Manhattan Associates (MANH) Q4 FY2023 earnings: revenue $238 million, up 20.3% on the year

Manhattan Associates Inc. (MANH) reported revenue of $238 million for Q4 FY2023, the quarter ended 31 December 2023, up 20.3% on the same quarter a year earlier. Net income was $49 million, up 28.7% on the year, and diluted earnings per share $0.78. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2024.

Revenue$238 millionup 20.3%

Net income$49 millionup 28.7%

Diluted EPS$0.78

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	238	238	n/a	n/a
Cost of revenue	107	111	n/a	n/a
Gross profit	132	127	n/a	n/a
Gross margin	55.2%	53.3%	n/a
Research and development	31.3	33.1	n/a	n/a
Operating income	58.9	53.4	n/a	n/a
Operating margin	24.7%	22.4%	n/a
Pre-tax income	59.7	55.2	n/a	n/a
Income tax	11.0	5.8	n/a	n/a
Effective tax rate	18.4%	10.4%	n/a
Net income	48.7	49.4	n/a	n/a
Net margin	20.5%	20.7%	n/a
Diluted EPS	$0.78	$0.79	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	88.4	58.6	n/a	n/a
Capital expenditure	2.0	1.1	n/a	n/a
Free cash flow	86.4	57.5	n/a	n/a
Free cash flow margin	36.3%	24.1%	n/a
Cash from investing	-2.0	-1.1	n/a	n/a
Cash from financing	-0.3	-26.6	n/a	n/a
Depreciation and amortisation	1.5	1.4	n/a	n/a
Share-based compensation	18.0	19.0	n/a	n/a
Buybacks	0.3	26.6	n/a	n/a
Diluted shares, weighted	63m	62m	n/a	n/a
Shares outstanding at period end	62m	62m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	278	210	n/a	n/a
Debt	0.0	n/a	n/a	n/a
Operating lease liabilities	17.7	16.2	n/a	n/a
Other liabilities	377	347	n/a	n/a
Total liabilities and equity	673	573	n/a	n/a
Fixed assets	11.8	11.3	n/a	n/a
Goodwill	62.2	62.2	n/a	n/a
Cash and equivalents	271	182	n/a	n/a
Receivables	181	183	n/a	n/a
Other assets	147	134	n/a	n/a
Total assets	673	573	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	238	238	255	265	267	256	263	272	276	270	282	298
Cost of revenue	111	107	119	120	119	113	115	116	120	122	127	129
Gross profit	127	132	135	145	148	143	148	156	156	149	156	168
Gross margin	53%	55%	53%	55%	56%	56%	56%	57%	57%	55%	55%	57%
R&D	33.1	31.3	35.0	35.3	34.3	33.0	35.3	34.9	36.4	38.5	37.3	34.8
Operating income	53.4	58.9	57.6	68.2	75.1	60.7	63.2	73.8	75.8	67.0	64.9	66.2
Operating margin	22%	25%	23%	26%	28%	24%	24%	27%	27%	25%	23%	22%
Pre-tax income	55.2	59.7	58.6	69.1	76.4	62.7	64.5	74.5	78.4	68.5	69.3	67.2
Tax rate	10%	18%	8%	24%	17%	23%	18%	24%	25%	24%	29%	25%
Net income	49.4	48.7	53.8	52.8	63.8	48.0	52.6	56.8	58.6	52.0	49.3	50.4
Net margin	21%	20%	21%	20%	24%	19%	20%	21%	21%	19%	17%	17%
Diluted EPS	$0.79	$0.78	$0.86	$0.85	$1.03	$0.77	$0.85	$0.93	$0.96	$0.86	$0.82	$0.85
Operating cash flow	58.6	88.4	54.7	73.3	62.3	105	75.3	74.0	93.1	147	84.0	90.7
Capital expenditure	1.1	2.0	2.3	2.2	1.0	3.1	0.9	4.0	5.9	4.7	4.1	1.0
Free cash flow	57.5	86.4	52.4	71.0	61.3	102	74.4	70.1	87.2	142	79.9	89.7
Buybacks	26.6	0.3	114	75.7	51.6	45.2	136	50.2	51.5	77.0	179	127
Shares outstanding	62m	62m	62m	61m	61m	61m	61m	60m	60m	60m	59m	58m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 6 February 2024, accession 0000950170-24-011411: the filing on EDGAR. All of Manhattan Associates Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install