Fri, Jul 26, 5:20 PM (43 days ago)
Manhattan Associates, Inc. reported a strong financial performance for the quarter ended June 30, 2024. Key highlights include: - **Revenue**: Total revenue increased by 15% year-over-year to $265.3 million, driven by a 35% rise in cloud subscriptions revenue to $82.4 million. - **Profitability**: Operating income grew by 35% to $68.2 million, with an operating margin of 25.7%, up from 21.9% in the prior year. Net income was $52.8 million, resulting in diluted earnings per share of $0.85, compared to $0.63 in Q2 2023. - **Cash Flow**: Cash flow from operations was robust at $73.3 million, up from $40.6 million in the same quarter last year. Cash and cash equivalents stood at $202.7 million. - **Segment Performance**: The Americas segment led with $205.9 million in revenue, followed by EMEA at $46.9 million, and APAC at $12.4 million. All segments showed double-digit growth. - **Future Outlook**: The company remains optimistic about sustained demand for its cloud solutions and plans continued investment in innovation and global expansion. Overall, the company demonstrates strong financial health and growth prospects, with significant contributions from cloud subscriptions and services revenue.