We expanded our margins delivering a record adjusted EBITDA margin of 42.6%. With OpenText Cloud Editions, we provide businesses of all sizes with the most comprehensive and scalable cloud-based solutions to help their customers compete in the modern world. managed support ticket, My Changes in operating assets and liabilities: Operating lease assets and liabilities, net, Net cash provided by operating activities, Proceeds from issuance of Common Shares from exercise of stock options and ESPP, Net cash provided by (used in) financing activities, Foreign exchange gain (loss) on cash held in foreign currencies, Increase (decrease) in cash, cash equivalents and restricted cash during the period, Cash, cash equivalents and restricted cash at beginning of the period, Cash, cash equivalents and restricted cash at end of the period. My role with TNS was to grow revenue and add new logos to the Managed Financial IP Extranet, products included connectivity for FiX Order Routing, Trade . Dollars unless otherwise indicated. Established robust analytical procedures like Collection Efficiency Index and in-quarter collections vs billings at a revenue stream level to build understanding of the business and enable better management of Accounts Receivable function. Cautionary Statement Regarding Forward-Looking Statements. (unaudited). In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Dolor. OpenText strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. The Company uses these Non-GAAP financial measures to supplement the information provided in its consolidated financial statements, which are presented in accordance with U.S. GAAP. services, Adoption In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of GAAP-based net income to Non-GAAP-based net income: GAAP-based net income, attributable to OpenText, GAAP-based provision for (recovery of) income taxes, Non-GAAP-based provision for income taxes, Non-GAAP-based net income, attributable to OpenText, GAAP-based cash flows provided by operating activities. All dollar amounts in this press release are in U.S. The list of trademarks is not exhaustive of other trademarks. Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations, and are therefore excluded from our internal analysis of operating results. account details, Alerts We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Download report. Cautionary Statement Regarding Forward-Looking Statements. Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. ECM, Consulting The list of trademarks is not exhaustive of other trademarks. talkin' tennessee piano sheet music; black-owned restaurants dorchester In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. The record date for this dividend is September3, 2021 and the payment date is September24, 2021. Waterloo-based tech company OpenText says it earned $102.2 million in the three months ended June 30, a 43.6 per cent decline from the previous year's quarter even as it achieved record revenue of $3.5 billion for its full 2022 fiscal year. Open Text 2021 annual EBITDA was $1.266B, a 19.47% increase from 2020. Automation, OpenText OT2 Cloud The price that OpenText will pay for common shares in open market transactions will be the market price at the time of purchase or such other price as may be permitted by applicable law or stock exchange rules. services, Managed Automation, OpenText OT2 Cloud CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY In addition, any information or statements that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking, and based on our current expectations, forecasts and projections about the operating environment, economies and markets in which we operate. Therefore, the Company believes that the exclusion of these special charges (recoveries) will also better aid readers of financial statements in the understanding and comparability of the Company's operating results and underlying operational trends. 08/05/2022. GAAP-based and Non-GAAP-based income from operations stated in dollars. & Learning SIC Code 73,737. Specifically, cloud revenue rose 13.5% YOY or up . Non-GAAP-based gross margin is calculated as Non-GAAP-based gross profit expressed as a percentage of total revenue. Unrealized gain (loss) on cash flow hedges: Unrealized gain (loss) - net of tax expense (recovery) effect of ($599), $6 and ($171) for the year ended June 30, 2020, 2019 and 2018, respectively, (Gain) loss reclassified into net income - net of tax (expense) recovery effect of $355, $539 and ($489) for the year ended June 30, 2020, 2019 and 2018, respectively. (2)Use of Non-GAAP Financial Measures: In addition to reporting financial results in accordance with U.S.GAAP, the Company provides certain financial measures that are not in accordance with U.S. GAAP (Non-GAAP). Average salaries for OpenText Data Scientist: $73,706. And I'm pleased with our start to fiscal year 2020, and constant-currency with approximate. Discover how OpenText solutions help leading organizations grow faster, more efficient, embrace creativity and thrive in a world of accelerating change. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. By providing your email address below, you are providing consent to OpenText to send you the requested Investor Email Alert updates. The integration of Carbonite remains on track to be on our operating model by the end of Fiscal 2021. ET through 11:59 p.m. on August 19, 2021 and can be accessed by dialing 1-855-669-9658 (toll-free) or +1-604-674-8052 (international) and using passcode 7298 followed by the number sign. Changes in operating assets and liabilities: Operating lease assets and liabilities, net, Net cash provided by operating activities, Proceeds from issuance of Common Shares from exercise of stock options and ESPP, Net cash provided by (used in) financing activities, Foreign exchange gain (loss) on cash held in foreign currencies, Increase (decrease) in cash, cash equivalents and restricted cash during the period, Cash, cash equivalents and restricted cash at beginning of the period, Cash, cash equivalents and restricted cash at end of the period. OpenText Cloud Editions enables customers to accelerate growth and stay ahead of the competition by maximizing the value of their information through our cloud-based Information Management platform. In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Annual recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue. Compare OTEX With Other Stocks. (Q1 FY21 vs Q1 FY20). For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com. None of the forward-looking statements, which speak only as of the date they were made, should be considered as the Press Release: Nov 14, 2022. 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. OpenText strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. Adjustment relates to differences between the GAAP-based tax provision rate of approximately 29% and a Non-GAAP-based tax rate of approximately 14%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based adjusted net income. OpenText salary trends based on salaries posted anonymously by OpenText employees. Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (In thousands of U.S. dollars, except share and per share data), Weighted average number of Common Shares outstandingbasic, Weighted average number of Common Shares outstandingdiluted, OPEN TEXT CORPORATION Additionally, the Company has engaged in various restructuring activities over the past several years, primarily due to acquisitions, that have resulted in costs associated with reductions in headcount, consolidation of leased facilities and related costs, all which are recorded under the Company's "Special Charges (recoveries)" caption on the Consolidated Statements of Income. The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) integration of acquisitions and related restructuring efforts, including the quantum of restructuring charges and the timing thereof; (ii) the potential for the incurrence of or assumption of debt in connection with acquisitions and the impact on the ratings or outlooks of rating agencies on the Company's outstanding debt securities; (iii) the possibility that the Company may be unable to meet its future reporting requirements under the U.S. Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, or applicable Canadian securities regulation; (iv) the risks associated with bringing new products and services to market; (v) failure to comply with privacy laws and regulations that are extensive, open to various interpretations and complex to implement including General Data Protection Regulation (GDPR) and Country by Country Reporting (CBCR); (vi) fluctuations in currency exchange rates; (vii) delays in the purchasing decisions of the Company's customers; (viii) the competition the Company faces in its industry and/or marketplace; (ix) the final determination of litigation, tax audits (including tax examinations in the United States and elsewhere) and other legal proceedings; (x) potential exposure to greater than anticipated tax liabilities or expenses, including with respect to changes in Canadian, U.S. or international tax regimes including tax reform legislation enacted through the Tax Cuts and Jobs Act in the United States; (xi) the possibility of technical, logistical or planning issues in connection with the deployment of the Company's products or services; (xii) the continuous commitment of the Company's customers; and (xiii) demand for the Company's products and services. Please check your download folder. OPEN TEXT CORPORATION Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. Reconciliation of GAAP-based net income to Non-GAAP-based net income: GAAP-based net income, attributable to OpenText, GAAP-based provision for (recovery of) income taxes, Non-GAAP-based provision for income taxes, Non-GAAP-based net income, attributable to OpenText, Non-GAAP-based Measures% of Total Revenue. CONSOLIDATED STATEMENTS OF CASH FLOWS Read the latest press releases and news stories from OpenText including product announcements, corporate initiatives, and more. On March 19, 2020, OpenText proactively drew down $600 million from its Revolving Credit Facility as a pre-emptive measure in order to increase our cash position and preserve . Alternatively, a live webcast of the earnings conference call will be available on the Investor Relations section of the Company's website at http://investors.opentext.com/investor-events-and-presentations. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangible assets, Accelerated amortization of right of use assets, Loss on sale and write down of property and equipment, Share in net (income) loss of equity investees. Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced its financial results for the fourth quarter and year ended June30, 2021. Open Text annual revenue for 2021 was $3.386B, a 8.89% increase from 2020. Actuarial gain (loss) relating to defined benefit pension plans: Actuarial gain (loss) - net of tax expense (recovery) effect of $990, $1,219 and ($2,004) for the year ended June 30, 2021, 2020 and 2019, respectively, Amortization of actuarial (gain) loss into net income - net of tax (expense) recovery effect of $379, $520 and $292 for the year ended June 30, 2021, 2020 and 2019, respectively, Total other comprehensive income (loss) net, Comprehensive (income) loss attributable to non-controlling interests, Total comprehensive income attributable to OpenText, OPEN TEXT CORPORATION OpenText is a trademark or registered trademark of Open Text. At OpenText, we promise to treat your data with respect and will not share your information with any third party. "We demonstrated outstanding execution in a challenged environment with total revenues of $804.0 million, an increase of 15.4% year-over-year and Cloud Services and Subscription revenues of $341.0 million, an increase of 43.7% year-over-year, being our largest revenue contributor. HOME; LOGIN; . % of Total Revenue, GAAP-based gross profit and gross margin (%) / (In thousands of U.S. dollars and shares), CommonShares and Additional Paid in Capital, Adoption of ASU 2016-13 - cumulative effect, net, OPEN TEXT CORPORATION GAAP-based and Non-GAAP-based gross profit stated in dollars, and gross margin stated as a percentage of total revenue. . Purchase of Catalyst Repository Systems Inc. Purchase of Guidance Software, Inc., net of cash acquired, Proceeds from long-term debt and Revolver. Read success stories OpenText at-a-glance 90% of Fortune 100 companies are OpenText customers 40 of the 50 largest supply chains run OpenText 120K customers in 110+ countries $9 Trillion Record Cloud, Record Annual Recurring Revenues (ARR) and Record Operating Cash Flows, Declares Cash Dividend of $0.1746 Per Common Share, WATERLOO, Ontario, Aug. 6, 2020 /PRNewswire/ --, Fiscal 2020 Fourth Quarter Highlights Y/Y, Annual Recurring Revenues represents 80% of Total Revenues, Total Revenues GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. For the quarter, revenue was $852 million, up 2.4% year over year (YOY) or up 7.1% in constant currency, as the USD has been strong versus other currencies. Managed Services, OpenText Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. . With approximately $1.6 billion of cash as of June 30, 2021, and a net leverage ratio of 1.5x, our balance sheet and liquidity position remain strong. Non-GAAP-based Measures ET (2:00 p.m. PT) by dialing 1-800-319-4610 (toll-free) or +1-604-638-5340 (international). View original content:https://www.prnewswire.com/news-releases/opentext-reports-fourth-quarter-and-fiscal-year-2021-financial-results-301349782.html. Please see note 2 "Use of Non-GAAP Financial Measures" below. OpenText Reports First Quarter Fiscal Year 2021 Financial Results, Enterprise According to OpenText 's latest financial reports the company's current revenue (TTM) is $3.49 B . 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. 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