\nLeading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH<\/a>) today reported revenue of $275.8 million for the third quarter ended September 30, 2025. GAAP<\/a> diluted earnings per share<\/a> for Q3 2025 was $0.96 compared to $1.03 in Q3 2024. Non-GAAP<\/a> adjusted diluted earnings per share<\/a> for Q3 2025 was $1.36 compared to $1.35 in Q3 2024.<\/p>\n
\n\u201cManhattan delivered record third quarter and year-to-date results. Solid demand drove cloud revenue growth of 21% and better than expected services revenue generation in the quarter,\u201d said Manhattan Associates president and CEO Eric Clark.<\/p>\n
\n\u201cWe are optimistic about our expanding market opportunity. To capitalize on this, we are making targeted investments in our people, enhancing our industry-leading solutions, and developing processes designed to increase the adoption of Manhattan Active solutions across our customer base,\u201d Mr. Clark concluded.<\/p>\n
\nTHIRD QUARTER 2025 FINANCIAL SUMMARY:<\/p>\n
Consolidated total revenue was $275.8 million for Q3 2025, compared to $266.7 million for Q3 2024.<\/p>\n
Cloud subscription revenue was $104.9 million for Q3 2025, compared to $86.5 million for Q3 2024.<\/p>\n
License revenue was $1.4 million for Q3 2025, compared to $3.8 million for Q3 2024.<\/p>\n
Services revenue was $133.0 million for Q3 2025, compared to $137.0 million for Q3 2024.<\/p>\n
GAAP<\/a> diluted earnings per share<\/a> was $0.96 for Q3 2025, compared to $1.03 for Q3 2024.<\/p>\n Adjusted diluted earnings per share, a non-GAAP measure, was $1.36 for Q3 2025, compared to $1.35 for Q3 2024.<\/p>\n GAAP operating income<\/a> was $75.8 million for Q3 2025, compared to $75.1 million for Q3 2024.<\/p>\n Adjusted operating income<\/a>, a non-GAAP measure, was $103.4 million for Q3 2025, compared to $98.9 million for Q3 2024.<\/p>\n Cash flow from operations was $93.1 million for Q3 2025, compared to $62.3 million for Q3 2024. Days Sales Outstanding was 73 days at September 30, 2025, compared to 70 days at June 30, 2025.<\/p>\n Cash totaled $263.6 million at September 30, 2025, compared to $230.6 million at June 30, 2025.<\/p>\n During the three months ended September 30, 2025, the Company repurchased 233,425 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $49.9 million. In October 2025, our Board of Directors replenished the Company\u2019s remaining share repurchase authority to an aggregate of $100.0 million of our common stock.<\/p>\n \nNINE MONTH 2025 FINANCIAL SUMMARY:<\/p>\n Consolidated total revenue for the nine months ended September 30, 2025, was $811.0 million, compared to $786.6 million for the nine months ended September 30, 2024.<\/p>\n Cloud subscription revenue was $299.6 million for the nine months ended September 30, 2025, compared to $246.9 million for the nine months ended September 30, 2024.<\/p>\n License revenue was $12.2 million for the nine months ended September 30, 2025, compared to $9.6 million for the nine months ended September 30, 2024.<\/p>\n Services revenue was $383.0 million for the nine months ended September 30, 2025, compared to $406.0 million for the nine months ended September 30, 2024.<\/p>\n GAAP diluted earnings per share for the nine months ended September 30, 2025, was $2.75, compared to $2.74 for the nine months ended September 30, 2024.<\/p>\n Adjusted diluted earnings per share, a non-GAAP measure, was $3.85 for the nine months ended September 30, 2025, compared to $3.55 for the nine months ended September 30, 2024.<\/p>\n GAAP operating income<\/a> was $212.8 million for the nine months ended September 30, 2025, compared to $200.9 million for the nine months ended September 30, 2024.<\/p>\n Adjusted operating income, a non-GAAP measure, was $295.7 million for the nine months ended September 30, 2025, compared to $271.5 million for the nine months ended September 30, 2024.<\/p>\n Cash flow from operations was $242.4 million for the nine months ended September 30, 2025, compared to $190.3 million for the nine months ended September 30, 2024.<\/p>\n During the nine months ended September 30, 2025, the Company repurchased 1,035,094 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors, for a total investment of $199.5 million. In October 2025, our Board of Directors replenished the Company\u2019s remaining share repurchase authority to an aggregate of $100.0 million of our common stock.<\/p>\n \n2025 GUIDANCE<\/a><\/p>\n \nManhattan Associates provides the following revenue, operating margin<\/a>, and diluted earnings per share guidance<\/a> for the full year 2025:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGuidance<\/a> Range – 2025 Full Year<\/p>\n \n\u00a0<\/p>\n \n($’s in millions, except operating margin<\/a> and EPS)<\/p>\n \n$ Range<\/p>\n \n\u00a0<\/p>\n \n% Growth Range<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nTotal revenue<\/p>\n \n$1,073<\/p>\n \n\u00a0<\/p>\n \n$1,077<\/p>\n \n\u00a0<\/p>\n \n3%<\/p>\n \n\u00a0<\/p>\n \n3%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nOperating Margin<\/a>:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP operating margin<\/p>\n \n25.0%<\/p>\n \n\u00a0<\/p>\n \n25.2%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nEquity-based compensation<\/p>\n \n10.1%<\/p>\n \n\u00a0<\/p>\n \n10.1%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nUnusual health insurance claim(3)<\/p>\n \n0.2%<\/p>\n \n\u00a0<\/p>\n \n0.2%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nRestructuring expense(4)<\/p>\n \n0.2%<\/p>\n \n\u00a0<\/p>\n \n0.2%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAdjusted operating margin(1)<\/p>\n \n35.5%<\/p>\n \n\u00a0<\/p>\n \n35.7%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nDiluted earnings per share (EPS):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP EPS<\/p>\n \n$3.43<\/p>\n \n\u00a0<\/p>\n \n$3.45<\/p>\n \n\u00a0<\/p>\n \n-2%<\/p>\n \n\u00a0<\/p>\n \n-2%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nEquity-based compensation<\/p>\n \n1.52<\/p>\n \n\u00a0<\/p>\n \n1.52<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nExcess tax benefit on stock vesting(2)<\/p>\n \n(0.06)<\/p>\n \n\u00a0<\/p>\n \n(0.06)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nUnusual health insurance claim(3)<\/p>\n \n0.02<\/p>\n \n\u00a0<\/p>\n \n0.02<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nRestructuring expense(4)<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAdjusted EPS(1)<\/p>\n \n$4.95<\/p>\n \n\u00a0<\/p>\n \n$4.97<\/p>\n \n\u00a0<\/p>\n \n5%<\/p>\n \n\u00a0<\/p>\n \n5%<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(1) Adjusted operating margin and adjusted EPS are non-GAAP measures that exclude the impact of equity-based compensation,<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nexpense related to an unusual health insurance claim, restructuring expense, and the related income tax effects, if applicable.