Earnings release
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Manhattan Associates Reports Third Quarter Results October 27, 2026 8:05 PM EDT Cloud Revenue Increased 28% over Prior Year RPO Increased 25% over Prior Year ATLANTA--(BUSINESS WIRE)--Oct. 27, 2026-- Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates, Inc. (NASDAQ: MANH) today reported revenue of $306.2 million for the third quarter ended September 30, 2026, compared to $275.8 million in Q3 2025. GAAP diluted earnings per share for Q3 2026 was $1.04 compared to $0.96 in Q3 2025. Non-GAAP adjusted diluted earnings per share for Q3 2026 was $1.55 compared to $1.36 in Q3 2025. "Manhattan delivered record Q3 and year-to-date results. On strong demand we posted another record bookings quarter and achieved two milestones. Cloud revenue surpassed services revenue and total quarterly revenue exceeded $300 million,” said Manhattan Associates President and CEO Eric Clark. “While macroeconomic headwinds persist, Manhattan’s business fundamentals are solid. Powered by market-leading solutions and targeted go-to- market investments, we continue to deliver industry-leading levels of customer success alongside strong financial performance that included acceleration across key metrics in the quarter,” Mr. Clark concluded. THIRD QUARTER 2026 FINANCIAL SUMMARY: Consolidated total revenue was $306.2 million for Q3 2026, compared to $275.8 million for Q3 2025. Cloud subscription revenue was $134.4 million for Q3 2026, compared to $104.9 million for Q3 2025. Services revenue was $134.4 million for Q3 2026, compared to $133.0 million for Q3 2025. GAAP diluted earnings per share was $1.04 for Q3 2026, compared to $0.96 for Q3 2025. Adjusted diluted earnings per share, a non-GAAP measure, was $1.55 for Q3 2026, compared to $1.36 for Q3 2025. GAAP operating income was $81.0 million for Q3 2026, compared to $75.8 million for Q3 2025. Adjusted operating income, a non-GAAP measure, was $115.2 million for Q3 2026, compared to $103.4 million for Q3 2025. Cash flow from operations was $68.6 million for Q3 2026, compared to $93.1 million for Q3 2025. Days Sales Outstanding was 81 days at September 30, 2026, compared to 67 days at June 30, 2026, primarily driven by an increase in billing in the last month of the current quarter. Cash totaled $199.4 million at September 30, 2026, compared to $186.1 million at June 30, 2026. RPO increased to $2.59 billion as of September 30, 2026, compared to $2.47 billion as of June 30, 2026. During the three months ended September 30, 2026, Manhattan repurchased 244,748 shares of its common stock under the share repurchase program authorized by our Board of Directors for a total investment of $50.0 million. In March 2026, our Board approved an increase
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to Manhattan's share repurchase authority from $100 million to $500 million. As of the end of the quarter, approximately $175.0 million remained under the existing March 2026 repurchase authority. NINE MONTH 2026 FINANCIAL SUMMARY: Consolidated total revenue for the nine months ended September 30, 2026, was $886.2 million, compared to $811.0 million for the nine months ended September 30, 2025. Cloud subscription revenue was $378.3 million for the nine months ended September 30, 2026, compared to $299.6 million for the nine months ended September 30, 2025. Services revenue was $393.2 million for the nine months ended September 30, 2026, compared to $383.0 million for the nine months ended September 30, 2025. GAAP diluted earnings per share for the nine months ended September 30, 2026, was $2.72, compared to $2.75 for the nine months ended September 30, 2025. Adjusted diluted earnings per share, a non-GAAP measure, was $4.18 for the nine months ended September 30, 2026, compared to $3.85 for the nine months ended September 30, 2025. GAAP operating income was $212.2 million for the nine months ended September 30, 2026, compared to $212.8 million for the nine months ended September 30, 2025. Adjusted operating income, a non-GAAP measure, was $310.5 million for the nine months ended