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Manhattan Associates (MANH) investor relations material
Manhattan Associates Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 results with total revenue of $272.4M, up 3% year-over-year, driven by 22% cloud revenue growth and strong RPO bookings surpassing $2B.
Adjusted operating profit reached $101M with a 37.1% margin; GAAP operating income was $73.8M; adjusted EPS was $1.31, GAAP EPS $0.93.
Announced leadership transition for 2026, new Chief Sales Officer, and expanded sales team.
Expanded partnerships with Google and Shopify, and launched new AI-driven product capabilities and agentic.ai platform.
Management remains optimistic about growth opportunities despite macroeconomic challenges.
Financial highlights
Q2 total revenue: $272.4M (up 3% YoY); cloud revenue: $100.4M (up 22%); services revenue: $128.9M (down 6%); hardware revenue: $6.5M (down 16%).
Adjusted operating profit: $101M (37.1% margin); GAAP operating income: $73.8M (27.1% margin).
Adjusted EPS: $1.31 (up 11%); GAAP EPS: $0.93 (up 9%).
Operating cash flow for Q2: $74M; cash at quarter-end: $230.6M; share repurchases: $49.6M in Q2, $149.6M YTD.
Six-month revenue: $535.2M (up 3% YoY); six-month operating income: $137M (up 9% YoY).
Outlook and guidance
Full-year 2025 revenue guidance: $1.071B–$1.075B (3% growth); adjusted operating margin midpoint: 35%; adjusted EPS midpoint: $4.80.
Q3 revenue targeted at $270M–$272M; Q4 midpoint at $267M, reflecting retail seasonality.
Cloud revenue midpoint for 2025: $408.5M; services revenue midpoint: $497M.
RPO guidance for year-end: $2.11B–$2.15B, excluding FX.
Tax rate for 2025 raised to 22.5%, benefiting operating cash flow by $30M due to U.S. tax law changes.
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