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OpenText Reports First Quarter Fiscal Year 2027 Financial Results
Core Revenues growth of2%Y/Y, and Core Cloud Revenues growth of 11% Y/Y
Delivers Net Income Margin of 13%, Robust Adjusted EBITDA Margin of 35.8%
Fiscal 2027 First Quarter Highlights(in millions)(1)
WATERLOO, ON, Nov. 5, 2026 /PRNewswire/ — Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced its financial results for the first quarter ended September 30, 2026.
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“Our first quarter reflects the strength of our core portfolio and the value we deliver for clients,” said Ayman Antoun, OpenText CEO. “As clients move to AI, they need trusted context and connected data for outcomes they can rely on. With Aviator AI agents infused across our core portfolio and a go-to-market model built around our clients’ success, we are supporting them at every step of their AI journey.” |
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Ayman Antoun, OpenText Chief Executive Officer |
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“OpenText delivered strong performance in the first quarter of Fiscal 2027, supported by continued financial and operational discipline,” said Steve Rai, OpenText EVP, CFO. “Following the quarter, we completed a $1.0 billion debt refinancing and paid down $300 million in debt through a successfully completed tender offer, providing the Company with greater financial flexibility. The durability of our operating model enables us to execute our capital allocation priorities through the remainder of Fiscal 2027.” |
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Steve Rai, OpenText Executive Vice President, Chief Financial Officer |
First Quarter Financial Highlights Y/Y
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Total revenues: $1.237 billion, -4.0% Y/Y, -1.7% Y/Y in constant currency excluding divestitures
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Core Revenues(2): $864 million, +2.4% Y/Y, +2.7% Y/Y in constant currency
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Core Cloud Revenues(2): $339 million, +11.2% Y/Y, +11.7% Y/Y in constant currency
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Annual recurring revenues (ARR): $1.040 billion
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Cloud revenues: $505 million, +4.3% Y/Y, 23 consecutive quarters of cloud organic growth
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Cash flows: Operating $172 million and free cash flow(3) $139 million
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Net income: GAAP $155 million, +5.9% Y/Y, Non-GAAP(3) $254 million, -4.5% Y/Y
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Adjusted EBITDA(3) of $442 million, margin of 35.8%
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Diluted earnings per share (EPS): GAAP $0.64, Non-GAAP(3) $1.05
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Repurchased $23 million of common shares for cancellation
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Numbers presented are in millions of US dollars, except for per share or percentage metrics. |
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Core revenues product categories include Content, Business Network, IT Operations Management (ITOM) and Cybersecurity (Enterprise). |
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Please see Note 2 “Use of Non-GAAP Financial Measures” to the condensed consolidated financial statements below. |