September 30, 2026, compared to $295.7 million for the nine months ended September 30, 2025. Cash flow from operations was $243.3 million for the nine months ended September 30, 2026, compared to $242.4 million for the nine months ended September 30, 2025. During the nine months ended September 30, 2026, Manhattan repurchased 2,162,089 shares of its common stock under the share repurchase program authorized by our Board of Directors, for a total investment of $325.0 million. In March 2026, our Board approved an increase to Manhattan's share repurchase authority from $100 million to $500 million. As of the end of the quarter, approximately $175.0 million remained under the existing March 2026 repurchase authority. 2026 GUIDANCE Manhattan provides the following revenue, operating margin, and diluted earnings per share guidance for the full year 2026: Guidance Range - 2026 Full Year ($'s in millions, except operating margin and EPS) $ Range % Growth Range Total revenue $1,176 $1,178 9% 9% Operating Margin: GAAP operating margin 24.1% 24.3% Equity-based compensation 10.4% 10.4% Restructuring expense (3) 0.7% 0.7% Adjusted operating margin(1) 35.2% 35.4% Diluted earnings per share (EPS): GAAP EPS $3.62 $3.64 1% 1% Equity-based compensation 1.79 1.79 Tax deficiency of stock awards vested (2) 0.03 0.03 Restructuring expense (3) 0.11 0.11 Adjusted EPS(1) $5.54 $5.56 9% 10% (1) Adjusted operating margin and adjusted EPS are non-GAAP measures that exclude the impact of equity-based compensation, expense related to an unusual health insurance claim, restructuring expense, and the related income tax effects, if applicable. (2) The tax deficiency (benefit) on stock vesting occurred primarily in the first quarter of 2026.
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(3) On June 1, 2026, we reduced our global headcount by approximately 6%, leveraging increased operational efficiencies and allowing us to focus investments on key strategic priorities. We recorded pre-tax restructuring expense in the second quarter of 2026 and exclude the amount from adjusted non-GAAP results. Manhattan 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 will make this earnings release and a recording of the conference call referenced below available on the investor relations section of our 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 disclaims any obligation to update them. CONFERENCE CALL Manhattan’s conference call regarding its third quarter financial results will be held today, October 27, 2026, at 4:30 p.m. Eastern Time. We also will discuss our 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 our 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’ fourth quarter 2026 earnings release. GAAP VERSUS NON-GAAP PRESENTATION Manhattan 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 our 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. Manhattan believes the presentation of these non-GAAP financial measures facilitates investors’ ability to understand and compare our results and guidance, because the measures provide supplemental information in evaluating the operating results of our business, as distinct from results that include items not indicative of ongoing operating results, and because we believe our peers typically publish similar non-GAAP measures. This release should be read in conjunction with Manhattan's Form 8-K earnings release filing for the three and nine months ended September 30, 2026. 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 Manhattan'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, providing supply chain and omnichannel commerce solutions with unmatched AI capabilities. We design, build, and offer best-in-class, AI-powered, cloud-based solutions that drive resilience and efficiency for businesses. We enable enterprises to uniquely unify front-end sales with back-end supply chain execution. Our commitment to innovation, cloud-native platform, and API-first architecture create simpler experiences and faster paths to value for our customers. We empower them to preempt and react to emerging trends and global disruptions with technical expertise and operational confidence, transforming challenges into competitive advantage. 