MANH - Earnings call transcript Q3 2021 | Manhattan Associates, Inc.

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Operator

Good afternoon. My name is Liah, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Manhattan Associates Third Quarter 2021 Earnings Call. [Operator Instructions] After the speakers' remarks, there will be a question-and-answer period. [Operator Instructions] As a reminder, ladies and gentlemen, this call is being recorded today, October 27. to like now would introduce Mr. I Head Bauer, of Investor Associates. Manhattan of Relations Michael Mr. begin conference. you your Bauer, may

Michael Bauer

Thank and will XXXX over Third language you, Manhattan then to Quarter to Liah, and CEO. Earnings good Eddie afternoon, Capel, Call. the I turn review our cautionary Welcome our call everyone. Associates

session, including of forward-looking Manhattan may statements future regarding During this we the performance call, future financial the question-and-answer make events or Associates.

on and guarantees that forward-looking statements results involve and in and actual from uncertainty particularly of report that cautioned future COVID-XX from are could our updates note, the particular, Form cause not in projections. well performance refer you fiscal performance XX-K differ from materially Form our that projections, these pandemic factor on differ in risk Manhattan our our discussion to You we for Annual in materially the SEC those our subsequent factor materially the the cause of factors risk in forward-looking the actual for with results year impact Report I uncertainties, may that risks We could results contained provide actual reports as any differ are as projections files XX-Qs. to our important Associates regarding statements. to XXXX that

no to under update obligation are We these statements.

to an In to non-GAAP addition, certain our provide additional information effort include measures in financial comments investors.

GAAP with measures We have rules. accordance related non-GAAP in the all reconciled to measures SEC

submitted on the website our You'll find in X-K earlier SEC at reconciliation schedules and today Form to the manh.com. we

the Eddie. turn to over call I'll Now,

Eddie Capel

with services Both on and XX% our million and $X.XX expectations. Strong XX%. fueling to and results Associates. Above top full-year growth between outlook cloud outperformance, vendors we off. review our preliminary very We you investments were global adjusted record revenue supply leverage. thank revenue diluted Product performing discuss third line focus on And per drive in and strong of all-time increasing Thanks, customer earnings other increase. sequentially well and million, to Manhattan as and provide increased RPO teams a providing year-to-date year-over-year our and visibility. demand these $XXX moreover, our us software our to chain everybody, share bookings metrics Manhattan some of Mike. results, Well, double-digit earnings us and with future record increased exceptionally excellent Total afternoon, QX continues laser XXXX joining good third beyond. continues and XXXX are innovation quarter delivered for with to success. updated are quarter differentiation XXX% $XXX revenue for an exceeded paying XX% all, color

Over up moving of to refreshed color Additionally, includes XXXX. strong generated continues from and milestone pipeline our and the we're about provide billion business more cloud visibility, through of suites. original consists reaching XXXX QX demand our demand. RPO our in of revenue XX% across cloud of be solid XXXX. $X in XX% bookings our our but our call, providing guideposts Dennis from new XX% product with pipeline new customers. of robust the with opportunities to representing net were customers And net with contracted And potential target RPO later momentum for of increased will this that

food apparel, and XX% services than drilling From quarter, as verticals, industrial, for retail, rates innovation manufacturing our wholesale into stores, diverse, our as well and nondurable health the pretty beverage, grocery, XX% more drove of bookings a and department durable they're the the goods. On sub strong as but including about perspective, competitive recognized sales win vertical front, at industry-leading. is remained as

with conducting to And revenue for up QX. the quarter, XX% continues Our execute compared services amazingly was XXX services prior-year in team over well, global go-lives period. the

the continue call, growth, is be talent QX And to mentioned services market do for strong, wanting for while we to the positioned our competitive we faster teams, We're significant demand technical in for a talent, workload our and to existing we're expect extremely our talent. very pace. put accomplish guidance. focused and with well mindful and on and which of continue As and customers we more to at that and attracting planning solutions on we operational new factor with into our retaining we're

applications the that spend commerce numerous unnatural supply really Manhattan boundaries we're don't approaching artificial with on is to $XX annually, unify silos cloud modern front, providing our million with on and business chain are of leading On or R&D experiences. innovation focused align that removing architected the edge native workflows.

