Manhattan Associates Reports Record Revenue

Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $231.0 million for the second quarter ended June 30, 2023.

GAAP diluted earnings per share for Q2 2023 was $0.63 compared to $0.49 in Q2 2022. Non-GAAP adjusted diluted earnings per share for Q2 2023 was $0.88 compared to $0.69 in Q2 2022.

“Manhattan delivered record second quarter and first half results. Robust demand drove Q2 cloud revenue growth of 44% and service revenue growth of 23%. These strong results exceeded our expectations, leading to our top-line outperformance and solid earnings leverage in the quarter,” said Manhattan Associates president and CEO Eddie Capel. “While appropriately cautious regarding the global economy, we are optimistic on our opportunity. To extend our leadership position, we remain committed to investing in industry leading innovation across supply chain execution, omnichannel and retail point of sale markets to best help our customers achieve more by digitally transforming their businesses,” Capel concluded.

SECOND QUARTER 2023 FINANCIAL SUMMARY:
• Consolidated total revenue was $231.0 million for Q2 2023, compared to $191.9 million for Q2 2022.
• Cloud subscription revenue was $60.9 million for Q2 2023, compared to $42.2 million for Q2 2022.
• License revenue was $3.7 million for Q2 2023, compared to $5.1 million for Q2 2022.
• Services revenue was $124.6 million for Q2 2023, compared to $100.9 million for Q2 2022.
• GAAP diluted earnings per share was $0.63 for Q2 2023, compared to $0.49 for Q2 2022.
• Adjusted diluted earnings per share, a non-GAAP measure, was $0.88 for Q2 2023, compared to $0.69 for Q2 2022.
• GAAP operating income was $50.5 million for Q2 2023, compared to $37.3 million for Q2 2022.
• Adjusted operating income, a non-GAAP measure, was $68.4 million for Q2 2023, compared to $52.8 million for Q2 2022.
• Cash flow from operations was $40.6 million for Q2 2023, compared to $52.7 million for Q2 2022. Days Sales Outstanding was 70 days at June 30, 2023, compared to 65 days at March 31, 2023.
• Cash totaled $153.3 million at June 30, 2023, compared to $181.6 million at March 31, 2023.
• During the three months ended June 30, 2023, the Company repurchased 381,357 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $66.8 million. In July 2023, our Board of Directors approved replenishing the Company’s remaining share repurchase authority to an aggregate of $75.0 million of our common stock.

Manhattan Associates designs, builds and delivers market-leading Supply Chain Commerce Solutions for its customers around the world. We help drive the commerce revolution with unmatched insight and unrivalled technology, connecting front-end revenue and relationships with back-end execution and efficiency — optimized on a common technology platform. This platform-based approach is enabling leading companies across the globe to get closer to their customers and achieve real-world results.

3PL Cost Savings with Cloud Accounting

Cambridgeshire, UK based warehouse and distribution specialist Brett’s Transport has invested in new cutting-edge cloud accounting software to improve visibility and efficiency across operations and reduce its reporting admin, a move which will save approximately one week of manual data entry every month.

Cloud accounting software, bluQube, will integrate with Brett’s Transport’s other back-office systems to allow greater visibility across the organisation and enable the development of a flash reporting function to compare weekly performance against KPIs.

Prior to the investment in bluQube, Brett’s Transport was using a basic account system that managed basic invoice processes and operated in silos to other systems within the business. The dated system was time intensive and required staff to manually key in data, match invoices and chase payments.

In its place, the finance team was looking for an easy-to-use finance system that would accommodate its broader reporting requirements across activity both in and outside of the finance system – a process that was previously being done manually on spreadsheets.

bluQube will handle and automate more of Brett’s Transport’s accounting processes. The interoperable system allows the team to bring sales ledger data across from its WMS to bring invoices into bluQube to automatically create customer statements and automate the payment chasing. It then reconciles what’s been paid and received and posts it accordingly – another process that was managed outside of its previous system spreadsheets.

In addition, the team at bluQube is developing a solution to enable Brett’s Transport to pull wider business information into the software application so it can produce flash reports across current performance and make comparisons to the business’ KPIs. This data extraction, analysis and reporting automation will save Brett’s Transport approximately one week per month in the time it was previously taking for a member of staff to manually collate the data and write the reports.