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 as a result of global instability due to military conflict, including the military conflict involving the United States, Israel, and Iran, as well as the ongoing war between Russia and Ukraine, 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; and the other risk factors set forth in Item 1A of Manhattan's Annual Report on Form 10-K for the year ended December 31, 2025, and in Item 1A of Part II in subsequent Quarterly Reports on Form 10-Q. Manhattan 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 September 30, Nine Months Ended September 30, 2026 2025 2026 2025 (unaudited) (unaudited) (unaudited) (unaudited) Revenue: Cloud subscriptions $134,438 $104,852 $378,283 $299,580 Software license 3,634 1,356 7,791 12,176 Maintenance 29,229 30,492 90,344 97,693 Services 134,417 133,007 393,181 383,033 Hardware 4,469 6,088 16,597 18,521 Total revenue 306,187 275,795 886,196 811,003
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Costs and expenses: Cost of cloud subscriptions, maintenance and services 131,257 119,604 386,241 349,883 Cost of software license 633 208 1,753 711 Research and development 35,543 36,360 107,654 106,529 Sales and marketing 26,784 18,057 85,235 59,097 General and administrative 29,258 24,078 79,705 74,273 Depreciation and amortization 1,717 1,660 5,182 4,785 Restructuring expense - - 8,263 2,937 Total costs and expenses 225,192 199,967 674,033 598,215 Operating income 80,995 75,828 212,163 212,788 Other income, net 1,888 2,604 7,208 4,656 Income before income taxes 82,883 78,432 219,371 217,444 Income tax provision 21,539 19,799 58,380 49,449 Net income $61,344 $58,633 $160,991 $167,995 Basic earnings per share $1.05 $0.97 $2.73 $2.77 Diluted earnings per share $1.04 $0.96 $2.72 $2.75 Weighted average number of shares: Basic 58,207 60,381 58,880 60,620 Diluted 58,732 60,954 59,250 61,183 Reconciliation of Selected GAAP to Non-GAAP Measures (in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Operating income $80,995 $75,828 $212,163 $212,788 Equity-based compensation (a) 34,215 27,577 90,095 80,678 Unusual health insurance claim (c) - - - (658) Restructuring expense (d) - - 8,263 2,937 Adjusted operating income (Non-GAAP) $115,210 $103,405 $310,521 $295,745 Income tax provision $21,539 $19,799 $58,380 $49,449 Equity-based compensation (a) 4,245 3,253 12,125 10,749 Tax benefit (deficiency) of stock awards vested (b) 15 321 (2,301) 3,924 Unusual health insurance claim (c) - - - (159) Restructuring expense (d) - - 2,041 708 Adjusted income tax provision (Non-GAAP) $25,799 $23,373 $70,245 $64,671 Net income $61,344 $58,633 $160,991 $167,995 Equity-based compensation (a) 29,970 24,324 77,970 69,929 Tax (benefit) deficiency of stock awards vested (b) (15) (321) 2,301 (3,924) Unusual health insurance claim (c) - - - (499) Restructuring expense (d) - - 6,222 2,229 Adjusted net income (Non-GAAP) $91,299 $82,636 $247,484 $235,730 Diluted EPS $1.04 $0.96 $2.72 $2.75 Equity-based compensation (a) 0.51 0.40 1.32 1.14 Tax deficiency (benefit) of stock awards vested (b) - (0.01) 0.04 (0.06) Unusual health insurance claim (c) - - - (0.01) Restructuring expense (d) - - 0.11 0.04 Adjusted diluted EPS (Non-GAAP) $1.55 $1.36 $4.18 $3.85 Fully diluted shares 58,732 60,954 59,250 61,183 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 September 30, Nine Months Ended September 30, 2026 2025 2026 2025
