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How Manhattan Associates (MANH) makes money
Manhattan Associates (MANH) made $306M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Cloud Subscriptions brought in $134M (44%); Service Other brought in $134M (44%); Maintenance brought in $29.2M (10%). Of every dollar of revenue, 26¢ was left as operating profit, 20¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Cloud Subscriptions | $134M | 43.9% | +6% | +28% |
| Service Other | $134M | 43.9% | +1% | +1% |
| Maintenance | $29.2M | 9.5% | -4% | -4% |
| Hardware | $4.5M | 1.5% | -20% | -27% |
| License and Maintenance | $3.6M | 1.2% | +89% | +168% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $306M | 100.0% |
| Operating profit | $81.0M | 26.5% |
| Income tax | $21.5M | 7.0% |
| Net earnings | $61.3M | 20.0% |
| Operating cash flow | $68.6M | 22.4% |
| Free cash flow | $67.6M | 22.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $306M | +11% |
| Q2 2026 | $298M | +9% |
| Q1 2026 | $282M | +7% |
| Q4 2025 | $270M | +6% |
| Q3 2025 | $276M | +3% |
| Q2 2025 | $272M | +3% |
| Q1 2025 | $263M | +3% |
From Manhattan Associates' 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Manhattan Associates make money?
Manhattan Associates (MANH) made $306M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Cloud Subscriptions brought in $134M (44%); Service Other brought in $134M (44%); Maintenance brought in $29.2M (10%). Of every dollar of revenue, 26¢ was left as operating profit, 20¢ was left as net earnings.
What is Manhattan Associates' biggest business?
Cloud Subscriptions: $134M in the third quarter 2026, 44% of revenue, +28% from a year earlier.
What is Manhattan Associates' profit margin?
Net earnings were $61.3M, 20.0% of revenue, in the third quarter 2026; the operating margin was 26.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.