$MANH
Manhattan Associates Inc

2022 Q1 Form 10-Q Financial Statement

#000156459022016414 Filed on April 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $179.0M $156.9M
YoY Change 14.09% 1.91%
Cost Of Revenue $83.43M $74.07M
YoY Change 12.64% -1.02%
Gross Profit $95.53M $82.79M
YoY Change 15.39% 4.7%
Gross Profit Margin 53.38% 52.78%
Selling, General & Admin $32.35M $31.00M
YoY Change 4.37% 6.16%
% of Gross Profit 33.87% 37.45%
Research & Development $27.46M $24.30M
YoY Change 12.98% 4.17%
% of Gross Profit 28.74% 29.35%
Depreciation & Amortization $1.747M $2.100M
YoY Change -16.81% -8.7%
% of Gross Profit 1.83% 2.54%
Operating Expenses $61.56M $57.30M
YoY Change 7.43% 9.08%
Operating Profit $33.97M $25.43M
YoY Change 33.62% 5.08%
Interest Expense $700.0K
YoY Change
% of Operating Profit 2.06%
Other Income/Expense, Net $738.0K -$300.0K
YoY Change -346.0% -121.13%
Pretax Income $34.71M $25.10M
YoY Change 38.29% -2.01%
Income Tax $4.118M $2.500M
% Of Pretax Income 11.86% 9.96%
Net Earnings $30.59M $22.64M
YoY Change 35.11% 0.5%
Net Earnings / Revenue 17.09% 14.44%
Basic Earnings Per Share $0.48 $0.36
Diluted Earnings Per Share $0.48 $0.35
COMMON SHARES
Basic Shares Outstanding 63.21M 63.65M
Diluted Shares Outstanding 63.87M 64.47M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $216.3M $197.2M
YoY Change 9.69% 161.89%
Cash & Equivalents $216.3M $197.2M
Short-Term Investments
Other Short-Term Assets $28.92M $26.60M
YoY Change 8.7% -8.9%
Inventory
Prepaid Expenses
Receivables $132.0M $106.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $377.3M $330.1M
YoY Change 14.29% 52.12%
LONG-TERM ASSETS
Property, Plant & Equipment $38.76M $46.10M
YoY Change -15.93% -16.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $33.49M $20.20M
YoY Change 65.8% 44.29%
Total Long-Term Assets $134.5M $128.4M
YoY Change 4.74% -1.98%
TOTAL ASSETS
Total Short-Term Assets $377.3M $330.1M
Total Long-Term Assets $134.5M $128.4M
Total Assets $511.8M $458.5M
YoY Change 11.61% 31.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.59M $18.30M
YoY Change 34.35% -18.67%
Accrued Expenses $64.75M $65.00M
YoY Change -0.39% 36.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $257.0M $206.7M
YoY Change 24.36% 17.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $37.57M $47.10M
YoY Change -20.23% 2.39%
Total Long-Term Liabilities $37.57M $47.10M
YoY Change -20.23% 2.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $257.0M $206.7M
Total Long-Term Liabilities $37.57M $47.10M
Total Liabilities $294.6M $253.9M
YoY Change 16.04% 14.27%
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 $217.1M $204.7M
YoY Change
Total Liabilities & Shareholders Equity $511.8M $458.5M
YoY Change 11.61% 31.75%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $30.59M $22.64M
YoY Change 35.11% 0.5%
Depreciation, Depletion And Amortization $1.747M $2.100M
YoY Change -16.81% -8.7%
Cash From Operating Activities $31.79M $39.90M
YoY Change -20.32% 244.32%
INVESTING ACTIVITIES
Capital Expenditures $1.159M -$600.0K
YoY Change -293.17% -148.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.159M -$569.0K
YoY Change 103.69% -54.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $77.11M $46.40M
YoY Change 66.17% 7.83%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -77.11M -46.40M
YoY Change 66.17% 7.83%
NET CHANGE
Cash From Operating Activities 31.79M 39.90M
Cash From Investing Activities -1.159M -569.0K
Cash From Financing Activities -77.11M -46.40M
Net Change In Cash -47.39M -7.539M
YoY Change 528.58% -78.7%
FREE CASH FLOW
Cash From Operating Activities $31.79M $39.90M
Capital Expenditures $1.159M -$600.0K
Free Cash Flow $30.63M $40.50M
YoY Change -24.36% 291.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q1 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesCurrent
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-3985000
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
494000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2022Q1 manh Increase Decrease In Accounts Payable And Accrued And Other Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedAndOtherLiabilities
-6177000
CY2022Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
6175000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
8807000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31792000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1159000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1159000
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
77108000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-77108000
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-914000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-47389000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
250644000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
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CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1130000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
30592000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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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
CY2022Q1 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.
CY2022Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1800000
CY2021Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1100000
CY2022Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2022Q1 us-gaap Deferred Sales Inducement Cost Impairment Loss
DeferredSalesInducementCostImpairmentLoss
0
CY2022Q1 manh Expected Percentage Of Revenue Recognized From Remaining Performance Obligation Over Twenty Four Months
ExpectedPercentageOfRevenueRecognizedFromRemainingPerformanceObligationOverTwentyFourMonths
0.40
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2022Q1 manh Provision For Cost Of Return And Product Warranty Claims Recorded
ProvisionForCostOfReturnAndProductWarrantyClaimsRecorded
0
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000.0
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
700000
CY2022Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
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CY2022Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
809500000
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.97
CY2022Q1 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 balance recognized thereafter.
CY2022Q1 us-gaap Cash
Cash
202300000
CY2022Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
14000000.0
CY2022Q1 manh Option To Extend Lease Term
OptionToExtendLeaseTerm
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CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
21247000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28068000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5559000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7176000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6322000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5525000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2685000
CY2022Q1 manh Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4828000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
32095000
CY2022Q1 manh Short Term Lease
ShortTermLease
101000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3926000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28068000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
30592000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
22643000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2021Q1 manh Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Per Share
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsPerShare
-0.01
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63213000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63645000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63871000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64466000
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
178956000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
156850000
CY2022Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
83427000
CY2021Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
74065000
CY2022Q1 manh Operating Expenses Excluding Depreciation And Amortization
OperatingExpensesExcludingDepreciationAndAmortization
59810000
CY2021Q1 manh Operating Expenses Excluding Depreciation And Amortization
OperatingExpensesExcludingDepreciationAndAmortization
55225000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2022Q1 us-gaap Costs And Expenses
CostsAndExpenses
144984000
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
131425000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
33972000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
25425000

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