Filing Flows › Manhattan Associates (MANH) › Q3 2025
Manhattan Associates (MANH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 24, 2025
Manhattan Associates (MANH) reported revenue of $276M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +1% from the quarter before. Operating margin was 27.5%, net earnings $58.6M (21.3% of revenue).
Manhattan Associates, Q3 2025: revenue $276M (+3% year over year), operating margin 27.5%, net earnings $58.6M, operating cash flow $93.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $276M | +1% | +3% |
| Operating profit | $75.8M | +3% | +1% |
| Net earnings | $58.6M | +3% | -8% |
| Operating cash flow | $93.1M | +26% | +49% |
| Free cash flow | $87.2M | +24% | +42% |
What changed
Revenue was $275.8M in Q3 2025, up 3% year over year and up 1% from the previous quarter. Service Other was the largest line at 48% of revenue. Cloud Subscriptions added $18.4M year over year (up 21%), 202% of the total change. License and Maintenance declined 64%.
Operating profit was $75.8M, a 27.5% margin (down 0.7 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, below the 28% margin then. Total costs grew 4% against revenue growth of 3%. The fastest-growing cost line was General & admin (+19%). Net earnings were $58.6M, down 8% year over year. The effective tax rate was 25.2%.
Operating cash flow was $93.1M (up 49% year over year), 159% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $27.6M of share-based compensation. Working capital and other items added $5.2M. Capital expenditures of $5.9M left free cash flow of $87.2M.
Questions
What was Manhattan Associates' revenue in the third quarter 2025?
Manhattan Associates (MANH) reported revenue of $276M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +1% from the quarter before.
Was Manhattan Associates profitable in the third quarter 2025?
Operating profit was $75.8M (27.5% of revenue) and net earnings $58.6M.