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OpenText Reports Third Quarter Fiscal Year 2025 Financial Results
Announces Expansion and Final Phase of Business Optimization Plan
| Fiscal 2025 Third Quarter Highlights (in millions(1)) | ||||||||||||
| Cloud Revenues | | Profitability | | EPS | | Cash Flows | ||||||
| | Net Income | | A-EBITDA | | GAAP | | Non-GAAP | | Operating | | Free Cash Flows | |
| $463 | | $93 | | $395 | | $0.35 | | $0.82 | | $402 | | $374 |
| +1.8% Y/Y | | 7.4% margin | | 31.5% margin | | -2.8% Y/Y | | -12.8% Y/Y | | +4.6% Y/Y | | +7.4% Y/Y |
| | "On the strength of our operating model, OpenText delivered solid Q3 Cloud revenues, A-EBITDA margin and free cash flows, however, total revenues fell short of our expectations given demand volatility," said Mark J. Barrenechea, OpenText CEO & CTO. "While every organization is managing significant uncertainty, we continue to prove the criticality of OpenText products and the resiliency of our business model, as we support customers in all industries across this dynamic environment." | | ||||
| | | | | | | |
| | "We are incredibly proud to have expanded many customer relationships during the quarter, and we launched with great anticipation our new Titanium X platform (CE 25.2) that will allow customers to work in SaaS and hybrid environments, while making smarter decisions with OpenText Aviator AI," said Barrenechea. "In addition, we announced the significant final phase of our Business Optimization Plan that commenced last summer. This work is important in continuously improve our A-EBITDA margin, and allow us to reinvest for the long-term in our Aviator AI platform, Content, Security and Cloud growth products." | | ||||
| | Mark J. Barrenechea, OpenText CEO & CTO | | ||||
| | | | | | | |
| | "I am excited to have joined such an extraordinary Canadian company. There is no other Canadian software company with the breadth, depth and clear winning position particularly in AI, Content, Security and Cloud, as OpenText. We have the operational focus to generate strong long-term margin and earnings growth, while leveraging our significant cash flow generation capability to reinvest in top priority products and investor returns. The bottom line results this quarter are a great example of our resilience and consistency. It's an exceptional time for investors to participate in the earnings growth engine we're building at OpenText." | | ||||
| | Chadwick Westlake, OpenText EVP, CFO | | ||||
| | | | | | | |
WATERLOO, ON, April 30, 2025 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced its financial results for the third quarter ended March 31, 2025.
Third Quarter Financial Highlights Y/Y
- Total revenues: $1.254 billion, -13.3% Y/Y or -4.5% when adjusted for the AMC divestiture
- Annual recurring revenues (ARR): $1.030 billion, -10.1% Y/Y or -2.8% when adjusted for the AMC divestiture
- Cloud revenues: $463 million, +1.8% Y/Y, 17 consecutive quarters of cloud organic growth
- Quarterly enterprise cloud bookings(2):$151 million, -8.4% Y/Y
- Cash flows: Operating $402 million and free cash flows(3) $374 million
- Net income: GAAP $93 million, -5.6% Y/Y, Non-GAAP(3) $216 million, -16.0% Y/Y
- Adjusted EBITDA(3) of $395 million, margin of 31.5%
- Diluted earnings per share (EPS): GAAP $0.35, Non-GAAP(3) $0.82
- Returned $183 million of capital to shareholders
- Paid $68 million to shareholders through dividends
- Repurchased $115 million of common shares for cancellation
| (1) | Numbers represented are in millions of US dollars, except for per share or percentage metrics. |
| (2) | Enterprise cloud bookings is defined as the total value from cloud services and subscription contracts, entered into in the period that are new, committed and incremental to our existing contracts, entered into with our enterprise based customers. |
