Manhattan Associates, Inc. reported a total revenue of $262.8 million for the first quarter of 2025, reflecting a 3% increase from $254.6 million in the same period of the previous year. The company's cloud subscription revenue was a significant contributor, rising 21% year-over-year to $94.3 million, which now accounts for 36% of total revenue. Operating income also saw an increase, reaching $63.2 million compared to $57.6 million in the prior year, resulting in an operating margin of 24.0%, up from 22.6%. However, net income slightly decreased to $52.6 million, or $0.85 per diluted share, down from $53.8 million, or $0.86 per diluted share, in the first quarter of 2024.
In terms of operational changes, Manhattan Associates experienced a restructuring expense of approximately $2.9 million due to the elimination of around 100 positions to align its services capacity with customer demand amid macroeconomic uncertainties. The company also repurchased approximately $100 million of its common stock during the quarter, reflecting its commitment to returning value to shareholders. The total number of shares outstanding as of April 22, 2025, was reported at 60,714,988.
Geographically, the Americas segment generated the majority of revenue, totaling $194.6 million, while the EMEA and APAC segments contributed $55.5 million and $12.6 million, respectively. The company noted that international revenue accounted for approximately 35% of total revenue, with significant growth in cloud subscriptions across all regions. The Americas segment saw a 21% increase in cloud subscriptions, while EMEA and APAC segments reported growth rates of 19% and 25%, respectively.
Looking ahead, Manhattan Associates remains cautious about the global economic environment, which could impact future performance. The company plans to continue investing in its cloud business and innovation to meet market demand. With a remaining performance obligation of approximately $1.9 billion, the company anticipates recognizing a significant portion of this revenue over the next two years, primarily from cloud subscriptions. The management expressed optimism about the ongoing digital transformation in supply chain management, which they believe will drive demand for their solutions.
About MANHATTAN ASSOCIATES INC
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