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Manhattan Associates (MANH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Manhattan Associates (MANH) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $306M · 20¢ of every $1 of revenue kept as net profit · operating margin 26.5%
Manhattan Associates made $306M in Q3 2026 (+11% Y/Y): Cloud Subscriptions $134M, Service Other $134M, Maintenance $29.2M. Operating margin 26.5%, net earnings $61.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $306.2M in Q3 2026, up 11% year over year and up 3% from the previous quarter. Cloud Subscriptions was the largest line at 44% of revenue. Cloud Subscriptions added $29.6M year over year (up 28%), 97% of the total change. Hardware declined 27%.
Operating profit was $81.0M, a 26.5% margin (down 1.0 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, below the 27% margin then. Total costs grew 13% against revenue growth of 11%. The fastest-growing cost line was Sales & marketing (+48%). Net earnings were $61.3M, up 5% year over year. The effective tax rate was 26.0%.
Operating cash flow was $68.6M (down 26% year over year), 112% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $34.2M of share-based compensation. Working capital and other items used $28.7M. Capital expenditures of $1.0M left free cash flow of $67.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $306M | +11% | 26.5% | $61.3M | $68.6M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $298M | +9% | 22.2% | $50.4M | $90.7M |
| Q1 2026 | 10-Q | Apr 24, 2026 | $282M | +7% | 23.0% | $49.3M | $84.0M |
| Q4 2025 | 10-K | Feb 4, 2026 | $270M | +6% | 24.8% | $52.0M | $147M |
| Q3 2025 | 10-Q | Oct 24, 2025 | $276M | +3% | 27.5% | $58.6M | $93.1M |
| Q2 2025 | 10-Q | Jul 25, 2025 | $272M | +3% | 27.1% | $56.8M | $74.0M |
| Q1 2025 | 10-Q | Apr 25, 2025 | $263M | +3% | 24.0% | $52.6M | $75.3M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Manhattan Associates
Manhattan Associates was founded in 1990 in Manhattan Beach, California and incorporated in Georgia in 1998. References in this filing to the “Company,” “Manhattan,” “Manhattan Associates,” “we,” “our,” and “us” refer to Manhattan Associates, Inc., our predecessors, and our wholly-owned and consolidated subsidiaries. Our principal executive offices are located at 2300 Windy Ridge Parkway, Tenth Floor, Atlanta, Georgia 30339, and our telephone number is 770-955-7070. We develop, sell, deploy, service and maintain software solutions designed to manage supply chains, inventory and omnichannel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations. Our customers include many of the world’s premier and most profitable brands. We run our Manhattan Active® applications in the cloud and deliver them as subscription-based software as a service ("SaaS").
In its own words, from its 10-K, filed Feb 4, 2026.
Manhattan Associates against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +14%. Operating margin: 26.5% against the peers' median 20.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MANH Manhattan Associates | Q3 2026 | $306M | +11% | 26.5% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Manhattan Associates 10-Q on SEC EDGAR · CIK 1056696 · Services-Prepackaged Software
Guidance and outlook
13F: who owns MANH and who is buying
More on MANH
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Manhattan Associates guidance history: guided vs reported
- Manhattan Associates operating margin by quarter
- Manhattan Associates net income by quarter
- Manhattan Associates free cash flow by quarter
- Manhattan Associates R&D spending by quarter
- Manhattan Associates capital expenditures by quarter
- Manhattan Associates Cloud Subscriptions revenue by quarter
- Manhattan Associates Service Other revenue by quarter
- Manhattan Associates Maintenance revenue by quarter