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Cost of services $12,553 $11,417 $35,118 $33,355 Research and development 7,490 6,216 19,871 17,848 Sales and marketing 3,828 2,267 10,792 5,694 General and administrative 10,344 7,677 24,314 23,781 Total equity-based compensation $34,215 $27,577 $90,095 $80,678 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) Restructuring expense primarily consists of employee severance and outplacement services. On June 1, 2026, we reduced our global headcount by approximately 6% and recorded pre-tax restructuring expense in the second quarter of 2026 of approximately $8.3 million. In January 2025, we eliminated about 100 positions and recorded pre-tax restructuring expense in the first quarter of 2025 of approximately $2.9 million. We excluded these costs for adjusted non-GAAP results to facilitate period-to-period comparability of operating performance. MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except share and per share data) September 30, 2026 December 31, 2025 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 199,449 $ 328,747 Accounts receivable, net 268,110 214,679 Prepaid expenses and other current assets 45,340 39,912 Total current assets 512,899 583,338 Property and equipment, net 23,823 23,120 Operating lease right-of-use assets 44,435 50,443 Goodwill, net 62,239 62,244 Deferred income taxes 58,608 75,900 Other assets 48,809 44,343 Total assets $ 750,813 $ 839,388 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 22,118 $ 22,182 Accrued compensation and benefits 76,739 69,309 Accrued and other liabilities 32,877 26,570 Deferred revenue 348,090 337,049 Income taxes payable 271 803 Total current liabilities 480,095 455,913 Operating lease liabilities, long-term 51,744 56,180 Other non-current liabilities 18,231 12,530 Shareholders' equity: Preferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding in 2026 and 2025 - - Common stock, $0.01 par value; 200,000,000 shares authorized; 58,061,274 and 59,845,291 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 581 598 Retained earnings 238,568 345,097 Accumulated other comprehensive loss (38,406) (30,930) Total shareholders' equity 200,743 314,765 Total liabilities and shareholders' equity $ 750,813 $ 839,388
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MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (in thousands) Nine Months Ended September 30, 2026 2025 (unaudited) (unaudited) Operating activities: Net income $ 160,991 $ 167,995 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 5,182 4,785 Equity-based compensation 90,095 80,678 Gain on disposal of equipment (162) (22) Deferred income taxes 16,871 17,946 Unrealized foreign currency loss 1,909 246 Changes in operating assets and liabilities: Accounts receivable, net (54,863) (8,865) Other assets (13,040) (4,311) Accounts payable, accrued and other liabilities 16,066 (18,463) Income taxes 2,059 (9,840) Deferred revenue 18,206 12,271 Net cash provided by operating activities 243,314 242,420 Investing activities: Purchase of property and equipment (6,099) (10,799) Net cash used in investing activities (6,099) (10,799) Financing activities: Repurchase of common stock (356,929) (238,187) Net cash used in financing activities (356,929) (238,187) Foreign currency impact on cash (9,584) 3,891 Net change in cash and cash equivalents (129,298) (2,675) Cash and cash equivalents at beginning of period 328,747 266,230 Cash and cash equivalents at end of period $ 199,449 $ 263,555 MANHATTAN ASSOCIATES, INC. SUPPLEMENTAL INFORMATION 1. GAAP and adjusted earnings per share by quarter are as follows: 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD GAAP Diluted EPS $0.85 $0.93 $0.96 $0.86 $3.60 $0.82 $0.85 $1.04 $2.72 Adjustments to GAAP: Equity-based compensation 0.40 0.35 0.40 0.43 1.57 0.38 0.43 0.51 1.32 Tax (benefit) deficiency of stock awards vested (0.06) - (0.01) - (0.06) 0.04 - - 0.04 Unusual health insurance claim (0.05) 0.04 - (0.08) (0.09) - - - - Restructuring expense 0.04 - - - 0.04 - 0.11 - 0.11 Adjusted Diluted EPS $1.19 $1.31 $1.36 $1.21 $5.06 $1.24 $1.39 $1.55 $4.18 Fully Diluted Shares 61,527 61,074 60,954 60,642 61,054 60,038 58,997 58,732 59,250 2. Revenues and operating income by reportable segment are as follows (in thousands): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Revenue: Americas $194,615 $206,606 $206,659 $202,546 $810,426 $214,550 $227,012 $233,165 $674,727 EMEA 55,542 52,301 53,975 53,978 215,796 53,663 55,378 56,916 165,957 APAC 12,630 13,514 15,161 13,865 55,170 14,002 15,404 16,106 45,512 $262,787 $272,421 $275,795 $270,389 $1,081,392 $282,215 $297,794 $306,187 $886,196
