OpenText Q2 rev $1.535B (+71% YoY), record cloud bookings, and $2.275B AMC divestiture

OPEN TEXT CORP

2024-Q2 EPS reported $0.44 revenue$2,960,297,000

Total revenues $1.535B, up 71% YoY; ARR $1.146B (75% of total); cloud revenues $450M (+10.1%).
GAAP net income $38M ($0.14 diluted EPS); Non-GAAP diluted EPS $1.24; Adjusted EBITDA $566M (36.9% margin).
Record quarterly enterprise cloud bookings $236M, up 62.8% YoY; raised cloud booking growth outlook to 25%-30% for FY24.
Announced definitive agreement to divest AMC business to Rocket Software for $2.275B; net proceeds to repay debt; close expected Q4 FY24.
Free cash flows $305M, up 87% YoY; cash ~$1B; declared dividend $0.25/share payable Mar 20, 2024.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OPEN TEXT CORP reported the second quarter ended December 31, 2023 results: revenue $1.535 billion, net income $38 million, EPS $0.14. Guidance raised.

Period: the second quarter ended December 31, 2023
Revenue: $1.535 billion
Net income: $38 million
EPS: $0.14
Guidance: raised
Result: reported results

Exact text from the filing

of any general incorporation language in such filing. --- EX-99.1 (EX-99.1) --- OpenText Reports Second Quarter Fiscal Year 2024 Financial Results 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

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Source: SEC EDGAR

accession 0001002638-24-000004

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