$MANH (+1.2%)

Manhattan Associates Inc. exceeds analysts' estimates of USD 1.03 with earnings per share of USD 1.19 in the first quarter. Sales of USD 262.8 million exceed expectations of USD 256.63 million.

1 **First quarter 2025 results:**

- Manhattan Associates generated total revenue of $262.8 million, an increase from $254.6 million in the first quarter of 2024.

- Cloud subscription revenue increased 21% to $94.3 million.

- GAAP diluted earnings per share were $0.85, while adjusted (non-GAAP) earnings per share were $1.19.

2 **Financial Highlights:**

- Adjusted operating income increased to $91.3 million (2024: $79.7 million).

- Operating cash flow reached $75.3 million, a significant increase from $54.7 million in the prior year

- The company invested $100 million in the buyback of treasury shares.

3 **Forecast for 2025:**

- Projected total revenues between $1,060 and $1,070 million (growth of 2%-3%).

- Expected GAAP EPS between $3.06 and $3.16.

*summarized with AI

Purchased due to the strong profitability ratios

ROE 75.64

ROCE 75.69

ROTC 80.14

I see no fundamental reason for the strong sell-off; -39% the last 3 months

Opportunities > Risks

$MANH (+1.2%)

Good morning everyone,

What is your assessment of $MANH (+1.2%) ?

The share has been punished with -44% in the last 3 months.

In my opinion, the sell-off was completely exaggerated because the company delivers strong key figures.

• ROE 75.64
• ROCE 75.69
• ROTC 80.14
• FCF growth +18.57

I think I will buy the share soon, but I would be interested in any opinions that would speak against it.