Manhattan Associates Posts Record Q2 Revenue but GAAP EPS Dips
Event summary
- Q2 2026 revenue grew 9% YoY to $297.8M, driven by cloud subscription growth of 26% YoY.
- GAAP diluted earnings per share fell to $0.85 from $0.93 in Q2 2025, while non-GAAP adjusted EPS rose to $1.39 from $1.31.
- Company repurchased 874,029 shares for $125M in Q2 2026, with $225M remaining under the current repurchase authority.
- Reduced global headcount by approximately 6% on June 1, 2026, recording pre-tax restructuring expense of $8.3M.
The big picture
Manhattan Associates continues to capitalize on the shift towards cloud-based solutions, with Q2 2026 marking its third consecutive record bookings quarter. The company's strategic focus on AI-powered, cloud-native offerings positions it well in a competitive supply chain management landscape. However, global macro volatility and the need for operational efficiency remain key challenges.
What we're watching
- Cloud Momentum
- The pace at which cloud subscription revenue growth will sustain amid global macro volatility.
- Operational Efficiency
- Whether the recent restructuring can enhance operational efficiencies without impacting customer outcomes.
- Market Share Expansion
- How targeted go-to-market investments will impact market share gains in the supply chain commerce sector.
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