Manhattan Associates Q4 Cloud Revenue Climbs 20% to $108.6M
Manhattan Associates reported Q4 revenue of $270.4 million, up from $255.8 million year-over-year, driven by cloud subscription revenue rising 20% to $108.6 million. Full-year cloud revenue climbed to $408.1 million from $337.2 million and adjusted EPS increased to $5.06 from $4.72.
1. Q4 Financial Performance
Manhattan Associates delivered consolidated Q4 revenue of $270.4 million, up from $255.8 million, with cloud subscription revenue rising to $108.6 million from $90.3 million, while license revenue fell to $2.6 million from $5.5 million and services revenue reached $120 million. Adjusted diluted earnings per share were $1.21, compared with $1.17 in the prior year.
2. Full-Year Results
For full-year 2025, total revenue increased to $1.08 billion from $1.04 billion, driven by cloud revenue growth to $408.1 million from $337.2 million. Adjusted diluted earnings per share rose to $5.06, up from $4.72 a year earlier.
3. Analyst Coverage
Truist Securities initiated coverage with a Buy rating and $240 price target, emphasizing the company’s strong 20% cloud subscription revenue visibility and record fourth-quarter cloud bookings. The firm highlighted Manhattan Associates’ continued market share gains in supply chain software.
4. Business Focus
Manhattan Associates operates a cloud-native platform that integrates front-end customer engagement with back-end warehousing and logistics execution. With no debt and a mid-cap profile, the company is positioned for sustained subscription growth and market expansion.