industry-leading Our technology be customers extensible. we solutions can Manhattan ways, And market cannot. our efficiency to that and but their solutions. including couldn't And SaaS leverage to more solving adapt quickly and this scalable, very a Manhattan is and challenges that enables systems more in robust It early our response enthusiastic and the data active with legacy journey, pleased believe and simply are changes. differentiating market's we versionless in to Active still our cloud silo we're improve

or industry's Active form optimization spend supply few actually industry's And a also off and by we've unification really chain, and resonating Manhattan Management, the our specific start strategy to Transportation and customers next-generation just of Chain, distributors currently on seeing retail to a We're is XX Transportation great or continues live choosing beverage store Active labor analysts, Active the outside migrate we're for words, distributor, let's fastest automation customers minutes months, message transportation, with of WM is Manhattan WM pretty execution a the to platform. partners explosive customers. balance So Active first chain received and the WMS products XX The updates multimodal sampling with X platform. being solution native smartest and experience since cross-vertical pretty Transportation been short Active with Management on are perhaps and between customers process Management distribution, transportation either on good Consistent its and the to of growth. Manhattan architecture. within chain is industrial it, the Manhattan the Manhattan Management a luxury industry's Manhattan built of different unifying Manhattan other these live supply joint Manhattan Supply Manhattan customers net Manhattan application. realizing a in XX joined WM. several Active TM globe. self-tuning of Warehouse Active national engine. heartened include Active small just, and from Active self-configuring customers. TM cloud of benefits launch, a existing industry-leading we've several is Tier Active system our Manhattan department are encouragingly, our of the Manhattan customers US to industries, clear with accolades implemented across unified across and is prior quarters, international deploying In very Active applicability. WM other in single national In testament what nice Active countries most new to Manhattan grocer and supply application the the Manhattan half implementing WM, first

Manhattan win that pretty rate helped high, and high us Active already with has Our WM WMS bar. always raise has been competitive

to omni-channel applications. now our turning Now

small point-of-sale we Manhattan Active for a New of provide Active of deploying in management, to their point full they call to and stores for host events close ago, such global footwall We outlook, customer Asia update our our a brief And summary some on across host report transformations. the two particular apparel unified was couple And to weeks the Active a And it person quite events to systems that time Manhattan Vegas. person store activate quarter connect group updates believe new Las operating provide is of and prepared out point-of-sale performance Americas, our saw a tell then to in continue also omni first and Manhattan several the move that its strides a across point-of-sale in This customer in Europe. saw application. to and time. globe. pleasure This advantage pleased unified quarter, a were we happy order And financial able concludes brand, a we in Active plans were And customers going of brief to I remarks Manhattan that Dennis part for I'll platform with view, to featured is after and and Manhattan center of make intimate solutions to geographical Q&A. customers past bricks-and-mortar with and long from commerce progress Manhattan a Netherlands strategies how our before contact break. runs Active such close Active management you, business update. product with their ability in the application order with in and a got chain we in a their and you deploying clear the UK, operations. an strategic and Well, and digital this unique customer pretty digital a York Pacific finally my I'm order management, omnichannel across them supply platform help France in and as can the discuss to some and to flagship

So, Dennis?

