Open Text

Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions. It also offers consulting, managed, and learning services. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.

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Security by design is a proactive approach to the ever-changing threat landscape – learn more at the inaugural OpenText Security Summit 2024 on February 6   WATERLOO, ON , Feb. 5, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the second generation of its advanced cybersecurity auditing technology debuting at the inaugural OpenText Security Summit 2024 on February 6. Today's developers are dealing with more complexity and threats in multi-cloud environments.

OpenText Takes Code Security to the Next Level with Innovative use of Machine Learning

Mark Barrenechea, CEO & CTO of OpenText, to deliver keynote about evolving cybersecurity measures and AI technology WATERLOO, Ontario , Feb. 2, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the inaugural OpenText Security Summit 2024 on February 6. Attendees will see OpenText security solutions in action through a mix of product demos, deep dives and informative discussions designed to elevate a company's security posture and resilience.

Media Alert: OpenText Shares How Businesses Can Elevate Their Security Posture with AI at the OpenText Security Summit on February 6

Open Text Corporation (OTEX) Q2 2024 Earnings Call Transcript

Record Total Revenues of $1.535 billion Up 71% Y/Y Record Enterprise Cloud Bookings Fiscal 2024 Second Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported ConstantCurrency Reported ConstantCurrency Reported ConstantCurrency $1,535 $1,509 $1,146 $1,128 $450 $446 +71.0 % +68.2 % +58.0 % +55.6 % +10.1 % +9.2 % Annual Recurring Revenues represent 75% of Total Revenues Record total revenues of $1.535 billion, up 71.0% Y/Y or up 68.2% in constant currency (CC) Annual Recurring Revenues (ARR) of $1.146 billion, up 58.0% Y/Y or up 55.6% in CC Cloud revenues of $450 million, up 10.1% Y/Y or up 9.2% in CC Record quarterly enterprise cloud bookings(1) of $236 million, up 62.8% Y/Y Operating cash flows of $351 million and free cash flows(2) of $305 million GAAP-based net income of $38 million Adjusted EBITDA(2) of $566 million, margin of 36.9% GAAP-based diluted earnings per share (EPS) of $0.14, Non-GAAP diluted EPS(2) of $1.24 Announced definitive agreement to divest the Application Modernization and Connectivity (AMC) business to Rocket Software for $2.275 billion, net proceeds to reduce debt, applied to the Acquisition Term Loan and Term Loan B WATERLOO, ON , Feb. 1, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced its financial results for the second quarter ended December 31, 2023. "OpenText demonstrated remarkable performance in the second quarter achieving record total revenues of $1.535 billion, up 71% year-over-year," said Mark J.

OpenText Reports Second Quarter Fiscal Year 2024 Financial Results

Innovations demonstrate the company's commitment to advancing its opentext.ai vision through Cloud Editions 24.1 release WATERLOO, ON , Jan. 23, 2024 /PRNewswire/ -- Today, OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, announced the release of its Cloud Editions 24.1, and with it, its latest OpenText Aviator innovations. OpenText Aviator™ powers multiple AI use cases by enabling secure information management and governance across knowledge bases without customers having to move their data.

OpenText Aviator Reimagines Work with AI

Company named a Leader for the third time WATERLOO, ON , Jan. 17, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today announced it has been named a Leader in the IDC MarketScape: Worldwide Multi-Enterprise Supply Chain Commerce Network (MSCCN) 2023 Vendor Assessment (doc #US49948423, December 2023) for the third time. According to the IDC MarketScape report, "The OpenText portfolio includes powerful AI and ML capabilities that are being integrated in Trading Grid to provide actionable insights to help optimize supply chain processes and improve business performance.

OpenText Positioned as a Leader in IDC MarketScape for Multi-Enterprise Supply Chain Commerce Networks

OpenText, in partnership with the Corporate Counsel Business Journal, reveals that 91% of general counsel cite technology as a key driver for success with AI poised to transform the legal industry WATERLOO, ON , Jan. 16, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today shared the results of a new survey that revealed the need for better adoption of legal technology innovations to support in-house general counsels' transition from their traditional role as a detached cost center to influential C-Suite strategic partner.  Developed in partnership with the Corporate Counsel Business Journal (CCBJ), The OpenText and CCBJ Modern General Counsel Survey analyzes the impact technology has on the general counsel's current role and measured the appetite for greater adoption of pioneering technologies - such as artificial intelligence (AI) - to improve workflow efficiencies and optimize legal operations for better data-informed decisions.

