--- title: "Manhattan Associates Reports Fourth Quarter Results | MANH Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/273891419.md" description: "Manhattan Associates Inc. reported a 25% increase in RPO bookings and a revenue of $270.4 million for Q4 2025, up from $255.8 million in Q4 2024. GAAP diluted EPS rose to $0.86 from $0.77, while adjusted diluted EPS increased to $1.21 from $1.17. The company also announced a share repurchase program totaling $100 million. For 2026, Manhattan expects total revenue between $1,133 million and $1,153 million, with a GAAP EPS guidance of $3.37 to $3.53. The company continues to focus on growth and customer success with new AI solutions." datetime: "2026-01-27T13:06:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273891419.md) - [en](https://longbridge.com/en/news/273891419.md) - [zh-HK](https://longbridge.com/zh-HK/news/273891419.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/273891419.md) | [繁體中文](https://longbridge.com/zh-HK/news/273891419.md) # Manhattan Associates Reports Fourth Quarter Results | MANH Stock News **RPO Bookings Increased 25% over Prior Year** ATLANTA--(BUSINESS WIRE)--Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $270.4 million for the fourth quarter ended December 31, 2025, compared to $255.8 million in Q4 2024. GAAP diluted earnings per share for Q4 2025 was $0.86 compared to $0.77 in Q4 2024. Non-GAAP adjusted diluted earnings per share for Q4 2025 was $1.21 compared to $1.17 in Q4 2024. “Manhattan's business momentum continues to strengthen. We delivered record fourth quarter cloud bookings, and our industry leading solutions are gaining market share,” said Manhattan Associates president and CEO Eric Clark. “Manhattan enters 2026 with an expanded go-to-market footprint and numerous opportunities to drive growth from new and existing customers. Our global team is dedicated to our customers’ success, and we are excited for our newly released AI agents to help deliver optimal results for our entire Active customer community,” Mr. Clark concluded. **FOURTH QUARTER 2025 FINANCIAL SUMMARY:** - Consolidated total revenue was $270.4 million for Q4 2025, compared to $255.8 million for Q4 2024. - Cloud subscription revenue was $108.6 million for Q4 2025, compared to $90.3 million for Q4 2024. - License revenue was $2.6 million for Q4 2025, compared to $5.5 million for Q4 2024. - Services revenue was $120.0 million for Q4 2025, compared to $119.5 million for Q4 2024. - GAAP diluted earnings per share was $0.86 for Q4 2025, compared to $0.77 for Q4 2024. - Adjusted diluted earnings per share, a non-GAAP measure, was $1.21 for Q4 2025, compared to $1.17 for Q4 2024. - GAAP operating income was $67.0 million for Q4 2025, compared to $60.7 million for Q4 2024. - Adjusted operating income, a non-GAAP measure, was $91.4 million for Q4 2025, compared to $90.3 million for Q4 2024. - Cash flow from operations was $147.0 million for Q4 2025, compared to $104.7 million for Q4 2024. Days Sales Outstanding was 73 days at both December 31, 2025 and at September 30, 2025. - Cash totaled $328.7 million at December 31, 2025, compared to $263.6 million at September 30, 2025. - During the three months ended December 31, 2025, the Company repurchased 415,925 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $75.0 million. In January 2026, our Board of Directors replenished the Company’s share repurchase authority to an aggregate of $100.0 million of our common stock. **FULL YEAR 2025 FINANCIAL SUMMARY:** - Consolidated total revenue for the twelve months ended December 31, 2025, was $1,081.4 million, compared to $1,042.4 million for the twelve months ended December 31, 2024. - Cloud subscription revenue was $408.1 million for the twelve months ended December 31, 2025, compared to $337.2 million for the twelve months ended December 31, 2024. - License revenue was $14.8 million for the twelve months ended December 31, 2025, compared to $15.1 million for the twelve months ended December 31, 2024. - Services revenue was $503.0 million for the twelve months ended December 31, 2025, compared to $525.5 million for the twelve months ended December 31, 2024. - GAAP diluted earnings per share for the twelve months ended December 31, 2025, was $3.60, compared to $3.51 for the twelve months ended December 31, 2024. - Adjusted diluted earnings per share, a non-GAAP measure, was $5.06 for the twelve months ended December 31, 2025, compared to $4.72 for the twelve months ended December 31, 2024. - GAAP operating