M
YoY Change 46.05% -51.91%
Total Long-Term Assets $239.2M $229.6M
YoY Change 43.23% 44.07%
TOTAL ASSETS
Total Short-Term Assets $426.1M $445.2M
Total Long-Term Assets $239.2M $229.6M
Total Assets $665.3M $674.8M
YoY Change 26.25% 27.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.58M $26.40M
YoY Change -2.08% 4.12%
Accrued Expenses $77.72M $73.44M
YoY Change 0.57% 4.53%
Deferred Revenue $259.0M $263.9M
YoY Change 14.04% 22.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $362.7M $372.0M
YoY Change 9.71% 15.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $61.97M $11.32M
YoY Change 139.88% -58.09%
Total Long-Term Liabilities $61.97M $11.32M
YoY Change 139.88% -58.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $362.7M $372.0M
Total Long-Term Liabilities $61.97M $11.32M
Total Liabilities $424.7M $383.3M
YoY Change 19.14% 9.6%
SHAREHOLDERS EQUITY
Retained Earnings $267.8M $266.8M
YoY Change 36.15% 28.76%
Common Stock $612.0K $615.0K
YoY Change -0.81% -0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $240.6M $239.6M
YoY Change
Total Liabilities & Shareholders Equity $665.3M $674.8M
YoY Change 26.25% 27.11%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $52.77M $53.80M
YoY Change 33.18% 38.69%
Depreciation, Depletion And Amortization $1.489M $1.493M
YoY Change 12.8% 0.4%
Cash From Operating Activities $73.26M $54.74M
YoY Change 80.58% -6.72%
INVESTING ACTIVITIES
Capital Expenditures $2.217M $2.321M
YoY Change 119.72% 248.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.217M -$2.321M
YoY Change 119.72% 248.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.71M -113.8M
YoY Change 12.29% 11.94%
NET CHANGE
Cash From Operating Activities 73.26M 54.74M
Cash From Investing Activities -2.217M -2.321M
Cash From Financing Activities -75.71M -113.8M
Net Change In Cash -4.667M -63.22M
YoY Change -83.25% 44.76%
FREE CASH FLOW
Cash From Operating Activities $73.26M $54.74M
Capital Expenditures $2.217M $2.321M
Free Cash Flow $71.05M $52.42M
YoY Change 79.58% -9.65%

Facts In Submission

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CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
We expect to recognize revenue on approximately 40% of these remaining performance obligations over the next 24 months with the majority of the remaining balance recognized over the following 36 months.
CY2024Q1 manh Expected Percentage Of Revenue Recognized From Remaining Performance Obligation Over Twenty Four Months
ExpectedPercentageOfRevenueRecognizedFromRemainingPerformanceObligationOverTwentyFourMonths
0.40
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000
CY2024Q1 manh Other Provisions For Doubtful Accounts Valuation Allowance
OtherProvisionsForDoubtfulAccountsValuationAllowance
3700000
CY2023Q4 manh Other Provisions For Doubtful Accounts Valuation Allowance
OtherProvisionsForDoubtfulAccountsValuationAllowance
4400000
CY2024Q1 us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
We apply the practical expedient to expense sales commissions when the amortization period would have been one year or less.
CY2024Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
2700000
CY2023Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
2300000
CY2024Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2023Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2024Q1 us-gaap Cash
Cash
115500000
CY2024Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
92000000
CY2024Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
22100000
CY2023Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
16600000
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.179
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
53801000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
38791000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
CY2024Q1 manh Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Per Share
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsPerShare
-0.01
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61625000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62211000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
868000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
556000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62493000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62767000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254552000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221013000
CY2024Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
119287000
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
103629000
CY2024Q1 manh Operating Expenses Excluding Depreciation And Amortization
OperatingExpensesExcludingDepreciationAndAmortization
76142000
CY2023Q1 manh Operating Expenses Excluding Depreciation And Amortization
OperatingExpensesExcludingDepreciationAndAmortization
68812000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1493000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1487000
CY2024Q1 us-gaap Costs And Expenses
CostsAndExpenses
196922000
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
173928000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
57630000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
47085000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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