Filing Flows › Manhattan Associates (MANH) › Q3 2026 › vs Q3 2025
Manhattan Associates (MANH) Q3 2026 vs Q3 2025 (year over year)
Manhattan Associates's revenue rose $30.4M (+11%) from $276M in Q3 2025 to $306M in Q3 2026. The biggest changes: Cloud Subscriptions +$29.6M (+28%); License and Maintenance +$2.3M (+168%); Hardware −$1.6M (-27%). Operating margin 26.5% against 27.5% (-1.0 pts).
Manhattan Associates, Q3 2026: revenue $306M (+11% year over year), operating margin 26.5%, net earnings $61.3M, operating cash flow $68.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 26.5% | 27.5% | -1.0 pts |
| Net margin | 20.0% | 21.3% | -1.2 pts |
| Free cash flow margin | 22.1% | 31.6% | -9.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Cloud Subscriptions | $134M | $105M | $29.6M | +28% |
| Service Other | $134M | $133M | $1.4M | +1% |
| Maintenance | $29.2M | $30.5M | −$1.3M | -4% |
| Hardware | $4.5M | $6.1M | −$1.6M | -27% |
| License and Maintenance | $3.6M | $1.4M | $2.3M | +168% |
| Revenue | $306M | $276M | $30.4M | +11% |
| Other income, net | $1.9M | $2.6M | −$716K | -27% |
| Operating profit | $81.0M | $75.8M | $5.2M | +7% |
| Costs & expenses | $225M | $200M | $25.2M | +13% |
| Pre-tax earnings | $82.9M | $78.4M | $4.5M | +6% |
| Cost of revenue | $132M | $120M | $12.1M | +10% |
| Research & development | $35.5M | $36.4M | −$817K | -2% |
| Sales & marketing | $26.8M | $18.1M | $8.7M | +48% |
| General & admin | $29.3M | $24.1M | $5.2M | +22% |
| Other operating costs | $1.7M | $1.7M | $57K | +3% |
| Net earnings | $61.3M | $58.6M | $2.7M | +5% |
| Income tax | $21.5M | $19.8M | $1.7M | +9% |
| Depreciation & amortization | $1.7M | $1.7M | $57K | +3% |
| Share-based compensation | $34.2M | $27.6M | $6.6M | +24% |
| Working capital & other | $28.7M | −$5.2M | $33.9M | — |
| Operating cash flow | $68.6M | $93.1M | −$24.5M | -26% |
| Free cash flow (OCF − capex) | $67.6M | $87.2M | −$19.6M | -22% |
| Capital expenditures | $991K | $5.9M | −$4.9M | -83% |
Questions
How much did Manhattan Associates's revenue grow year over year in Q3 2026?
Manhattan Associates's revenue rose $30.4M (+11%) from $276M in Q3 2025 to $306M in Q3 2026.
What drove Manhattan Associates's revenue change in Q3 2026?
Cloud Subscriptions +$29.6M (+28%); License and Maintenance +$2.3M (+168%); Hardware −$1.6M (-27%).