--- title: "Manhattan Associates | 10-K: FY2025 Revenue Beats Estimate at USD 1.081 B" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/274851076.md" datetime: "2026-02-04T17:41:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/274851076.md) - [en](https://longbridge.com/en/news/274851076.md) - [zh-HK](https://longbridge.com/zh-HK/news/274851076.md) --- > 支持的语言: [English](https://longbridge.com/en/news/274851076.md) | [繁體中文](https://longbridge.com/zh-HK/news/274851076.md) # Manhattan Associates | 10-K: FY2025 Revenue Beats Estimate at USD 1.081 B Revenue: As of FY2025, the actual value is USD 1.081 B, beating the estimate of USD 1.076 B. EPS: As of FY2025, the actual value is USD 3.6, beating the estimate of USD 3.4462. EBIT: As of FY2025, the actual value is USD 275.41 M. ### Consolidated Financial Performance Manhattan Associates, Inc. reported total revenue of $1,081.392 million in 2025, an increase of 4% from $1,042.352 million in 2024. Operating income for 2025 was $279.800 million, up 7% from $261.596 million in 2024, with operating margins improving to 25.9% in 2025 from 25.1% in 2024. Net income slightly increased to $219.948 million in 2025 from $218.364 million in 2024. #### Segment Revenue **Cloud Subscriptions Revenue:** Americas: $312.992 million in 2025, an 18% increase from $264.331 million in 2024. EMEA: $80.161 million in 2025, a 28% increase from $62.779 million in 2024. APAC: $14.985 million in 2025, a 48% increase from $10.093 million in 2024. Total Cloud Subscriptions: $408.138 million in 2025, a 21% increase from $337.203 million in 2024. **Software License Revenue:** Americas: $5.641 million in 2025, a -54% decrease from $12.251 million in 2024. EMEA: $8.407 million in 2025, a 511% increase from $1.376 million in 2024. APAC: $0.771 million in 2025, a -47% decrease from $1.458 million in 2024. Total Software License: $14.819 million in 2025, a -2% decrease from $15.085 million in 2024. **Maintenance Revenue:** Americas: $102.415 million in 2025, an -8% decrease from $110.751 million in 2024. EMEA: $18.935 million in 2025, a 3% increase from $18.349 million in 2024. APAC: $8.622 million in 2025, a -6% decrease from $9.204 million in 2024. Total Maintenance: $129.972 million in 2025, a -6% decrease from $138.304 million in 2024. **Services Revenue:** Americas: $364.731 million in 2025, a -6% decrease from $389.550 million in 2024. EMEA: $107.531 million in 2025, a 0% increase from $107.384 million in 2024. APAC: $30.782 million in 2025, an 8% increase from $28.583 million in 2024. Total Services: $503.044 million in 2025, a -4% decrease from $525.517 million in 2024. **Hardware Revenue:** Americas: $24.647 million in 2025, a -4% decrease from $25.603 million in 2024. EMEA: $0.762 million in 2025, a 20% increase from $0.635 million in 2024. APAC: $0.010 million in 2025, a 100% increase from $0.005 million in 2024. Total Hardware: $25.419 million in 2025, a -3% decrease from $26.243 million in 2024. **Total Revenue by Geographical Segment:** Americas: $810.426 million in 2025, a 1% increase from $802.486 million in 2024. EMEA: $215.796 million in 2025, a 13% increase from $190.523 million in 2024. APAC: $55.170 million in 2025, a 12% increase from $49.343 million in 2024. #### Operating Income by Segment - Americas: $167.571 million in 2025, a 0% increase from $167.343 million in 2024. - EMEA: $88.073 million in 2025, a 21% increase from $72.496 million in 2024. - APAC: $24.156 million in 2025, an 11% increase from $21.757 million in 2024. #### Operating Costs (Consolidated) - Cost of Cloud Subscriptions, Maintenance and Services: $471.405 million in 2025, a 0% increase from $469.659 million in 2024. - Cost of Software License: $0.934 million in 2025, a -29% decrease from $1.321 million in 2024. - Research and Development (R&D): $145.062 million in 2025, a 5% increase from $137.689 million in 2024. - Sales and Marketing: $81.175 million in 2025, a 7% increase from $75.976 million in 2024. - General and Administrative (G&A): $93.762 million in 2025, a 4% increase from $89.810 million in 2024. - Depreciation and Amortization: $6.317 million in 2025, a 0% increase from $6.301 million in 2024. - Restructuring Expense: $2.937 million in 2025, compared to $0 in 2024, incurred in the Americas segment. #### Cash Flow and Financial Condition - Cash Flow from Operating Activities: $389.5 million in 2025, an increase from $295.0 million in 2024. - Cash and Investments: $328.7 million at December 31, 2025, compared to $266.2 million at December 31, 2024. - Cash Paid for Income Taxes: $47.3 million in 2025, a decrease from $83.4 million in 2024. - Share Repurchases: Manhattan Associates, Inc. repurchased 1,451,019 shares for $274.5 million in 2025. - Days Sales Outstanding (DSO): 73 days for Q4 2025, compared to 74 days for Q4 2024. #### Unique Metrics - Remaining Performance Obligations (RPO): Approximately $2.2 billion as of December 31, 2025, a 25% increase over December 31, 2024. - International Revenue: Approximately $373.5 million in 2025, representing 35% of total revenue. - Employees: Approximately 4,370 employees worldwide at December 31, 2025. #### Outlook / Guidance Manhattan Associates, Inc. anticipates continued strong demand for its cloud solutions despite global economic caution and plans to invest in innovation to expand its product offerings and total addressable market. The company will focus on developing its cloud business and expanding global sales and marketing teams. Priorities for cash use in 2026 include continued investment in product development and accretive share repurchases, without anticipated borrowing requirements for general corporate purposes. ### 相关股票 - [Manhattan Associates (MANH.US)](https://longbridge.com/zh-CN/quote/MANH.US.md) ## 相关资讯与研究 - [How Investors Are Reacting To Manhattan Associates (MANH) Winning Rainforest’s AI Supply Chain Planning Deal](https://longbridge.com/zh-CN/news/279927718.md) - [Magnetar Financial LLC Acquires 8,626 Shares of Manhattan Associates, Inc. $MANH](https://longbridge.com/zh-CN/news/279022787.md) - [US 10 Year Note Futures Hold Key Support as Macro Crosscurrents Build](https://longbridge.com/zh-CN/news/281024783.md) - [Algernon Health Announces Proposed Name Change to “Grey Matters Health Inc.” and a 10:1 Share Consolidation | AGNPF Stock News](https://longbridge.com/zh-CN/news/281263773.md) - [Flutterwave Makes History with Full Banking License in Nigeria After 10 Years](https://longbridge.com/zh-CN/news/281637847.md)