Manhattan Associates, Inc. (MANH) Income Statement
MANH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMANH revenue and net income
Where MANH's revenue goes
2025Each bar shows an amount and its share of revenue. MANH kept 20.3% of revenue as net income.
MANH profit margins
MANH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.7% | +12.1% | +13.0% | +6.9% |
| Gross profit | +6.7% | +14.4% | +14.4% | +6.8% |
| Operating income | +8.1% | +22.8% | +19.9% | +5.8% |
| Net income | +0.7% | +19.5% | +20.3% | +7.8% |
| EPS (diluted) | +7.2% | +22.5% | +23.6% | +12.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MANH quarterly EPS vs estimates
Manhattan Associates beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $1.03).
MANH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.04B | $928.7M | $767.1M | $663.6M | $586.4M | $617.9M | $559.2M | $594.6M | $604.6M |
| Cost of revenue | $478.7M | $477.3M | $436.4M | $364.9M | $305.7M | $278.8M | $293.0M | $249.5M | $254.8M | $259.0M |
| Gross profit | $602.7M | $565.1M | $492.4M | $402.2M | $357.9M | $307.5M | $325.0M | $309.7M | $339.8M | $345.6M |
| Research & development | $145.1M | $137.7M | $126.8M | $111.9M | $97.6M | $84.3M | $87.6M | $71.9M | $57.7M | $54.7M |
| Sales, general & admin | $174.9M | $165.8M | $155.7M | $137.6M | $125.9M | $109.2M | $121.5M | $103.9M | $93.5M | $96.5M |
| Total operating expenses | $320.0M | $303.5M | $282.5M | $249.5M | $223.6M | $193.5M | $209.1M | $175.8M | $151.2M | $151.3M |
| Operating income | $282.7M | $261.6M | $209.9M | $152.7M | $134.3M | $114.1M | $115.9M | $133.9M | $185.6M | $194.3M |
| Interest income | $4.4M | $6.0M | $5.3M | $596,000 | $68,000 | $98,000 | $715,000 | $1.1M | $1.2M | $1.2M |
| Interest expense | — | — | — | $596,000 | $506,000 | $682,000 | $841,000 | $0 | $0 | $0 |
| Income before taxes | $285.9M | $266.8M | $213.7M | $158.1M | $134.1M | $113.8M | $116.1M | $136.2M | $184.8M | $196.1M |
| Income taxes | $65.9M | $48.5M | $37.1M | $29.2M | $23.6M | $26.5M | $30.3M | $31.5M | $68.4M | $71.9M |
| Net income | $219.9M | $218.4M | $176.6M | $129.0M | $110.5M | $87.2M | $85.8M | $104.7M | $116.5M | $124.2M |
| EBITDA | $292.2M | $273.1M | $219.4M | $164.8M | $142.0M | $123.0M | $123.9M | $142.5M | $197.6M | $203.4M |
| EPS (diluted) | $5.07 | $4.73 | $3.76 | $2.76 | $2.23 | $1.76 | $1.74 | $1.79 | $1.88 | $1.87 |
| Gross margin | 55.7% | 54.2% | 53.0% | 52.4% | 53.9% | 52.4% | 52.6% | 55.4% | 57.1% | 57.2% |
| Operating margin | 26.1% | 25.1% | 22.6% | 19.9% | 20.2% | 19.5% | 18.8% | 23.9% | 31.2% | 32.1% |
| Net margin | 20.3% | 20.9% | 19.0% | 16.8% | 16.6% | 14.9% | 13.9% | 18.7% | 19.6% | 20.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $297.8M | $282.2M | $270.4M | $275.8M | $272.4M | $262.8M | $255.8M | $266.7M | $265.3M | $254.6M | $238.3M | $238.4M |
| Cost of revenue | $139.4M | $126.6M | $123.3M | $121.5M | $117.8M | $114.6M | $114.6M | $120.3M | $121.5M | $120.8M | $108.2M | $111.4M |
| Gross profit | $158.4M | $155.6M | $147.1M | $154.3M | $154.6M | $148.2M | $141.2M | $146.3M | $143.8M | $133.8M | $130.0M | $127.0M |
| Research & development | $34.8M | $37.3M | $38.5M | $36.4M | $34.9M | $35.3M | $33.0M | $34.3M | $35.3M | $35.0M | $31.3M | $33.1M |
| Sales, general & admin | $57.4M | $51.5M | $41.6M | $42.1M | $46.0M | $45.3M | $47.5M | $36.9M | $40.3M | $41.1M | $39.8M | $39.0M |