| (3) | Please see Note 2 "Use of Non-GAAP Financial Measures" to the condensed consolidated financial statements below. |
Financial Highlights for Q3 Fiscal 2025 with Year Over Year Comparisons
| Summary of Quarterly Results | | | | | | | |
| (In millions, except per share data) | Q3 FY'25 | Q3 FY'24 | $ Change | % Change | | Q3 FY'25 | % Change |
| Revenues: | | | | | | | |
| Cloud services and subscriptions | $463 | $455 | $8 | 1.8 % | | $468 | 3.0 % |
| Customer support | $567 | $691 | ($124) | (17.9) % | | $578 | (16.4) % |
| Total annual recurring revenues** | $1,030 | $1,146 | ($116) | (10.1) % | | $1,046 | (8.7) % |
| License | $138 | $200 | ($62) | (30.9) % | | $141 | (29.6) % |
| Professional service and other | $86 | $101 | ($15) | (14.7) % | | $88 | (12.6) % |
| Total revenues | $1,254 | $1,447 | ($193) | (13.3) % | | $1,275 | (11.9) % |
| GAAP-based operating income | $209 | $227 | ($18) | (7.9) % | | N/A | N/A |
| Non-GAAP-based operating income (1) | $363 | $432 | ($69) | (15.9) % | | $366 | (15.3) % |
| GAAP-based net income attributable to OpenText | $93 | $98 | ($5) | (5.6) % | | N/A | N/A |
| Non-GAAP-based net income attributable to OpenText (1) | $216 | $257 | ($41) | (16.0) % | | $218 | (15.1) % |
| GAAP-based EPS, diluted | $0.35 | $0.36 | ($0.01) | (2.8) % | | N/A | N/A |
| Non-GAAP-based EPS, diluted (1)(2) | $0.82 | $0.94 | ($0.12) | (12.8) % | | $0.83 | (11.7) % |
| Adjusted EBITDA (1) | $395 | $464 | ($68) | (14.8) % | | $398 | (14.2) % |
| Operating cash flows | $402 | $385 | $18 | 4.6 % | | N/A | N/A |
| Free cash flows (1) | $374 | $348 | $26 | 7.4 % | | N/A | N/A |
| | |||||||
| Summary of YTD Results | | | | | | | |
| (In millions, except per share data) | FY'25 YTD | FY'24 YTD | $ Change | % Change | | FY'25 YTD | % Change |
| Revenues: | | | | | | | |
| Cloud services and subscriptions | $1,382 | $1,356 | $26 | 1.9 % | | $1,387 | 2.3 % |
| Customer support | $1,753 | $2,085 | ($331) | (15.9) % | | $1,761 | (15.5) % |
| Total annual recurring revenues** | $3,135 | $3,441 | ($305) | (8.9) % | | $3,148 | (8.5) % |
| License | $453 | $663 | ($210) | (31.6) % | | $455 | (31.3) % |
| Professional service and other | $269 | $304 | ($35) | (11.5) % | | $270 | (11.3) % |
| Total revenues | $3,858 | $4,407 | ($550) | (12.5) % | | $3,873 | (12.1) % |
| GAAP-based operating income | $711 | $694 | $17 | 2.5 % | | N/A | N/A |
| Non-GAAP-based operating income (1) | $1,244 | $1,425 | ($181) | (12.7) % | | $1,241 | (13.0) % |
| GAAP-based net income attributable to OpenText | $407 | $217 | $190 | 87.7 % | | N/A | N/A |
| Non-GAAP-based net income attributable to OpenText (1) | $758 | $870 | ($112) | (12.9) % | | $756 | (13.1) % |
| GAAP-based EPS, diluted | $1.53 | $0.80 | $0.73 | 91.3 % | | N/A | N/A |
| Non-GAAP-based EPS, diluted (1)(2) | $2.85 | $3.19 | ($0.34) | (10.7) % | | $2.85 | (10.8) % |
| Adjusted EBITDA (1) | $1,341 | $1,525 | ($184) | (12.1) % | | $1,337 | (12.3) % |
| Operating cash flows | $672 | $782 | ($110) | (14.1) % | | N/A | N/A |
| Free cash flows (1) | $563 | $663 | ($100) | (15.0) % | | N/A | N/A |
| | |
| (1) | Please see Note 2 "Use of Non-GAAP Financial Measures" to the condensed consolidated financial statements below. |
| (2) | For periods prior to Fiscal 2025, this is reflective of the amount of net tax benefit arising from the internal reorganization assumed to be allocable to the period based on the forecasted utilization period. Please also see Note 14 to the Company's Fiscal 2018 Consolidated Financial Statements on Form 10-K. |
| | |
| Note: Items in tables may not add due to rounding. Percentages presented are calculated based on the underlying amounts. | |
| | |
| *CC: Constant currency for this purpose is defined as the current period reported revenues/expenses/earnings represented at the prior comparative period's foreign exchange rate. | |
| | |