James Cook, finance director at Brett’s Transport, commented: “bluQube ticks all the boxes in the finance and accounting processes we need it to handle, and much more. The ability to report on information not currently held in the finance system was a key decision factor for us, but ultimately it was the user-friendliness of the system and the team at bluQube that was the deal breaker in our decision to progress. We liked bluQube’s people-first approach and see great synergy between the two companies.

“We already have confidence in the software to let it take on many of our crucial finance and reporting processes and make key decisions. Once bluQube is implemented and up and running we look forward to exploring some more of its features and functionality, including OCR and automated workflows on the purchase ledger for incoming invoices. It’s going to be transformational for our team and the wider business.”

Nicky Wilkins, head of customer engagement at bluQube, commented: “We look forward to working with Brett’s Transport to implement the software and see the efficiencies and time savings it achieves, as well as the impact of greater data visibility and strategic insight. On top of bluQube’s interoperability and wide-ranging capabilities, the people aspect and maintaining strong business relationships is our key differentiator and it’s encouraging to have this recognised by James and the team.”

3PL Cost Savings with Cloud Accounting

Cambridgeshire, UK based warehouse and distribution specialist Brett’s Transport has invested in new cutting-edge cloud accounting software to improve visibility and efficiency across operations and reduce its reporting admin, a move which will save approximately one week of manual data entry every month.

Cloud accounting software, bluQube, will integrate with Brett’s Transport’s other back-office systems to allow greater visibility across the organisation and enable the development of a flash reporting function to compare weekly performance against KPIs.

Prior to the investment in bluQube, Brett’s Transport was using a basic account system that managed basic invoice processes and operated in silos to other systems within the business. The dated system was time intensive and required staff to manually key in data, match invoices and chase payments.

In its place, the finance team was looking for an easy-to-use finance system that would accommodate its broader reporting requirements across activity both in and outside of the finance system – a process that was previously being done manually on spreadsheets.

bluQube will handle and automate more of Brett’s Transport’s accounting processes. The interoperable system allows the team to bring sales ledger data across from its WMS to bring invoices into bluQube to automatically create customer statements and automate the payment chasing. It then reconciles what’s been paid and received and posts it accordingly – another process that was managed outside of its previous system spreadsheets.

In addition, the team at bluQube is developing a solution to enable Brett’s Transport to pull wider business information into the software application so it can produce flash reports across current performance and make comparisons to the business’ KPIs. This data extraction, analysis and reporting automation will save Brett’s Transport approximately one week per month in the time it was previously taking for a member of staff to manually collate the data and write the reports.

James Cook, finance director at Brett’s Transport, commented: “bluQube ticks all the boxes in the finance and accounting processes we need it to handle, and much more. The ability to report on information not currently held in the finance system was a key decision factor for us, but ultimately it was the user-friendliness of the system and the team at bluQube that was the deal breaker in our decision to progress. We liked bluQube’s people-first approach and see great synergy between the two companies.

“We already have confidence in the software to let it take on many of our crucial finance and reporting processes and make key decisions. Once bluQube is implemented and up and running we look forward to exploring some more of its features and functionality, including OCR and automated workflows on the purchase ledger for incoming invoices. It’s going to be transformational for our team and the wider business.”

Nicky Wilkins, head of customer engagement at bluQube, commented: “We look forward to working with Brett’s Transport to implement the software and see the efficiencies and time savings it achieves, as well as the impact of greater data visibility and strategic insight. On top of bluQube’s interoperability and wide-ranging capabilities, the people aspect and maintaining strong business relationships is our key differentiator and it’s encouraging to have this recognised by James and the team.”

Real-time Air Freight Tracking

Prompt and seamless exchange of accurate information is essential for a robust logistics network, especially for air freight tracking. With ThinkPrime and Delpa Group, BlueBox Systems, a leading developer of intelligent air freight tracking solutions, welcomes two new customers for its state-of-the-art air freight tracking programming interface. With this, BlueBox Systems enables companies to quickly and easily access high-quality air freight data, resulting in streamlined operations.