| Total operating expenses | $92.2M | $90.6M | $80.1M | $78.5M | $80.8M | $85.0M | $80.5M | $71.2M | $75.6M | $76.1M | $71.2M | $73.6M |
| Operating income | $66.2M | $64.9M | $67.0M | $75.8M | $73.8M | $63.2M | $60.7M | $75.1M | $68.2M | $57.6M | $58.9M | $53.4M |
| Interest income | $753,000 | — | — | — | $852,000 | — | — | — | — | — | — | $1.4M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $667,000 | — |
| Income before taxes | $67.2M | $69.3M | $68.5M | $78.4M | $74.5M | $64.5M | $62.7M | $76.4M | $69.1M | $58.6M | $59.7M | $55.2M |
| Income taxes | $16.9M | $20.0M | $16.5M | $19.8M | $17.7M | $11.9M | $14.7M | $12.6M | $16.3M | $4.8M | $11.0M | $5.8M |
| Net income | $50.4M | $49.3M | $52.0M | $58.6M | $56.8M | $52.6M | $48.0M | $63.8M | $52.8M | $53.8M | $48.7M | $49.4M |
| EBITDA | $68.8M | $71.1M | $70.0M | $80.1M | $76.1M | $67.6M | $64.3M | $78.1M | $70.6M | $60.1M | $61.2M | $56.6M |
| EPS (diluted) | $0.96 | $1.24 | $1.21 | $1.36 | $1.31 | $1.19 | $1.17 | $1.35 | $1.18 | $1.03 | $1.03 | $1.05 |
| Gross margin | 53.2% | 55.1% | 54.4% | 56.0% | 56.8% | 56.4% | 55.2% | 54.9% | 54.2% | 52.6% | 54.6% | 53.3% |
| Operating margin | 22.2% | 23.0% | 24.8% | 27.5% | 27.1% | 24.0% | 23.7% | 28.2% | 25.7% | 22.6% | 24.7% | 22.4% |
| Net margin | 16.9% | 17.5% | 19.2% | 21.3% | 20.8% | 20.0% | 18.8% | 23.9% | 19.9% | 21.1% | 20.5% | 20.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MANH's financial statements (latest annual report filed February 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MANH financial results
In fiscal year 2025 (ended December 31, 2025), Manhattan Associates reported revenue of $1.1 billion, up 3.7% from the year before. It had net income of $219.9 million (up 0.7%), a net profit margin of 20.3%. Diluted earnings per share came to $5.07. Over five years revenue grew at an average rate of 13.0% a year.
See the MANH stock overview for the latest quote and news, or the MANH chart for price history and technical indicators.
MANH income statement FAQ
What is Manhattan Associates's annual revenue?
Manhattan Associates reported total revenue of $1.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.7% from $1.0 billion the previous year.
Is Manhattan Associates profitable?
Yes. Manhattan Associates reported net income of $219.9 million in fiscal 2025, a net profit margin of 20.3%; its operating margin was 26.1%.
What is Manhattan Associates's gross margin?
Manhattan Associates's gross margin was 55.7% in fiscal 2025: for every $100 of revenue, Manhattan Associates kept $56 after the direct cost of its products and services.
How much does Manhattan Associates spend on research and development?
Manhattan Associates spent $145.1 million on research and development in fiscal 2025, 13.4% of revenue.
How fast is Manhattan Associates growing?
Revenue grew 13.0% a year on average over the last five fiscal years, from $586.4 million to $1.1 billion.
What are Manhattan Associates's earnings per share?
Manhattan Associates earned $5.07 per diluted share in fiscal 2025, compared with $4.73 a year earlier.
When will Manhattan Associates report its next earnings?
Manhattan Associates is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Manhattan Associates's fiscal year end?
Manhattan Associates's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 4, 2026.