| **Annual recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue. | |
Expansion of the Business Optimization Plan
On April 29, 2025, the Board approved an expansion of our previously announced Business Optimization Plan to complete strategic initiatives, integration and simplification following the Micro Focus acquisition, AMC divestiture and other growth and innovation plans including the deployment of AI and automation. We expect up to approximately $200 million of additional costs to be incurred to complete this final phase of the Business Optimization Plan, bringing the combined plan up to approximately $260 million. This expansion includes costs associated with workforce reduction due to automation, centralization and simplification, and corresponding facility costs related to a reduction of our real estate footprint globally. On an overall basis, the expansion is expected to result in a total net reduction of approximately 2,000 positions, an increase of approximately 1,600 positions from the previously announced plan. The expanded Business Optimization Plan along with other savings initiatives, when fully implemented, is expected to generate total annualized savings of approximately $490 million to $550 million, an increase of $340 million to $400 million on an annualized basis. Of this, approximately 50% will be realized in Fiscal 2026, with the remaining annualized benefit to be realized in Fiscal 2027.
Dividend
As part of our quarterly, non-cumulative cash dividend program, the Board declared on April 29, 2025, a cash dividend of $0.2625 per common share. The record date for this dividend is June 6, 2025 and the payment date is June 20, 2025. OpenText believes strongly in returning value to its shareholders and intends to maintain its dividend program. Any future declarations of dividends and the establishment of future record and payment dates are all subject to the final determination and discretion of the Board of Directors.
Share Repurchase
OpenText announced that in the third quarter of Fiscal 2025, it repurchased $115 million of common shares for cancellation under its share repurchase plan (the Fiscal 2025 Repurchase Plan). As of the end of the third quarter of Fiscal 2025, $266 million of common shares have been repurchased for cancellation under the Fiscal 2025 Repurchase Plan. During the fiscal quarter, OpenText also announced that it increased the authorized limit of the Fiscal 2025 Repurchase Plan by $150 million to $450 million and established an automatic share purchase plan (ASPP) with its broker to facilitate repurchases of common shares. Under the Fiscal 2025 Repurchase Plan, for the period commencing August 7, 2024 until August 6, 2025, OpenText intends to purchase for cancellation in open market transactions, from time to time, up to $450 million of its issued and outstanding common shares, subject to a maximum of 21,179,064 common shares.
Quarterly Business Highlights
- Key customer wins in the quarter include: ABN AMRO Bank, Alps Alpine North America, Avatel Telecom, Converge ICT Solutions, Criteo Technology, Fidelity National Financial, Froneri International, Japan Tobacco International (Spain), Kubus IT GbR, Leonardo UK, Pikeville Medical Center, Quantum Health, Sky Italia, SMA Solar Technology, United States Air Force.
- OpenText announced availability of Cloud Editions 25.2, formerly known as Titanium X, which brings together a comprehensive set of enterprise capabilities for process automation, data, security and AI.
- OpenText held customer summits in London and Munich, empowering businesses with the latest breakthroughs in information management and AI that are driving massive growth and productivity enhancements for the world's largest organizations.
- OpenText launched next generation OpenText Cybersecurity Cloud with AI-powered threat detection and response capabilities.