Dennis Story

otherwise we Manhattan metrics. on continue a the our profitability, recap in cash with rates of record but stated. strong revenue I'll bottom, a the delivering and with growth balance Top a global choppy year-over-year accolades start macro Total up Nothing sheet unless $XXX basis, to to Eddie. Thanks, XX%. flow raise teams. for a growth, quick bar was million, quarter

our and services. maintenance total up cloud XX%. total compression by removes revenue of revenue, Notably, by the cloud XX% which driven now our was Excluding and revenue driven is our license transition,

profit GAAP XX% margin of operating adjusted XX.X% QX was million, with totaling $XX and margin XX.X%. operating of Our a record operating up

by XXXX points margin assuming about with was Our year-to-date for Adjusting expenses share we from was XXXX up remain basis put over year-to-date Earnings our basis XX%. Compared by estimate adjusted XXXX. revenue levels, services these way, strong by another pandemic. points a per to operating expenses XXXX basis the cloud unchanged approximately expenses COVID would and or performance by COVID record year-to-date, lowered year-to-date lower and be driven XXXX, XXX XX% about up to COVID combined points, compared $X.XX, respectively. XXX XXX driven

include Our benefit share did earnings $X.XX per tax statutes. nonrecurring tax with associated of expiring

$X.XX, record. up XX%, normalized a was way So, either EPS

on record cash XX% year-to-date It margin? the year-to-date with continues and was both a the be for global totaling How free cash quarter up about margin million, at QX operating and XX% QX in million flow performance XX% strong cash $XX year-to-date. collections. EBITDA and and to Our XX% year-to-date. XX% our was $XXX record flow quarter

solid outstanding shares Also, debt, in diluted And year-to-date. quarter, be million the has Our be for resulting our invested providing no million $XXX us $XX to the the fourth sheet cash we and $XX approved buybacks in growth. buyback to flexibility share $XX full year, for rock in assumes to excellent in buybacks our with That activity. We continues covers invest and repurchase in balance X which about million million quarter share board macros. customary XX.X estimate shares, authority. our million

quarter down our as drill strong XX% up revenue a Cloud new let's demand. accelerate continues annual Now bit in totaled market to $XX on million, into value little revenue. the contract

we QX, revenue of For $XX.X roughly million. expect cloud

mentioned, a As quarter obligation. QX record was performance Eddie third with remaining RPO,

double-digit totaled in bookings $XX and us our million, at Services RPO growth, strengthen, year-over-year revenue sequentially. subscription as revenue confidence visibility XX% improving. continues into are our our million, positively, cloud APAC RPO projections. Americas Our to our With visibility demand Europe continues and XX% was XXX% continuing $XXX services to momentum future revenue with guidepost forward compound growth. fuel running to up and giving up

retail earlier normal than QX given constraints. chain it's starting peak For season, supply

growth XX%. about year-over-year services with forecasting million revenue to are of We be $XX

revenue demand. implementations from As a to you, traditional the their customers as slow retail represents our meet peak sequential reminder customers' decline QX seasonality most of to

year team XXX growth margin expect up basis to prior and retail period up for XX.X%, ago consolidated over peak margin and was performance down revenue of to season down up collection over was is revenue we year. and by million, timing. growth And points XX% maintenance double-digit cloud and was million, $X final primarily the compared the hardware one revenue Accounting in License resulting gain, on us full setbacks, basis XX% to QX revenue XXXX the guidance job, revenue year and Our was X%, our call full predominantly cash $XX out, points years. Barring any subscription, margin Transitioning global leverage. guidance. record driven major year-to-date. maintenance puts quarter for operating services XXXX macro XXX investments, year outlook deliver XXXX preliminary our guys. the XX.X%, Good track in consecutive be XX.X%, about and on to

margins, operating double-digit sustainable deliver to top annually comps. benchmarked and is growth obviously top objective overarching line against Our quartile SaaS enterprise

range our $XXX up XXXX, are our to from million. prior revenue million, to to $XXX For $XXX $XXX total million we raising of guidance million

growth and XX% compression from midpoint. maintenance, total XXXX ex transition targeted revenue is the to be underlying our revenue which Our license removes the cloud at

For margin investments. QX, we impact XX%, to factoring in million is and $XXX million. be peak to revenue Full $XX expected compensation total year retail special including $XXX expect retention million of in revenue season and to XX.X% performance-based operating

year our $X.XX up to to from full earnings be range $X.XX $X.XX, expect adjusted We of share per $X.XX. prior to