income was $279.8 million for the twelve months ended December 31, 2025, compared to $261.6 million for the twelve months ended December 31, 2024. - Adjusted operating income, a non-GAAP measure, was $387.1 million for the twelve months ended December 31, 2025, compared to $361.8 million for the twelve months ended December 31, 2024. - Cash flow from operations was $389.5 million for the twelve months ended December 31, 2025, compared to $295.0 million for the twelve months ended December 31, 2024. - During the twelve months ended December 31, 2025, the Company repurchased 1,451,019 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors, for a total investment of $274.5 million. In January 2026, our Board of Directors replenished the Company’s share repurchase authority to an aggregate of $100.0 million of our common stock. **2026 GUIDANCE** Manhattan Associates provides the following revenue, operating margin, and diluted earnings per share guidance for the full year 2026: **Guidance Range - 2026 Full Year** **_($'s in millions, except operating margin and EPS)_** **$ Range** **% Growth Range** **Total revenue** **$1,133** **$1,153** **5%** **7%** **_Operating Margin:_** **GAAP operating margin** **24.1%** **24.7%** **Equity-based compensation** **10.4%** **10.3%** **Adjusted operating margin(1)** **34.5%** **35.0%** **_Diluted earnings per share (EPS):_** **GAAP EPS** **$3.37** **$3.53** **\-6%** **\-2%** **Equity-based compensation** **1.69** **1.69** **Excess tax benefit on stock vesting(2)** **(0.02)** **(0.02)** **Adjusted EPS(1)** **$5.04** **$5.20** **0%** **3%** (1) Adjusted operating margin and adjusted EPS are non-GAAP measures that exclude the impact of equity-based compensation and the related income tax effects, if applicable. (2) Excess tax benefit on stock vesting expected to occur primarily in the first quarter of 2026. Manhattan Associates currently intends to make public certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. See our cautionary note regarding “forward-looking statements” below. Manhattan Associates will make this earnings release and a recording of the conference call referenced below available on the investor relations section of the Manhattan Associates website at ir.manh.com. Following publication of this earnings release, any expectations with respect to future financial performance contained in this release or the conference call, including the guidance, should be considered historical only, and Manhattan Associates disclaims any obligation to update them. **CONFERENCE CALL** Manhattan Associates’ conference call regarding its fourth quarter and twelve months ended December 31, 2025 financial results will be held today, January 27, 2026, at 4:30 p.m. Eastern Time. The Company will also discuss its business and expectations for the year and next quarter in additional detail during the call. We invite investors to a live webcast of the conference call through the Investor Relations section of the Manhattan Associates website at ir.manh.com. To listen to the live webcast, please go to the website at least 15 minutes before the call to download and install any necessary audio software. The Internet webcast will be available until Manhattan Associates’ first quarter 2026 earnings release. **GAAP VERSUS NON-GAAP PRESENTATION** Manhattan Associates provides adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share in this press release as additional information regarding the Company’s historical and projected operating results. These measures are not in accordance with, or alternatives to, GAAP, and may be different from similarly titled non-GAAP measures used by other companies. The Company believes the presentation of these non-GAAP financial measures facilitates investors’ ability to understand and compare the Company’s results and guidance, because the measures provide supplemental information in evaluating the operating results of its business, as distinct from results that include items not indicative of ongoing operating results, and because the Company believes its peers typically publish similar non-GAAP measures. This release should be read in conjunction with the Company’s Form 8-K earnings release filing for the three and twelve months ended December 31, 2025. Non-GAAP adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share exclude the impact of equity-based compensation, an expense – net of insurance recoveries, related to an unusual health insurance claim, and restructuring expense – net of