$MANH · MANHATTAN ASSOCIATES INC
Manhattan Associates reported Q3 FY2026 revenue of $306.2M (+11% YoY) with cloud subscription revenue surging 28% to $134.4M, exceeding services revenue for the first time. Adjusted EPS of $1.55 beat the prior-year $1.36, while GAAP EPS was $1.04. RPO reached a record $2.59B, up 25% YoY. Full-year 2026 guidance calls for $1.176B-$1.178B in revenue and adjusted EPS of $5.54-$5.56.
- Cloud subscription revenue grew 28% YoY to $134.4M, surpassing services revenue for the first time.
- Q3 adjusted EPS of $1.55 beat prior-year $1.36; GAAP EPS rose to $1.04 from $0.96.
- RPO increased 25% YoY to $2.59B, up from $2.47B at June 30, 2026.
- Full-year 2026 guidance: total revenue $1.176B-$1.178B (9% growth), adjusted EPS $5.54-$5.56 (9-10% growth).
- Company repurchased $325M in shares YTD; $175M remaining under the $500M March 2026 authorization.
Extended-hours trading shows MANH at $261.52, up 11.77% from the regular-session close of $233.98. The after-hours surge reflects strong cloud revenue acceleration, record bookings, and the RPO milestone crossing $2.5B.
Manhattan crossed a structural inflection point with cloud revenue surpassing services, signaling the SaaS transition is accelerating faster than expected and driving an 11.8% after-hours surge.
Manhattan's cloud revenue overtaking services marks a key inflection for supply-chain SaaS providers, mirroring the broader enterprise shift to cloud-native platforms. The 28% cloud growth rate outpaces many legacy supply-chain software peers.
Sales and marketing expenses jumped 48% YoY to $26.8M in Q3, signaling aggressive spending to capture demand. DSO deteriorated to 81 days from 67 days sequentially, driven by back-end-loaded quarterly billing.