MANH - Earnings call transcript Q2 2022 | Manhattan Associates, Inc.

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Operator

Good afternoon. My name is Dilem and I'll be your conference facilitator today. At this time, all participants are in a listen-only mode. I'd like to welcome everyone to the Manhattan Associates Q2 Earnings Conference Call. After the speakers' remarks, there will be a question-and-answer session. reminder July gentlemen XX, a being call As today recorded XXXX. Instructions] ladies this and is [Operator I would now like to introduce Mr. Michael Manhattan Associates. Investor Relations of Bauer, Head of Mr. Bauer your you may begin conference.

Michael Bauer

Associates' good review will cautionary Eddie language the Welcome Dilem Capel, call. turn our afternoon then over you, quarter earnings and to Thank Manhattan call XXXX and our second I everyone. to CEO.

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

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

We update are to under obligation statements. these no

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

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

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

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

Eddie Capel

first second our outlook results as adjusted results and Manhattan generating total and exceeding have everyone full that of and both a year and we thank revenue QX discuss good review Well, of joining Mike. record $X.XX, expectations. million increased QX Thanks us record per you delivered $XXX for earnings half XXXX. we share the afternoon quarter our for

growth XX% a revenue strong cloud in outperformance in and leverage growth in and earnings topline drove services XX% Specifically, revenue quarter. the

well very our people continue and invest Our to in R&D. for we and customers global executing teams our are in

a key our solutions. consistent unmatched customer key differentiates delivering Active component Our efficiently and in customers' platform and them rates conditions to to mission-critical that and to quickly satisfaction expertise win XX% is our providing industry-leading quarter. strong to profitably contributed changing market Manhattan our and businesses. their to levels the factors with innovation that in success scale innovation and factors industry the continued market The the adapt that a Frankly, ability we're investment are

Now, despite FX to headwinds in million. our XX% growth, QX, RPO, of the leading $XXX indicator increased

the bookings large our perspective, diverse. customers. cloud for and the From strong and industry and opportunity. market XX% from of of exemplifies customers from solutions, a QX, in the our in quarter. drive dollar, products, are first second half will a contributed that was the billion believe FX $XXX totaled the retail, across a in cloud impact bookings particularly existing for due $X up of to both our strong our new the XX% XX%. broad-based bookings FX continue on customers growing quarterly And bookings value of generating while in cloud to to and sub-verticals basis, net prior total Similar net and movements, year. exceed and vary half verticals, our mix robust unique our demand solutions quarter. also to certainly It outlook that And the of the we're we of Excluding geographic Across new this and more remains of than on RPO is manufacturing, regardless to XX% pretty pace the delivering million, strong new of the wholesale, year the locations. we're about Demand vertical any RPO

the cloud of brand Japanese of multinational food wholesaler, one vehicles electronics automotive and recreational others. large conglomerate industrial a in that well specialty products, distribution manufacturer a parts, number quarter a example, and an as as manufacturer fashion include retailer industrial a deals a For specializes in of

So, as pipeline about demand. customers pretty our And see you robust be diverse. continues cloud of with suites. net across our new that And solid demand can represent to product XX%

well the well On team global very front, Difficulty] to execute [Technical conducting services continues our over...

Operator

remain the line. on Please

Difficulty] [Technical Your conference will resume shortly.

Dennis Story

heard verticals. I the

Eddie Capel

Okay.

Michael Bauer

Hi, Dilem?

Operator

Yes, you're back on.

Michael Bauer

Are public's the call, we now? in right on. back We're

Operator

the we Yes, at are live moment.