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GAAP Operating Income: Americas $33,862 $48,051 $45,783 $39,875 $167,571 $39,005 $41,336 $49,793 $130,134 EMEA 23,703 19,807 22,877 21,686 88,073 19,670 18,122 23,729 61,521 APAC 5,607 5,930 7,168 5,451 24,156 6,262 6,773 7,473 20,508 $63,172 $73,788 $75,828 $67,012 $279,800 $64,937 $66,231 $80,995 $212,163 Adjustments (pre-tax): Americas: Equity-based compensation $28,826 $24,275 $27,577 $30,585 $111,263 $26,524 $29,356 $34,215 $90,095 Unusual health insurance claim (3,658) 3,000 - (6,224) (6,882) - - - - Restructuring expense 2,929 8 - - 2,937 - 5,637 - 5,637 $28,097 $27,283 $27,577 $24,361 $107,318 $26,524 $34,993 $34,215 $95,732 EMEA: Restructuring expense - - - - - - 2,346 - 2,346 APAC: Restructuring expense - - - - - - 280 - 280 Adjusted non-GAAP Operating Income: Americas $61,959 $75,334 $73,360 $64,236 $274,889 $65,529 $76,329 $84,008 $225,866 EMEA 23,703 19,807 22,877 21,686 88,073 19,670 20,468 23,729 63,867 APAC 5,607 5,930 7,168 5,451 24,156 6,262 7,053 7,473 20,788 $91,269 $101,071 $103,405 $91,373 $387,118 $91,461 $103,850 $115,210 $310,521 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): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Revenue $(1,591) $2,724 $2,652 $3,833 $7,618 $5,975 $2,027 $118 $8,120 Costs and expenses (1,966) 1,180 738 906 858 2,646 (1,113) (1,777) (244) Operating income 375 1,544 1,914 2,927 6,760 3,329 3,140 1,895 8,364 Foreign currency gains (losses) in other income 131 (65) 1,597 9 1,672 3,229 217 1,130 4,576 $506 $1,479 $3,511 $2,936 $8,432 $6,558 $3,357 $3,025 $12,940 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): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Operating income $785 $514 $832 $1,409 $3,540 $1,045 $2,235 $1,775 $5,055 Foreign currency gains (losses) in other income 15 140 1,978 742 2,875 3,449 730 1,097 5,276 Total impact of changes in the Indian Rupee $800 $654 $2,810 $2,151 $6,415 $4,494 $2,965 $2,872 $10,331 4. Other income includes the following components (in thousands): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Interest income $1,101 $852 $1,007 $1,429 $4,389 $951 $753 $758 $2,462 Foreign currency gains (losses) 131 (65) 1,597 9 1,672 3,229 217 1,130 4,576 Other non-operating income (expense) 106 (72) - (1) 33 157 13 - 170 Total other income (loss) $1,338 $715 $2,604 $1,437 $6,094 $4,337 $983 $1,888 $7,208 5. Capital expenditures are as follows (in thousands): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Capital expenditures $891 $3,980 $5,928 $4,658 $15,457 $4,103 $1,005 $991 $6,099 6. Stock Repurchase Activity (in thousands):
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2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr 3rd Qtr YTD Shares purchased under publicly-announced buy-back program 539 263 233 416 1,451 1,043 874 245 2,162 Shares withheld for taxes due upon vesting of restricted stock 179 3 8 2 192 198 1 2 201 Total shares purchased 718 266 241 418 1,643 1,241 875 247 2,363 Total cash paid for shares purchased under publicly- announced buy-back program $100,000 $49,596 $49,947 $74,996 $274,539 $149,983 $125,000 $49,999 $324,982 Total cash paid for shares withheld for taxes due upon vesting of restricted stock 36,447 595 1,602 398 39,042 29,404 105 454 29,963 Total cash paid for excise tax - - - 1,581 1,581 - 1,984 - 1,984 Total cash paid for shares repurchased $136,447 $50,191 $51,549 $76,975 $315,162 $179,387 $127,089 $50,453 $356,929 7. Remaining Performance Obligations We disclose revenue that we expect to recognize from our remaining performance obligations ("RPO"). Over 99% 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, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Remaining Performance Obligations $1,891,384 $2,013,495 $2,076,628 $2,232,234 $2,347,952 $2,473,753 $2,589,654 View source version on businesswire.com: https://www.businesswire.com/news/home/20261027882442/en/ Michael Bauer VP, Investor Relations Manhattan Associates, Inc. 678-597-7538 mbauer@manh.com Devika Goel Director, Corporate Communications & PR Manhattan Associates, Inc. 678-597-6754 dgoel@manh.com Source: Manhattan Associates, Inc.