Slide 1: Fourth Quarter Fiscal Year 2025 Financial Results
Fourth Quarter Fiscal Year 2025 Financial Results August 7, 2025 NASDAQ/TSX: OTEX
Slide 2: Safe Harbor and IP Statement
Safe Harbor and IP Statement This presentation contains forward-looking statements or information (forward-looking statements) within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act), Section 2
Slide 3: Mark J. Barrenechea
Mark J. Barrenechea OpenText CEO & CTO OpenText ©2025. All rights reserved. 3
Slide 4: Focus Today
Focus Today OpenText is Distinct Strategic Priorities • Critically significant to companies across industries 1. Competitive Advantage and geographies • Leading with AI First, Business Cloud Suites, new Data • Designed to perform across business cycles Cloud, and new Security 2. Total Revenue Growth
Slide 5: F'25 Q4 Key Quarter Financial Highlights
F'25 Q4 Key Quarter Financial Highlights In Constant Currency(3) Y/Y Y/Y Y/Y Key Financials Q4 F’25 % % Change Additional Metrics Q4 F’25 Y/Y % Change Change Ex-AMC Q4 F’25 % Change Total Revenues $1,311M -3.8% -0.7% $1,298M -4.7% Enterprise Cloud Bookings(4) $238M 32.3% Annual Recurring $1,055M / -
Slide 6: Year Trended Annual Metrics
3 Year Trended Annual Metrics Total Revenue (1) As Reported F’25 F’24 F’23 ex-AMC & ex- IP Rights(1,6) Organic Growth Cloud 1.9% 1.7% 1.5% Information Management F’25 F’24 F’23 (% of Total Revenue) y/y % change ARR(2) (1.5)% 0.6% (0.8%) Total (3.1)% 0.8% (2.0%) Content Management 40% 40% 45% In CC(3
Slide 7: OpenText Cloud Growth in F'25
OpenText Cloud Growth in F’25 Metrics % of Cloud Revenues Cloud Growth % Content 25% > 10% OSM(1), DevOps(2) 10% > 10% Business Network 30% Constant Cybersecurity 30% (4%) Others 5% Declined Total 100% 2% *Numbers are approximate 1. IT Operations Management has been renamed Observability and Service
Slide 8: F'25 Full Fiscal Year Financial Highlights
F’25 Full Fiscal Year Financial Highlights In Constant Currency(3) Y/Y Y/Y Key Financials F’25 % Change Additional Metrics F’25 Commentary % Change Y/Y Ex-AMC F’25 % Change Up 10% y/y, led by gains Total Revenues $5,168M -10.4% -3.0% $5,171M -10.4% Enterprise Cloud Bookings(4) $773M in Content Cloud
Slide 9: Cloud RPO & Cloud Bookings
Cloud RPO & Cloud Bookings RPO(1) Q4 F'25 Q4 F'24 % Y/Y Enterprise Cloud Bookings(2) Current RPO (cRPO) Cloud Services and Subscription $1.2B $1.1B 8% $238M Q4 F’25 Customer Support and Other $1.4B $1.4B - 32% Y/Y Total cRPO $2.6B $2.5B 4% Long Term RPO $773M F’25 Actuals +10% Y/Y Cloud Services and
Slide 10: Resilience and Growth
Resilience and Growth OpenText has demonstrated resiliency and growth during key global economic events Total Revenue US$ Billion A-EBITDA(1) US$ Billion A-EPS(1) US$ AMC AMC $6.0 divesture $2.0 divesture $4.50 AMC divesture +11% +11% $1.8 +11% +9% $4.00 +8% +6% $5.0 10-yr 5-yr 10-yr 5-yr 10-yr 5-yr
Slide 11: F'26 Annual Outlook & Q1 Estimates
F’26 Annual Outlook & Q1 Estimates Metrics F’26 Outlook 1% to 2% • Expect strong progress on Customer Support to reduce Total Revenue Growth rate of decline in half (from approximately -4% in F’25 to (also growing in CC(1)) -2% in F’26) Cloud Revenue Growth 3% to 4% • Cloud revenue growth leading th
Slide 12: Medium-term Business Model
Medium-term Business Model Continued growth: Total Revenue, Margin, and Free Cash Flows Metrics 3 Year Business Model Comments Rule of 40 40 Total Revenue Growth % + A-EBITDA(1) Margin % approaches 40 Continuously improve operations, delivering A-EBITDA(1) in the mid-to-high A-EBITDA Margin(1) Mid-t
Slide 13: Todd Cione
Todd Cione OpenText President, Worldwide Sales OpenText ©2025. All rights reserved. 13
Slide 14: Q4 F'25 Customer Wins
Q4 F’25 Analytics Content Analytics Database (Vertica) Core Archive solution for SAP Document and Date Archiving Customer Wins • Rightmove, a leading real estate organization, faced the renewal of their OpenText Analytics Database (formerly Vertica). With a strategic focus on cost optimization and l
Slide 15: Why We Won the Customer
Why We Won the Customer (1) Content Content OSM Content Management Cloud Content Management Cloud Observability & Service Management Cloud Platform One of Europe’s largest healthcare and life A large Canadian financial institution utilized One of the largest and nationally ranked US sciences compani
Slide 16: Top Strategic Partners
Top Strategic Partners Global System Integrators OpenText ©2025. All rights reserved. 16
Slide 17: Paul Duggan
Paul Duggan OpenText President, Chief Customer Officer OpenText ©2025. All rights reserved. 17
Slide 18: Recurring Revenue Flywheel
Recurring Revenue Flywheel Success at Scale Q4’25 Highlights 96% (2) • Off Cloud Net Renewal Rate improvement: $4.2B (1) Cloud Net Renewal Rate 91% (+100 bps q/q) Annual Recurring 91% (2) Revenue Off Cloud Net Renewal Rate • Upper quartile Core Operating Metrics: Cancellations, Past Due, On Time $2.