Eddie Capel

and our I'll All good. But a Very pipeline. everybody, the about back little Well, up talk bit right. very pick cloud I'm technical difficulties. Okay. sorry about

had and suite. least XXX to we We go-lives will team by new on well These our customers quarter. XX% to the we employees of net conclusion contribute And the the to continues XXXX. to team future hiring. And demand addressable the services during represent to our first global that meet continues solid over in about our this think I new needs, our market. incredibly front, our market to pipeline. progress But demand of hires the the well, be and grow conducted X,XXX our over our be they of mentioned half and great customer extend I mentioned in year our QX. in against cloud share ability across at diversity company-wide, make think I with members continue really XXX And experienced added product expect I our that our robust the pipeline, vertical execute

together year. won that success. proud brought the in agile Australia XXth we and of year chain it our we and terrific mid-May really Singapore. agents partners to industry's in about happy voted very also I'm and was person sustainable face-to-face this our And speaking and India, for vision conference annual that team, the our report in to Work Top awards with top recently for hosted change collaborate are them Now and customers laid for product a we were supply and we by very the a we and our commerce. similar event strong great out the see customer to was Place of we Atlanta At talk Attendance our consecutive and strategy. in innovation conference, and

So platform product our two couple concepts newer let out the or assembly and developer rolled Active at Manhattan spend a portal. that we on a me solution of moment event, the

So, assembly. solution regarding solution XXXX. as We for strategy introduced we the concept unification in see next logical step this that the

and warehouse best-in-class we a Now end-to-end our assemblies. this concept Active Momentum introduced And And and active Manhattan we way In which our management our major to as transportation management, Manhattan automation the Omni, true to management a inventory. chain customers to orchestration point-of-sale so deliver refer year, design relationship for Active unified unique yard with cloud refers unification the Omni. reminder offerings: into span develop experience single flows this of concept called, assemblies on. the the and supply solution to Manhattan management, same holds unification that of customer order solution supply management, chain

example the power cross-selling So assemblies give strong our solutions. within to and illustrate the you let opportunities me quick of a

own the demand customers those and particular this of end challenge informs allocation the the continues demonstrated proactively a time maximize from By management position network. in the this the Momentum. reduce is review The to help their our the key and sell-through Given of the the apparel inventory data every that about with the that Active selling direct-to-consumer order running light. in that fashion supply And uses assembly Manhattan throughout locations we real-time inventory view assembling inventory health of avoid at to they're arrives the running global to chain health Active inventory and margin armed they're and positions area continuously Omni, of Manhattan Allocation let's where season. market inventory inventory heavy solution way where to specifically we this OMS pose, assembly

Assembling, deployments. and connect reduces via delivers really allocation specialty uplift, our order and IT case we apparel in complexity revenue And assembly and out-of-the-box that customers. our way made APIs both this unique it's this cloud material margin for across management the possible

to for its the one and technical cloud-native, Active game-changing technology-focused have our talked the the applications, platform our been Now functional customers. of capabilities technology of highlights evergreen introduced Active technology. auto-scaling momentum, innovation Manhattan other in we've in turning of as And key our really to Manhattan our differentiators Like is about, number XXXX Since now the customers. we for from delivered the across our a capabilities capabilities application of extensibility particular underlying vital solution platform categories. important have tech these

technologists So, platform the customer at Manhattan tool self-guided developers portal, we the and for our within base. a Momentum Active reference developer introduced

broader mind prepared And provide financial offer to Now applications Active I'll combined we the landscape. we going our demand for our the is remarks, service you concludes owned that to experiences demand Dennis And with expect develop. Manhattan believe for continue brief and APIs capabilities remain and update. Active Q&A. and enterprises. our maximizing into we of strong. extending for we paired that reflects solutions mission-critical innovation move the And with provides customer technical Pro-Active tool the that seeing with my incorporate enhanced close our with and Manhattan a our inventory, that portal around base strategic of before to when technologists strong then their extensive library to top our applications, And behavior the summary, performance outlook. remains ability we're developer the on with leading profitability of revenue an business to that of Enhancing from customer platform's we update,

So, Dennis?