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(2) The Company expects the excess tax benefit on stock vesting to occur primarily in the first quarter of 2025.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(3) Adjustment represents expense for an unusual health insurance claim, net of insurance recoveries. Based on the uncommonly large magnitude and nature of the claim, we do not believe that this expense reflects our normal operating activities, and we have excluded the amount from adjusted non-GAAP results.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(4) In January 2025, the Company eliminated about 100 positions to align our services capacity with customer demand, which has been impacted by macro-economic uncertainty. We recorded a pre-tax restructuring expense in 2025 and exclude the amount from adjusted non-GAAP results.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nManhattan Associates currently intends to make public certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. See our cautionary note regarding \u201cforward-looking statements\u201d below.<\/p>\n \nManhattan Associates will make this earnings release and a recording of the conference call referenced below available on the investor relations section of the Manhattan Associates website at ir.manh.com<\/a>. Following publication of this earnings release, any expectations with respect to future financial performance contained in this release or the conference call, including the guidance, should be considered historical only, and Manhattan Associates disclaims any obligation to update them.<\/p>\n \nCONFERENCE CALL<\/p>\n \nManhattan Associates\u2019 conference call regarding its third quarter financial results will be held today, October 21, 2025, at 4:30 p.m. Eastern Time. The Company will also discuss its business and expectations for the year and next quarter in additional detail during the call. We invite investors to a live webcast of the conference call through the Investor Relations section of the Manhattan Associates website at ir.manh.com<\/a>. To listen to the live webcast, please go to the website at least 15 minutes before the call to download and install any necessary audio software. The Internet webcast will be available until Manhattan Associates\u2019 fourth quarter 2025 earnings release.<\/p>\n \nGAAP VERSUS NON-GAAP PRESENTATION<\/p>\n \nManhattan Associates provides adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share in this press release as additional information regarding the Company\u2019s historical and projected operating results. These measures are not in accordance with, or alternatives to, GAAP, and may be different from similarly titled non-GAAP measures used by other companies. The Company believes the presentation of these non-GAAP financial measures facilitates investors\u2019 ability to understand and compare the Company\u2019s results and guidance, because the measures provide supplemental information in evaluating the operating results of its business, as distinct from results that include items not indicative of ongoing operating results, and because the Company believes its peers typically publish similar non-GAAP measures. This release should be read in conjunction with the Company\u2019s Form 8-K earnings release filing for the three and nine months ended September 30, 2025.<\/p>\n \nNon-GAAP adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share exclude the impact of equity-based compensation, an expense related to an unusual health insurance claim, and restructuring expense \u2013 net of income tax effects, collectively. They also exclude the tax benefits or deficiencies of vested stock awards caused by differences in the amount deductible for tax purposes from the compensation expense recorded for financial reporting purposes. We include reconciliations of the Company\u2019s GAAP financial measures to non-GAAP adjustments in the supplemental information attached to this release.<\/p>\n \nABOUT MANHATTAN ASSOCIATES<\/p>\n \nManhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology, and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.<\/p>\n \nManhattan Associates designs, builds, and delivers leading edge cloud solutions so that across the store, through your network, or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com<\/a>.<\/p>\n \nThis press release contains \u201cforward-looking statements\u201d relating to Manhattan Associates, Inc. Forward-looking statements in this press release include, without limitation, the information set forth under \u201c2025 Guidance\u201d and statements identified by words such as \u201cmay,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cseek,\u201d \u201cproject,\u201d \u201cestimate,\u201d and similar expressions. Prospective investors are cautioned that any of those forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by those forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by those forward-looking statements are: economic conditions, including disruption and transformation in the retail sector and our vertical markets; delays in product development; competitive and pricing pressures; software errors and information technology failures, disruption and security breaches; risks related to our products\u2019 technology and customer implementations; global instability, including the wars in Ukraine and the Middle East; and the other risk factors set forth in Item 1A of the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024, and in Item 1A of Part II in subsequent Quarterly Reports on Form 10-Q. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.<\/p>\n \nMANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES<\/p>\n \nCondensed Consolidated Statements of Income<\/p>\n \n(in thousands, except per share amounts)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \nNine Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \nRevenue:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCloud subscriptions<\/p>\n \n\u00a0<\/p>\n \n$104,852<\/p>\n \n\u00a0<\/p>\n \n$86,485<\/p>\n \n\u00a0<\/p>\n \n$299,580<\/p>\n \n\u00a0<\/p>\n \n$246,873<\/p>\n \nSoftware license<\/p>\n \n\u00a0<\/p>\n \n1,356<\/p>\n \n\u00a0<\/p>\n \n3,762<\/p>\n \n\u00a0<\/p>\n \n12,176<\/p>\n \n\u00a0<\/p>\n \n9,633<\/p>\n \nMaintenance<\/p>\n \n\u00a0<\/p>\n \n30,492<\/p>\n \n\u00a0<\/p>\n \n34,491<\/p>\n \n\u00a0<\/p>\n \n97,693<\/p>\n \n\u00a0<\/p>\n \n104,736<\/p>\n \nServices<\/p>\n \n\u00a0<\/p>\n \n133,007<\/p>\n \n\u00a0<\/p>\n \n137,009<\/p>\n \n\u00a0<\/p>\n \n383,033<\/p>\n \n\u00a0<\/p>\n \n406,035<\/p>\n \nHardware<\/p>\n \n\u00a0<\/p>\n \n6,088<\/p>\n \n\u00a0<\/p>\n \n4,934<\/p>\n \n\u00a0<\/p>\n \n18,521<\/p>\n \n\u00a0<\/p>\n \n19,274<\/p>\n \nTotal revenue<\/p>\n \n\u00a0<\/p>\n \n275,795<\/p>\n \n\u00a0<\/p>\n \n266,681<\/p>\n \n\u00a0<\/p>\n \n811,003<\/p>\n \n\u00a0<\/p>\n \n786,551<\/p>\n \nCosts and expenses:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCost of cloud subscriptions, maintenance and services<\/p>\n \n\u00a0<\/p>\n \n119,604<\/p>\n \n\u00a0<\/p>\n \n118,269<\/p>\n \n\u00a0<\/p>\n \n349,883<\/p>\n \n\u00a0<\/p>\n \n356,920<\/p>\n \nCost of software license<\/p>\n \n\u00a0<\/p>\n \n208<\/p>\n \n\u00a0<\/p>\n \n391<\/p>\n \n\u00a0<\/p>\n \n711<\/p>\n \n\u00a0<\/p>\n \n1,068<\/p>\n \nResearch and development<\/p>\n \n\u00a0<\/p>\n \n36,360<\/p>\n \n\u00a0<\/p>\n \n34,349<\/p>\n \n\u00a0<\/p>\n \n106,529<\/p>\n \n\u00a0<\/p>\n \n104,693<\/p>\n \nSales and marketing<\/p>\n \n\u00a0<\/p>\n \n18,057<\/p>\n \n\u00a0<\/p>\n \n16,586<\/p>\n \n\u00a0<\/p>\n \n59,097<\/p>\n \n\u00a0<\/p>\n \n55,669<\/p>\n \nGeneral and administrative<\/p>\n \n\u00a0<\/p>\n \n24,078<\/p>\n \n\u00a0<\/p>\n \n20,308<\/p>\n \n\u00a0<\/p>\n \n74,273<\/p>\n \n\u00a0<\/p>\n \n62,623<\/p>\n \nDepreciation and amortization<\/p>\n \n\u00a0<\/p>\n \n1,660<\/p>\n \n\u00a0<\/p>\n \n1,688<\/p>\n \n\u00a0<\/p>\n \n4,785<\/p>\n \n\u00a0<\/p>\n \n4,670<\/p>\n \nRestructuring expense<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n2,937<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nTotal costs and expenses<\/p>\n \n\u00a0<\/p>\n \n199,967<\/p>\n \n\u00a0<\/p>\n \n191,591<\/p>\n \n\u00a0<\/p>\n \n598,215<\/p>\n \n\u00a0<\/p>\n \n585,643<\/p>\n \nOperating income<\/p>\n \n\u00a0<\/p>\n \n75,828<\/p>\n \n\u00a0<\/p>\n \n75,090<\/p>\n \n\u00a0<\/p>\n \n212,788<\/p>\n \n\u00a0<\/p>\n \n200,908<\/p>\n \nOther income, net<\/p>\n \n\u00a0<\/p>\n \n2,604<\/p>\n \n\u00a0<\/p>\n \n1,312<\/p>\n \n\u00a0<\/p>\n \n4,656<\/p>\n \n\u00a0<\/p>\n \n3,222<\/p>\n \nIncome before income taxes<\/p>\n \n\u00a0<\/p>\n \n78,432<\/p>\n \n\u00a0<\/p>\n \n76,402<\/p>\n \n\u00a0<\/p>\n \n217,444<\/p>\n \n\u00a0<\/p>\n \n204,130<\/p>\n \nIncome tax provision<\/p>\n \n\u00a0<\/p>\n \n19,799<\/p>\n \n\u00a0<\/p>\n \n12,621<\/p>\n \n\u00a0<\/p>\n \n49,449<\/p>\n \n\u00a0<\/p>\n \n33,782<\/p>\n \nNet income<\/p>\n \n\u00a0<\/p>\n \n$58,633<\/p>\n \n\u00a0<\/p>\n \n$63,781<\/p>\n \n\u00a0<\/p>\n \n$167,995<\/p>\n \n\u00a0<\/p>\n \n$170,348<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nBasic earnings per share<\/p>\n \n\u00a0<\/p>\n \n$0.97<\/p>\n \n\u00a0<\/p>\n \n$1.04<\/p>\n \n\u00a0<\/p>\n \n$2.77<\/p>\n \n\u00a0<\/p>\n \n$2.77<\/p>\n \nDiluted earnings per share<\/p>\n \n\u00a0<\/p>\n \n$0.96<\/p>\n \n\u00a0<\/p>\n \n$1.03<\/p>\n \n\u00a0<\/p>\n \n$2.75<\/p>\n \n\u00a0<\/p>\n \n$2.74<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nWeighted average number of shares:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nBasic<\/p>\n \n\u00a0<\/p>\n \n60,381<\/p>\n \n\u00a0<\/p>\n \n61,169<\/p>\n \n\u00a0<\/p>\n \n60,620<\/p>\n \n\u00a0<\/p>\n \n61,404<\/p>\n \nDiluted<\/p>\n \n\u00a0<\/p>\n \n60,954<\/p>\n \n\u00a0<\/p>\n \n61,948<\/p>\n \n\u00a0<\/p>\n \n61,183<\/p>\n \n\u00a0<\/p>\n \n62,186<\/p>\n \nReconciliation of Selected GAAP to Non-GAAP Measures<\/p>\n \n(in thousands, except per share amounts)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \nNine Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nOperating income<\/p>\n \n\u00a0<\/p>\n \n$75,828<\/p>\n \n\u00a0<\/p>\n \n$75,090<\/p>\n \n\u00a0<\/p>\n \n$212,788<\/p>\n \n\u00a0<\/p>\n \n$200,908<\/p>\n \nEquity-based compensation (a)<\/p>\n \n\u00a0<\/p>\n \n27,577<\/p>\n \n\u00a0<\/p>\n \n23,853<\/p>\n \n\u00a0<\/p>\n \n80,678<\/p>\n \n\u00a0<\/p>\n \n70,614<\/p>\n \nUnusual health insurance claim (c)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(658)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nRestructuring expense (d)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n2,937<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nAdjusted operating income (Non-GAAP)<\/p>\n \n\u00a0<\/p>\n \n$103,405<\/p>\n \n\u00a0<\/p>\n \n$98,943<\/p>\n \n\u00a0<\/p>\n \n$295,745<\/p>\n \n\u00a0<\/p>\n \n$271,522<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nIncome tax provision<\/p>\n \n\u00a0<\/p>\n \n$19,799<\/p>\n \n\u00a0<\/p>\n \n$12,621<\/p>\n \n\u00a0<\/p>\n \n$49,449<\/p>\n \n\u00a0<\/p>\n \n$33,782<\/p>\n \nEquity-based compensation (a)<\/p>\n \n\u00a0<\/p>\n \n3,253<\/p>\n \n\u00a0<\/p>\n \n3,683<\/p>\n \n\u00a0<\/p>\n \n10,749<\/p>\n \n\u00a0<\/p>\n \n10,967<\/p>\n \nTax benefit of stock awards vested (b)<\/p>\n \n\u00a0<\/p>\n \n321<\/p>\n \n\u00a0<\/p>\n \n579<\/p>\n \n\u00a0<\/p>\n \n3,924<\/p>\n \n\u00a0<\/p>\n \n9,063<\/p>\n \nUnusual health insurance claim (c)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(159)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nRestructuring expense (d)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n708<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nAdjusted income tax provision (Non-GAAP)<\/p>\n \n\u00a0<\/p>\n \n$23,373<\/p>\n \n\u00a0<\/p>\n \n$16,883<\/p>\n \n\u00a0<\/p>\n \n$64,671<\/p>\n \n\u00a0<\/p>\n \n$53,812<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet income<\/p>\n \n\u00a0<\/p>\n \n$58,633<\/p>\n \n\u00a0<\/p>\n \n$63,781<\/p>\n \n\u00a0<\/p>\n \n$167,995<\/p>\n \n\u00a0<\/p>\n \n$170,348<\/p>\n \nEquity-based compensation (a)<\/p>\n \n\u00a0<\/p>\n \n24,324<\/p>\n \n\u00a0<\/p>\n \n20,170<\/p>\n \n\u00a0<\/p>\n \n69,929<\/p>\n \n\u00a0<\/p>\n \n59,647<\/p>\n \nTax benefit of stock awards vested (b)<\/p>\n \n\u00a0<\/p>\n \n(321)<\/p>\n \n\u00a0<\/p>\n \n(579)<\/p>\n \n\u00a0<\/p>\n \n(3,924)<\/p>\n \n\u00a0<\/p>\n \n(9,063)<\/p>\n \nUnusual health insurance claim (c)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(499)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nRestructuring expense (d)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n2,229<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nAdjusted net income (Non-GAAP)<\/p>\n \n\u00a0<\/p>\n \n$82,636<\/p>\n \n\u00a0<\/p>\n \n$83,372<\/p>\n \n\u00a0<\/p>\n \n$235,730<\/p>\n \n\u00a0<\/p>\n \n$220,932<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nDiluted EPS<\/p>\n \n\u00a0<\/p>\n \n$0.96<\/p>\n \n\u00a0<\/p>\n \n$1.03<\/p>\n \n\u00a0<\/p>\n \n$2.75<\/p>\n \n\u00a0<\/p>\n \n$2.74<\/p>\n \nEquity-based compensation (a)<\/p>\n \n\u00a0<\/p>\n \n0.40<\/p>\n \n\u00a0<\/p>\n \n0.33<\/p>\n \n\u00a0<\/p>\n \n1.14<\/p>\n \n\u00a0<\/p>\n \n0.96<\/p>\n \nTax benefit of stock awards vested (b)<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n(0.06)<\/p>\n \n\u00a0<\/p>\n \n(0.15)<\/p>\n \nUnusual health insurance claim (c)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nRestructuring expense (d)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nAdjusted diluted EPS (Non-GAAP)<\/p>\n \n\u00a0<\/p>\n \n$1.36<\/p>\n \n\u00a0<\/p>\n \n$1.35<\/p>\n \n\u00a0<\/p>\n \n$3.85<\/p>\n \n\u00a0<\/p>\n \n$3.55<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nFully diluted shares<\/p>\n \n\u00a0<\/p>\n \n60,954<\/p>\n \n\u00a0<\/p>\n \n61,948<\/p>\n \n\u00a0<\/p>\n \n61,183<\/p>\n \n\u00a0<\/p>\n \n62,186<\/p>\n a)<\/p>\n \nAdjusted results exclude all equity-based compensation, as detailed below, to facilitate comparison with our peers and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. We do not receive a GAAP tax benefit for a portion of our equity-based compensation, mainly because of Section 162(m) of the Internal Revenue Code, which limits tax deductions for compensation granted to certain executives.<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nThree Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \nNine Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCost of services<\/p>\n \n\u00a0<\/p>\n \n$11,417<\/p>\n \n\u00a0<\/p>\n \n$10,835<\/p>\n \n\u00a0<\/p>\n \n$33,355<\/p>\n \n\u00a0<\/p>\n \n$31,482<\/p>\n \nResearch and development<\/p>\n \n\u00a0<\/p>\n \n6,216<\/p>\n \n\u00a0<\/p>\n \n5,117<\/p>\n \n\u00a0<\/p>\n \n17,848<\/p>\n \n\u00a0<\/p>\n \n15,812<\/p>\n \nSales and marketing<\/p>\n \n\u00a0<\/p>\n \n2,267<\/p>\n \n\u00a0<\/p>\n \n2,189<\/p>\n \n\u00a0<\/p>\n \n5,694<\/p>\n \n\u00a0<\/p>\n \n6,295<\/p>\n \nGeneral and administrative<\/p>\n \n\u00a0<\/p>\n \n7,677<\/p>\n \n\u00a0<\/p>\n \n5,712<\/p>\n \n\u00a0<\/p>\n \n23,781<\/p>\n \n\u00a0<\/p>\n \n17,025<\/p>\n \nTotal equity-based compensation<\/p>\n \n\u00a0<\/p>\n \n$27,577<\/p>\n \n\u00a0<\/p>\n \n$23,853<\/p>\n \n\u00a0<\/p>\n \n$80,678<\/p>\n \n\u00a0<\/p>\n \n$70,614<\/p>\n (b)<\/p>\n \nAdjustments represent the excess tax benefits and tax deficiencies of the equity awards vested during the period. Excess tax benefits (deficiencies) occur when the amount deductible on our tax return for an equity award is more (less) than the cumulative compensation cost recognized for financial reporting purposes. As discussed above, we exclude equity-based compensation from adjusted non-GAAP results to be consistent with other companies in the software industry and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. Therefore, we also exclude the related tax benefit (expense) generated upon their vesting.<\/p>\n (c)<\/p>\n In the fourth quarter of 2024, we recorded $7.0 million of expense for an unusual health insurance claim. During the first quarter of 2025, we received an insurance recovery of $4.7 million for this claim, partially offset by $1.0 million of ongoing expense for the claim. During the second quarter of 2025, we recorded an additional $3.0 million of expense for this unusual health insurance claim. Based on the uncommonly large magnitude and nature of the claim, we do not believe that this expense reflects our normal operating activities, and we have excluded the amount from adjusted non-GAAP results.<\/p>\n (d)<\/p>\n In January 2025, the Company eliminated about 100 positions to align our services capacity with customer demand, which has been impacted by macro-economic uncertainty. We recorded pre-tax restructuring expense in the first quarter of 2025 of approximately $2.9 million. The expense primarily consists of employee severance and outplacement services. We do not believe that the expense is a common cost that resulted from normal operating activities, and thus we have excluded the amount from adjusted non-GAAP results.