Manhattan Associates (MANH) investor relations material

Executive summary

• Achieved record Q2 and first half results, with 26% cloud revenue growth and three consecutive quarters of record bookings.

• Strategic investments in sales, marketing, and AI capabilities are driving momentum and expanding the addressable market.

• Strong demand for cloud and services drove revenue increases, despite global macro volatility.

• Launched Editions packaging for Manhattan Active Solutions, offering three tiers to serve a broader customer base.

• AI offerings, particularly ActiveAgents, are delivering measurable operational value and accelerating customer adoption.

Financial highlights

• Q2 total revenue was $297.8 million, up from $272.4 million in Q2 2025; cloud revenue rose 26% to $126.7 million.

• Adjusted operating profit was $103.9 million with a 34.9% margin; adjusted EPS was $1.39, up from $1.31.

• GAAP EPS was $0.85, down from $0.93, due to $8 million restructuring expense.

• Operating cash flow increased to $90.7 million; free cash flow margin was 30.1%.

• RPO ended at $2.47 billion, up from $2.35 billion at March 31, 2026.

Outlook and guidance

• Full-year total revenue guidance raised to $1.16–$1.166 billion (7–8% growth; 11% growth excluding license/maintenance attrition).

• Cloud revenue midpoint increased to $505.5 million, representing 24% growth.

• Adjusted operating margin guidance raised to 35.1% for the year.

• Adjusted EPS range increased to $5.44–$5.50; GAAP EPS midpoint raised to $3.62.

• RPO expected at high end of $2.62–$2.68 billion target (18–20% growth).

• FX expected to be a 1-point headwind in the second half.

• Guidance excludes equity-based compensation, restructuring, and unusual health insurance claims.