Shares of Manhattan Associates surged 26.70% in Wednesday morning trading, climbing $44.90 to $213.07, after the supply chain software company reported record second-quarter results driven by strong growth in its cloud subscription business.

The Atlanta-based company reported second-quarter revenue of $297.8 million, up 9.3% from $272.4 million in the same period a year earlier and ahead of the consensus analyst estimate of roughly $293.7 million. Cloud subscription revenue, the segment investors have watched most closely as a signal of the company's transition away from legacy licensing and services, climbed 26% year over year to $126.7 million. Services revenue came in at $133.0 million for the quarter.

On the earnings side, Manhattan Associates reported non-GAAP adjusted diluted earnings per share of $1.39, topping the analyst consensus estimate of $1.34 and improving from $1.31 reported in the second quarter of 2025. GAAP diluted earnings per share, however, declined to 85 cents from 93 cents a year earlier, with net income falling to $50.4 million from $56.8 million over the same period, a divergence that reflects differences between the company's adjusted and unadjusted accounting measures.

The company's remaining performance obligations, a metric that reflects contracted future revenue not yet recognized, grew 23% year over year to........

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