For to GAAP our of And EPS, previous $X.XX guidance expect to to up adjusted $X.XX, X% $X.XX midpoint range $X.XX for the we range a our QX, be with from $X.XX. EPS midpoint in is of $X.XX. of

increasing representing to year $XXX growth. full million, cloud For estimate XXXX, XX% revenue our is

our $XXX also $XXX $XXX million. target $XXX QX midpoint from RPO is our of million increasing over provided million XX% up The our outlook initial QX RPO $XXX range to to Given range performance strong to are year-to-date, we XXXX up a our our prior million, of call. from on earnings million outlook in and

year full attrite positively increasing revenue and solutions. our XXXX, For license demand on continues to for cloud maintenance

$XX be expect and roughly million. about maintenance million We to license $XXX

maintenance expect be we about QX, $X.X roughly to $XX million. million and For license

million. Our and rate GAAP tax rate And is CapEx for about $X adjusted $X of estimate approximately XXXX XX.X% expect we full XXXX, a to XX.X%. year million an of for tax

XXXX So that outlook. quarter covers and the our

preliminary cover targets Let's guideposts. some XXXX and

you facilitate a we are have page our our Number in in our review Please for a our cycle geometrics budget guideposts. last to parameters though, up call. updated will we providing currently, of supplemental today's Item all, a so our schedule, added on note, We current release, earnings X QX original firm comparison and

are the As all shows, for our guideposts revenue moving higher. we cloud materially and schedule RPO

the February. adjusted growth In of in guidance. are our our operating Please midpoint margins rates color from note are improved year-over-year provided addition, on our XXXX initial based

to maintenance Our of $XXX growth. growth million, preliminary All license revenue XXXX excluding estimate our initial total XX% in, and $XXX at X%. is is million target attrition

to year XXXX is $X.XX full $X.XX. Our adjusted range EPS

three-year annual For million Exiting achieve the are growth XX% at XXXX revenue, we rate the XXXX, targeting to including of midpoint ramp revenue of a cloud XXXX we expect our million revenue, $XXX at midpoint. representing to transactions, compounded to growth XX% in cloud $XXX targets. XXXX

In of License billion three-year in $XXX CAGR $XX are $XXX of XX% million growing of of the attrition maintenance. revenue to revenue are our longer $X maintenance tell a numbers. to targeting targets services $XXX XXXX, Those XXXX, to we million, to and RPO, $XX which represents X% also million $XXX of a continue at billion midpoint million XXXX. growth. we For targeting in to revenue expect for are $X.X million of we million as big

XXXX. decline targeting to margins attrition XX% margin $XX X% expansion factors of inherent The million leverage margin our revenue about XXXX to services license of totaling operating are margin the Our about investment. be and points consolidated basis about year as in in at in XX% in cloud, XXX inflation customers and points market attrition Wage margin expected include XX and to to we driving and maintenance impact. labor subscription, XXX the starting and for accounting maintenance basis with are XXXX XX%, trends pegging shift operating basis is and point XXX over model annually an XX.X% at to annual impacting

for talent we labor expect demand technical XXXX. very to continue discussed, to previously market we've the through As competitive high, and be is

appreciation contractors, in R&D, basis return XXX customer we as continued expenses and COVID Continued events, our sales total conference, cetera, customer company employee investment such our demand, by and services impact about et annual of points. marketing are momentum travel, across fueled and investing the

buyback effective to We tax also be our approximately million no shares, and activity. which expect share our approximately XX.X rate will be XX%, diluted count assumes

So, versus of assessment our Remember XXXX cloud and assist comparison summarize growth investors' should guidepost located XXXX lastly, our release. our guideposts better I'll trajectory. in our of are earnings that earnings and historicals future

of introducing $XXX growth representing XXXX, midpoint. $XXX the $X.X XX% $XXX representing XX% midpoint. million $X.X RPO, are to Cloud growth we for of $X.X we midpoint. targeting to the million RPO million, at XX% the at to billion at representing targeting XX% revenue million, XXXX, targeting billion revenue, representing $X.XX And billion, at growth the billion, to midpoint. $XXX For growth are we're Cloud

