Manhattan Associates (MANH) Q3 2026 Earnings Call: Cloud Growth and Higher Guidance
Source Tradingkey
Key Takeaways
- Manhattan Associates (NASDAQ: MANH) reported Q3 2026 revenue of $306 million, up 11% year over year, as quarterly revenue exceeded $300 million for the first time.
- Cloud revenue rose 28% to $134 million. Management said strong execution, subscription upsells and Active AI contributed to the increase.
- Remaining performance obligations, or RPO, reached $2.59 billion, increasing 25% year over year and 5% sequentially. The company recorded its fourth consecutive quarter of record bookings.
- Adjusted operating profit was $115 million, with a 37.6% adjusted operating margin. Adjusted EPS increased 14% to $1.55, while GAAP EPS rose 8% to $1.04.
- Management raised its full-year 2026 outlook for revenue, adjusted operating margin and EPS. The year-end RPO growth target increased to 21% from the previous range of 18% to 20%.
- New customers represented about 35% of new cloud bookings, while the company’s win rate remained above 70%. Partner-sourced deals increased more than fourfold year to date.
Key Financial Data
| Metric | Q3 2026 result | Change or context |
|---|---|---|
| Total revenue | $306 million | Up 11% year over year |
| Cloud revenue | $134 million | Up 28% |
| Services revenue | $134 million | Up 1% |
| RPO | $2.59 billion | Up 25% year over year and 5% sequentially |
| RPO expected within 24 months | 40% of total RPO | Up from 39% in Q2 and 38% in Q1 |
| Adjusted operating profit | $115 million | 37.6% adjusted operating margin |
| Adjusted EPS | $1.55 | Up 14% |
| GAAP EPS | $1.04 | Up 8% |
| Operating cash flow | $69 million | Collection timing affected the year-over-year comparison |
| Free cash flow margin | 22.1% | Q3 2026 |
| Adjusted EBITDA margin | 38.2% | Q3 2026 |
| Short-term deferred revenue | $348 million | Up 18% |
| Cash | $199 million | No debt at quarter-end |
| Share repurchases | $50 million | Record $325 million year to date; $175 million authorization remaining |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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