- OpenText strengthened consumer Cybersecurity portfolio delivering multiple layers of security in a single, unified platform.
| Summary of Quarterly Results | | | | | | | |
| | Q3 FY'25 | Q2 FY'25 | Q3 FY'24 | % Change (Q3 FY'25 vs | | % Change (Q3 FY'25 vs | |
| Revenue (millions) | $1,254 | $1,335 | $1,447 | (6.0) % | | (13.3) % | |
| GAAP-based gross margin | 71.6 % | 73.3 % | 73.0 % | (170) | bps | (140) | bps |
| Non-GAAP-based gross margin (1) | 75.7 % | 77.2 % | 76.7 % | (150) | bps | (100) | bps |
| GAAP-based EPS, diluted | $0.35 | $0.87 | $0.36 | (59.8) % | | (2.8) % | |
| Non-GAAP-based EPS, diluted (1)(2) | $0.82 | $1.11 | $0.94 | (26.1) % | | (12.8) % | |
| | |
| (1) | Please see Note 2 "Use of Non-GAAP Financial Measures" to the condensed consolidated financial statements below. |
| (2) | Please also see Note 14 to the Company's Fiscal 2018 Consolidated Financial Statements on Form 10-K. Reflective of the amount of net tax benefit arising from the internal reorganization assumed to be allocable to the current period based on the forecasted utilization period. |
Conference Call Information
OpenText posted an investor presentation on its Investor Relations website and invites the public to listen to the earnings conference call webcast tomorrow on Thursday, May 1, 2025 at 8:30 a.m. ET (5:30 a.m. PT) from the Investor Relations section of the Company's website at https://investors.opentext.com. To join the webcast instantly, use this webcast link. A webcast replay will be available shortly following completion of the live call.
Please see below note (2) for a reconciliation of U.S. GAAP-based financial measures used in this press release to Non-GAAP-based financial measures.
Copyright ©2025 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: https://www.opentext.com/about/copyright-information.
About OpenText
OpenText is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at https://www.opentext.com.
OTEX-F
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release, including statements about Open Text Corporation ("OpenText" or "the Company") on growth, profitability and future of Information Management, including delivering long term margin and earnings growth, reinvestment in growth products, margin improvement and efficiency; achieving total revenue growth, competitive advantage through innovation, and operational excellence through delivering upper quartile margins, free cash flow, earnings and capital return; customer benefits from products; A-EBITDA expansion; executing the Company's capital allocation strategy, including expected return to shareholders; level of performance through the fiscal year; new bookings, demand, scale and revenue growth; expansion and execution of Business Optimization Plan and other savings initiatives, including timing, costs, savings, associated benefits thereof and potential adjustments of amounts thereto; innovation fueled by cloud, AI and security technologies; executing on targets and aspirations; future acquisitions or divestitures and associated strategy; future revenues, operating expenses, margins, free cash flows, interest expense and capital expenditures; net leverage and savings targets and timing thereof; market share of our products; innovation road map; intention to maintain a dividend program, including any targeted annualized dividend; expected size and timing of the Fiscal 2025 Repurchase Plan, including execution thereof; future tax rates; renewal rates; new platform and product offerings, including reinvestment therein and associated benefits to customers; internal automation and AI leverage, including our AI strategy, vision and growth; strategy to build shareholder value; and other matters, which may contain words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", "may", "could", "would", "might", "will" and variations of these words or similar expressions are intended to identify forward-looking statements or information under applicable securities laws (forward-looking statements). In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements, and are based on our current expectations, forecasts and projections about the operating environment, economies and markets in which we operate. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management's perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, such as certain assumptions about the economy, as well as market, financial and operational assumptions. Management's estimates, beliefs and assumptions, including statements regarding future targets and aspirations, are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change and are not considered guidance. We can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Future declarations of dividends are also subject to the final determination and discretion of the Board of Directors, and an annualized dividend has not been approved or declared by the Board. Forward-looking statements involve known and unknown risks and uncertainties such as those relating to: all statements regarding the expected future financial position, results of operations, revenues, expenses, margins, cash flows, dividends, share buybacks, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth opportunities, plans and objectives of management, including any anticipated synergy benefits; incurring unanticipated costs, delays or difficulties; and our ability to develop, protect and maintain our intellectual property and proprietary technology and to operate without infringing on the proprietary rights of others. We rely on a combination of copyright, patent, trademark and trade secret laws, non-disclosure agreements and other contractual provisions to establish and maintain our proprietary rights, which are important to our success. From time to time, we may also enforce our intellectual property rights through litigation in line with our strategic and business objectives. The actual results that OpenText achieves may differ materially from any forward-looking statements. For additional information with respect to risks and other factors which could occur, see the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the Securities and Exchange Commission (SEC) and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, X, formerly known as Twitter, account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
| OPEN TEXT CORPORATION | |||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||
| (In thousands of U.S. dollars, except share data) | |||
| | |||
| | March 31, 2025 | | June 30, 2024 |
| ASSETS | (unaudited) | | |
| Cash and cash equivalents | $ 1,277,950 | | $ 1,280,662 |
| Accounts receivable trade, net of allowance for credit losses of $13,379 as of March 31, 2025 and $12,108 as of June 30, 2024 | 593,069 | | 626,189 |
| Contract assets | 70,878 | | 66,450 |
| Income taxes recoverable | 18,767 | | 61,113 |
| Prepaid expenses and other current assets | 200,969 | | 242,911 |
| Total current assets | 2,161,633 | | 2,277,325 |
| Property and equipment, net of accumulated depreciation of $806,609 as of March 31, 2025 and $751,174 as of June 30, 2024 | 367,741 | | 367,740 |
| Operating lease right of use assets | 209,121 | | 219,774 |
| Long-term contract assets | 47,961 | | 38,684 |
| Goodwill | 7,493,952 | | 7,488,367 |
| Acquired intangible assets | 2,102,476 | | 2,486,264 |
| Deferred tax assets | 1,004,429 | | 932,657 |
| Other assets | 303,124 | | 298,281 |
| Long-term income taxes recoverable | 64,389 | | 96,615 |