So that very covers Eddie Thank the you financial back update. for remarks. much, some to closing and

Eddie Capel

associated results. a And to Good turbulent report. And while operate course, our Dennis, thank our you. with We're momentum continue and we're accelerating is quarter very very year-to-date positive. in very and RPO strong macro pretty global environment, of revenue encouraged business third by we growth. pleased

forward, we're for help success deliver our their drive customers look we our As to ability them transformation. in confident and digital

and we that, be for take happy As result, sustainable with any questions. to And Associates. long-term, profitable we'd a anticipate Liah, growth Manhattan

Operator

All question from line Instructions] Securities. Truist the first go Please of your right. ahead. [Operator And comes from Terry Tillman

Terry Tillman

my Thanks CMO. just to it's hiring Eddie, probably Mike, I of see on Maybe, the curious, her you marketing have to I questions. days, Yeah. ask the Congrats. do for branding, having you early guess on continuing know question. with. maybe and evolve of but - still said Congrats what that and should begin Exceptional in Dennis taking I the a I'm activities? go-to-market impact of and kind Eddie, terms I'll results. hi,

Eddie Capel

out. of Yeah. done, as Terry, have get obviously industry's we're pressure to got best well and to the able the be anxious at putting we of secrets, frankly, kept that Yeah. day, we've we're It's And pleased early, board. on end without we've as too very but her think, message and some much to still on the

to we're our help to opportunity just And do overall, transformation. awareness, the community, for frankly, our our drive share message out business and the get a have customers digital particularly broader here in products. the we with industry that think I with newer So, stories

Terry Tillman

Understood. healthy for good, Well, maybe some though, pressure Ann. is

great that's the somewhere there's XX% maybe middle great. was okay, but see contracted in the to bookings It So, logos. new there, from

kind closes new the this of lower because picking of like terms been up. activity the been you in building So loop pipeline have has

into see it before, the been getting certain is types kind conversion active can kind Any going that number. haven't of the segments? with just striking there? I'm other it's retail curious you So e-commerce-oriented you DTC about provide it that cloud just or What the of now something markets a micro of curious of you the is I'm products color on. more because is or is, you whether of parts

Eddie Capel

specific Yeah. don't any Terry, little or that demand think verticals, there bit some of with - think there's I I micro pent-up but verticals industry the a sub has do been waiting this emerge, innovation real cloud-native, case, to generation a innovative in to or very of cloud generation for new on next basis. next access those, regular the native solutions of being

with definitely there. and seeing competitors on older the we nice seeing of customers from it's We're we're before. some industry. not out focused So business are haven't quite that But but there broad - fortunately given is uptick some it done some any takeaways that from out

Terry Tillman

and question, in flow, Dennis in flow actually of I on than strong just But quarter, final us the expected. had the the terms I cash Dennis. figures the The a helps lot stronger And cash it. and a Mike, end was my question lot Got appreciate that a at are guidepost.

operating we free XXXX anything a or whereby else on are cash about flow margins? I similar higher things into any you Just flow. call just things cash free flow, usually could you As on about don't can but CapEx pattern and out cash onetime thinking see you guide think know than XXXX, margins

Dennis Story

earnings quality Yeah. items, quality of of great quality one flow. No onetime of cash and

definitely year going post free year. potentially EBITDA to another upcoming year, surpass And flow operating as margin potential well we're expect I'd yes, the record up this as next and So margin. to cash

Terry Tillman

Thanks. Congrats. it. Got

Eddie Capel

Thank you, Terry.

Michael Bauer

Operator, we'll the next take question, please.

Eddie Capel

Anybody there?

