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Manhattan Associates Inc. (NASDAQ: MANH) is a global leader in supply chain, inventory, and omnichannel solutions. Established in 1990, the company has provided innovative software solutions to over 1,200 customers worldwide, including retailers, wholesalers, manufacturers, and logistics providers. Through its advanced cloud-native technology, Manhattan Associates maximizes warehouse efficiency, ensuring timely delivery and smarter orchestration of orders.
Recently, Manhattan Associates announced a strategic partnership with TeamViewer, a leading provider of remote connectivity and digitalization solutions. This collaboration aims to integrate TeamViewer's vision picking technology with Manhattan Active Warehouse Management (MAWM) platform, enhancing warehouse operations with augmented reality for improved accuracy and efficiency.
Financially, Manhattan Associates has remained debt-free since its inception and continues to invest in the latest technologies such as AI, machine learning, and robotics. The company's robust financial health allows it to innovate continually and offer cutting-edge solutions that address critical industry challenges.
At Manhattan Associates, the focus is on moving life and commerce forward by connecting and optimizing every aspect of the supply chain. The company's dedication to providing high-quality solutions has earned it a solid reputation over the past 25 years.
Manhattan Associates reported a strong start to 2023 with Q1 revenue reaching $221.0 million, up from $179.0 million in Q1 2022. The company's GAAP diluted earnings per share increased to $0.62, compared to $0.48 last year, while non-GAAP adjusted diluted EPS rose to $0.80 from $0.60.
Cloud and services revenue growth exceeded expectations, with cloud subscription revenue at $57.2 million, significantly higher than $37.3 million in the same quarter last year. Despite cautious outlook due to economic conditions, the company raised its full-year guidance with total revenue expectations between $856 million and $864 million, representing a growth range of 12% to 13%.
Manhattan Associates (NASDAQ: MANH) has been recognized as the Leader in Forrester Wave's Q2 2023 report for Order Management Systems (OMS). It is the only provider to achieve a perfect score (5.00) in 16 out of 24 evaluated criteria under Current Offering. The report commends Manhattan's OMS for its comprehensive features, particularly in inventory management and order orchestration capabilities.
Forrester's analysis highlighted the company's strengths in community engagement and planned enhancements, affirming its strategic positioning within the market. The recognition is seen as a validation of Manhattan’s commitment to innovation and customer partnership. The Unified Commerce Benchmark indicates that a streamlined OMS can potentially boost revenue growth by up to 6X.
Manhattan Associates (NASDAQ: MANH) will release its Q1 2023 financial results on April 25, 2023, after market close. A conference call will follow at 4:30 p.m. ET, with a live webcast available for investors on the company's Investor Relations website. A replay will be accessible via phone and online shortly after the call.
The company specializes in technology solutions for supply chain and omnichannel commerce, aiming to integrate information across various business operations. Their offerings include leading cloud and on-premises solutions designed to enhance profitability and growth.
Manhattan Associates (NASDAQ: MANH) has been recognized as a Leader in the Gartner Magic Quadrant for Transportation Management Systems for the fifth consecutive year. This recognition underscores the company's robust Manhattan Active® Transportation Management solution, designed to enhance transportation functions across various networks. Notably, clients like Giant Eagle experienced an 8% reduction in empty miles and a 7% improvement in cubing through this solution. The company's cloud-native architecture aids in optimizing logistics and improving profitability for shippers and carriers.
Manhattan Associates (NASDAQ: MANH), in partnership with Google Cloud and Zebra Technologies, released the first Unified Commerce Benchmark for Specialty Retail on March 21, 2023. The benchmark analyzed 124 retailers and found that leading companies achieved up to 6X revenue growth compared to competitors. Challenges identified include personalization (only 38% access to shopper history), real-time inventory visibility (only 29% provided inventory stats), and convenience and flexibility (only 15% allowed post-order changes). The study emphasizes the importance of adopting Unified Commerce for enhanced customer experiences and operational efficiency.
Manhattan Associates reported a strong Q4 2022 with revenue reaching $198.1 million, up from $171.5 million in Q4 2021. GAAP diluted EPS was $0.60, compared to $0.32 a year earlier, while non-GAAP adjusted diluted EPS rose to $0.81 from $0.48. The company's total revenue for 2022 was $767.1 million, a significant increase from $663.6 million in 2021. Looking ahead, the company anticipates total revenue between $820 million and $833 million for 2023, indicating a growth range of 7% to 9%. Manhattan's cloud subscription revenue also surged, reflecting strong demand in the supply chain sector.
Manhattan Associates (NASDAQ: MANH) has announced enhanced RFID capabilities for its Manhattan Active Omni suite at the NRF Big Show on January 15, 2023. The new features aim to improve inventory accuracy, reduce labor costs, and automate store processes. With these advancements, retailers can boost inventory accuracy from 70% to nearly 100%, addressing challenges posed by inaccurate inventory visibility. The RFID technology allows for efficient inventory counts and quicker transaction processes. As a result, retailers can elevate customer experience by ensuring better product availability and fulfilling both in-store and online orders effectively.
On January 13, 2023, Manhattan Associates (NASDAQ: MANH) announced the successful deployment of its Manhattan Active solutions at Everything But Water, the largest specialty women’s swimwear retailer in the U.S. The comprehensive cloud-native platform includes point of sale, order management, and fulfillment capabilities across 85 retail locations. This digital transformation aims to enhance customer service and streamline operations, providing store associates with a holistic view of customer information. The partnership positions Everything But Water to optimize its operating margins and deliver advanced omnichannel fulfillment.
Manhattan Associates (NASDAQ: MANH) will release its fourth quarter 2022 financial results on February 2, 2023, after market close. The announcement will be followed by a conference call at 4:30 p.m. Eastern Time the same day. Investors can access the live webcast on the company’s Investor Relations website. A replay of the call will be available shortly after, both via phone and online. Manhattan Associates is a leader in supply chain and omnichannel commerce, providing technology solutions that drive growth and profitability.
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