Using BlueBox Systems’ air freight tracking programming interface, ThinkPrime and Delpa Group each get the ability to integrate BlueBox Systems’ tracking data into their own platform, allowing the independent applications to communicate with each other and share data in real time. This gives all parties along the supply chain access to the most up-to-date and accurate information. For example, carriers gain access to real-time shipment data to optimize routes and allocate resources efficiently. Similarly, manufacturers can get up-to-date shipment tracking information so they can plan production and proactively manage inventory. At the same time, the API solution enhances security by providing controlled data access that ensures only authorized parties can access and use shared information. Finally, the API streamlines processes by fostering automation and seamless system interactions, reducing manual intervention and improving overall operational efficiency.

“Our carrier neutral approach means we are connected to over 200 direct airline accounts and have ties to all major shipping lines so that we can adapt to any logistics challenge or deadline. The integration of BlueBox Systems’ API solution enables us to better provide our customers with accurate and timely updates on their shipments for a seamless experience. We pride ourselves on offering next-level customer service and the accuracy and speed of the data BlueBox supplies is unmatched, making it an incredible tool for bring our clients an even greater level of service,” says Arisa Hickey, Director at ThinkPrime (Thailand).

Chilean logistics provider Delpa Group plans to further expand its tracking offering with the interface solution from BlueBox Systems. “Through our multi-tracking platform, we already enable more than 1,500 multinational logistics providers to access cargo tracking data from airlines, shipping companies, freight forwarders and land transport companies. By integrating the BlueBox API, we can further enhance our service, especially in the air freight sector,” states Alexander Weason, Project Manager at Delpa Group.

“We are very pleased to see our API solution being adopted by more and more companies and to welcome ThinkPrime and the Delpa Group as our newest customers. Our commitment to providing the best air cargo data in the market is unwavering and we will continue to innovate and add value to our customers,” adds Martin Schulze, CEO of BlueBox Systems.

In addition to the API solution, BlueBox Systems also offers BlueBox Air, a web-based air freight tracking platform with a fast and intuitive user interface. BlueBox Air enables companies to efficiently manage their air cargo operations, reduce errors and improve overall productivity. BlueBox Systems also offers a white-label solution for companies that want to use its technology to offer their own air cargo management system to their customers.

Real-time Air Freight Tracking

Prompt and seamless exchange of accurate information is essential for a robust logistics network, especially for air freight tracking. With ThinkPrime and Delpa Group, BlueBox Systems, a leading developer of intelligent air freight tracking solutions, welcomes two new customers for its state-of-the-art air freight tracking programming interface. With this, BlueBox Systems enables companies to quickly and easily access high-quality air freight data, resulting in streamlined operations.

Using BlueBox Systems’ air freight tracking programming interface, ThinkPrime and Delpa Group each get the ability to integrate BlueBox Systems’ tracking data into their own platform, allowing the independent applications to communicate with each other and share data in real time. This gives all parties along the supply chain access to the most up-to-date and accurate information. For example, carriers gain access to real-time shipment data to optimize routes and allocate resources efficiently. Similarly, manufacturers can get up-to-date shipment tracking information so they can plan production and proactively manage inventory. At the same time, the API solution enhances security by providing controlled data access that ensures only authorized parties can access and use shared information. Finally, the API streamlines processes by fostering automation and seamless system interactions, reducing manual intervention and improving overall operational efficiency.

“Our carrier neutral approach means we are connected to over 200 direct airline accounts and have ties to all major shipping lines so that we can adapt to any logistics challenge or deadline. The integration of BlueBox Systems’ API solution enables us to better provide our customers with accurate and timely updates on their shipments for a seamless experience. We pride ourselves on offering next-level customer service and the accuracy and speed of the data BlueBox supplies is unmatched, making it an incredible tool for bring our clients an even greater level of service,” says Arisa Hickey, Director at ThinkPrime (Thailand).

Chilean logistics provider Delpa Group plans to further expand its tracking offering with the interface solution from BlueBox Systems. “Through our multi-tracking platform, we already enable more than 1,500 multinational logistics providers to access cargo tracking data from airlines, shipping companies, freight forwarders and land transport companies. By integrating the BlueBox API, we can further enhance our service, especially in the air freight sector,” states Alexander Weason, Project Manager at Delpa Group.

“We are very pleased to see our API solution being adopted by more and more companies and to welcome ThinkPrime and the Delpa Group as our newest customers. Our commitment to providing the best air cargo data in the market is unwavering and we will continue to innovate and add value to our customers,” adds Martin Schulze, CEO of BlueBox Systems.

