Manhattan Associates Inc.

01/27/2026 | Press release | Distributed by Public on 01/27/2026 15:02

Manhattan Associates Reports Fourth Quarter Results RPO Bookings Increased 25% over Prior Year (Form 8-K)

Manhattan Associates Reports Fourth Quarter Results

RPO Bookings Increased 25% over Prior Year

ATLANTA - January 27, 2026 - Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $270.4 million for the fourth quarter ended December 31, 2025, compared to $255.8 million in Q4 2024. GAAP diluted earnings per share for Q4 2025 was $0.86 compared to $0.77 in Q4 2024. Non-GAAP adjusted diluted earnings per share for Q4 2025 was $1.21 compared to $1.17 in Q4 2024.

"Manhattan's business momentum continues to strengthen. We delivered record fourth quarter cloud bookings, and our industry leading solutions are gaining market share," said Manhattan Associates president and CEO Eric Clark.

"Manhattan enters 2026 with an expanded go-to-market footprint and numerous opportunities to drive growth from new and existing customers. Our global team is dedicated to our customers' success, and we are excited for our newly released AI agents to help deliver optimal results for our entire Active customer community," Mr. Clark concluded.

FOURTH QUARTER 2025 FINANCIAL SUMMARY:

•
Consolidated total revenue was $270.4 million for Q4 2025, compared to $255.8 million for Q4 2024.
o
Cloud subscription revenue was $108.6 million for Q4 2025, compared to $90.3 million for Q4 2024.
o
License revenue was $2.6 million for Q4 2025, compared to $5.5 million for Q4 2024.
o
Services revenue was $120.0 million for Q4 2025, compared to $119.5 million for Q4 2024.
•
GAAP diluted earnings per share was $0.86 for Q4 2025, compared to $0.77 for Q4 2024.

 Adjusted diluted earnings per share, a non-GAAP measure, was $1.21 for Q4 2025, compared to $1.17 for Q4 2024.

 GAAP operating income was $67.0 million for Q4 2025, compared to $60.7 million for Q4 2024.

 Adjusted operating income, a non-GAAP measure, was $91.4 million for Q4 2025, compared to $90.3 million for Q4 2024.

 Cash flow from operations was $147.0 million for Q4 2025, compared to $104.7 million for Q4 2024. Days Sales Outstanding was 73 days at both December 31, 2025 and at September 30, 2025.

 Cash totaled $328.7 million at December 31, 2025, compared to $263.6 million at September 30, 2025.

 During the three months ended December 31, 2025, the Company repurchased 415,925 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $75.0 million. In January 2026, our Board of Directors replenished the Company's share repurchase authority to an aggregate of $100.0 million of our common stock.

FULL YEAR 2025 FINANCIAL SUMMARY:

•
Consolidated total revenue for the twelve months ended December 31, 2025, was $1,081.4 million, compared to $1,042.4 million for the twelve months ended December 31, 2024.
o
Cloud subscription revenue was $408.1 million for the twelve months ended December 31, 2025, compared to $337.2 million for the twelve months ended December 31, 2024.
o
License revenue was $14.8 million for the twelve months ended December 31, 2025, compared to $15.1 million for the twelve months ended December 31, 2024.
o
Services revenue was $503.0 million for the twelve months ended December 31, 2025, compared to $525.5 million for the twelve months ended December 31, 2024.
•
GAAP diluted earnings per share for the twelve months ended December 31, 2025, was $3.60, compared to $3.51 for the twelve months ended December 31, 2024.
•
Adjusted diluted earnings per share, a non-GAAP measure, was $5.06 for the twelve months ended December 31, 2025, compared to $4.72 for the twelve months ended December 31, 2024.
•
GAAP operating income was $279.8 million for the twelve months ended December 31, 2025, compared to $261.6 million for the twelve months ended December 31, 2024.
•
Adjusted operating income, a non-GAAP measure, was $387.1 million for the twelve months ended December 31, 2025, compared to $361.8 million for the twelve months ended December 31, 2024.
•
Cash flow from operations was $389.5 million for the twelve months ended December 31, 2025, compared to $295.0 million for the twelve months ended December 31, 2024.
•
During the twelve months ended December 31, 2025, the Company repurchased 1,451,019 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors, for a total investment of $274.5 million. In January 2026, our Board of Directors replenished the Company's share repurchase authority to an aggregate of $100.0 million of our common stock.

