Waterloo – November 05, 2026 -- OpenText posted $339 million in Core Cloud Revenues for the first quarter of fiscal 2027, up 11.2% year over year, while total revenues fell 4.0% to $1.237 billion. Adjusted EBITDA reached $442 million, a 35.8% margin, for the quarter ended September 30, 2026.
Core business grows while divestitures weigh on the top line
Core Revenues rose 2.4% to $864 million, or 2.7% in constant currency. Core Cloud Revenues grew 11.7% in constant currency. Total revenues declined 1.7% in constant currency excluding divestitures.
Total cloud revenues came in at $505 million, up 4.3%, marking 23 consecutive quarters of organic cloud growth. Annual recurring revenues stood at $1.040 billion.
GAAP net income climbs 5.9% to $155 million
GAAP net income rose 5.9% to $155 million, a 13% margin, with diluted EPS of $0.64. Non-GAAP net income fell 4.5% to $254 million, or $1.05 per diluted share.
Operating cash flow was $172 million and free cash flow was $139 million. The company repurchased $23 million of common shares for cancellation.
OpenText cuts debt by about $949 million in twelve months
In October, OpenText completed a $1.0 billion senior secured notes offering and used the proceeds to retire its outstanding 2027 notes. A tender offer for part of its 2028 notes retired a further $300 million. Including debt repaid in October 2026, total debt is down approximately $949 million over the past twelve months. Net leverage was 2.55x at September 30, 2026.
Board declares $0.280 quarterly dividend payable December 18
The Board declared the non-cumulative cash dividend on November 3, 2026. Shareholders of record on December 4, 2026 will receive payment on December 18, 2026. Future declarations remain at the Board's discretion.
Cohere partnership and insurer and manufacturer wins feed AI push
OpenText partnered with Cohere to combine trusted data with agentic AI. Client wins in the Americas included the Workplace Safety & Insurance Board (WSIB). In EMEA and the rest of the world, wins included Commerz Real AG, Gruppo CAP, Insurance Australia Group (IAG) and Sumitomo Electric Wiring Systems Inc.
Investor Day on February 10 to reveal Enterprise Assessment results
OpenText will host an Investor Day in Toronto on February 10, 2027, with an audio webcast for remote attendees. CEO Ayman Antoun and the Executive Leadership Team will present the outcome of the previously announced Enterprise Assessment, along with strategic priorities, growth initiatives and the financial framework.