Dennis Story

Eddie. Thanks,

the as teams execute the board, in investing financial Our results business. Manhattan while well, to we significantly exceptionally across continue strong global delivered

great XX, We otherwise the delivering basis to with are that with of quick a and bottom recap a as sheet profitability, line bar of flow growth, quarter, in balance the compared the metrics. quality year-over-year growth on to a unless environment, continue macro choppy of includes earnings rates cash tracking start Rule top stated. strong to well I'll we raise

So total million, and up currency. XX% up $XXX record reported constant in revenue XX% as a was

the million, XX% of million cloud with Excluding XX% sequentially. compression up XX%. reported license growing removes total which transition, revenue QX quarter, $XX We driven XX%. totaled up and as was and ended maintenance by our revenue revenue, cloud RPO $XXX the

excluding $XX As XX%. approximately million totaled FX Eddie $XXX first million up RPO in half headwinds, mentioned,

million the We of year, RPO outlook, of are we $X $XX $XX potential end well million to FX positioned to exceed this headwinds. high second of the during half our estimate in which billion

on up services park to continue QX the sales earnings services XX%, century update mark, knocked expect revenue recording call. $XXX guideposts as we passing RPO, revenue of the our to it globally. fuel Regarding out cloud growth QX million

up $X.XX, leverage profit target Our XX% for record In combined totaled continue with EPS share QX, outperformance the growth adjusted margin in invest for and operating prior revenue the QX margin $XX we QX operating operating of importantly, to $X.XX. resulted operating per quarter. XX.X%. of GAAP XX% versus And earnings was with drove future million, growth. our This

Turning XX%. flow million to cash king. was EBITDA is operating solid flow margin margin was a XX%, free QX was cash $XX Adjusted XX%. up cash and

As discussed timing the Cuts refer $XX of our impact period. cash with year flow of absorbed us for million our and more law. you did cash quarter, in ago incremental -- payments to last Tax Item cash that Jobs release, earnings a this Act, US QX eight tax information the not the under we I new tax associated year-ago on on

Also zero million XX% repurchases balance buybacks the in the million. our cash invested $XXX solid. with share we million quarter, Board $XX share start our year-to-date. with and in let's in In We $XXX resulting authority. Deferred of million quarter ended million replenishment invested in year-over-year Regarding has the to approved increased repurchase revenue $XX our $XXX sheet, debt.

Now guidance. XXXX turning our to updated

mentioned, are deliver comps, are raising double-digit, quartile and our top of SaaS our and growth first margins, consistently increasing sustainable top we we visibility half to again doing. is outlook. As operating financial benchmarked With strong objective our against XXXX which enterprise line performance,

with of million growth. million, is We X% our as $XXX XX% $XXX.X midpoint, representing up a growth million to and from revenue removing impacts. reported prior and are FX guidance million $XXX total raising range growth to midpoint This XX% our $XXX

Excluding growth would license XX% FX. and removing as attrition, XX% and be reported maintenance

$XXX of $XXX to delivering year-over-year. revenue $XXX million million QX, with X% growth million For total we expect midpoint,

QX's maintenance midpoint the license growth revenue, expected FX and growth would XX% be Excluding is and at XX%. removing

up our previously we are in growth operating our from We continued XX.X%, including increasing margin XX.X% XX.XX%. highlighted investments Yes, factors midpoint midpoint of I our our of XX.X% And operating hiring and range prior margin XXXX talent. have to guidance for original our said maintenance and performance-based demand retention is such in-person reminder, attrition return we are the and Talent pandemic-impacted cloud well. customer solutions. hiring. and Also as impacted conference as expenses Momentum our well also as just license compensation as our for of by a to margin

midpoint, per the $X.XX, full prior adjusted a up our to is to with our $X.XX guidance we to moving GAAP of for midpoint X% raising EPS, $X.XX And Regarding from is $X.XX. share, to $X.XX. up year range earnings which are range $X.XX

services For and $XXX and on XXXX, in cloud GAAP and year in range of for GAAP our adjusted QX, Further services basis revenue we for of expect our and $X.XX the QX traditional to EPS we peak estimate are million, cloud on midpoint. At $XX $X.XX between the representing revenue $XX will full compensation. and $XXX represents to million revenue, QX, to million accounting quarterly EPS to million adjusted revenue drilling QX for we retail QX midpoint. investment and increasing growth down with the the And increasing equity-based to $X.XX, million. EPS EPS, at million We XX% for are $X.XX million of representing $XXX million revenue this difference solely represents $XX be a approximately seasonality. midpoint, $XXX growth forecast to $XXX the XX% our at

we slightly our revenue maintenance Difficulty] are For range refining [Technical revenue,

