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# Manhattan Associates Cloud Sales Draw Level With Services At $134.4 Million As Revenue Clears $300 Million
- URL: https://www.bullished.co/manhattan-associates-cloud-sales-draw-level-with-services-at-134-4-million-as-revenue-d8572030/
- Published: 2026-10-27T21:11:11.000Z
- Updated: 2026-10-27T21:11:11.000Z
- Description: The supply chain software maker also added a former Salesforce CIO to its board and adopted bylaws that limit shareholder suits.
- Author: Matteo Parrino
- Tags: SEC Filings, MANH, Industry: Technology

Manhattan Associates, which sells supply chain and omnichannel commerce software, said cloud subscription revenue hit [$134.4 million](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-ex99%5F1.htm?ref=bullished.co) in the third quarter, edging past services revenue for the first time in a quarter the company flagged as a milestone. Total quarterly revenue reached $306.2 million, up from $275.8 million a year earlier, according to an [8-K filed Tuesday](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-20261027.htm?ref=bullished.co).

## Cloud catches services

Cloud subscription revenue rose from $104.9 million a year earlier. Services revenue was $134.4 million against $133.0 million. CEO Eric Clark said the company posted "another record bookings quarter" and called the cloud-over-services crossover and the $300 million revenue mark two milestones.

Adjusted diluted earnings per share, a measure that excludes stock compensation and other items, were $1.55 against $1.36\. Standard-accounting diluted EPS were $1.04 against $0.96\. Adjusted operating income was $115.2 million, up from $103.4 million.

Clark added: "While macroeconomic headwinds persist, Manhattan's business fundamentals are solid."

## Backlog up, cash flow down

Remaining performance obligations, the contracted subscription revenue not yet recognized, rose to $2.59 billion at September 30 from $2.47 billion at June 30\. The company said the figure rose 25% from a year earlier.

Cash flow from operations fell to $68.6 million from $93.1 million. Days sales outstanding, a measure of how long customers take to pay, rose to 81 days from 67 at June 30, which the company attributed mainly to heavier billing in the quarter's last month.

Manhattan repurchased 244,748 shares for $50.0 million in the quarter. In March its board lifted buyback authority from $100 million to $500 million, and about $175.0 million remained at quarter-end. For the full year, it guided to revenue of $1,176 million to $1,178 million and adjusted EPS of $5.54 to $5.56.

## A new director and tighter suit rules

The board elected Juan Perez, most recently Salesforce's executive vice president and chief information officer, [as a Class III director](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-ex99%5F2.htm?ref=bullished.co). His service is expected to begin January 28, 2027\. He previously spent more than 30 years at UPS and sits on the boards of Wabtec, AIG and Nexcess.

On October 22, the board also adopted bylaw amendments. Under them, a shareholder must have owned at least 1% of the company's shares when the alleged act occurred to bring a derivative suit, one filed on the company's behalf. Internal entity claims must go to the Georgia State-wide Business Court, and Securities Act claims to federal district court.

Manhattan held its conference call on the year and next quarter Tuesday at 4:30 p.m. Eastern.

### Sources

- [8-K Filing — MANHATTAN ASSOCIATES INC (MANH)](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-20261027.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit manh-ex99\_1.htm — MANHATTAN ASSOCIATES INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit manh-ex99\_2.htm — MANHATTAN ASSOCIATES INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001056696/000119312526434178/manh-ex99%5F2.htm?ref=bullished.co) — SEC EDGAR