<\/p>\n \nMANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES<\/p>\n \nCondensed Consolidated Balance Sheets<\/p>\n \n(in thousands, except share and per share data)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nSeptember 30, 2025<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nDecember 31, 2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nASSETS<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCurrent assets:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCash and cash equivalents<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n263,555<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n266,230<\/p>\n \n\u00a0<\/p>\n \nAccounts receivable, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n219,556<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n205,475<\/p>\n \n\u00a0<\/p>\n \nPrepaid expenses and other current assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n42,659<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n31,559<\/p>\n \n\u00a0<\/p>\n \nTotal current assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n525,770<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n503,264<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nProperty and equipment, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n20,050<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n13,971<\/p>\n \n\u00a0<\/p>\n \nOperating lease right-of-use assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n45,734<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n47,923<\/p>\n \n\u00a0<\/p>\n \nGoodwill, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n62,244<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n62,226<\/p>\n \n\u00a0<\/p>\n \nDeferred income taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n76,374<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n94,505<\/p>\n \n\u00a0<\/p>\n \nOther assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n38,651<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n35,662<\/p>\n \n\u00a0<\/p>\n \nTotal assets<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n768,823<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n757,551<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nLIABILITIES AND SHAREHOLDERS’ EQUITY<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nCurrent liabilities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAccounts payable<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n21,355<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n26,615<\/p>\n \n\u00a0<\/p>\n \nAccrued compensation and benefits<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n59,475<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n72,180<\/p>\n \n\u00a0<\/p>\n \nAccrued and other liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n23,589<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n22,275<\/p>\n \n\u00a0<\/p>\n \nDeferred revenue<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n295,903<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n277,970<\/p>\n \n\u00a0<\/p>\n \nIncome taxes payable<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n86<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n1,264<\/p>\n \n\u00a0<\/p>\n \nTotal current liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n400,408<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n400,304<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nOperating lease liabilities, long-term<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n47,713<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n47,794<\/p>\n \n\u00a0<\/p>\n \nOther non-current liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n11,486<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n10,327<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nShareholders’ equity:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nPreferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding in 2025 and 2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \nCommon stock, $0.01 par value; 200,000,000 shares authorized; 60,256,442 and 60,921,191 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n602<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n609<\/p>\n \n\u00a0<\/p>\n \nRetained earnings<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n338,690<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n329,439<\/p>\n \n\u00a0<\/p>\n \nAccumulated other comprehensive loss<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(30,076<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(30,922<\/p>\n \n)<\/p>\n \nTotal shareholders’ equity<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n309,216<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n299,126<\/p>\n \n\u00a0<\/p>\n \nTotal liabilities and shareholders’ equity<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n768,823<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n757,551<\/p>\n \n\u00a0<\/p>\n \nMANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES<\/p>\n \nCondensed Consolidated Statements of Cash Flows<\/p>\n \n(in thousands)<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNine Months Ended September 30,<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(unaudited)<\/p>\n \n\u00a0<\/p>\n \nOperating activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet income<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n167,995<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n170,348<\/p>\n \n\u00a0<\/p>\n \nAdjustments to reconcile net income to net cash provided by operating activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nDepreciation and amortization<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n4,785<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n4,670<\/p>\n \n\u00a0<\/p>\n \nEquity-based compensation<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n80,678<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n70,614<\/p>\n \n\u00a0<\/p>\n \nGain on disposal of equipment<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(22<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(131<\/p>\n \n)<\/p>\n \nDeferred income taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n17,946<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(20,544<\/p>\n \n)<\/p>\n \nUnrealized foreign currency loss<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n246<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n906<\/p>\n \n\u00a0<\/p>\n \nChanges in operating assets and liabilities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAccounts receivable, net<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(8,865<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(17,515<\/p>\n \n)<\/p>\n \nOther assets<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(4,311<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(9,688<\/p>\n \n)<\/p>\n \nAccounts payable, accrued and other liabilities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(18,463<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(13,367<\/p>\n \n)<\/p>\n \nIncome taxes<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(9,840<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(7,956<\/p>\n \n)<\/p>\n \nDeferred revenue<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n12,271<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n12,962<\/p>\n \n\u00a0<\/p>\n \nNet cash provided by operating activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n242,420<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n190,299<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nInvesting activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nPurchase of property and equipment<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(10,799<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(5,547<\/p>\n \n)<\/p>\n \nNet cash used in investing activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(10,799<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(5,547<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nFinancing activities:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nRepurchase of common stock<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(238,187<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(241,150<\/p>\n \n)<\/p>\n \nNet cash used in financing activities<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(238,187<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(241,150<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nForeign currency impact on cash<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n3,891<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n609<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nNet change in cash and cash equivalents<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(2,675<\/p>\n \n)<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n(55,789<\/p>\n \n)<\/p>\n \nCash and cash equivalents at beginning of period<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n266,230<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n270,741<\/p>\n \n\u00a0<\/p>\n \nCash and cash equivalents at end of period<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n263,555<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n$<\/p>\n \n214,952<\/p>\n \n\u00a0<\/p>\n \nMANHATTAN ASSOCIATES, INC.<\/p>\n \nSUPPLEMENTAL INFORMATION<\/p>\n \u00a0<\/p>\n \n1. GAAP and adjusted earnings per share by quarter are as follows:<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nGAAP Diluted EPS<\/p>\n \n$0.86<\/p>\n \n\u00a0<\/p>\n \n$0.85<\/p>\n \n\u00a0<\/p>\n \n$1.03<\/p>\n \n\u00a0<\/p>\n \n$0.77<\/p>\n \n\u00a0<\/p>\n \n$3.51<\/p>\n \n\u00a0<\/p>\n \n$0.85<\/p>\n \n\u00a0<\/p>\n \n$0.93<\/p>\n \n\u00a0<\/p>\n \n$0.96<\/p>\n \n\u00a0<\/p>\n \n$2.75<\/p>\n \nAdjustments to GAAP:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nEquity-based compensation<\/p>\n \n0.30<\/p>\n \n\u00a0<\/p>\n \n0.34<\/p>\n \n\u00a0<\/p>\n \n0.33<\/p>\n \n\u00a0<\/p>\n \n0.31<\/p>\n \n\u00a0<\/p>\n \n1.27<\/p>\n \n\u00a0<\/p>\n \n0.40<\/p>\n \n\u00a0<\/p>\n \n0.35<\/p>\n \n\u00a0<\/p>\n \n0.40<\/p>\n \n\u00a0<\/p>\n \n1.14<\/p>\n \nTax benefit of stock awards vested<\/p>\n \n(0.13)<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(0.15)<\/p>\n \n\u00a0<\/p>\n \n(0.06)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \n\u00a0<\/p>\n \n(0.06)<\/p>\n \nRestructuring expense<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n0.04<\/p>\n \nUnusual health insurance claim<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n0.09<\/p>\n \n\u00a0<\/p>\n \n0.09<\/p>\n \n\u00a0<\/p>\n \n(0.05)<\/p>\n \n\u00a0<\/p>\n \n0.04<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(0.01)<\/p>\n \nAdjusted Diluted EPS<\/p>\n \n$1.03<\/p>\n \n\u00a0<\/p>\n \n$1.18<\/p>\n \n\u00a0<\/p>\n \n$1.35<\/p>\n \n\u00a0<\/p>\n \n$1.17<\/p>\n \n\u00a0<\/p>\n \n$4.72<\/p>\n \n\u00a0<\/p>\n \n$1.19<\/p>\n \n\u00a0<\/p>\n \n$1.31<\/p>\n \n\u00a0<\/p>\n \n$1.36<\/p>\n \n\u00a0<\/p>\n \n$3.85<\/p>\n \nFully Diluted Shares<\/p>\n \n62,493<\/p>\n \n\u00a0<\/p>\n \n62,118<\/p>\n \n\u00a0<\/p>\n \n61,948<\/p>\n \n\u00a0<\/p>\n \n62,009<\/p>\n \n\u00a0<\/p>\n \n62,183<\/p>\n \n\u00a0<\/p>\n \n61,527<\/p>\n \n\u00a0<\/p>\n \n61,074<\/p>\n \n\u00a0<\/p>\n \n60,954<\/p>\n \n\u00a0<\/p>\n \n61,183<\/p>\n 2. Revenues and operating income by reportable segment are as follows (in thousands):<\/p>\n \u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nRevenue:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAmericas<\/p>\n \n$196,312<\/p>\n \n\u00a0<\/p>\n \n$205,955<\/p>\n \n\u00a0<\/p>\n \n$205,852<\/p>\n \n\u00a0<\/p>\n \n$194,367<\/p>\n \n\u00a0<\/p>\n \n$802,486<\/p>\n \n\u00a0<\/p>\n \n$194,615<\/p>\n \n\u00a0<\/p>\n \n$206,606<\/p>\n \n\u00a0<\/p>\n \n$206,659<\/p>\n \n\u00a0<\/p>\n \n$607,880<\/p>\n \nEMEA<\/p>\n \n46,620<\/p>\n \n\u00a0<\/p>\n \n46,918<\/p>\n \n\u00a0<\/p>\n \n48,082<\/p>\n \n\u00a0<\/p>\n \n48,903<\/p>\n \n\u00a0<\/p>\n \n190,523<\/p>\n \n\u00a0<\/p>\n \n55,542<\/p>\n \n\u00a0<\/p>\n \n52,301<\/p>\n \n\u00a0<\/p>\n \n53,975<\/p>\n \n\u00a0<\/p>\n \n161,818<\/p>\n \nAPAC<\/p>\n \n11,620<\/p>\n \n\u00a0<\/p>\n \n12,445<\/p>\n \n\u00a0<\/p>\n \n12,747<\/p>\n \n\u00a0<\/p>\n \n12,531<\/p>\n \n\u00a0<\/p>\n \n49,343<\/p>\n \n\u00a0<\/p>\n \n12,630<\/p>\n \n\u00a0<\/p>\n \n13,514<\/p>\n \n\u00a0<\/p>\n \n15,161<\/p>\n \n\u00a0<\/p>\n \n41,305<\/p>\n \n$254,552<\/p>\n \n\u00a0<\/p>\n \n$265,318<\/p>\n \n\u00a0<\/p>\n \n$266,681<\/p>\n \n\u00a0<\/p>\n \n$255,801<\/p>\n \n\u00a0<\/p>\n \n$1,042,352<\/p>\n \n\u00a0<\/p>\n \n$262,787<\/p>\n \n\u00a0<\/p>\n \n$272,421<\/p>\n \n\u00a0<\/p>\n \n$275,795<\/p>\n \n\u00a0<\/p>\n \n$811,003<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nGAAP Operating Income:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAmericas<\/p>\n \n$36,687<\/p>\n \n\u00a0<\/p>\n \n$45,300<\/p>\n \n\u00a0<\/p>\n \n$49,033<\/p>\n \n\u00a0<\/p>\n \n$36,323<\/p>\n \n\u00a0<\/p>\n \n$167,343<\/p>\n \n\u00a0<\/p>\n \n$33,862<\/p>\n \n\u00a0<\/p>\n \n$48,051<\/p>\n \n\u00a0<\/p>\n \n$45,783<\/p>\n \n\u00a0<\/p>\n \n$127,696<\/p>\n \nEMEA<\/p>\n \n15,884<\/p>\n \n\u00a0<\/p>\n \n17,195<\/p>\n \n\u00a0<\/p>\n \n20,521<\/p>\n \n\u00a0<\/p>\n \n18,896<\/p>\n \n\u00a0<\/p>\n \n72,496<\/p>\n \n\u00a0<\/p>\n \n23,703<\/p>\n \n\u00a0<\/p>\n \n19,807<\/p>\n \n\u00a0<\/p>\n \n22,877<\/p>\n \n\u00a0<\/p>\n \n66,387<\/p>\n \nAPAC<\/p>\n \n5,059<\/p>\n \n\u00a0<\/p>\n \n5,693<\/p>\n \n\u00a0<\/p>\n \n5,536<\/p>\n \n\u00a0<\/p>\n \n5,469<\/p>\n \n\u00a0<\/p>\n \n21,757<\/p>\n \n\u00a0<\/p>\n \n5,607<\/p>\n \n\u00a0<\/p>\n \n5,930<\/p>\n \n\u00a0<\/p>\n \n7,168<\/p>\n \n\u00a0<\/p>\n \n18,705<\/p>\n \n\u00a0<\/p>\n \n$57,630<\/p>\n \n\u00a0<\/p>\n \n$68,188<\/p>\n \n\u00a0<\/p>\n \n$75,090<\/p>\n \n\u00a0<\/p>\n \n$60,688<\/p>\n \n\u00a0<\/p>\n \n$261,596<\/p>\n \n\u00a0<\/p>\n \n$63,172<\/p>\n \n\u00a0<\/p>\n \n$73,788<\/p>\n \n\u00a0<\/p>\n \n$75,828<\/p>\n \n\u00a0<\/p>\n \n$212,788<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAdjustments (pre-tax):<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAmericas:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nEquity-based compensation<\/p>\n \n$22,095<\/p>\n \n\u00a0<\/p>\n \n$24,666<\/p>\n \n\u00a0<\/p>\n \n$23,853<\/p>\n \n\u00a0<\/p>\n \n$22,592<\/p>\n \n\u00a0<\/p>\n \n$93,206<\/p>\n \n\u00a0<\/p>\n \n$28,826<\/p>\n \n\u00a0<\/p>\n \n$24,275<\/p>\n \n\u00a0<\/p>\n \n$27,577<\/p>\n \n\u00a0<\/p>\n \n$80,678<\/p>\n \nUnusual health insurance claim<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n7,002<\/p>\n \n\u00a0<\/p>\n \n7,002<\/p>\n \n\u00a0<\/p>\n \n(3,658)<\/p>\n \n\u00a0<\/p>\n \n3,000<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n(658)<\/p>\n \nRestructuring expense<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n2,929<\/p>\n \n\u00a0<\/p>\n \n8<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n2,937<\/p>\n \n\u00a0<\/p>\n \n$22,095<\/p>\n \n\u00a0<\/p>\n \n$24,666<\/p>\n \n\u00a0<\/p>\n \n$23,853<\/p>\n \n\u00a0<\/p>\n \n$29,594<\/p>\n \n\u00a0<\/p>\n \n$100,208<\/p>\n \n\u00a0<\/p>\n \n$28,097<\/p>\n \n\u00a0<\/p>\n \n$27,283<\/p>\n \n\u00a0<\/p>\n \n$27,577<\/p>\n \n\u00a0<\/p>\n \n$82,957<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAdjusted non-GAAP Operating Income:<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nAmericas<\/p>\n \n$58,782<\/p>\n \n\u00a0<\/p>\n \n$69,966<\/p>\n \n\u00a0<\/p>\n \n$72,886<\/p>\n \n\u00a0<\/p>\n \n$65,917<\/p>\n \n\u00a0<\/p>\n \n$267,551<\/p>\n \n\u00a0<\/p>\n \n$61,959<\/p>\n \n\u00a0<\/p>\n \n$75,334<\/p>\n \n\u00a0<\/p>\n \n$73,360<\/p>\n \n\u00a0<\/p>\n \n$210,653<\/p>\n \nEMEA<\/p>\n \n15,884<\/p>\n \n\u00a0<\/p>\n \n17,195<\/p>\n \n\u00a0<\/p>\n \n20,521<\/p>\n \n\u00a0<\/p>\n \n18,896<\/p>\n \n\u00a0<\/p>\n \n72,496<\/p>\n \n\u00a0<\/p>\n \n23,703<\/p>\n \n\u00a0<\/p>\n \n19,807<\/p>\n \n\u00a0<\/p>\n \n22,877<\/p>\n \n\u00a0<\/p>\n \n66,387<\/p>\n \nAPAC<\/p>\n \n5,059<\/p>\n \n\u00a0<\/p>\n \n5,693<\/p>\n \n\u00a0<\/p>\n \n5,536<\/p>\n \n\u00a0<\/p>\n \n5,469<\/p>\n \n\u00a0<\/p>\n \n21,757<\/p>\n \n\u00a0<\/p>\n \n5,607<\/p>\n \n\u00a0<\/p>\n \n5,930<\/p>\n \n\u00a0<\/p>\n \n7,168<\/p>\n \n\u00a0<\/p>\n \n18,705<\/p>\n \n$79,725<\/p>\n \n\u00a0<\/p>\n \n$92,854<\/p>\n \n\u00a0<\/p>\n \n$98,943<\/p>\n \n\u00a0<\/p>\n \n$90,282<\/p>\n \n\u00a0<\/p>\n \n$361,804<\/p>\n \n\u00a0<\/p>\n \n$91,269<\/p>\n \n\u00a0<\/p>\n \n$101,071<\/p>\n \n\u00a0<\/p>\n \n$103,405<\/p>\n \n\u00a0<\/p>\n \n$295,745<\/p>\n 3. Impact of Currency Fluctuation<\/p>\n \u00a0<\/p>\n \nThe following table reflects the increases (decreases) in the results of operations for each period attributable to the change in foreign currency exchange rates from the prior period as well as foreign currency gains (losses) included in other income, net for each period (in thousands):<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nRevenue<\/p>\n \n$648<\/p>\n \n\u00a0<\/p>\n \n$(531)<\/p>\n \n\u00a0<\/p>\n \n$936<\/p>\n \n\u00a0<\/p>\n \n$316<\/p>\n \n\u00a0<\/p>\n \n$1,369<\/p>\n \n\u00a0<\/p>\n \n$(1,591)<\/p>\n \n\u00a0<\/p>\n \n$2,724<\/p>\n \n\u00a0<\/p>\n \n$2,652<\/p>\n \n\u00a0<\/p>\n \n$3,785<\/p>\n \nCosts and expenses<\/p>\n \n176<\/p>\n \n\u00a0<\/p>\n \n(673)<\/p>\n \n\u00a0<\/p>\n \n211<\/p>\n \n\u00a0<\/p>\n \n(227)<\/p>\n \n\u00a0<\/p>\n \n(513)<\/p>\n \n\u00a0<\/p>\n \n(1,966)<\/p>\n \n\u00a0<\/p>\n \n1,180<\/p>\n \n\u00a0<\/p>\n \n738<\/p>\n \n\u00a0<\/p>\n \n(48)<\/p>\n \nOperating income<\/p>\n \n472<\/p>\n \n\u00a0<\/p>\n \n142<\/p>\n \n\u00a0<\/p>\n \n725<\/p>\n \n\u00a0<\/p>\n \n543<\/p>\n \n\u00a0<\/p>\n \n1,882<\/p>\n \n\u00a0<\/p>\n \n375<\/p>\n \n\u00a0<\/p>\n \n1,544<\/p>\n \n\u00a0<\/p>\n \n1,914<\/p>\n \n\u00a0<\/p>\n \n3,833<\/p>\n \nForeign currency gains (losses) in other income<\/p>\n \n(564)<\/p>\n \n\u00a0<\/p>\n \n(577)<\/p>\n \n\u00a0<\/p>\n \n(331)<\/p>\n \n\u00a0<\/p>\n \n519<\/p>\n \n\u00a0<\/p>\n \n(953)<\/p>\n \n\u00a0<\/p>\n \n131<\/p>\n \n\u00a0<\/p>\n \n(65)<\/p>\n \n\u00a0<\/p>\n \n1,596<\/p>\n \n\u00a0<\/p>\n \n$1,662<\/p>\n \n$(92)<\/p>\n \n\u00a0<\/p>\n \n$(435)<\/p>\n \n\u00a0<\/p>\n \n$394<\/p>\n \n\u00a0<\/p>\n \n$1,062<\/p>\n \n\u00a0<\/p>\n \n$929<\/p>\n \n\u00a0<\/p>\n \n$506<\/p>\n \n\u00a0<\/p>\n \n$1,479<\/p>\n \n\u00a0<\/p>\n \n$3,510<\/p>\n \n\u00a0<\/p>\n \n$5,495<\/p>\n Manhattan Associates has a large research and development center in Bangalore, India. The following table reflects the increases (decreases) in the financial results for each period attributable to changes in the Indian Rupee exchange rate (in thousands):<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nOperating income<\/p>\n \n$185<\/p>\n \n\u00a0<\/p>\n \n$307<\/p>\n \n\u00a0<\/p>\n \n$261<\/p>\n \n\u00a0<\/p>\n \n$302<\/p>\n \n\u00a0<\/p>\n \n$1,055<\/p>\n \n\u00a0<\/p>\n \n$785<\/p>\n \n\u00a0<\/p>\n \n$514<\/p>\n \n\u00a0<\/p>\n \n$832<\/p>\n \n\u00a0<\/p>\n \n$2,131<\/p>\n \nForeign currency gains (losses) in other income<\/p>\n \n164<\/p>\n \n\u00a0<\/p>\n \n41<\/p>\n \n\u00a0<\/p>\n \n284<\/p>\n \n\u00a0<\/p>\n \n1,283<\/p>\n \n\u00a0<\/p>\n \n1,772<\/p>\n \n\u00a0<\/p>\n \n15<\/p>\n \n\u00a0<\/p>\n \n140<\/p>\n \n\u00a0<\/p>\n \n1,978<\/p>\n \n\u00a0<\/p>\n \n2,133<\/p>\n \nTotal