| Total assets | $ 13,754,826 | | $ 14,205,707 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | | | |
| Current liabilities: | | | |
| Accounts payable and accrued liabilities | $ 847,735 | | $ 931,116 |
| Current portion of long-term debt | 35,850 | | 35,850 |
| Operating lease liabilities | 75,538 | | 76,446 |
| Deferred revenues | 1,526,829 | | 1,521,416 |
| Income taxes payable | 37,231 | | 235,666 |
| Total current liabilities | 2,523,183 | | 2,800,494 |
| Long-term liabilities: | | | |
| Accrued liabilities | 42,555 | | 46,483 |
| Pension liability, net | 132,066 | | 127,255 |
| Long-term debt | 6,345,390 | | 6,356,943 |
| Long-term operating lease liabilities | 195,394 | | 218,174 |
| Long-term deferred revenues | 171,890 | | 162,401 |
| Long-term income taxes payable | 84,294 | | 145,644 |
| Deferred tax liabilities | 129,646 | | 148,632 |
| Total long-term liabilities | 7,101,235 | | 7,205,532 |
| Shareholders' equity: | | | |
| Share capital and additional paid-in capital | | | |
| 259,649,857 and 267,800,517 Common Shares issued and outstanding at March 31, 2025 and June 30, 2024, respectively; authorized Common Shares: unlimited | 2,200,012 | | 2,271,886 |
| Accumulated other comprehensive income (loss) | (75,847) | | (69,619) |
| Retained earnings | 2,082,247 | | 2,119,159 |
| Treasury stock, at cost (2,512,726 and 3,135,980 shares at March 31, 2025 and June 30, 2024, respectively) | (77,674) | | (123,268) |
| Total OpenText shareholders' equity | 4,128,738 | | 4,198,158 |
| Non-controlling interests | 1,670 | | 1,523 |
| Total shareholders' equity | 4,130,408 | | 4,199,681 |
| Total liabilities and shareholders' equity | $ 13,754,826 | | $ 14,205,707 |
| OPEN TEXT CORPORATION | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||
| (In thousands of U.S. dollars, except share and per share data) | |||||||
| (unaudited) | |||||||
| | |||||||
| | Three Months Ended March 31, | | Nine Months Ended March 31, | ||||
| | 2025 | | 2024 | | 2025 | | 2024 |
| Revenues: | | | | | | | |
| Cloud services and subscriptions | $ 462,614 | | $ 454,528 | | $ 1,381,944 | | $ 1,355,633 |
| Customer support | 567,379 | | 691,441 | | 1,753,464 | | 2,084,916 |
| License | 138,363 | | 200,363 | | 453,099 | | 662,627 |
| Professional service and other | 86,007 | | 100,799 | | 269,361 | | 304,252 |
| Total revenues | 1,254,363 | | 1,447,131 | | 3,857,868 | | 4,407,428 |
| Cost of revenues: | | | | | | | |
| Cloud services and subscriptions | 174,186 | | 186,400 | | 521,731 | | 537,960 |
| Customer support | 61,733 | | 74,639 | | 186,963 | | 223,027 |
| License | 7,504 | | 6,769 | | 20,497 | | 16,591 |
| Professional service and other | 65,487 | | 75,455 | | 200,443 | | 230,836 |
| Amortization of acquired technology-based intangible assets | 47,199 | | 48,094 | | 141,646 | | 195,702 |
| Total cost of revenues | 356,109 | | 391,357 | | 1,071,280 | | 1,204,116 |
| Gross profit | 898,254 | | 1,055,774 | | 2,786,588 | | 3,203,312 |
| Operating expenses: | | | | | | | |
| Research and development | 197,333 | | 226,521 | | 568,753 | | 665,608 |
| Sales and marketing | 260,102 | | 303,750 | | 779,913 | | 871,384 |
| General and administrative | 115,718 | | 145,924 | | 321,804 | | 450,399 |
| Depreciation | 32,474 | | 32,109 | | 96,524 | | 99,615 |
| Amortization of acquired customer-based intangible assets | 79,683 | | 100,841 | | 242,235 | | 334,958 |
| Special charges (recoveries) | 3,854 | | 19,561 | | 66,228 | | 87,521 |
| Total operating expenses | 689,164 | | 828,706 | | 2,075,457 | | 2,509,485 |
| Income from operations | 209,090 | | 227,068 | | 711,131 | | 693,827 |
| Other income (expense), net | (26,578) | | 9,950 | | 6,382 | | (38,664) |
| Interest and other related expense, net | (78,816) | | (132,663) | | (246,713) | | (413,719) |
