Manhattan Associates reported first-quarter 2025 revenue of $262.8 million, an increase of 3.2% year-over-year, exceeding market expectations. GAAP diluted earnings per share for Q1 2025 was $0.85, while non-GAAP adjusted diluted EPS was $1.19, compared to $1.03 in Q1 2024, beating analysts' consensus estimates by 15.4%. Cloud subscriptions revenue grew to $94.306 million, up from $78.027 million in Q1 2024.
Remaining Performance Obligations (RPO) increased by 25% over the prior year, signaling sustained demand for its cloud products. The company reaffirmed its full-year 2025 guidance, expecting total revenue between $1.060 billion and $1.070 billion, and adjusted EPS between $4.54 and $4.64. This guidance includes a pre-tax restructuring expense of approximately $2.9 million in Q1 2025, related to eliminating about 100 positions to align services capacity with customer demand.
CEO Eric Clark, in his first earnings call, expressed confidence in Manhattan's platform, products, and people, highlighting the unified cloud portfolio and leadership across the supply chain commerce ecosystem. The company also noted an expense for an unusual health insurance claim in Q4 2024, with a partial insurance recovery of $4.7 million in Q1 2025, offset by additional ongoing expense. This strong performance and reaffirmed guidance provide stability to investors.
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