Manhattan Associates, Inc.
manh.comWhat Do They Do?
Develops and sells software for supply-chain execution, inventory planning and omnichannel commerce to retailers, wholesalers and manufacturers.
10-K for FY2025, filed Feb 4, 2026We develop, sell, deploy, service and maintain software solutions designed to manage supply chains, inventory and omnichannel operations…View ↗
Supply Chain Execution - We provide companies with the tools needed to manage distribution and optimize transportation costs throughout…View ↗
Omnichannel Commerce - Meeting ever-evolving consumer expectations of service, inventory availability, and delivery convenience is a…View ↗
Supply Chain Planning – Manhattan’s supply chain planning solutions enable distributors of finished goods, such as apparel, food…View ↗
How Do They Make Money?
Services customers pay for implementation, training and managed support, usually billed monthly as work is performed, though some engagements use fixed fees; cloud customers pay periodic fees over their subscription terms, and maintenance is generally prepaid. License payment terms vary, and customers order third-party hardware.
10-K for FY2025, filed Feb 4, 2026Our services revenue consists of fees generated from implementation, training and application managed services, including reimbursements of…View ↗
Under our Manhattan Active® Solutions cloud subscription offering, customers pay a periodic fee for the right to use our software within a…View ↗
We provide maintenance services to customers who have previously purchased a perpetual license, including a comprehensive 24 hours per day…View ↗
Cloud subscriptions and maintenance for perpetual software licenses are typically billed annually in advance. Timing of invoicing to…View ↗
Hardware SalesView ↗
-
10-K for FY2025, filed Feb 4, 2026
FY2025 revenue by product or service ↗
$1.1B
-
10-K for FY2025, filed Feb 4, 2026
$1.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cloud Subscriptions
Recurring
10-K for FY2025, filed Feb 4, 2026 |
38%
FY2022: 23%
|
Cloud Subscriptions, FY2025
$408.1M Sources
|
Recurring |
|
Software License
Licensed
|
1.4%
FY2022: 3.2%
|
Software License, FY2025
$14.8M Sources
|
Licensed |
|
Maintenance
Recurring
10-K for FY2025, filed Feb 4, 2026 |
12%
FY2022: 19%
|
Maintenance, FY2025
$130M Sources
|
Recurring |
|
Services
Usage-based
10-K for FY2025, filed Feb 4, 2026 |
47%
FY2022: 51%
|
Services, FY2025
$503M Sources
|
Usage-based |
|
Hardware
Sold outright
|
2.4%
FY2022: 3.8%
|
Hardware, FY2025
$25.4M Sources
|
Sold outright |
Who Are Their Customers?
Retailers and wholesalers, manufacturers and distributors, and logistics providers buy its supply-chain and commerce software; cloud and license sales are primarily direct, while resellers and third-party logistics providers extend sales into emerging markets.
10-K for FY2025, filed Feb 4, 2026To date, our customers have been suppliers, manufacturers, distributors, retailers, and logistics providers in a variety of industries. Our…View ↗
We employ multi-disciplinary sales teams of professionals with industry experience in sales and technical sales support. We generated the…View ↗
In addition to new customer sales, we continue to leverage our existing customer base to drive revenue from expansions of their existing…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 20 cents of every revenue dollar as net income in FY2025 and turned 35 cents into free cash flow.
10-K for FY2025, filed Feb 4, 2026
$279.8MView ↗
10-K for FY2025, filed Feb 4, 2026
$219.9MView ↗
10-K for FY2025, filed Feb 4, 2026
$374MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 31, 2026
$50.4MView ↗
- ▼ −11%
- vs $56.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
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Jul 28, 2026
Reported results and issued full-year revenue and earnings guidance
Revenue guidance is $1,160 million to $1,166 million, with 7% to 8% growth.
Sources
8-K, filed Jul 28, 2026
Guidance Range - 2026 Full Year ($'s in millions, except operating margin and EPS) $ Range % Growth Range Total revenue $1,160 $1,166 7% 8%…View ↗
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Feb 26, 2026
CFO Dennis Story will retire; Linda Pinne will succeed him
Story's transition takes effect March 31, 2026.
Sources
8-K, filed Feb 26, 2026
On February 26, 2026, Manhattan Associates, Inc. (the “Company”) announced that Mr. Dennis B. Story will retire as the Company’s Executive…View ↗
Growing. Revenue grew 63% in 4 years, from $663.6M in FY2021 to $1.1B in FY2025, about 13% a year.
Unified planning suite
The older report described inventory forecasting, replenishment, planning and allocation as separate inventory offerings. The latest report presents demand forecasting, replenishment and allocation as one real-time Supply Chain Planning solution connected to execution software.
10-K for FY2022, filed Feb 6, 2023 10-K for FY2025, filed Feb 4, 2026Inventory SolutionsView ↗
Inventory Optimization - This set of applications includes sophisticated demand forecasting capabilities that can address the particularly…View ↗
Planning - Manhattan’s Planning solutions provide merchants the tools they need to create channel-, store- or region-specific assortments.…View ↗
Allocation – Manhattan’s Allocation is designed to serve the softlines/apparel market. It provides inventory planning capabilities from…View ↗
Who Do They Compete With?
Competes with Oracle, SAP, Infor, Blue Yonder/Panasonic, E2Open, Infios, SAS Institute, IBM, Relex, Aptos, Jumpmind, and Salesforce
10-K for FY2025, filed Feb 4, 2026ERP vendors, including: Oracle, SAP and Infor, among others;View ↗
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