Michael Bauer

issues. she's next Everybody the take some are call, told you Operator? technical having Operator, can the question. we'll us there? the hear us, Liah. operator Liah, Liah, that just you on

So, standby.

Operator

ahead, question Please we a go again, with sir. Joe have queue Once in from Baird.

line Your open. is

Joe Vruwink

Great. Can you me, okay? hear

Eddie Capel

But a be Joe. please that the for to everybody technical appeared away, to break can, short challenge there little Joe. We with Apologies fire call the service.

Joe Vruwink

I'm seeing are your other customers interest commitment when making of Okay. solutions are WMS, the in wondering within to same WMS Great. the and engagement. a any integrating changes with going you along

the carrying in deals curious if bigger. case, WMS deal are management over getting I'm TMS sizes a that's order or And bigger into So way. the are

quantity So RPO, you're good what there's activity, size is a but I'd imagine up? winning the of also of going

Eddie Capel

Yeah. Great question.

seeing a partner really Just map. overall, transportation, care is our we a is road clearly, are so just Active And get where started. with We've solutions and are with customers whether well. inventory, few management of frankly, don't develop strategy certainly to WM forth, as half Manhattan digital ago. warehouse some multiproduct and to omni transformation Manhattan several We got We management, implementations. launched implementing our months starts we transportation Active them it customers

to So across WM for I are see for it's Manhattan customers, customers TM together great our customers. But you and upsell customers, look prospects and for Active solution the WM at system our other solutions order transportation provide board, they cross-sell. to coming Active management when our our the great Madden think and all that unified

have the is products owns XXX. we've we average any historically, number one about of said portfolio, that products As in our approximate XX the customer that across

and upsell cross-sell of lot a got potential. we've So

they're opportunities though, big. a customers As in when to TM RPO program, the that. pretty Do much an inventory management larger program, and so And at bite a mind, WM far either off your around only question program just can multiproduct, program, once. answer for implement as you yes, that bear is order

to tend we seeing serial a be bit more programs. are unified parallel. certainly joint some than they in So But

Joe Vruwink

out and up times to Americas number I'm quarter of kind are not the of the on or one the at. the went global you the rates carve rate mentioned typically That's call. seeing you global, this trending good a improvement? win have quarter, maybe was coming the relative what that been the just where during announcements it's from wondering I then, And you you're the of of color. geographic noticeable And much if where teams Eddie, so your think win made disclosure it things Europe, is it's breadth can

So there's activity the you're seeing. maybe I'm explain sales help anything in can wondering the improvement and happening kind new if of that what

Eddie Capel

when in really the win I think investment that's to it innovation right it's comes driving continued down the it. ratio

we bounce But little a when customers we why to look bit. at one. turned it us our the I We but the experience I because is so we've number I of the product they other forth. innovation that across that into brought market. around play when And our our talk a think things, certainly, that the all that chose to - got in bring the will tends see about prospects and we be attributes the and we delivery, great to have think, mean role, teams innovation

movement the improvement no both a question APAC of we've a seeing call recovery. APAC I an And In follow terms COVID momentum in little then good Europe, we're and APAC. guess, quarter. EMEA There's it, of, and bit in and one, in behind seen EMEA terms in we'll in closely this bit and more number seeing lag just

back So bringing feel a bit of balance the good about to performance.

Dennis Story

having are million nice as of the deal we $XX impact in about quarter. closures bookings cross-sell Joe, Yeah. some well, upsell

Joe Vruwink

Thanks, Thank Okay. I'll it leave Dennis. there. you.

Eddie Capel

Joe. Thank good. Very you, Okay.

