$MANH
Manhattan Associates Inc

2021 Q1 Form 10-Q Financial Statement

#000156459021022006 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $156.9M $153.9M
YoY Change 1.91% 3.71%
Cost Of Revenue $74.07M $74.83M
YoY Change -1.02% 11.41%
Gross Profit $82.79M $79.07M
YoY Change 4.7% -2.66%
Gross Profit Margin 52.78% 51.38%
Selling, General & Admin $31.00M $29.20M
YoY Change 6.16% -2.11%
% of Gross Profit 37.45% 36.93%
Research & Development $24.30M $23.33M
YoY Change 4.17% 9.97%
% of Gross Profit 29.35% 29.5%
Depreciation & Amortization $2.100M $2.300M
YoY Change -8.7% 21.05%
% of Gross Profit 2.54% 2.91%
Operating Expenses $57.30M $52.53M
YoY Change 9.08% 2.91%
Operating Profit $25.43M $24.20M
YoY Change 5.08% -14.43%
Interest Expense $1.400M
YoY Change 133.33%
% of Operating Profit 5.79%
Other Income/Expense, Net -$300.0K $1.420M
YoY Change -121.13% -482.75%
Pretax Income $25.10M $25.62M
YoY Change -2.01% -8.2%
Income Tax $2.500M $3.086M
% Of Pretax Income 9.96% 12.05%
Net Earnings $22.64M $22.53M
YoY Change 0.5% 7.43%
Net Earnings / Revenue 14.44% 14.64%
Basic Earnings Per Share $0.36 $0.35
Diluted Earnings Per Share $0.35 $0.35
COMMON SHARES
Basic Shares Outstanding 63.65M 63.59M
Diluted Shares Outstanding 64.47M 64.34M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $197.2M $75.30M
YoY Change 161.89% -28.22%
Cash & Equivalents $197.2M $75.28M
Short-Term Investments
Other Short-Term Assets $26.60M $29.20M
YoY Change -8.9% 52.88%
Inventory
Prepaid Expenses
Receivables $106.3M $112.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $330.1M $217.0M
YoY Change 52.12% -6.18%
LONG-TERM ASSETS
Property, Plant & Equipment $46.10M $54.90M
YoY Change -16.03% 3.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.20M $14.00M
YoY Change 44.29% 53.54%
Total Long-Term Assets $128.4M $131.0M
YoY Change -1.98% 2.18%
TOTAL ASSETS
Total Short-Term Assets $330.1M $217.0M
Total Long-Term Assets $128.4M $131.0M
Total Assets $458.5M $348.0M
YoY Change 31.75% -3.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.30M $22.50M
YoY Change -18.67% 33.14%
Accrued Expenses $65.00M $47.70M
YoY Change 36.27% -0.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $206.7M $176.2M
YoY Change 17.31% 6.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $47.10M $46.00M
YoY Change 2.39% -5.35%
Total Long-Term Liabilities $47.10M $46.00M
YoY Change 2.39% -5.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $206.7M $176.2M
Total Long-Term Liabilities $47.10M $46.00M
Total Liabilities $253.9M $222.2M
YoY Change 14.27% 3.78%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $204.7M $125.9M
YoY Change
Total Liabilities & Shareholders Equity $458.5M $348.0M
YoY Change 31.75% -3.2%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $22.64M $22.53M
YoY Change 0.5% 7.43%
Depreciation, Depletion And Amortization $2.100M $2.300M
YoY Change -8.7% 21.05%
Cash From Operating Activities $39.90M $11.59M
YoY Change 244.32% -67.07%
INVESTING ACTIVITIES
Capital Expenditures -$600.0K $1.245M
YoY Change -148.19% 102.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$569.0K -$1.245M
YoY Change -54.3% -251.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $46.40M $43.03M
YoY Change 7.83% 42.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.40M -43.03M
YoY Change 7.83% 42.68%
NET CHANGE
Cash From Operating Activities 39.90M 11.59M
Cash From Investing Activities -569.0K -1.245M
Cash From Financing Activities -46.40M -43.03M
Net Change In Cash -7.539M -35.40M
YoY Change -78.7% -715.31%
FREE CASH FLOW
Cash From Operating Activities $39.90M $11.59M
Capital Expenditures -$600.0K $1.245M
Free Cash Flow $40.50M $10.34M
YoY Change 291.57% -70.08%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-46402000
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-453000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7539000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
204705000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-569000
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
46402000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
218897000
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
46402000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
10051000
CY2021Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-529000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
22643000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
204660000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
142278000
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
43032000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
7564000
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3471000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22530000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
125869000
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
We expect to recognize revenue on approximately 45% of these remaining performance obligations over the next 24 months with the balance recognized thereafter.
CY2021Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
421200000
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2021Q1 manh Provision For Cost Of Return And Product Warranty Claims Recorded
ProvisionForCostOfReturnAndProductWarrantyClaimsRecorded
0
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
700000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1400000
CY2021Q1 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.
CY2021Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1100000
CY2020Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
700000
CY2021Q1 manh Expected Percentage Of Revenue Recognized From Remaining Performance Obligation Over Twenty Four Months
ExpectedPercentageOfRevenueRecognizedFromRemainingPerformanceObligationOverTwentyFourMonths
0.45
CY2021Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2020Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2021Q1 manh Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7953000
CY2021Q1 us-gaap Cash
Cash
186000000.0
CY2021Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
11200000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6409000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6563000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6348000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5448000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5421000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
32356000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2021Q1 manh Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Per Share
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsPerShare
-0.01
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2021Q1 us-gaap Lease Cost
LeaseCost
2000000.0
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1900000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.03
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1926000
CY2021Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
10100000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.099
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
22643000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22530000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63645000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
821000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64466000
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3

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