| Income before income taxes | 103,696 | | 104,355 | | 470,800 | | 241,444 |
| Provision for income taxes | 10,842 | | 6,028 | | 63,618 | | 24,434 |
| Net income for the period | $ 92,854 | | $ 98,327 | | $ 407,182 | | $ 217,010 |
| Net (income) attributable to non-controlling interests | (49) | | (42) | | (147) | | (149) |
| Net income attributable to OpenText | $ 92,805 | | $ 98,285 | | $ 407,035 | | $ 216,861 |
| Earnings per share—basic attributable to OpenText | $ 0.35 | | $ 0.36 | | $ 1.54 | | $ 0.80 |
| Earnings per share—diluted attributable to OpenText | $ 0.35 | | $ 0.36 | | $ 1.53 | | $ 0.80 |
| Weighted average number of Common Shares outstanding—basic (in '000's) | 262,841 | | 272,272 | | 265,132 | | 271,671 |
| Weighted average number of Common Shares outstanding—diluted (in '000's) | 263,834 | | 273,033 | | 265,610 | | 272,349 |
| OPEN TEXT CORPORATION | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||
| (In thousands of U.S. dollars) | |||||||
| (unaudited) | |||||||
| | |||||||
| | Three Months Ended March 31, | | Nine Months Ended | ||||
| | 2025 | | 2024 | | 2025 | | 2024 |
| Net income for the period | $ 92,854 | | $ 98,327 | | $ 407,182 | | $ 217,010 |
| Other comprehensive income (loss)—net of tax: | | | | | | | |
| Net foreign currency translation adjustments | (1,511) | | 11,765 | | (5,534) | | (18,614) |
| Unrealized gain (loss) on cash flow hedges: | | | | | | | |
| Unrealized gain (loss)—net of tax (1) | (46) | | (1,634) | | (3,580) | | (1,953) |
| (Gain) loss reclassified into net income—net of tax (2) | 1,371 | | 118 | | 2,643 | | 455 |
| Unrealized gain (loss) on available-for-sale financial assets: | | | | | | | |
| Unrealized gain (loss)—net of tax (3) | (395) | | 90 | | 289 | | 319 |
| Actuarial gain (loss) relating to defined benefit pension plans: | | | | | | | |
| Actuarial gain (loss)—net of tax (4) | — | | — | | (1,045) | | (110) |
| Amortization of actuarial (gain) loss into net income—net of tax (5) | 513 | | 115 | | 999 | | 417 |
| Total other comprehensive income (loss), net for the period | (68) | | 10,454 | | (6,228) | | (19,486) |
| Total comprehensive income | 92,786 | | 108,781 | | 400,954 | | 197,524 |
| Comprehensive income attributable to non-controlling interests | (49) | | (42) | | (147) | | (149) |
| Total comprehensive income attributable to OpenText | $ 92,737 | | $ 108,739 | | $ 400,807 | | $ 197,375 |
______________________________
| (1) | Net of tax expense (recovery) of $(17) and $(589) for the three months ended March 31, 2025 and 2024, respectively; $(1,291) and $(704) for the nine months ended March 31, 2025 and 2024, respectively. |
| (2) | Net of tax expense (recovery) of $494 and $42 for the three months ended March 31, 2025 and 2024, respectively; $952 and $163 for the nine months ended March 31, 2025 and 2024, respectively. |
| (3) | Net of tax expense (recovery) of $91 and $24 for the three months ended March 31, 2025 and 2024, respectively; $316 and $84 for the nine months ended March 31, 2025 and 2024, respectively. |
| (4) | Net of tax expense (recovery) of $— and $— for the three months ended March 31, 2025 and 2024, respectively; $(43) and $110 for the nine months ended March 31, 2025 and 2024, respectively. |
| (5) | Net of tax expense (recovery) of $83 and $50 for the three months ended March 31, 2025 and 2024, respectively; $267 and $175 for the nine months ended March 31, 2025 and 2024, respectively. |
| OPEN TEXT CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY | |||||||||||||||
| (In thousands of U.S. dollars and shares) | |||||||||||||||
| (unaudited) | |||||||||||||||
| | |||||||||||||||
| | Three Months Ended March 31, 2025 | ||||||||||||||
| | Common Shares and | | Treasury Stock | | Retained Earnings | | Accumulated Comprehensive Income | | Non- | | Total | ||||