Eddie Capel

you Can operator? us, hear

Operator

we can. Yes

open sir. Your line is

ahead. go can You

Eddie Capel

we Yes, can. yes

Dennis Story

Yes.

Okay.

just backing a little bit. it So I'll here up

revenue for to of in range refining $XXX.X million revenue million million QX. million $XXX.X at We $XX maintenance to and we revenue anticipate our are the midpoint $XX For maintenance slightly QX.

be revenue about of per in averaging of year. to revenue about remainder the for license the license $X expect total quarter We revenue, X.X% million

QX. expect we $X.X $X in hardware, million and For in about QX million

which Now do moving well what we profitability. or is shifting to

services, and be in and to maintenance XX% XX% margin consolidated about expect subscription QX we in For QX.

XX.X%. we at achieve seasonality. operating the XX% in sequential peak guide, to expect QX operating XX% year of margin midpoint, Remember, QX. we in All full margin midpoint at QX of about the for For for and expect the our margin decline retail set accounts

covers you. be which And be some and the in remarks. caps Finally, of we financial million all diluted XX.X expect half buyback to approximately to and our rate XX.X% QX no that count Thank tax finally closing first to resilient share performance for update And for back assumes shares, Eddie activity. year. our

Eddie Capel

apologize our listen, we're in saw may year-to-date And ability for frankly had the we pipelines breadth while our blips your hope both understand in that Demand our as to to new to global the Yes, during applications. perfect. Because the very turbulent QX. environment, technical positive. operate momentum results. continue the second didn't are quarter I the Well, despite global remains Dennis. executing a pleased Thanks, of FX is have to we with call. again that macro for -- well progress existing shift our we very quarter, it and I our teams impede drag our want turbulent to and our strong our business cloud-native incredibly customers well solutions and industry-leading very and continue results

around call. our for you're be to fabulous doing Dilem happy thanks globe. to questions. the the And you all again that also, for work everybody that, employees any will take our joining So thank With

Operator

comes Instructions] sir. show our Terry Tillman of first I And the question Please ahead. from [Operator go Truist. you, line from Thank

Terry Tillman

Yeah.

so and of call can't bad congratulations, to the currency, First, end there. wasn't ending if the getting good your you of be a even you guess darn conference RPO. got to it's results pretty the despite close silent low in it see I operation, for

preamble. to next revenue How not really thanks XQ. revenue And I'm and into ask on to, the see. already good it we're the cloud giving revenue visibility question updates, I quarters know subscription of and was relates accelerate way that or XQ. going know would if was It giving into for about sub you update mistaken. actually of XXXX, was impact All So build, is any to you thinking seeing acceleration would guidepost, an color. subscription One a was but like the couple not XX%. you're you're the over acceleration not enough meaningful I Dennis idea right any are cloud to up next in pretty the but my subscription there just FX I year? in

Operator

to continue please gentlemen, hold. and Ladies

will call resume momentarily. conference Your

you Okay. back Bauer, Mr. are on?

Michael Bauer

Terrific. you. Thank

Eddie Capel

All right, line. We'd concluded Well, might take I Dilem. the to questions any we've the be happy be call. that think in

Operator

open. Tillman, you your Could repeat is your Mr. line please Sure. question?

