Manhattan Associates develops supply-chain and omnichannel software for retailers, wholesalers, manufacturers and logistics providers. Its products manage warehouses, transportation, inventory, orders and store operations, supported by cloud subscriptions, implementation services and legacy software maintenance.
Loading the company summary…
A snapshot of what MANHATTAN ASSOCIATES INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
Browse original filingsSee the original statement for its reporting period, currency, and unit.
3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000950170-24-011411 | Feb 6, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000950170-25-016295 | Feb 7, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001193125-26-037138 | Feb 4, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Manhattan’s cloud transition is expanding contracted revenue, but subscription growth does not translate directly into companywide growth or higher profit. In 2025, cloud revenue increased 21.0%, while services and legacy revenue offsets limited consolidated growth to 3.7%; taxes also absorbed most operating-profit improvement. After the February 4, 2026 annual filing, first-half revenue reached $580.0 million, but GAAP earnings declined as sales investment, restructuring and taxes increased. Operating cash flow strengthened, yet repurchases reduced cash to $186.1 million at June 30, with no debt or credit facilities. Multiyear contracts provide visibility, not guaranteed cash timing or margins. Customer implementation budgets, hosting dependencies and unresolved litigation remain important. This view uses supplied evidence through the July 31 filing; July guidance is a dated forecast, not a confirmed November outlook.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-07-28
Manhattan Active connects warehouse and transportation execution with order management, store fulfillment and inventory planning. Subscriptions typically last five years or more, with revenue recognized over the service period. Implementation services are generally distinct, often billed hourly and recognized as performed. In first-half 2026, cloud supplied approximately 42% of revenue and services 45%: this remains a software-and-services business, not a pure subscription company. Active’s server-side platform depends exclusively on Google Cloud; SCALE also offers Microsoft Azure and on-premises deployment. Hardware is reported net as an agency business.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30
For the year ended December 31, 2025, revenue rose 3.7% to $1,081.392 million. Cloud subscriptions rose 21.0% to $408.138 million, while services fell to $503.044 million and maintenance to $129.972 million. Management attributed Americas services weakness to customer budget constraints shifting work into future periods. Operating income rose to $279.800 million and margin to 25.9%, helped by cloud growth and a favorable unusual-health-claim comparison, partly offset by CEO-transition costs and restructuring. Net income barely increased to $219.948 million because the effective tax rate rose from 18.2% to 23.1%. Lower diluted shares helped EPS reach $3.60.
Sources: 10-K · 2025-12-31
First-half 2026 revenue was $580.009 million versus $535.208 million, with cloud reaching $243.845 million and services recovering to $258.764 million. Maintenance declined, while the license comparison included a large prior-year customer contract. Operating income nevertheless fell to $131.168 million from $136.960 million: sales and marketing expanded, delivery costs increased and June restructuring added $8.263 million. Net income fell to $99.647 million as the effective tax rate increased to 27.0%. Second-quarter GAAP EPS was $0.85 versus $0.93; adjusted EPS rose to $1.39 from $1.31, but excluded meaningful costs and benefited from fewer diluted shares.
Sources: 10-Q · 2026-06-30 · EX-99.1 · 2026-07-28
Operating cash flow increased from $295.003 million in 2024 to $389.470 million in 2025, reflecting collections, noncash compensation, advance billings and accelerated domestic R&D tax deductions—not equivalent profit growth. First-half 2026 operating cash flow was $174.725 million, but $306.476 million of repurchase-related financing payments, capital spending and adverse currency effects reduced cash from $328.747 million to $186.110 million. The financing total already includes public-program purchases, employee tax withholding and excise-tax payments. Manhattan reported no debt and no credit facilities. Cloud, software and lease commitments remain substantial despite the absence of borrowing.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-07-28
June 30 remaining performance obligations were $2.474 billion in the earnings release, rounded to approximately $2.5 billion in the quarterly filing. More than 99% represented cloud-native subscriptions with noncancelable terms exceeding one year. Management expected approximately 39% to become revenue within 24 months, with most of the remainder over the following 36 months. RPO includes future invoices and deferred revenue, excludes short-duration contracts and is neither cash nor a complete revenue forecast. July 28 guidance called for 2026 revenue of $1.160–$1.166 billion and GAAP EPS of $3.59–$3.65; achievement or subsequent reaffirmation is not established.
Sources: 10-Q · 2026-06-30 · EX-99.1 · 2026-07-28
Long sales cycles and customer capital budgets can delay implementations while personnel costs remain relatively fixed. Hosting outages, software defects, cyber threats and AI-related errors or intellectual-property claims can disrupt mission-critical systems. The March-quarter filing additionally reported conflict-related Strait of Hormuz shipping disruption and potential energy, inflation, currency and customer-spending effects, including escalation, sanctions and cyberattack risks; it did not quantify company damage or report a company cyber incident. Securities and derivative litigation remained unresolved in the July filing. Management did not expect material adverse effects but could not reasonably estimate losses; insurance recovery is conditional.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-03-31 · 10-Q · 2026-06-30
USD 928.725 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 928.725 m | 21.1% |
| 2022 | USD 767.084 m | 15.6% |
| 2021 | USD 663.643 m | — |
Consolidated GAAP revenue; hardware recognized net as agent.
Sources: 10-K · 2023-12-31
USD 1.081392 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 1.081392 bn | 3.7% |
| 2024 | USD 1.042352 bn | — |
Consolidated revenue; hardware included net of related costs.
Sources: 10-K · 2025-12-31
USD 219.948 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 219.948 m | 0.7% |
| 2024 | USD 218.364 m | 23.7% |
| 2023 | USD 176.568 m | 36.9% |
| 2022 | USD 128.959 m | 16.7% |
| 2021 | USD 110.472 m | — |
Consolidated GAAP net income after income taxes.
Sources: 10-K · 2023-12-31 · 10-K · 2025-12-31
USD 246.218 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 246.218 m | 37.1% |
| 2022 | USD 179.63 m | -3.0% |
| 2021 | USD 185.183 m | — |
Net cash provided by operating activities, not profit.
Sources: 10-K · 2023-12-31
USD 389.47 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 389.47 m | 32.0% |
| 2024 | USD 295.003 m | — |
GAAP operating cash flow, including working-capital changes and noncash expense adjustments.
Sources: 10-K · 2025-12-31
Reading times are estimates for the English text. Financial tables and charts may take additional time.