Operator

ahead, the James. And sir. question Brian from next your Please Raymond Peterson line go comes from of

Brian Peterson

and Hi, for gentlemen. quarter. on a really question, strong taking Thanks congrats the

we market we If to outperforming like expectations. one about, guess, obviously, two the stack XX key you're had drove to rank ago, your if perspective, top product So for or of order X think I'm what guidepost what me. had raised. I curious or you a two from seeing that would are months say drivers? Obviously, we're to the kind gets

Eddie Capel

of number have we pleasantly uptick Manhattan surprised one. the WM, think been by Active I

certainly some Management. shall back early the We Manhattan days, picking Manhattan it's that's the say, Manhattan up. activity back of omni. to think omni, but Active we Transportation in subdued and we're around back Active seeing Active then saw I thirdly, momentum And bounce

the my that three, I on roster, So think, Brian. would be top

Brian Peterson

Eddie. on up follow I'll And side, WMS Okay. the

have and I'm months. point into extent WM. think make good, lot months the So the a actually referenceability, we're XX And a to you months some win thoughts like that than just XX encouraging. And customers cloud up obviously, next really the hearing everything guys. curious the get does friction rates your I curious Active first to the we're customers? X brighter the that there. or that running, I'm But that sounds Thanks, is performance, are for

Eddie Capel

We certainly going on, hope resistance to activity tell so. or it, great you early forth. we've the an referenceability you really there. the implementation hasn't want no, and friction adopter But whatever so been got good call or to that or early I'll being

forth. had we We successful, when know, kind you through versionless so As customer of been a very a a updates customer already and beta live, we launched. already of had bunch

continue to across geographies So question, see we And it we point those no see drive continue to success. great have friction. But success had verticals, across more to dimensions, I the across breed think success. a reference get to as opportunity referenceability and certainly started all and didn't get a lot we of

Brian Peterson

Eddie. Thanks, Great.

Eddie Capel

Thank you, Brian.

Operator

of Capital And Mark [ph]. your next Schappel question comes from line from the Loop

Your open. line is

Mark Schappel

of you little Are color for plan to with year. plan? at the there. part, could most a quarter. you us on just I Congrats just for And environment for sense that. want I just on hiring give you, taking Hi. your the the plan on respect good if revisit you to us for behind Eddie, with where starting professional a bit little prepared and just Thank around job your Maybe questions, hiring services my you're wonder team. give remarks this your a

Eddie Capel

little story here. from perspective. acquisition we've frankly. a success we'd the a where Tier globe. in fantastic a company behind, to like around successful with we're like company. a be for Yeah, got But obviously talent be, It's people that got bit companies X to out culture meaningful work is associated a doing question We've No there that the Mark, a sledding tough great

demand. So pretty are. where obviously, ahead magic higher we're little But trajectory be with good by doing we'd one, that's a further I front. could in if question And a that no driven on wave than we a there's

Mark Schappel

features that that that given you be as words, expect maybe approaching that other professional little to as said, as with continue changing said prioritizing doesn't is putting your bit a R&D much and require certain talent. In earlier, time. it the for it in to way and And to easier as you some services far and that capabilities tight you're just install in tight Is projects? make products demand maybe them

Eddie Capel

our provide We're be focused feature-rich. that, trying the innovation want But products. speed Yeah. of We on to cost of drive of Mark, total focus greatest for want be token, and always to got able trying support make of ownership, the to on customers. it. down ownership forth. so total to cost implementation, cost to the same always frankly, by We're to We to our to continue we've

always for and driving bring and people so for to centers, truck I'll we've forth be particularly a there that point last robotics focused bank. taken focus forth, on market, so, drivers cost but tight in specific say the honest, focused on up market obviously, automation, certainly, steps the warehouse corollary capabilities with to so six months total wouldn't the So or any that focus we've I been ownership bring you that. on we is remain we on distribution in very And and helpful a our labor customers. such certainly that blending, of

Mark Schappel

bit to bounce a driving back talk Okay. active business back product. what omni back. is Great. that and your the about Maybe that bounce in your around comments you're And little so-called you seeing then going think just just earlier

Eddie Capel

of personally for quarters, a closed, number stores the one, and we're mean seeing couple digital I were of transformation acceleration the professionally. all that right,

need retail growth the So and driving for strategic store initiatives that stores are and we're seeing of for combination a alike. the wholesale very customers omnichannel and reopening systems

Mark Schappel

Thank from all That's Great. me. you. Thanks.