In addition to the API solution, BlueBox Systems also offers BlueBox Air, a web-based air freight tracking platform with a fast and intuitive user interface. BlueBox Air enables companies to efficiently manage their air cargo operations, reduce errors and improve overall productivity. BlueBox Systems also offers a white-label solution for companies that want to use its technology to offer their own air cargo management system to their customers.

UK 3PL Experiences Impressive Growth

Cargo Express, a transport, warehousing, and logistics management company based in the West Midlands, has experienced an impressive period of growth, resulting in huge developments to its fleet, workforce, and services. Cargo Express work with companies located around the world with their fast and reliable, road, sea, and air freight solutions.

The company has invested an impressive £2 million over the past year into an already extensive fleet, including Scania’s, DAF’s Renault’s and various trailers. Bringing in more vehicles results in a more diversified fleet, allowing the service of more clients at any one time, and provides Cargo Express with more ways to better meet client needs when transporting across the UK and internationally.

It also allows for greater flexibility with non-standard and irregular goods, a speciality of which the company are well regarded in the transport and logistics industry.

The company has been part of a government trial that has tested the use of longer semi-trailers for more than eight years. The trial itself ran for 11 years, and the trailers, which are 2.05 metres longer than standard-sized trailers are now approved for use on UK roads.

Cargo Express have recruited and employed new staff across the business, resulting in the rapid expansion of the international team. These new team members have then inherited specific skills, growing both sea and air freight offerings and the customs department.

In fact, the logistics firm recently achieved AEO (Authorised Economic Operator) status, granted directly from HMRC in recognition of secure and trustworthy businesses within the supply chain.
The accreditation gives approved logistics companies access to more streamlined customs processes, reduces the risk of theft due to a lower risk score, and allows them to benefit from trade agreements with the EU, Japan, China, the USA, and more.

Additionally, Cargo Express has expanded its warehousing offering to include “pick & pack” and stock control services to its clients, giving them greater and more fine-tuned control of their supply chain operation. The strategic location of their warehouses in the West Midlands also helps with quick distribution for their same- and next-day delivery services.

Cargo Express is a DVSA Earned Recognition operator, proving their commitment to meeting driver and vehicle safety standards. The accreditation requires the logistics provider to provide data straight to the DVSA and, in turn, ensures the fleet and transport operation is compliant and efficient on the road.

 

UK 3PL Experiences Impressive Growth

Cargo Express, a transport, warehousing, and logistics management company based in the West Midlands, has experienced an impressive period of growth, resulting in huge developments to its fleet, workforce, and services. Cargo Express work with companies located around the world with their fast and reliable, road, sea, and air freight solutions.

The company has invested an impressive £2 million over the past year into an already extensive fleet, including Scania’s, DAF’s Renault’s and various trailers. Bringing in more vehicles results in a more diversified fleet, allowing the service of more clients at any one time, and provides Cargo Express with more ways to better meet client needs when transporting across the UK and internationally.

It also allows for greater flexibility with non-standard and irregular goods, a speciality of which the company are well regarded in the transport and logistics industry.

The company has been part of a government trial that has tested the use of longer semi-trailers for more than eight years. The trial itself ran for 11 years, and the trailers, which are 2.05 metres longer than standard-sized trailers are now approved for use on UK roads.

Cargo Express have recruited and employed new staff across the business, resulting in the rapid expansion of the international team. These new team members have then inherited specific skills, growing both sea and air freight offerings and the customs department.

In fact, the logistics firm recently achieved AEO (Authorised Economic Operator) status, granted directly from HMRC in recognition of secure and trustworthy businesses within the supply chain.
The accreditation gives approved logistics companies access to more streamlined customs processes, reduces the risk of theft due to a lower risk score, and allows them to benefit from trade agreements with the EU, Japan, China, the USA, and more.

Additionally, Cargo Express has expanded its warehousing offering to include “pick & pack” and stock control services to its clients, giving them greater and more fine-tuned control of their supply chain operation. The strategic location of their warehouses in the West Midlands also helps with quick distribution for their same- and next-day delivery services.

Cargo Express is a DVSA Earned Recognition operator, proving their commitment to meeting driver and vehicle safety standards. The accreditation requires the logistics provider to provide data straight to the DVSA and, in turn, ensures the fleet and transport operation is compliant and efficient on the road.

 

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