income tax effects, collectively. They also exclude the tax benefits or deficiencies of vested stock awards caused by differences in the amount deductible for tax purposes from the compensation expense recorded for financial reporting purposes. We include reconciliations of the Company’s GAAP financial measures to non-GAAP adjustments in the supplemental information attached to this release. **ABOUT MANHATTAN ASSOCIATES** Manhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology, and unmatched experience help drive both top-line growth and bottom-line profitability for our customers. Manhattan Associates designs, builds, and delivers leading edge cloud solutions so that across the store, through your network, or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com. _This press release contains “forward-looking statements” relating to Manhattan Associates, Inc. Forward-looking statements in this press release include, without limitation, the information set forth under “2026 Guidance” and statements identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “project,” “estimate,” and similar expressions. Prospective investors are cautioned that any of those forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by those forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by those forward-looking statements are: economic conditions, including disruption and transformation in the retail sector and our vertical markets; delays in product development; competitive and pricing pressures; software errors and information technology failures, disruption and security breaches; risks related to our products’ technology and customer implementations; risks associated with our use of generative and agentic artificial intelligence; global instability, including the wars in Ukraine and the Middle East; and the other risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and in Item 1A of Part II in subsequent Quarterly Reports on Form 10-Q. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results._ **MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES** **Condensed Consolidated Statements of Income** **(in thousands, except per share amounts)** **Three Months Ended December 31,** **Year Ended December 31,** **2025** **2024** **2025** **2024** **(unaudited)** **(unaudited)** Revenue: Cloud subscriptions **$108,558** $90,330 **$408,138** $337,203 Software license **2,643** 5,452 **14,819** 15,085 Maintenance **32,279** 33,568 **129,972** 138,304 Services **120,011** 119,482 **503,044** 525,517 Hardware **6,898** 6,969 **25,419** 26,243 Total revenue **270,389** 255,801 **1,081,392** 1,042,352 Costs and expenses: Cost of cloud subscriptions, maintenance and services **121,522** 112,739 **471,405** 469,659 Cost of software license **223** 253 **934** 1,321 Research and development **38,533** 32,996 **145,062** 137,689 Sales and marketing **22,078** 20,307 **81,175** 75,976 General and administrative **19,489** 27,187 **93,762** 89,810 Depreciation and amortization **1,532** 1,631 **6,317** 6,301 Restructuring expense **\-** \- **2,937** \- Total costs and expenses **203,377** 195,113 **801,592** 780,756 Operating income **67,012** 60,688 **279,800** 261,596 Other income, net **1,438** 1,996 **6,094** 5,218 Income before income taxes **68,450** 62,684 **285,894** 266,814 Income tax provision **16,497** 14,668 **65,946** 48,450 Net income **$51,953** $48,016 **$219,948** $218,364 Basic earnings per share **$0.87** $0.79 **$3.64** $3.56 Diluted earnings per share **$0.86** $0.77 **$3.60** $3.51 Weighted average number of shares: Basic **60,036** 60,999 **60,473** 61,303 Diluted **60,642** 62,009 **61,054** 62,183 **Reconciliation of Selected GAAP to Non-GAAP Measures** **(in thousands, except per share amounts)** **Three Months Ended December 31,** **Year Ended December 31,** **2025** 2024 **2025** 2024 Operating income **$67,012** 60,688 **$279,800** 261,596 Equity-based compensation (a) **30,585** 22,592 **111,263** 93,206 Unusual health insurance claim (c) **(6,224)** 7,002 **(6,882)** 7,002 Restructuring expense (d) \- \- **2,937** Adjusted operating income (Non-GAAP) **$91,373** $90,282 **$387,118** $361,804 Income tax provision **$16,497** 14,668 **65,946** 48,450 Equity-based compensation (a) **4,498** 3,160 **15,247** 14,127 Tax benefit of stock awards vested (b) **4** 57 **3,928** 9,120 Unusual health insurance claim (c) **(1,501)** 1,690 **(1,660)** 1,690 Restructuring expense (d) \- \- **708** \- Adjusted income tax provision (Non-GAAP) **$19,498** 