New Survey Reveals Growing Adoption for AI in Legal Teams

WATERLOO, Ontario , Jan. 10, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), announced today that financial results for its second quarter fiscal year 2024 will be released on Thursday, February 1, 2024, at approximately 4:00 p.m. ET. Teleconference Call Mark J.

OpenText to Report Second Quarter Fiscal Year 2024 Financial Results on Thursday, February 1, 2024

WATERLOO, ON , Jan. 8, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the strategic appointment of Denise Miura as SVP & President of OpenText Japan for the Canadian-based information management and AI company. Ms. Miura will lead a charter focused on spearheading the company's growth in the region.

OpenText appoints Denise Miura as SVP & President of OpenText Japan

Open Text recorded a Q1'24 revenue of $1.41bn, a 75% YoY increase. Open Text leverages its existing client base for integration as it expands its range of offerings in AI. Open Text's financials show superior growth capabilities and justify greater long-run growth.

Open Text Is The Ideal Play For The AI And Tech Supercycle

WATERLOO, ON, Dec. 6, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Goldy Hyder to its board of directors. Mr. Hyder is President and Chief Executive Officer of the Business Council of Canada, a non-profit, non-partisan organization composed of the chief executives and entrepreneurs of Canada's leading companies, whose members collectively employ approximately two million Canadians in every major industry.

OpenText Appoints Goldy Hyder to Board of Directors

Open Text Corporation (NASDAQ:OTEX ) Nasdaq 49th Investor Conference December 5, 2023 8:00 AM ET Company Participants Madhu Ranganathan - Chief Financial Officer Unidentified Company Representative All right, well, good afternoon. Hope everyone enjoyed lunch and the panel presentation.

Open Text Corporation (OTEX) Presents at Nasdaq 49th Investor Conference (Transcript)

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Open Text Corp.'s stock OTEX was up by 2% in premarket trading on Wednesday, a day after the company said it would sell its AMC business unit to Rocket Software Inc., a Bain Capital portfolio company, for $2.28 billion in cash. OpenText's AMC unit specializes in mainframe modernization and connectivity software for more than 10,000 customers.

Open Text selling unit to Bain Capital-backed Rocket Software for $2.28B

WALTHAM, Mass.--(BUSINESS WIRE)--Rocket Software, Inc. (“Rocket Software”), a global technology leader driving modernization for the world's largest companies, today announced it has signed a definitive agreement to acquire the Application Modernization and Connectivity business (AMC) of OpenText (NASDAQ: OTEX), (TSX: OTEX), which was formerly part of Micro Focus. The total purchase price is $2.275B. For decades, Rocket Software has been the partner solving complex IT challenges for the largest.

Rocket Software to Acquire OpenText's Application Modernization and Connectivity Business

OpenText to Focus on Cloud and AI Opportunity Within Information Management WATERLOO, ON , Nov. 28, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced that it has reached a definitive agreement to divest its AMC business to Rocket Software, Inc., a Bain Capital portfolio company ("Rocket Software"), for US$2.275 billion in cash. OpenText's AMC business provides market leading mainframe modernization and connectivity software to more than 10,000 customers enabling them to run mission-critical business applications in hybrid cloud environments.

OpenText to Divest Application Modernization and Connectivity (AMC) Business to Rocket Software for $2.275B

Open Text Corporation (NASDAQ:OTEX ) Bank of America Securities 2023 Leveraged Finance Conference Call November 28, 2023 10:50 AM ET Company Participants Harry Blount - Senior Vice President of Investor Relations Conference Call Participants Ana Goshko - Bank of America Ana Goshko Thank you for joining us at BofA's 2023 Leveraged Finance Conference. I'm Ana Goshko.

Open Text Corporation (OTEX) Bank of America Securities 2023 Leveraged Finance Conference (Transcript)

Market leadership for sixth consecutive year, strengthened by AI investments and Total Experience vision WATERLOO, ON , Nov. 16, 2023 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today announced OpenText Experience Cloud and OpenText Exstream have been named Leaders in the 2023 Aspire Leaderboard™ update, which showcases the best customer communications management (CCM) and customer experience management (CXM) software vendors. OpenText received among the strongest scores in platform strength, software capabilities, market presence, company vision and technical strategy when compared against nine other software vendors in this space.