2026 GUIDANCE

Manhattan Associates provides the following revenue, operating margin, and diluted earnings per share guidance for the full year 2026:

Guidance Range - 2026 Full Year

($'s in millions, except operating margin and EPS)

$ Range

% Growth Range

Total revenue

$1,133

$1,153

5%

7%

Operating Margin:

GAAP operating margin

24.1%

24.7%

Equity-based compensation

10.4%

10.3%

Adjusted operating margin(1)

34.5%

35.0%

Diluted earnings per share (EPS):

GAAP EPS

$3.37

$3.53

-6%

-2%

Equity-based compensation

1.69

1.69

Excess tax benefit on stock vesting(2)

(0.02)

(0.02)

Adjusted EPS(1)

$5.04

$5.20

0%

3%

(1) Adjusted operating margin and adjusted EPS are non-GAAP measures that exclude the impact of equity-based compensation

and the related income tax effects, if applicable.

(2) Excess tax benefit on stock vesting expected to occur primarily in the first quarter of 2026.


Manhattan Associates currently intends to make public certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. See our cautionary note regarding "forward-looking statements" below.

Manhattan Associates will make this earnings release and a recording of the conference call referenced below available on the investor relations section of the Manhattan Associates website at ir.manh.com. Following publication of this earnings release, any expectations with respect to future financial performance contained in this release or the conference call, including the guidance, should be considered historical only, and Manhattan Associates disclaims any obligation to update them.

CONFERENCE CALL

Manhattan Associates' conference call regarding its fourth quarter and twelve months ended December 31, 2025 financial results will be held today, January 27, 2026, at 4:30 p.m. Eastern Time. The Company will also discuss its business and expectations for the year and next quarter in additional detail during the call. We invite investors to a live webcast of the conference call through the Investor Relations section of the Manhattan Associates website at ir.manh.com. To listen to the live webcast, please go to the website at least 15 minutes before the call to download and install any necessary audio software. The Internet webcast will be available until Manhattan Associates' first quarter 2026 earnings release.

GAAP VERSUS NON-GAAP PRESENTATION

Manhattan Associates provides adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share in this press release as additional information regarding the Company's historical and projected operating results. These measures are not in accordance with, or alternatives to, GAAP, and may be different from similarly titled non-GAAP measures used by other companies. The Company believes the presentation of these non-GAAP financial measures facilitates investors' ability to understand and compare the Company's results and guidance, because the measures provide supplemental information in evaluating the operating results of its business, as distinct from results that include items not indicative of ongoing operating results, and because the Company believes its peers typically publish similar non-GAAP measures. This release should be read in conjunction with the Company's Form 8-K earnings release filing for the three and twelve months ended December 31, 2025.

Non-GAAP adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share exclude the impact of equity-based compensation, an expense - net of insurance recoveries, related to an unusual health insurance claim, and restructuring expense - net of income tax effects, collectively. They also exclude the tax benefits or deficiencies of vested stock awards caused by differences in the amount deductible for tax purposes from the compensation expense recorded for financial reporting purposes. We include reconciliations of the Company's GAAP financial measures to non-GAAP adjustments in the supplemental information attached to this release.

ABOUT MANHATTAN ASSOCIATES

Manhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology, and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.

Manhattan Associates designs, builds, and delivers leading edge cloud solutions so that across the store, through your network, or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com.

Manhattan Associates Inc. published this content on January 27, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on January 27, 2026 at 21:03 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]