19,575 **84,169** 73,387 Net income **$51,953** 48,016 **219,948** 218,364 Equity-based compensation (a) **26,087** 19,432 **96,016** 79,079 Tax benefit of stock awards vested (b) **(4)** (57) **(3,928)** (9,120) Unusual health insurance claim (c) **(4,723)** 5,312 **(5,222)** 5,312 Restructuring expense (d) \- \- **2,229** \- Adjusted net income (Non-GAAP) **$73,313** 72,703 **309,043** 293,635 Diluted EPS **$0.86** $0.77 **$3.60** $3.51 Equity-based compensation (a) **0.43** 0.31 **1.57** 1.27 Tax benefit of stock awards vested (b) \- \- **(0.06)** (0.15) Unusual health insurance claim (c) **(0.08)** 0.09 **(0.09)** 0.09 Restructuring expense (d) \- \- **0.04** \- Adjusted diluted EPS (Non-GAAP) **$1.21** $1.17 **$5.06** $4.72 Fully diluted shares **60,642** 62,009 **61,054** 62,183 a) Adjusted results exclude all equity-based compensation, as detailed below, to facilitate comparison with our peers and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. We do not receive a GAAP tax benefit for a portion of our equity-based compensation, mainly because of Section 162(m) of the Internal Revenue Code, which limits tax deductions for compensation granted to certain executives. **Three Months Ended December 31,** **Year Ended December 31,** **2025** 2024 **2025** 2024 Cost of services **$12,275** $10,049 **$45,630** $41,531 Research and development **6,744** 4,948 **24,592** 20,760 Sales and marketing **3,400** 2,149 **9,094** 8,444 General and administrative **8,166** 5,446 **31,947** 22,471 Total equity-based compensation **$30,585** $22,592 **$111,263** $93,206 (b) Adjustments represent the excess tax benefits and tax deficiencies of the equity awards vested during the period. Excess tax benefits (deficiencies) occur when the amount deductible on our tax return for an equity award is more (less) than the cumulative compensation cost recognized for financial reporting purposes. As discussed above, we exclude equity-based compensation from adjusted non-GAAP results to be consistent with other companies in the software industry and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. Therefore, we also exclude the related tax benefit (expense) generated upon their vesting. (c) In the fourth quarter of 2024, we recorded $7.0 million of expense for an unusual health insurance claim. During the first quarter of 2025, we received an insurance recovery of $4.7 million for this claim, partially offset by $1.0 million of ongoing expense for the claim. During the second quarter of 2025, we recorded an additional $3.0 million of expense for this unusual health insurance claim. During the fourth quarter of 2025, we settled the remaining balance of the claim and recorded $6.2 million of benefit as the final payment was much lower than the cost estimates previously provided by our health insurance provider. Based on the uncommonly large magnitude and nature of the claim and timing of related insurance recoveries, we do not believe that this expense reflects our normal operating activities, and we have excluded the amount from adjusted non-GAAP results. (d) In January 2025, the Company eliminated about 100 positions to align our services capacity with customer demand, which has been impacted by macro-economic uncertainty. We recorded pre-tax restructuring expense in the first quarter of 2025 of approximately $2.9 million. The expense primarily consists of employee severance and outplacement services. We do not believe that the expense is a common cost that resulted from normal operating activities, and thus we have excluded the amount from adjusted non-GAAP results. **MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES** **Condensed Consolidated Balance Sheets** **(in thousands, except share and per share data)** **December 31, 2025** **December 31, 2024** **ASSETS** Current Assets: Cash and cash equivalents **$** **328,747** $ 266,230 Accounts receivable, net **214,679** 205,475 Prepaid expenses and other current assets **39,912** 31,559 Total current assets **583,338** 503,264 Property and equipment, net **23,120** 13,971 Operating lease right-of-use assets **50,443** 47,923 Goodwill **62,244** 62,226 Deferred income taxes **75,900** 94,505 Other assets **44,343** 35,662 Total assets **$** **839,388** $ 757,551 **LIABILITIES AND SHAREHOLDERS' EQUITY** Current liabilities: Accounts payable **$** **22,182** $ 26,615 Accrued compensation and benefits **69,309** 72,180 Accrued and other liabilities **26,570** 22,275 Deferred revenue **337,049** 277,970 Income