Canada's Open Text meets Q1 revenue estimates
OTEX•Open Text's fiscal first-quarter revenue fell 4% year over year to $1.24 billion, matching estimates, while adjusted earnings per share were flat. The company repurchased $23 million of shares and reduced debt by $300 million after refinancing.
1. Quarterly results
Open Text reported fiscal first-quarter revenue of $1.24 billion, down 4% from a year earlier and in line with analyst estimates. Adjusted earnings per share were flat year over year, and annual recurring revenue was $1.04 billion.
2. Cloud and capital
The company said core cloud revenue grew 11% year over year and cited client wins across multiple industries. It repurchased $23 million in shares and reduced debt by $300 million after refinancing.
3. Investor outlook
Open Text said it will present strategic priorities and a growth outlook at its Investor Day in February 2027.
