OTEXNasdaqServices-Computer Integrated Systems DesignUS GAAP · USD

Open Text Corporation

OpenText is a software and services company focused on information management for structured and unstructured data. Its platform helps organizations capture, classify, secure, analyze, and govern information across cloud, on-premises, and hybrid environments, with customers spanning enterprises, governments, SMBs, and consumers worldwide.

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Revenue5,246m USD
+1.5 %y/y
Operating profit (EBIT)1,083m USD
+21.3 %y/y
EBIT margin20.6%
+3.4 ppy/y
Net income643m USD
+47.5 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

02,0004,0006,000m USD2021: 3,386 m USD2021: EBIT 741 m USD20212022: 3,494 m USD2022: EBIT 645 m USD20222023: 4,485 m USD2023: EBIT 516 m USD20232024: 5,770 m USD2024: EBIT 887 m USD20242025: 5,168 m USD2025: EBIT 893 m USD20252026: 5,246 m USD2026: EBIT 1,083 m USD20265,2461,083
RevenueOperating profit (EBIT)
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Business

Share of revenue
Content28 %

Tools for capturing, storing, managing, and governing enterprise content and records.

Business Network15 %

Solutions that connect trading partners and automate document and transaction flows.

Cybersecurity18 %

Enterprise and SMB/consumer security, backup, and threat-intelligence offerings.

IT Operations Management (ITOM)14 %

Software for monitoring, managing, and automating IT service and operations workflows.

Analytics10 %

Information analysis and insight tools used to extract value from enterprise data.

Application Development and Delivery / ADM15 %

Tools supporting application delivery, modernization, and related developer workflows.

Customers

OpenText sells to large global enterprises, governments, SMBs, and consumers, with a strong emphasis on organizations that need to manage complex information flows across many systems. Its software is embedded in business processes, so buyers typically use it to improve compliance, automate workflows, secure data, and connect internal and external information networks.

Global 10,000 enterprises

Large organizations buy content, business network, ITOM, and security software to manage complex information environments.

SMBs

Small and mid-sized businesses buy cloud-based cybersecurity, backup, and managed services, often through channel partners.

Governments and public sector

Public institutions buy information governance, records, and secure data management tools for compliance and control.

Consumers

Consumers are reached mainly through SMB/consumer security and backup products distributed via partners.

Channel partners and GSIs

Resellers, MSPs, and global systems integrators implement and distribute OpenText solutions to end customers.

Strategy

OpenText’s strategy centers on expanding its AI-first information management platform, growing recurring revenue, and using acquisitions and divestitures to sharpen the portfolio. It also emphasizes operational excellence through efficiency, free cash flow generation, and capital return, while deepening relationships with large enterprises and channel partners.

AI-first product developmentShort term

AI-ready information management can increase product relevance and customer stickiness.

Recurring revenue expansionMedium term

Cloud services, subscriptions, and support improve revenue visibility and customer retention.

Portfolio optimizationMedium term

Divestitures and acquisitions are used to concentrate capital on higher-return information management assets.

Partner-led go-to-marketLong term

Distributors, MSPs, and GSIs extend reach into enterprise and SMB markets.

Geography

OpenText sells its products worldwide and organizes operations across the Americas, EMEA, and Asia Pacific. In the latest reported quarter, the Americas represented 53.4% of revenue, EMEA 37.4%, and Asia Pacific 9.2%, showing a broad multinational revenue base with meaningful exposure to Europe and North America.

Risks

OpenText faces intense competition in a software market that changes quickly and includes large incumbents and specialized vendors. Its business also depends on third-party partners and service providers, while international operations expose it to geopolitical, currency, and regulatory complexity.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Technology obsolescence and product integration risk1Intense competition2Channel and partner dependence3International operating exposure4Acquisition and divestiture integration risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Technology obsolescence and product integration riskImpact: HighLikelihood: Medium

    Customers expect software to integrate with existing systems and evolve quickly.

    Exposure: Core information management platform

  2. Intense competitionImpact: HighLikelihood: Medium

    The company competes with IBM, Oracle, Microsoft, ServiceNow, Adobe, and others.

    Exposure: Enterprise software and cloud offerings

  3. Channel and partner dependenceImpact: MediumLikelihood: Medium

    A meaningful portion of sales and implementation depends on third parties.

    ExposureMSPsDistributorsGSIsStrategic partners
  4. International operating exposureImpact: MediumLikelihood: Medium

    Revenue and staffing are spread across multiple regions and countries.

    ExposureAmericasEMEAAsia Pacific
  5. Acquisition and divestiture integration riskImpact: MediumLikelihood: Medium

    Portfolio changes can create execution risk and affect product continuity.

    Exposure: M&A and business portfolio management

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Accounting

Judgemental items
Revenue recognition

Software, cloud, support, and services may have different timing and allocation rules.

Impact: Can shift revenue between quarters and affect recurring revenue metrics

Goodwill

Acquisitions create goodwill that must be tested for impairment.

Impact: Potential non-cash write-downs if acquired businesses underperform

Acquired intangibles

Purchased technology and customer relationships are amortized over time.

Impact: Affects operating income and comparability after acquisitions

Income taxes

Global operations and entity structure require judgment on tax provisions.

Impact: Can materially affect effective tax rate and net income

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Last updated: 24/09/2026