Filing Flows › Manhattan Associates (MANH) › Q2 2026 › vs Q1 2026
Manhattan Associates (MANH) Q2 2026 vs Q1 2026 (quarter over quarter)
Manhattan Associates's revenue rose $15.6M (+6%) from $282M in Q1 2026 to $298M in Q2 2026. The biggest changes: Cloud Subscriptions +$9.6M (+8%); Service Other +$7.3M (+6%); Hardware −$970K (-15%). Operating margin 22.2% against 23.0% (-0.8 pts).
Manhattan Associates, Q2 2026: revenue $298M (+9% year over year), operating margin 22.2%, net earnings $50.4M, operating cash flow $90.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 22.2% | 23.0% | -0.8 pts |
| Net margin | 16.9% | 17.5% | -0.6 pts |
| Free cash flow margin | 30.1% | 28.3% | +1.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Service Other | $133M | $126M | $7.3M | +6% |
| Cloud Subscriptions | $127M | $117M | $9.6M | +8% |
| Maintenance | $30.5M | $30.6M | −$69K | -0.2% |
| Hardware | $5.6M | $6.5M | −$970K | -15% |
| License and Maintenance | $1.9M | $2.2M | −$311K | -14% |
| Revenue | $298M | $282M | $15.6M | +6% |
| Other income, net | $983K | $4.3M | −$3.4M | -77% |
| Operating profit | $66.2M | $64.9M | $1.3M | +2% |
| Costs & expenses | $232M | $217M | $14.3M | +7% |
| Pre-tax earnings | $67.2M | $69.3M | −$2.1M | -3% |
| Cost of revenue | $129M | $127M | $2.8M | +2% |
| Research & development | $34.8M | $37.3M | −$2.6M | -7% |
| Sales & marketing | $30.7M | $27.8M | $2.9M | +11% |
| General & admin | $26.7M | $23.7M | $3.0M | +13% |
| Other operating costs | $9.9M | $1.8M | $8.1M | +440% |
| Net earnings | $50.4M | $49.3M | $1.1M | +2% |
| Income tax | $16.9M | $20.0M | −$3.1M | -16% |
| Depreciation & amortization | $1.6M | $1.8M | −$201K | -11% |
| Share-based compensation | $29.4M | $26.5M | $2.8M | +11% |
| Working capital & other | $9.3M | $6.4M | $2.9M | +46% |
| Operating cash flow | $90.7M | $84.0M | $6.6M | +8% |
| Free cash flow (OCF − capex) | $89.7M | $79.9M | $9.7M | +12% |
| Capital expenditures | $1.0M | $4.1M | −$3.1M | -76% |
Questions
How much did Manhattan Associates's revenue grow quarter over quarter in Q2 2026?
Manhattan Associates's revenue rose $15.6M (+6%) from $282M in Q1 2026 to $298M in Q2 2026.
What drove Manhattan Associates's revenue change in Q2 2026?
Cloud Subscriptions +$9.6M (+8%); Service Other +$7.3M (+6%); Hardware −$970K (-15%).