Terry Tillman

opportunity to up. And sloppy the an clean this going was me now make it question gives question to tight. a Yes. I'm It so real

So the couple in next there is change Dennis KPIs. the notably changing including guideposts the years sub that about accelerated is across you all XX%. potential question the any revenue the cloud I what from up acceleration know not actually builds of subscription over revenue any how the of XXXX? thinking cloud to originally But were you're

Dennis Story

say Terry. an we given But it we're annual make multi-year. the that estimates longer-term basis. on we'll we're clear that only about guideposts would optimistic those provided did I that revise We

we're answer think the until year. end we'll frankly encouraged, So to that I definitely question the of but defer question the and the

Terry Tillman

Maybe cash the Okay. then question seasonality XQ I Dennis the cash think for and we but had cash I'll impact, a on and flow. [Technical Eddie. sense Any the a on cash I And cash flow. think on for PS about, you you I Got strong tax about then the had XQ saw you to Difficulty] it. final flow? impact Anything know mean, but though follow-up revenue expenses how

Dennis Story

our Our cash margin operating that range. margin flow will right to be probably similar in

Terry Tillman

For both quarters?

Dennis Story

Yes.

Terry Tillman

us strategy? WM give that. where do terms embarking the that us customers gave in of an it draw the case on you Okay. in that's got of of just update And like over -- about me old quarters. to Can Cool. last now wanting you've And WMS cycle. wanting Eddie I you a to your days couple know are cloud innovation on an people update into ask cloud feels to you then the maybe refresh it's are going

building many terms Thank process? in it now you. is where of in folks Just how are

Eddie Capel

great that's Yes, a question.

I few think it on every days. changes

about two. under of XX be and of so across might we're contract busy over And two. either XX the I base. pretty here or But at summer or the one customers live Terry off go-lives plus XX or are forth. across, are countries we're So we're season XX We think, sites one now minus I customer frankly

encouraging. very definitely it's So

Terry Tillman

great. the half. for That's second luck Nice Good Thanks. job.

Eddie Capel

you, it. Thank you. Terry. Thank Appreciate

Operator

I show line go Brian you. of Raymond from the next And question Thank Please comes from Peterson James. our ahead.

Brian Peterson

quarter. congrats on Hey, strong the gentlemen,

bit. to guidance think an wanted the a for XX% the we're How of the I strength So obviously, year. services There up that of the do mean, the a is comp. obviously unpack was there. I the And business? lot the all XX% terms macro, It on trajectory about up growth in just be seems but seeing is really out news RPO crosscurrents of to strong. you

So, for three-year services we of maybe the think to do kind like think as the in how about that two outlook macro? we current about yes,

Eddie Capel

-- when that a Yes. update we Well, think of to the at the about three-year again from outlook, we'll end Brian, year. two the

updating think as it. too said software built bit be frankly two might a good have having But into we that or outlooks quarters have you I sales much services the because demand know -- of every of three-year into couple and… volatility our visibility

Operator

gentlemen, Ladies please continue to and hold.

momentarily. resume [Technical will call Your Difficulty]

Michael Bauer

hear guys now? you us Can

Operator

Yes, can. we

Brian Peterson

Eddie, I can Yes. I'm live. you. hear

Eddie Capel

Brian. good. Very Thank you, Okay.

about sorry Sorry, that.

a The strong software obviously, little So, demand sales. our for of kind services. see seen sales we've services strong very software bit. We lags

add attach for revenue were people there's will good that. demand the that feel XXX to of been, -- balance be to they have. several that There we services about And got We've think the questions hundred least cloud been associates. year now we And going you a is that -- see We're in quarters terrific growth. fore feel the X,XXX hiring the we the perspective. next this another it. We've rate see the frankly we've same know on-prem. at yes services our as far the that I coming added actually services saying profile top can obviously of from visibility can And couple about at solutions to year. in so You some to in I

Brian Peterson

macro following just of maybe get customer Eddie kind verticals. questions double of sorry but for of and And up diversification sense I'd the the the where dipping just great. health base That's the on portfolio economic that mentioned kind here, you to of into the diversification the customer love No. And hear in five exposure different today periods maybe of love of ago? versus health today terms product of And I'd versus to years XXXX. or has prior the how is challenge your maybe changed? maybe

