Description

Manhattan Associates: A 24% RPO Reality Check On Future Growth Visibility!

Manhattan Associates reported first quarter 2026 results reflecting growth and progress amid a volatile global macroeconomic environment. Total revenue reached $282 million, marking a 7% increase year-over-year, with cloud revenue rising 24% to $117 million. When adjusted for license and maintenance revenue attrition linked to the ongoing cloud transition, total revenue growth was 13%. Services revenue also improved by 4% to $126 million. The reported revenue gains were partially supported by favorable foreign exchange rates, which provided a 2-percentage-point tailwind on total revenue and slightly more than 1% tailwind on cloud revenue for the quarter. The company’s remaining performance obligations (RPO) expanded 24% year-over-year to $2.35 billion, reflecting a combination of strong new sales and renewals. Notably, over 55% of new cloud bookings came from net new logos, supported by contributions from diverse products beyond the core Active Warehouse, including Active Omni, Active Transportation, and Active Planning.