taxes payable **803** 1,264 Total current liabilities **455,913** 400,304 Operating lease liabilities, long-term **56,180** 47,794 Other non-current liabilities **12,530** 10,327 Shareholders' equity: Preferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding at December 31, 2025 and December 31, 2024 **\-** \- Common stock, $.01 par value; 200,000,000 shares authorized; 59,845,291 and 60,921,191 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively **598** 609 Retained earnings **345,097** 329,439 Accumulated other comprehensive loss **(30,930** **)** (30,922 ) Total shareholders' equity **314,765** 299,126 Total liabilities and shareholders' equity **$** **839,388** $ 757,551 **MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES** **Condensed Consolidated Statements of Cash Flows** **(in thousands)** **Year Ended December 31,** **2025** **2024** **Operating activities:** Net income **$** **219,948** $ 218,364 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization **6,317** 6,301 Equity-based compensation **111,263** 93,206 (Gain) Loss on disposal of equipment **(21** **)** (133 ) Deferred income taxes **18,342** (28,689 ) Unrealized foreign currency loss (gain) **(253** **)** (380 ) Changes in operating assets and liabilities: Accounts receivable, net **(3,583** **)** (26,702 ) Other assets **(14,729** **)** (4,157 ) Accounts payable, accrued and other liabilities **(229** **)** 1,248 Income taxes **319** (6,242 ) Deferred revenue **52,096** 42,187 Net cash provided by operating activities **389,470** 295,003 **Investing activities:** Purchases of property and equipment **(15,457** **)** (8,675 ) Net cash used in investing activities **(15,457** **)** (8,675 ) **Financing activities:** Purchase of common stock **(315,162** **)** (286,366 ) Net cash used in financing activities **(315,162** **)** (286,366 ) Foreign currency impact on cash **3,666** (4,473 ) Net change in cash and cash equivalents **62,517** (4,511 ) Cash and cash equivalents at beginning of period **266,230** 270,741 Cash and cash equivalents at end of period **$** **328,747** $ 266,230 **MANHATTAN ASSOCIATES, INC.** **SUPPLEMENTAL INFORMATION** **1\. GAAP and adjusted earnings per share by quarter are as follows:** **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **GAAP Diluted EPS** **$0.86** **$0.85** **$1.03** **$0.77** **$3.51** **$0.85** **$0.93** **$0.96** **$0.86** **$3.60** **Adjustments to GAAP:** Equity-based compensation 0.30 0.34 0.33 0.31 1.27 0.40 0.35 0.40 0.43 1.57 Tax benefit of stock awards vested (0.13) (0.01) (0.01) \- (0.15) (0.06) \- (0.01) \- (0.06) Unusual health insurance claim \- \- \- 0.09 0.09 (0.05) 0.04 \- (0.08) (0.09) Restructuring expense \- \- \- \- \- 0.04 \- \- \- 0.04 **Adjusted Diluted EPS** **$1.03** **$1.18** **$1.35** **$1.17** **$4.72** **$1.19** **$1.31** **$1.36** **$1.21** **$5.06** **Fully Diluted Shares** **62,493** **62,118** **61,948** **62,009** **62,183** **61,527** **61,074** **60,954** **60,642** **61,054** **2\. Revenues and operating income by reportable segment are as follows (in thousands):** **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **Revenue:** Americas $196,312 $205,955 $205,852 $194,367 $802,486 $194,615 $206,606 $206,659 $202,546 $810,426 EMEA 46,620 46,918 48,082 48,903 190,523 55,542 52,301 53,975 53,978 215,796 APAC 11,620 12,445 12,747 12,531 49,343 12,630 13,514 15,161 13,865 55,170 **$254,552** **$265,318** **$266,681** **$255,801** **$1,042,352** **$262,787** **$272,421** **$275,795** **$270,389** **$1,081,392** **GAAP Operating Income:** Americas $36,687 $45,300 $49,033 $36,323 $167,343 $33,862 $48,051 $45,783 $39,875 $167,571 EMEA 15,884 17,195 20,521 18,896 72,496 23,703 19,807 22,877 21,686 88,073 APAC 5,059 5,693 5,536 5,469 21,757 5,607 5,930 7,168 5,451 24,156 **$57,630** **$68,188** **$75,090** **$60,688** **$261,596** **$63,172** **$73,788** **$75,828** **$67,012** **$279,800** **Adjustments (pre-tax):** **Americas:** Equity-based compensation $22,095 $24,666 $23,853 $22,592 $93,206 $28,826 $24,275 $27,577 $30,585 $111,263 Unusual health insurance claim \- \- \- 7,002 7,002 (3,658) 3,000 \- (6,224) (6,882) Restructuring expense \- \- \- \- \- 2,929 8 \- \- 2,937 **$22,095** **$24,666** **$23,853** **$29,594** **$100,208** **$28,097** **$27,283** **$27,577** **$24,361** **$107,318** **Adjusted non-GAAP Operating Income:** Americas $58,782 $69,966 $72,886 $65,917 $267,551 $61,959 $75,334 $73,360 $64,236 $274,889 EMEA 15,884 17,195 20,521 18,896 72,496 23,703 19,807 22,877 