Filing Flows › Manhattan Associates (MANH) › Q2 2025
Manhattan Associates (MANH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Manhattan Associates (MANH) reported revenue of $272M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +4% from the quarter before. Operating margin was 27.1%, net earnings $56.8M (20.8% of revenue).
Manhattan Associates, Q2 2025: revenue $272M (+3% year over year), operating margin 27.1%, net earnings $56.8M, operating cash flow $74.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $272M | +4% | +3% |
| Operating profit | $73.8M | +17% | +8% |
| Net earnings | $56.8M | +8% | +8% |
| Operating cash flow | $74.0M | -2% | +1% |
| Free cash flow | $70.1M | -6% | -1% |
What changed
Revenue was $272.4M in Q2 2025, up 3% year over year and up 4% from the previous quarter. Service Other was the largest line at 47% of revenue. Cloud Subscriptions added $18.1M year over year (up 22%), 254% of the total change. License and Maintenance declined 50%.
Operating profit was $73.8M, a 27.1% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 26% margin then. Total costs grew 1% against revenue growth of 3%. The fastest-growing cost line was General & admin (+23%). Net earnings were $56.8M, up 8% year over year. The effective tax rate was 23.8%.
Operating cash flow was $74.0M (up 1% year over year), 130% of net earnings. Non-cash charges added back $1.6M of depreciation and amortization and $24.3M of share-based compensation. Working capital and other items used $8.6M. Capital expenditures of $4.0M left free cash flow of $70.1M.
Questions
What was Manhattan Associates' revenue in the second quarter 2025?
Manhattan Associates (MANH) reported revenue of $272M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +4% from the quarter before.
Was Manhattan Associates profitable in the second quarter 2025?
Operating profit was $73.8M (27.1% of revenue) and net earnings $56.8M.