Eddie Capel

verticals is customer and maximize across with. make there diversity still with where more for But market a And retention. be clearly sure even satisfaction market particular that's forth. of to so mean general, segments might less desire can I customer in the we maximize challenged, and helps us Yes. they help maximize share, exposure what

forth. are of up those bit, a to expect the for So Hence little even we market services. at so continue kind to with in the competition customers can levels believe, a And is our I there that see help. inventory, being and solutions they serviced our reason and ensure strong both that areas that we still tightens the are obviously serviced that demand

Dennis Story

net XX% logos, year-to-date. new

Eddie Capel

Yeah.

Brian Peterson

Understood. Congrats. Thanks guys.

Eddie Capel

you, Thank Brian.

Operator

next And go I Please show from of Matt ahead. you. Pfau question William comes from Blair. line the Thank our

Matt Pfau

ask there. and the new question Hey that you're seeing guys added you results. that taking thanks I for customers to strength great and on my the wanted

at So I does And from can customers? when close then, coming accounts that is that with what XX%, Or are we at maybe just your and new appreciate Thanks. the indicate that? do what cloud that And discrepancy? you pipeline change it look better net is from for that driving XX% customers quarter-to-quarter. rates that think new

Eddie Capel

is Yes. second think the of piece Yeah, Matt. a just little variability I bit quarter-by-quarter

sophisticated and beginning But in that acquisition to we're as verticals needing tends manufacturing that. that that logo the chain supply we offer. of of a companies nothing particularly. is it's into before manufacturing build those analytical strong types So go terms our been And -- not to in okay be to things. new One we consumer, capabilities seeing not is by penetration overall the think too we've to of is direct really there's driving frankly driven what into couple

years are that success have competitors takeaway are systems older the we're and frankly of we from today. the the pretty some whether market good capabilities Secondly, bygone that technology strategy advanced or competitors current of replacing some again, because needed we having to that from delivering it be underlying the

Matt Pfau

and it. then, And prospects you're -- of in terms demand in retail, or macro that just partly cost role that's pressure your which your Obviously Is that business products to switch Got to interested driven by again the a be inflation over of higher feeling could thinking your are about their solutions some seeing. can playing the of Or all? customers help they're solutions terms in? what how adopting solve. in at

Eddie Capel

I I tell their how likely I think attract it's more been customers Matt, customers. do I And have help you inventory turbulent do that focused can and loyalty -- -- retain sure think of our believe they and their their we that's both To-date on we they going Again, great service those focus times great have certainly with. how management. and on forward. would is customer making things approach

Matt Pfau

Great. Thanks, Appreciate it. guys. Okay.

Eddie Capel

Matt. you, Thank Thanks.

Operator

Mark from Thank show Loop you. from our Please, next question comes go line ahead. Capital. And I the of Schappel

Mark Schappel

business wondering during on your solutions And could quarters a ago. that's on started taking you I still Hi. just the to few you quarter. Thank or that recall quarter. the case. my your business And if point-of-sale question. was wondering nice If seeing point-of-sale was I correctly, larger projects I Eddie, you for if the return job comment

Eddie Capel

is. It is. it Yes,

wins quarter, a later, we had little of nice in fact, across multi-brand a our strategic couple bit to come very more across very the but conglomerate. some multi-brand wins In --

store their entire going talked point as building across many We've complete of for three And network. momentum our in chains us. are go-lives two or some XXX nice XXX, turn, XXX times, granted, seen well. we've sale smaller, Our of rollout that is about

definitely about opportunity, excited strategy where but multi-year about excited we are. very And again, reception. about encouraged the very So clearly, the

Mark Schappel

just if you. on Thank build It -- what was an and then great. any respect you're guide a seeing, just could retail specifically sector. I your in you of in follow-up the earlier appears comment wondering as year not just of you're a slowdown on in question. Okay, the from sign to seeing that And results

Eddie Capel

Yes. is obviously, software too. are win I our that, purchased, mean, indicates is but strong, side that get once live strong obviously, are software true pull-through side, the on is strong, customers what strong the for the value them. is services that is, anxious on demand and rate And, and is to pipelines the that software also delivering

So pretty for about services the the demand good and have pipeline profile the several the next based over we we business on feel visibility the for quarters. again, sure,

Mark Schappel

That’s me. you. Thank for Great. all

Eddie Capel

Thanks. Thank you, Mark.