21,686 88,073 APAC 5,059 5,693 5,536 5,469 21,757 5,607 5,930 7,168 5,451 24,156 **$79,725** **$92,854** **$98,943** **$90,282** **$361,804** **$91,269** **$101,071** **$103,405** **$91,373** **$387,118** **3\. Impact of Currency Fluctuation** The following table reflects the increases (decreases) in the results of operations for each period attributable to the change in foreign currency exchange rates from the prior period as well as foreign currency gains (losses) included in other income, net for each period (in thousands): **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** Revenue $648 $(531) $936 $316 $1,369 $(1,591) $2,724 $2,652 $3,833 $7,618 Costs and expenses 176 (673) 211 (227) (513) (1,966) 1,180 738 906 858 Operating income 472 142 725 543 1,882 375 1,544 1,914 2,927 6,760 Foreign currency gains (losses) in other income (564) (577) (331) 519 (953) 131 (65) 1,596 9 1,671 **$(92)** **$(435)** **$394** **$1,062** **$929** **$506** **$1,479** **$3,510** **$2,936** **$8,431** Manhattan Associates has a large research and development center in Bangalore, India. The following table reflects the increases (decreases) in the financial results for each period attributable to changes in the Indian Rupee exchange rate (in thousands): **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** Operating income $185 $307 $261 $302 $1,055 $785 $514 $832 $1,409 $3,540 Foreign currency gains (losses) in other income 164 41 284 1,283 1,772 15 140 1,978 742 2,875 Total impact of changes in the Indian Rupee **$349** **$348** **$545** **$1,585** **$2,827** **$800** **$654** **$2,810** **$2,151** **$6,415** **4\. Other income includes the following components (in thousands):** **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** Interest income $1,414 $1,503 $1,636 $1,476 $6,029 $1,101 $852 $1,007 $1,429 $4,389 Foreign currency gains (losses) (564) (577) (331) 519 (953) 130 (65) 1,597 9 1,671 Other non-operating income (expense) 146 (12) 7 1 142 106 (72) \- (1) 33 Total other income **$996** **$914** **$1,312** **$1,996** **$5,218** **$1,337** **$715** **$2,604** **$1,438** **$6,094** **5\. Capital expenditures are as follows (in thousands):** **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** Capital expenditures $2,321 $2,217 $1,009 $3,128 $8,675 $891 $3,980 $5,928 $4,658 $15,457 **6\. Stock Repurchase Activity (in thousands):** **2024** **2025** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** **1st Qtr** **2nd Qtr** **3rd Qtr** **4th Qtr** **Full Year** Shares purchased under publicly-announced buy-back program 294 343 194 156 987 539 263 233 416 1,451 Shares withheld for taxes due upon vesting of restricted stock 165 3 8 2 178 179 3 8 2 192 Total shares purchased 459 346 202 158 1,165 718 266 241 418 1,643 Total cash paid for shares purchased under publicly-announced buy-back program $73,411 $74,999 $49,687 $43,539 $241,636 $100,000 $49,596 $49,947 $74,996 $274,539 Total cash paid for shares withheld for taxes due upon vesting of restricted stock 40,423 713 1,917 569 43,622 36,447 595 1,602 398 39,042 Total cash paid for excise tax \- \- \- 1,108 1,108 \- \- \- 1,581 1,581 Total cash paid for shares repurchased $113,834 $75,712 $51,604 $45,216 $286,366 $136,447 $50,191 $51,549 $76,975 $315,162 **7\. Remaining Performance Obligations** We disclose revenue that we expect to recognize from our remaining performance obligations ("RPO"). Over 98% of our RPO represents cloud native subscriptions with non-cancelable terms greater than one year (including cloud-deferred revenue as well as amounts we will invoice and recognize as revenue from our performance of cloud services in future periods). Maintenance contracts are typically one year and not included in the RPO. Our RPO as of the end of each period appears below (in thousands): **March 31, 2024** **June 30, 2024** **September 30, 2024** **December 31, 2024** **March 31, 2025** **June 30, 2025** **September 30, 2025** **December 31, 2025** Remaining Performance Obligations $1,516,430 $1,601,531 $1,686,421 $1,780,400 $1,891,384 $2,013,495 $2,076,628 $2,232,234 View source version on businesswire.com: https://www.businesswire.com/news/home/20260127602098/en/ Michael Bauer Senior Director, Investor Relations Manhattan Associates, Inc. 678-597-7538 mbauer@manh.com Devika Goel Senior Manager, Public Relations Manhattan Associates, Inc. 678-597-6754 dgoel@manh.com Source: Manhattan Associates Inc. ### Related Stocks - [Manhattan Associates, Inc. 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