OpenText Named a Leader in Customer Communications Management and Communications Experience Platforms in the 2023 Aspire Leaderboard

Even with this disconnect, cybersecurity spending and hiring are on the rise WATERLOO, ON , Nov. 15, 2023 /PRNewswire/ -- OpenText™  (NASDAQ: OTEX), (TSX: OTEX), today released results of its annual 2023 OpenText Cybersecurity Global Ransomware Survey. Findings show a similarity in how small-to-medium sized businesses (SMBs) and enterprises (more than 1,000 employees) think about ransomware attacks, including a disconnect about who is a target and growing concern about the use of artificial intelligence (AI) by threat actors.

OpenText Cybersecurity 2023 Global Ransomware Survey: Companies Still Don't Believe They are Targets for Ransomware Attacks

Capgemini Press contact: Saheli Chakraborty Tel.: +7015531783 E-mail: saheli.chakraborty@capgemini.com Open Text Press contact: Brad Thomas Tel.

77% of organizations are investing in artificial intelligence solutions to bolster their Quality Engineering

Open Text Corporation (NASDAQ:OTEX ) Q1 2024 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Harry Blount - Senior Vice President of Investor Relations Mark Barrenechea - CEO and CTO Madhu Ranganathan - Executive Vice President and CFO Paul Duggan - Executive Vice President and Chief Customer Officer Conference Call Participants Richard Tse - National Bank Financial Thanos Moschopoulos - BMO Capital Markets Paul Treiber - RBC Capital Markets Kevin Krishnaratne - Scotiabank Stephanie Price - CIBC Adhir Kadve - Eight Capital Daniel Chan - TD Cowen Operator Thank you for standing by. This is the conference operator.

Open Text Corporation's (OTEX) Q1 2024 Earnings Call Transcript

Record Q1 Total Revenues, Cloud Revenues and ARR Fiscal 2024 First Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported ConstantCurrency Reported ConstantCurrency Reported ConstantCurrency $1,425 $1,410 $1,149 $1,137 $451 $449 +67.3 % +65.4 % +59.1 % +57.5 % +11.5 % +10.9 % Annual Recurring Revenues represent 81% of Total Revenues   Total revenues of $1.425 billion, up 67.3% Y/Y or up 65.4% in constant currency (CC) Annual recurring revenues (ARR) of $1,149 million, up 59.1% Y/Y or up 57.5% in CC Cloud revenues of $451 million, up 11.5% Y/Y or up 10.9% in CC Quarterly enterprise cloud bookings(1) of $121 million, up 8.2% Y/Y Operating cash flows were $47 million and free cash flows(3) were $10 million GAAP-based net income of $81 million Adjusted EBITDA(2) of $495 million, margin of 34.7% GAAP-based diluted earnings per share (EPS) of $0.30, Non-GAAP diluted EPS(2) of $1.01 WATERLOO, ON , Nov. 2, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced its financial results for the first quarter ended September 30, 2023. "OpenText executed extremely well in a volatile world with record Q1 revenues of $1.425 billion and 67% growth year-over-year.

OpenText Reports First Quarter Fiscal Year 2024 Financial Results

While average ransomware payments are up, the percentage of people who pay is at an all-time low WATERLOO, ON , Oct. 25, 2023 /PRNewswire/ -- OpenText (NASDAQ: OTEX), (TSX: OTEX), today announced the Nastiest Malware of 2023, an annual ranking of the year's biggest malware threats. For six consecutive years OpenText Cybersecurity threat intelligence experts have analyzed the threat landscape to determine the most notorious malware trends.

OpenText Cybersecurity Nastiest Malware of 2023 Shows Ransomware-as-a-Service Now Primary Business Model

Company introduces OpenText Aviator AI capabilities in Cloud Editions 23.4 WATERLOO, ON , Oct. 11, 2023 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today announced the latest release of its Cloud Editions (CE) 23.4, which includes OpenText Aviator artificial intelligence (AI) capabilities that carry through the company's innovation roadmap. For over a decade, OpenText has been helping organizations manage and secure large complex data sets from IoT and robotics, to natural language processing, to complex systems and generative AI.

OpenText AI Enables Smarter Organizations

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