Eddie Capel

Appreciate Mark. it. you, Thank

Operator

Pfau comes And from line question from of Matt next the your William Blair.

open. is line Your

Matt Pfau

guys. your Hey, out first my are Thanks Wanted with create having. as that drive on taking sure demand of your chain prospects. distractions at or perhaps some questions. customers as for I'm customers to Because many it that business, start is all? How if the imagine could I challenges well supply impacting

Eddie Capel

finished largely got the would say I Honestly, a side. it, obviously yeah. involved positive Matt. Yeah, to it's We're in slight goods

so boats the in to the great managing place sitting else, and not levels. get to those port very, that in all and the the inventory times that a hands sequencing dexterity off the to consumers and goods forth. through at time things inventory movement necessarily these that the inventory, of to to we're of creating very there at the very, our these be that customers But of the or tough speed need Beach our have then again, able sure, of the and manage manage of be accelerate side in import the Long agility for on hit need finished and able So right manage right help And when inventory is through and and solutions fashion. a that high that timely very everywhere course,

Matt Pfau

point-of-sale on any And solution? Great. it. Got the update

Eddie Capel

nice a real a go-lives prepared put couple of of and us comments in quarter. remarks I'll of months. in other wins weeks terrific recent we've terms my few in yes, about couple important the sale. closures, seen in of But point for a And recent

to the customers from Ray as the that might in J forward customers more And see referenceable there. more referenceable you've momentum, frankly. and to forward than So be Brian mentioned, less the got, And sales getting friction and cycle. looking continuing more more that

bookings the these quarter and couple new important in we lights the to and new are we've too. the seen of as go that had are quarter us So sales in

Matt Pfau

the kind between one cloud then two. about Great. timing revenue helpful But maybe of us differences me, how do that can just can in terms for long And and growth, take the growth the multiyear of of think you've the we about and dynamic to those this we of revenue And remind again cloud high. bit given last accelerates little growth now just comes you RPO how discrepancies and off timing down growth differences see sort RPO a it's outlook, how resolve? us

Eddie Capel

shapes and for mean, I of I that those up. know, don't one and supplemental Well, forth dynamic can reasons guideposts you providing so that the see schedules so the how was

the drive built have were of frame. And pin to into by it. normalize, going it'll time it continue to probably XX- token, on we're those of the things to course, takes new same the XX-month to - me kind it'd RPO. for If down dynamic how you same long be to

normalize. XX XX think to I kind really but - months before of that you So see

Matt Pfau

maybe the which things items? deployments your two of would is What the another guess, differences Active at driver WM primary I it understand of for I that way discrepancy I the are Active Okay. main think timing the those driving with between rollout WM implementation to look with implementations, if sort the rollout. Because typical that's be? correctly, the

Eddie Capel

there this lot is to as by the be driven Yeah. call multisite ramp, it, is a rollouts. Well, of we really of aware so thing

up let's average running, that's the WM six-month the deal that the timeframe. to through XX of duration, distribution you're centers with kind to time through the when distribution a and But globe, what XX, site around more global an move So XX, duration takes get dealing it, or call moving Active centers typical snake.

Matt Pfau

Got it.

guys. Thanks, Appreciate Okay. it.

Eddie Capel

Matt. Certainly,

Operator

I'm question the Mark from Please Rosenblatt presenters. of withdrawn. final question the comes sorry, your from line Securities. but was go Zgutowicz And ahead,

Eddie Capel

of thank time, the everybody's good. questions Bye-bye. again. for your very XX you to our talking so. call we'll If about Thanks, forward or say and you much QX - all to days support, Very or you Okay. that's today, in on seeing look we'll for

Operator

concludes you for all And call. Thank participation. this your today's conference

day, all everyone. a You Have disconnect. now great may

Manhattan Associates (MANH) 27 Oct 212021 Q3 Earnings call transcript