$OTEX

OPEN TEXT CORP

CIK:0001002638|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Revenues (Note 3):
Total revenues	$ 5,246,401	$ 5,168,405	$ 5,769,577
Cost of revenues:
Amortization of acquired technology-based intangible assets (Note 8)	174,609	188,780	243,922
Total cost of revenues	1,377,940	1,434,118	1,578,549
Gross profit	3,868,461	3,734,287	4,191,028
Operating expenses:
Research and development	647,707	755,936	864,463
Sales and marketing	1,136,030	1,059,497	1,163,134
General and administrative	436,566	427,811	577,038
Depreciation	143,938	130,573	131,599
Amortization of acquired customer-based intangible assets	288,603	321,891	432,404
Special charges (recoveries)	133,020	145,890	135,305
Total operating expenses	2,785,864	2,841,598	3,303,943
Income from operations	1,082,597	892,689	887,085
Other income (expense), net (Note 23)	85,875	(82,787)	358,391
Interest and other related expense, net	(309,595)	(327,831)	(516,180)
Income before income taxes	858,877	482,071	729,296
Provision for income taxes (Note 15)	215,614	46,005	264,012
Net income	643,263	436,066	465,284
Net (income) attributable to non-controlling interests	(241)	(198)	(194)
Net income attributable to OpenText	$ 643,022	$ 435,868	$ 465,090
Earnings per share—basic attributable to OpenText (in dollars per share)	$ 2.58	$ 1.66	$ 1.71
Earnings per share—diluted attributable to OpenText (in dollars per share)	$ 2.58	$ 1.65	$ 1.71
Weighted average number of Common Shares outstanding—basic (in shares)	249,026	263,274	271,548
Weighted average number of Common Shares outstanding—diluted (in shares)	249,373	263,650	272,588
Cloud services and subscriptions
Revenues (Note 3):
Total revenues	$ 1,958,554	$ 1,856,474	$ 1,820,524
Cost of revenues:
Costs of revenues	700,617	697,929	713,759
Customer support
Revenues (Note 3):
Total revenues	2,287,449	2,334,037	2,713,297
Cost of revenues:
Costs of revenues	231,670	250,310	292,733
License
Revenues (Note 3):
Total revenues	678,465	625,614	834,162
Cost of revenues:
Costs of revenues	25,132	31,939	25,608
Professional service and other
Revenues (Note 3):
Total revenues	321,933	352,280	401,594
Cost of revenues:
Costs of revenues	$ 245,912	$ 265,160	$ 302,527

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2024

Cash flows from operating activities:

Net income

$ 643,263

$ 436,066

$ 465,284

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization of intangible assets

607,150

641,244

807,925

Share-based compensation expense

80,636

104,840

140,079

Pension expense

15,381

14,593

13,881

Amortization of debt discount and issuance costs

22,522

21,977

25,257

Write-off of right of use assets

12,085

8,805

20,056

Loss on extinguishment of debt

18,787

56,393

(Gain) adjustments to gain on divestitures

(76,136)

4,175

(429,102)

Loss on sale and write down of property and equipment, net

6,546

3,178

3,710

Deferred taxes

(26,202)

(138,616)

(142,271)

Share in net (income) loss of equity investees

4,049

(230)

18,194

Changes in derivative instruments

(27,369)

44,286

(3,116)

Changes in operating assets and liabilities:

Accounts receivable

14,449

80,097

108,562

Contract assets

(147,700)

(135,911)

(95,403)

Prepaid expenses and other current assets

(39,979)

42,486

(28,395)

Income taxes

(39,427)

(246,681)

112,097

Accounts payable and accrued liabilities

(39,696)

(23,012)

(65,887)

Deferred revenue

(7,860)

3,565

(42,974)

Other assets

(56)

(15,264)

24,849

Operating lease assets and liabilities, net

(13,626)

(14,980)

(21,448)

Net cash provided by operating activities

1,006,817

830,618

967,691

Cash flows from investing activities:

Additions of property and equipment

(199,300)

(143,222)

(159,295)

Purchase of Micro Focus, net of cash acquired

(9,272)

Proceeds (adjustments to proceeds) from AMC Divestiture

311,913

(11,686)

2,229,187

Settlement of derivative instruments

(10,380)

