Open Text Corp

OTEX

Equity

ISIN CA6837151068 / Valor 241964

Toronto Stock Exchange (2024-11-22)

CAD 41.17+0.96%

Open Text Corp
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About company

Open Text Corp is a global market leader in Information Management, offering a range of solutions to support customers' growth. The company was founded as a spin-off from the University of Waterloo in Canada and has since expanded its offerings through strategic acquisitions, such as Micro Focus and Carbonite. Open Text Corp is publicly listed on the NASDAQ as OTEX and continues to innovate in areas such as AI & Analytics, Application Development & Delivery, Application Modernization, and Digital Operations Management to meet the evolving needs of its customers.

Summarized from source with an LLMView SourceSector: Technology

Total Annual Revenues

Open Text Corp reported total annual revenues of $5.8 billion for the fiscal year 2024, marking a 28.6% year-over-year growth. This significant increase was driven by strong performance across various segments, including cloud services and subscriptions.

Annual Recurring Revenues

For the fiscal year 2024, Open Text Corp achieved annual recurring revenues of $4.5 billion, which represents a 25.4% increase compared to the previous year. This growth underscores the company's successful focus on recurring revenue streams.

Cloud Revenues

Open Text Corp's cloud revenues for fiscal year 2024 were $1.8 billion, reflecting a 7.1% year-over-year growth. The company continues to invest in its cloud infrastructure, contributing to this steady increase.

Net Income

Open Text Corp reported a GAAP-based net income of $465 million for fiscal year 2024, a substantial increase of 209.3% from the previous year. This rise was primarily due to the gain on the divestiture of the AMC business.

Dividends and Share Repurchase

Open Text Corp announced an increase in its annualized dividend by 5%, raising it from $1 per share to $1.05 per share. Additionally, the company introduced a new $300 million share repurchase program, aiming to return approximately $570 million to shareholders during fiscal year 2025.

Summarized from source with an LLMView Source

Key figures

-22.3%1Y

-35.9%3Y

-28.0%5Y

Performance

27.3%1Y

28.6%3Y

28.4%5Y

Volatility