Manhattan Associates(US:MANH)2025-01-28 21:03Revenue Performance - Consolidated total revenue for Q4 2024 was $255.8 million, a 7.3% increase from $238.3 million in Q4 2023[4] - Full year 2024 total revenue was $1,042.4 million, representing a 12.2% increase from $928.7 million in 2023[7] - Total revenue for 2023 was $928.725 million, with a projected increase to $1,042.352 million in 2024, representing a growth of approximately 12.2%[27] - Revenue from the Americas segment increased from $719.195 million in 2023 to $802.486 million in 2024, a growth of about 11.6%[27] - EMEA revenue rose from $166.638 million in 2023 to $190.523 million in 2024, marking an increase of approximately 14.3%[27] - APAC revenue is projected to grow from $49.343 million in 2023 to $55.000 million in 2024, representing an increase of about 11.5%[27] Earnings and Profitability - GAAP diluted earnings per share for Q4 2024 was $0.77, slightly down from $0.78 in Q4 2023, while adjusted diluted EPS increased to $1.17 from $1.03[6] - Adjusted diluted EPS for Q4 2024 was $1.17, compared to $1.03 in Q4 2023, marking a 14% increase[26] - Net income for the year ended December 31, 2024, reached $218,364 thousand, compared to $176,568 thousand in 2023, reflecting a growth of 24%[25] - GAAP operating income for 2023 was $209.881 million, expected to rise to $261.596 million in 2024, indicating a growth of about 24.6%[27] - Adjusted non-GAAP operating income for 2023 was $281.452 million, with a forecast of $361.804 million for 2024, reflecting an increase of approximately 28.5%[27] Cash Flow and Operations - Cash flow from operations for Q4 2024 was $104.7 million, compared to $88.4 million in Q4 2023, reflecting a 18.5% increase[6] - The company reported a net cash provided by operating activities of $295,003 thousand for the year ended December 31, 2024, compared to $246,218 thousand in 2023, a growth of 20%[25] Share Repurchase and Equity - The company repurchased 155,444 shares for a total investment of $43.5 million during Q4 2024, with an increased share repurchase authority of $100 million announced in January 2025[6] - The company repurchased a total of 1,246 thousand shares in 2023, with a total cash outlay of $196.047 million, and plans to repurchase 1,165 thousand shares in 2024 for $286.366 million[32] Guidance and Projections - For 2025, the company projects total revenue guidance between $1,060 million and $1,070 million, indicating a growth range of 2% to 3%[8] - GAAP operating margin for 2025 is expected to be between 22.3% and 22.9%[8] - Adjusted diluted EPS guidance for 2025 is projected to be between $4.45 and $4.55, reflecting a decrease of 6% to 4% compared to 2024[8] Expenses and Investments - Research and development expenses for the year ended December 31, 2024, were $20,760 thousand, up from $15,674 thousand in 2023, representing a 32% increase[21] - Total equity-based compensation for the year ended December 31, 2024, was $93,206 thousand, compared to $71,571 thousand in 2023, reflecting a 30% increase[21] - Capital expenditures for 2023 totaled $4.730 million, with an increase to $8.675 million projected for 2024, indicating a growth of approximately 83.5%[31] Deferred Revenue and RPO - Deferred revenue as of December 31, 2024, was $277,970 thousand, an increase from $237,793 thousand in 2023, indicating a growth of 17%[23] - Remaining Performance Obligations (RPO) as of September 30, 2023, totaled $1,324,861,000, reflecting a growth from $1,238,672,000 as of June 30, 2023[33] - RPO is projected to increase to $1,780,400,000 by December 31, 2024, indicating a steady growth trend[33] Employment and Workforce - The company eliminated approximately 100 positions in January 2025 to align services capacity with customer demand amid macroeconomic uncertainty[9]