Filing Flows › Manhattan Associates (MANH) › Q1 2025
Manhattan Associates (MANH) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 25, 2025
Manhattan Associates (MANH) reported revenue of $263M for the first quarter 2025 (Q1 2025), +3% from a year earlier and +3% from the quarter before. Operating margin was 24.0%, net earnings $52.6M (20.0% of revenue).
Manhattan Associates, Q1 2025: revenue $263M (+3% year over year), operating margin 24.0%, net earnings $52.6M, operating cash flow $75.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $263M | +3% | +3% |
| Operating profit | $63.2M | +4% | +10% |
| Net earnings | $52.6M | +10% | -2% |
| Operating cash flow | $75.3M | -28% | +37% |
| Free cash flow | $74.4M | -27% | +42% |
What changed
Revenue was $262.8M in Q1 2025, up 3% year over year and up 3% from the previous quarter. Service Other was the largest line at 46% of revenue. Cloud Subscriptions added $16.3M year over year (up 21%), 198% of the total change. Hardware declined 10%.
Operating profit was $63.2M, a 24.0% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 67% reached operating profit, above the 23% margin then. Total costs grew 1% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+199%). Net earnings were $52.6M, down 2% year over year. The effective tax rate was 18.5%.
Operating cash flow was $75.3M (up 37% year over year), 143% of net earnings. Non-cash charges added back $1.5M of depreciation and amortization and $28.8M of share-based compensation. Working capital and other items used $7.7M. Capital expenditures of $891K left free cash flow of $74.4M.
Questions
What was Manhattan Associates' revenue in the first quarter 2025?
Manhattan Associates (MANH) reported revenue of $263M for the first quarter 2025 (Q1 2025), +3% from a year earlier and +3% from the quarter before.
Was Manhattan Associates profitable in the first quarter 2025?
Operating profit was $63.2M (24.0% of revenue) and net earnings $52.6M.