secwatch.observer — SEC 8-K summary
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Issuer:     OPEN TEXT CORP (OTEX)
CIK:        0001002638
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0001002638-24-000004
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1002638/000100263824000004/0001002638-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1002638/000100263824000004/otex-20240201.htm
  HTML page:      https://secwatch.observer/filing/0001002638-24-000004

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