Proceeds from interest on derivative instruments

5,166

4,456

Other investing activities

4,559

6,614

(9,759)

Net cash provided by (used in) investing activities

117,177

(153,508)

2,055,317

Cash flows from financing activities:

Proceeds from issuance of Common Shares from exercise of stock options and ESPP

56,419

35,372

66,914

Repayment of long-term debt and Revolver

(648,852)

(35,851)

(2,568,352)

Debt issuance costs

(1,066)

(3,833)

Net change in transition services agreement obligation

14,271

(15,278)

15,278

Repurchase of Common Shares

(416,411)

(413,256)

(150,017)

Purchase of treasury stock

(52,901)

(130,649)

(53,085)

Payments of dividends to shareholders

(268,357)

(271,523)

(267,362)

Other financing activities

(3,309)

(2,428)

(1,447)

Net cash used in financing activities

(1,319,140)

(834,679)

(2,961,904)

Foreign exchange gain (loss) on cash held in foreign currencies

(5,706)

32,882

(12,263)

Increase (decrease) in cash, cash equivalents and restricted cash during the year

(200,852)

(124,687)

48,841

Cash, cash equivalents and restricted cash at beginning of the year

1,158,106

1,282,793

1,233,952

Cash, cash equivalents and restricted cash at end of the year

957,254

1,158,106

1,282,793

Reconciliation of cash, cash equivalents and restricted cash:

Cash and cash equivalents

956,024

1,156,496

1,280,662

Restricted cash

^[1]

1,230

1,610

2,131

Total cash, cash equivalents and restricted cash

$ 957,254

$ 1,158,106

$ 1,282,793

[1]	Restricted cash is classified under the Prepaid expenses and other current assets and Other assets line items on the Consolidated Balance Sheets (Note 9).

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
ASSETS
Cash and cash equivalents	$ 956,024	$ 1,156,496
Accounts receivable trade, net of allowance for credit losses of $13,136 as of June 30, 2026 and $14,258 as of June 30, 2025 (Note 4)	751,046	659,675
Contract assets (Note 3)	77,447	77,920
Income taxes recoverable (Note 15)	97,715	108,792
Prepaid expenses and other current assets (Note 9)	235,641	198,575
Total current assets	2,117,873	2,201,458
Property and equipment (Note 5)	522,197	375,252
Operating lease right of use assets (Note 6)	134,377	197,977
Long-term contract assets (Note 3)	59,872	49,293
Goodwill (Note 7)	7,327,376	7,517,463
Acquired intangible assets (Note 8)	1,475,018	1,976,591
Deferred tax assets (Note 15)	1,077,003	1,080,575
Other assets (Note 9)	301,328	307,693
Long-term income taxes recoverable (Note 15)	91,460	67,762
Total assets	13,106,504	13,774,064
Current liabilities:
Accounts payable and accrued liabilities (Note 10)	969,079	1,026,583
Current portion of long-term debt (Note 11)	35,850	35,850
Operating lease liabilities (Note 6)	63,612	75,914
Deferred revenues (Note 3)	1,483,234	1,515,382
Income taxes payable (Note 15)	71,550	93,325
Total current liabilities	2,623,325	2,747,054
Long-term liabilities:
Accrued liabilities (Note 10)	128,915	42,312
Pension liability, net (Note 12)	100,473	132,215
Long-term debt (Note 11)	5,734,519	6,342,071
Long-term operating lease liabilities (Note 6)	138,425	189,949
Long-term deferred revenues (Note 3)	159,912	168,757
Long-term income taxes payable (Note 15)	65,255	79,604
Deferred tax liabilities (Note 15)	139,614	141,514
Total long-term liabilities	6,467,113	7,096,422
Shareholders’ equity:
Common shares	2,160,481	2,193,985
Accumulated other comprehensive income (loss) (Note 21)	(38,567)	(67,067)
Retained earnings	2,016,086	1,940,113
Treasury stock, at cost (4,751,257 and 4,648,036 shares at June 30, 2026 and June 30, 2025, respectively)	(123,896)	(138,164)
Total OpenText shareholders’ equity	4,014,104	3,928,867
Non-controlling interests	1,962	1,721
Total shareholders’ equity	4,016,066	3,930,588
Total liabilities and shareholders’ equity	$ 13,106,504	$ 13,774,064