What Manhattan Associates, Inc. told the SEC could break it.

Manhattan Associates' international sales face foreign-law compliance, import/export restrictions and tariffs, adverse tax treatment and weaker IP protection, plus geopolitical risk (wars in Ukraine and the Middle East, sanctions); tax-law/rate changes could also materially affect financial results.

“International sales are subject to many risks and difficulties, including those arising from complying with a variety of foreign laws, import and export restrictions and tariffs, reduced protection for intellectual property rights in some countries, potential adverse tax treatment, less stringent adherence to ethical and legal standards by prospective customers in some countries, language and cultural barriers and political and economic instability.”

Approximately 35% of Manhattan Associates' 2025 revenue was international (offices across Europe, Asia-Pacific and the Americas, with R&D concentrated in India), exposing it to currency-exchange-rate fluctuations and international-market risks including foreign laws, import/export restrictions, tariffs and weaker IP protection.

“Our international revenue was approximately $373.5 million and $346.2 million for the years ended December 2025 and 2024, respectively, which represents approximately 35%, and 33% of our total revenue for the years ended December 2025 and 2024, respectively.”

Manhattan Associates' results depend on overall demand for enterprise supply-chain/commerce software and services, which can be pressured by governmental budgetary constraints, potential US federal shutdowns or shifts in government spending, geopolitical developments and currency moves — macroeconomic weakness in the US, Europe and parts of Asia/South America could negatively affect its business.

“overall demand for enterprise software and services; governmental policy, budgetary constraints, potential U.S. federal government shutdowns or shifts in government spending priorities; general geo-political developments, including political instability, economic sanctions, terrorist activities or international conflicts, such as the wars in Ukraine and the Middle East; and currency exchange rate fluctuations.”