| | Shares | | Amount | | Shares | | Amount | | |||||||
| Balance as of December 31, 2024 | 263,728 | | $ 2,275,583 | | (4,226) | | $ (144,432) | | $ 2,174,514 | | $ (75,779) | | $ 1,621 | | $ 4,231,507 |
| Issuance of Common Shares | | | | | | | | | | | | | | | |
| Under employee stock option plans | — | | 3 | | — | | — | | — | | — | | — | | 3 |
| Under employee stock purchase plans | 273 | | 6,551 | | — | | — | | — | | — | | — | | 6,551 |
| Share-based compensation | — | | 23,000 | | — | | — | | — | | — | | — | | 23,000 |
| Purchase of treasury stock | — | | — | | (297) | | (7,564) | | — | | — | | — | | (7,564) |
| Issuance of treasury stock | — | | (73,720) | | 2,010 | | 74,322 | | (425) | | — | | — | | 177 |
| Repurchase of Common Shares | (4,351) | | (31,405) | | — | | — | | (115,412) | | — | | — | | (146,817) |
| Dividends declared ($0.2625 per Common Share) | — | | — | | — | | — | | (69,235) | | — | | — | | (69,235) |
| Other comprehensive income (loss) - net | — | | — | | — | | — | | — | | (68) | | — | | (68) |
| Net income for the period | — | | — | | — | | — | | 92,805 | | — | | 49 | | 92,854 |
| Balance as of March 31, 2025 | 259,650 | | $ 2,200,012 | | (2,513) | | $ (77,674) | | $ 2,082,247 | | $ (75,847) | | $ 1,670 | | $ 4,130,408 |
| | |||||||||||||||
| | Three Months Ended March 31, 2024 | ||||||||||||||
| | Common Shares and | | Treasury Stock | | Retained Earnings | | Accumulated Comprehensive Income | | Non- | | Total | ||||
| | Shares | | Amount | | Shares | | Amount | | |||||||
| Balance as of December 31, 2023 | 271,855 | | $ 2,261,856 | | (4,400) | | $ (179,089) | | $ 2,029,643 | | $ (83,499) | | $ 1,436 | | $ 4,030,347 |
| Issuance of Common Shares | | | | | | | | | | | | | | | |
| Under employee stock option plans | 517 | | 17,315 | | — | | — | | — | | — | | — | | 17,315 |
| Under employee stock purchase plans | 190 | | 6,698 | | — | | — | | — | | — | | — | | 6,698 |
| Share-based compensation | — | | 35,947 | | — | | — | | — | | — | | — | | 35,947 |
| Issuance of treasury stock | — | | (45,058) | | 1,023 | | 45,483 | | (425) | | — | | — | | — |
| Dividends declared ($0.25 per Common Share) | — | | — | | — | | — | | (68,443) | | — | | — | | (68,443) |
| Other comprehensive income (loss) - net | — | | — | | — | | — | | — | | 10,454 | | — | | 10,454 |
| Net income for the period | — | | — | | — | | — | | 98,285 | | — | | 42 | | 98,327 |
| Balance as of March 31, 2024 | 272,562 | | $ 2,276,758 | | (3,377) | | $ (133,606) | | $ 2,059,060 | | $ (73,045) | | $ 1,478 | | $ 4,130,645 |
| OPEN TEXT CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY | |||||||||||||||
| (In thousands of U.S. dollars and shares) | |||||||||||||||
| (unaudited) | |||||||||||||||
| | |||||||||||||||
| | Nine Months Ended March 31, 2025 | ||||||||||||||
| | Common Shares and | | Treasury Stock | | Retained Earnings | | Accumulated Comprehensive Income | | Non- | | Total | ||||
| | Shares | | Amount | | Shares | | Amount | | |||||||
| Balance as of June 30, 2024 | 267,801 | | $ 2,271,886 | | (3,136) | | $ (123,268) | | $ 2,119,159 | | $ (69,619) | | $ 1,523 | | $ 4,199,681 |
| Issuance of Common Shares | | | | | | | | | | | | | | | |
| Under employee stock option plans | 70 | | 1,883 | | — | | — | | — | | — | | — | | 1,883 |
| Under employee stock purchase plans | 992 | | 25,722 | | — | | — | | — | | — | | — | | 25,722 |
| Share-based compensation | — | | 82,801 | | — | | — | | — | | — | | — | | 82,801 |
| Purchase of treasury stock | — | | — | | (2,484) | | (72,587) | | — | | — | | — | | (72,587) |
| Issuance of treasury stock Für dich aus unserer Redaktion zusammengestelltDein Kommentar zum Artikel im Forum Jetzt anmelden und diskutieren
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