impact of changes in the Indian Rupee<\/p>\n \n$349<\/p>\n \n\u00a0<\/p>\n \n$348<\/p>\n \n\u00a0<\/p>\n \n$545<\/p>\n \n\u00a0<\/p>\n \n$1,585<\/p>\n \n\u00a0<\/p>\n \n$2,827<\/p>\n \n\u00a0<\/p>\n \n$800<\/p>\n \n\u00a0<\/p>\n \n$654<\/p>\n \n\u00a0<\/p>\n \n$2,810<\/p>\n \n\u00a0<\/p>\n \n$4,264<\/p>\n \n4. Other income includes the following components (in thousands):<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nInterest income<\/p>\n \n$1,414<\/p>\n \n\u00a0<\/p>\n \n$1,503<\/p>\n \n\u00a0<\/p>\n \n$1,636<\/p>\n \n\u00a0<\/p>\n \n$1,476<\/p>\n \n\u00a0<\/p>\n \n$6,029<\/p>\n \n\u00a0<\/p>\n \n$1,101<\/p>\n \n\u00a0<\/p>\n \n$852<\/p>\n \n\u00a0<\/p>\n \n$1,007<\/p>\n \n\u00a0<\/p>\n \n$2,960<\/p>\n \nForeign currency gains (losses)<\/p>\n \n(564)<\/p>\n \n\u00a0<\/p>\n \n(577)<\/p>\n \n\u00a0<\/p>\n \n(331)<\/p>\n \n\u00a0<\/p>\n \n519<\/p>\n \n\u00a0<\/p>\n \n(953)<\/p>\n \n\u00a0<\/p>\n \n130<\/p>\n \n\u00a0<\/p>\n \n(65)<\/p>\n \n\u00a0<\/p>\n \n1,597<\/p>\n \n\u00a0<\/p>\n \n1,662<\/p>\n \nOther non-operating income (expense)<\/p>\n \n146<\/p>\n \n\u00a0<\/p>\n \n(12)<\/p>\n \n\u00a0<\/p>\n \n7<\/p>\n \n\u00a0<\/p>\n \n1<\/p>\n \n\u00a0<\/p>\n \n142<\/p>\n \n\u00a0<\/p>\n \n106<\/p>\n \n\u00a0<\/p>\n \n(72)<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n34<\/p>\n \nTotal other income (loss)<\/p>\n \n$996<\/p>\n \n\u00a0<\/p>\n \n$914<\/p>\n \n\u00a0<\/p>\n \n$1,312<\/p>\n \n\u00a0<\/p>\n \n$1,996<\/p>\n \n\u00a0<\/p>\n \n$5,218<\/p>\n \n\u00a0<\/p>\n \n$1,337<\/p>\n \n\u00a0<\/p>\n \n$715<\/p>\n \n\u00a0<\/p>\n \n$2,604<\/p>\n \n\u00a0<\/p>\n \n$4,656<\/p>\n \n5. Capital expenditures are as follows (in thousands):<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nCapital expenditures<\/p>\n \n$2,321<\/p>\n \n\u00a0<\/p>\n \n$2,217<\/p>\n \n\u00a0<\/p>\n \n$1,009<\/p>\n \n\u00a0<\/p>\n \n$3,128<\/p>\n \n\u00a0<\/p>\n \n$8,675<\/p>\n \n\u00a0<\/p>\n \n$891<\/p>\n \n\u00a0<\/p>\n \n$3,980<\/p>\n \n\u00a0<\/p>\n \n$5,928<\/p>\n \n\u00a0<\/p>\n \n$10,799<\/p>\n \n6. Stock Repurchase Activity (in thousands):<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \n2024<\/p>\n \n\u00a0<\/p>\n \n2025<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \n4th Qtr<\/p>\n \n\u00a0<\/p>\n \nFull Year<\/p>\n \n\u00a0<\/p>\n \n1st Qtr<\/p>\n \n\u00a0<\/p>\n \n2nd Qtr<\/p>\n \n\u00a0<\/p>\n \n3rd Qtr<\/p>\n \n\u00a0<\/p>\n \nYTD<\/p>\n \nShares purchased under publicly-announced buy-back program<\/p>\n \n294<\/p>\n \n\u00a0<\/p>\n \n343<\/p>\n \n\u00a0<\/p>\n \n194<\/p>\n \n\u00a0<\/p>\n \n156<\/p>\n \n\u00a0<\/p>\n \n987<\/p>\n \n\u00a0<\/p>\n \n539<\/p>\n \n\u00a0<\/p>\n \n263<\/p>\n \n\u00a0<\/p>\n \n233<\/p>\n \n\u00a0<\/p>\n \n1,035<\/p>\n \nShares withheld for taxes due upon vesting of restricted stock<\/p>\n \n165<\/p>\n \n\u00a0<\/p>\n \n3<\/p>\n \n\u00a0<\/p>\n \n8<\/p>\n \n\u00a0<\/p>\n \n2<\/p>\n \n\u00a0<\/p>\n \n178<\/p>\n \n\u00a0<\/p>\n \n179<\/p>\n \n\u00a0<\/p>\n \n3<\/p>\n \n\u00a0<\/p>\n \n8<\/p>\n \n\u00a0<\/p>\n \n190<\/p>\n \nTotal shares purchased<\/p>\n \n459<\/p>\n \n\u00a0<\/p>\n \n346<\/p>\n \n\u00a0<\/p>\n \n202<\/p>\n \n\u00a0<\/p>\n \n158<\/p>\n \n\u00a0<\/p>\n \n1,165<\/p>\n \n\u00a0<\/p>\n \n718<\/p>\n \n\u00a0<\/p>\n \n266<\/p>\n \n\u00a0<\/p>\n \n241<\/p>\n \n\u00a0<\/p>\n \n1,225<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n \nTotal cash paid for shares purchased under publicly-announced buy-back program<\/p>\n \n$73,411<\/p>\n \n\u00a0<\/p>\n \n$74,999<\/p>\n \n\u00a0<\/p>\n \n$49,687<\/p>\n \n\u00a0<\/p>\n \n$43,539<\/p>\n \n\u00a0<\/p>\n \n$241,636<\/p>\n \n\u00a0<\/p>\n \n$100,000<\/p>\n \n\u00a0<\/p>\n \n$49,596<\/p>\n \n\u00a0<\/p>\n \n$49,947<\/p>\n \n\u00a0<\/p>\n \n$199,543<\/p>\n \nTotal cash paid for shares withheld for taxes due upon vesting of restricted stock<\/p>\n \n40,423<\/p>\n \n\u00a0<\/p>\n \n713<\/p>\n \n\u00a0<\/p>\n \n1,917<\/p>\n \n\u00a0<\/p>\n \n569<\/p>\n \n\u00a0<\/p>\n \n43,622<\/p>\n \n\u00a0<\/p>\n \n36,447<\/p>\n \n\u00a0<\/p>\n \n595<\/p>\n \n\u00a0<\/p>\n \n1,602<\/p>\n \n\u00a0<\/p>\n \n38,644<\/p>\n \nTotal cash paid for excise tax<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n1,108<\/p>\n \n\u00a0<\/p>\n \n1,108<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \n\u00a0<\/p>\n \n–<\/p>\n \nTotal cash paid for shares repurchased<\/p>\n \n$113,834<\/p>\n \n\u00a0<\/p>\n \n$75,712<\/p>\n \n\u00a0<\/p>\n \n$51,604<\/p>\n \n\u00a0<\/p>\n \n$45,216<\/p>\n \n\u00a0<\/p>\n \n$286,366<\/p>\n \n\u00a0<\/p>\n \n$136,447<\/p>\n \n\u00a0<\/p>\n \n$50,191<\/p>\n \n\u00a0<\/p>\n \n$51,549<\/p>\n \n\u00a0<\/p>\n \n$238,187<\/p>\n \n7. Remaining Performance Obligations<\/p>\n \u00a0<\/p>\n \nWe disclose revenue that we expect to recognize from our remaining performance obligations (“RPO”). Over 98% of our RPO represents cloud native subscriptions with non-cancelable terms greater than one year (including cloud-deferred revenue as well as amounts we will invoice and recognize as revenue from our performance of cloud services in future periods). Maintenance contracts are typically one year and not included in the RPO. Our RPO as of the end of each period appears below (in thousands):<\/p>\n \u00a0<\/p>\n \n\u00a0<\/p>\n \nMarch 31, 2024<\/p>\n \n\u00a0<\/p>\n \nJune 30, 2024<\/p>\n \n\u00a0<\/p>\n \nSeptember 30, 2024<\/p>\n \n\u00a0<\/p>\n \nDecember 31, 2024<\/p>\n \n\u00a0<\/p>\n \nMarch 31, 2025<\/p>\n \n\u00a0<\/p>\n \nJune 30, 2025<\/p>\n \n\u00a0<\/p>\n \nSeptember 30, 2025<\/p>\n \nRemaining Performance Obligations<\/p>\n \n$1,516,430<\/p>\n \n\u00a0<\/p>\n \n$1,601,531<\/p>\n \n\u00a0<\/p>\n \n$1,686,421<\/p>\n \n\u00a0<\/p>\n \n$1,780,400<\/p>\n \n\u00a0<\/p>\n \n$1,891,384<\/p>\n \n\u00a0<\/p>\n \n$2,013,495<\/p>\n \n\u00a0<\/p>\n \n$2,076,628<\/p>\n \n\u00a0<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20251021098763\/en\/<\/a><\/p>\n \nMichael Bauer<\/p>\n
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Senior Director, Investor Relations
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Manhattan Associates, Inc.
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678-597-7538
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mbauer@manh.com<\/a><\/p>\n