Operator

Thank you. line Securities. show Rosenblatt I Please, where from comes And our Abernethy question of Blair next from ahead. the go

Blair Abernethy

quarter guys. Thanks. Nice

Eddie Capel

Thank you, Blair.

Blair Abernethy

point-of-sale here upon just side. what's Or here? channel side -- wondering sort how much are relying new in following in Just or the customers that? I'm first around your go-to-market with point-of-sale -- you can up strategy partners the of on question, And your things. just if you refresh of pursuing on us

Eddie Capel

No.

Our Blair. direct, strategy going is of one

the in So we're market. direct

those definitely and partners that's sales got who is success. strategy we're go-to-market the we've our course, our force seeing things. and Of kinds implementations help But through direct with where of

Blair Abernethy

over cloud Okay, here. customers just And the shifting great. to then, -- question

a cloud are after net sort range you? customers average new customers? which how give you what then of, they're And sort an or So new year, can -- the for sense is those growing these -- you at are landing of us their at there businesses of a

Eddie Capel

Well, we sorry. deal the Blair, I’m disclose size, don't

they're in and as well; fall A, busy well. post I But the sale, going implementations of summer that. on us. I got very they're comment can't a I terms and mentioned think B, in earlier, going So front we've a of little

getting and US both the in great feedback brands, world here terrific really Some around the and frankly.

Blair Abernethy

for help. Thanks your much Great. very

Eddie Capel

and Blair, taking pleasure, Our time. for thanks the

Operator

you. I comes ahead. line And last question of Vruwink from go show from our Baird. the Please Thank Joe

Joe Vruwink

wanted One we supply go throughout that's thing bit. the macro kind I had been shows back everyone. summer. little of fascinating, to a Hi, Great. spring, to big chain trade

period from has thrown that project heard off. stronger started up, we supply the you Your was customer it lot left obviously things? How incremental where customers around the So, the of simply chain every a we're maybe year expectations. place customers, last year timeframe And lot indication now, in of in moving year it there. is commitments? of investments? of getting inquiries And chain in case big conference would contrast that's resetting assessments everything getting ready, criticality the are your vendor of seems characterize throughout between and of a updates maybe to was and And obviously, XXXX a macro the into your really budgets new making moderating maybe dollars retail we've a been is two supply divergence kind where allocating point and was kind the the than going realize maybe like these

Operator

continue Sorry. standby. to Please

host join momentarily. [Technical will Your Difficulty]

Operator

Mr. Bauer, the Please you're line. on remain back show on? I

will conference resume Your shortly.

Michael Bauer

can hear? Dilem, you

Operator

you I me? you sir. Yes, Bauer, can hear now hear Mr.

Michael Bauer

Dilem, can you hear us?

Operator

I Yes, can now.

Eddie Capel

You can hear us?

Operator

have hear Vruwink I on the line. can I you. still Mr. Yes,

proceed may your You with question.

Eddie Capel

Well, your technical we had. very afternoon again, difficulties patience appreciate everyone, this much certainly given the we

the now support. enjoy QX summer. sure difficulties We Thank from are of meantime, appreciative with you. we have our rest the to XX the look forward of We'll days to results be when not any please technical very your you. reviewing In

Operator

participating. conference This call. Thank concludes for today's you

disconnect. all may You

Manhattan Associates (MANH) 27 Jul 222022 Q2 Earnings call transcript