Manhattan Associates (MANH) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue of $306.2M, up 11% YoY; cloud revenue grew 28% to $134.4M, and RPO rose 25% to $2.59B. Record bookings marked the fourth consecutive quarter, and cloud revenue exceeded services for the first time.

• Year-to-date deal volume exceeded full-year 2025 volume, spanning new logos, upsells, renewals and conversions.

• Growth momentum was supported by product innovation, investment in sales and marketing, faster deployments, partner expansion and broader reach through Editions.

Financial highlights

• Q3 revenue was $306.2M vs. $275.8M; cloud subscriptions revenue was $134.4M vs. $104.9M, and services revenue was $134.4M vs. $133.0M.

• Q3 GAAP operating income was $81.0M vs. $75.8M; adjusted operating income was $115.2M vs. $103.4M.

• Q3 GAAP diluted EPS was $1.04 vs. $0.96; adjusted diluted EPS was $1.55 vs. $1.36.

• Nine-month revenue increased 9% to $886.2M; GAAP operating income was $212.2M vs. $212.8M, while adjusted operating income was $310.5M vs. $295.7M.

• Nine-month GAAP diluted EPS was $2.72 vs. $2.75; adjusted diluted EPS was $4.18 vs. $3.85.

Outlook and guidance

• FY26 RPO growth outlook rose to 21% YoY from 18%-20%, reflecting year-to-date performance and pipeline.

• FY26 revenue guidance is $1.176B-$1.178B; midpoint implies 9% all-in growth and 12% growth excluding license and maintenance attrition.

• FY26 adjusted operating margin guidance is 35.2%-35.4%, midpoint 35.3%; adjusted EPS guidance is $5.54-$5.56 and GAAP EPS guidance is $3.62-$3.64.

• Q4 targets are revenue of $291M, adjusted operating margin of 36.1%, adjusted EPS of $1.38 and GAAP EPS of $0.92.

• Preliminary 2027 view calls for 20% cloud revenue growth, low-single-digit services growth and continued operating margin expansion alongside investment.