Slide 19: Fiscal F'26 Priorities
Fiscal F’26 Priorities Customer Centricity Growth Programs • Business mindset and operating model • Titanium X upgrades • Starts with a deep understanding of what • Cloud Customer Success Services creates lifetime value for the customer • Advanced Customer Support Focus in F’26: (1) CS / Maintenance
Slide 20: Chadwick Westlake
Chadwick Westlake OpenText Executive Vice President, CFO OpenText ©2025. All rights reserved. 20
Slide 21: Cloud cRPO - Illustrative Concept
Cloud cRPO - Illustrative Concept New & Renewed Business (Total Cloud Bookings) Cloud cRPO • Contractually committed revenue only • Recognized to revenue over the upcoming 12 months • Reduced by Outflows • Incremental to Cloud cRPO cRPO Change (point in time) • Revenue from in-year new Over bookings
Slide 22: Revenue & Gross Margin Highlights
Revenue & Gross Margin Highlights Y/Y Y/Y Cloud Key Financials Q4 F’25 Change F’25 Change • Q4 Cloud Revenues were $475 million up Total Revenues $1,311M -3.8% $5,168M -10.4% 2.1% y/y and represented about 36.2% of total revenue. Annual Recurring Revenues(1) $1,055M -3.5% $4,191M -7.6% % of Rev 80.5
Slide 23: A-EBITDA Margin Performance
A-EBITDA Margin Performance A-EBITDA(1) • A-EBITDA Margin(1) in F’25 slightly above the top end Y/Y Margin of margin target range, driven by expense reduction initiatives. Q4 F’25 Actual 33.9% +120 bps • Expense management from early execution on the Business Optimization Plan, as well as higher rev
Slide 24: Business Optimization Plan and Other Savings Initiatives
Business Optimization Plan and Other Savings Initiatives Update • >2x return on benefit vs. cost F’25 F’26 F’27+ Savings • Upside from early execution reflected in F25 Actuals and F26 Outlook • Remain committed to re-invest in Innovation $490m to and Growth through select investments in Go-To- 35% 3
Slide 25: Free Cash Flow Performance
Free Cash Flow Performance F’25 FCF(1) F’25 FCF(1) Target $687M • In F’25, we generated $687M of FCF(1), above our $600M to $650M target range. • In Q4, we generated $124M of FCF(1) • Top contributing factors were: • Early savings from expanded Business Optimization Plan • Reduced interest payments
Slide 26: Disciplined Capital Allocation
Disciplined Capital Allocation Track Record of Capital Return(1) Growth $683 Share Buyback, $M $415 $417 Dividends, $M $330 $260 $150 $411 $177 $119 $189 $165 $169 $146 $121 $88 $66 $75 $18 $99 $211 $238 $267 $272 F'13 F'14 F'15 F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F'25 1. Capital return def
Slide 27: A-EPS Performance
A-EPS Performance A-EPS(1) • Repurchased and retired: Q4 F’25 $0.97 • Q4 F’25: 5.3M common shares for $145M • F’25: 14.5M common shares for $411M Consensus A-EPS (2) Q4 F’25 $0.83 • Common Shares Outstanding(3): • Q4 F’25: 255M, -4.9% Y/Y Beat $0.14 1. Please refer to “Use of Non-GAAP Financial Meas
Slide 28: Why Invest in OpenText Today?
Why You Should Invest Why Invest • Compelling trading valuation compared to peer multiples in OpenText • Resilient and steady high cash flow generating business model • Opportunity to participate in the growth engine we are building Today? • Over $250B+ in Total Addressable Market (TAM)(1) • Launche
Slide 29: Management Q&A
Management Q&A OpenText ©2025. All rights reserved. 29
Slide 30: Appendix
Appendix OpenText ©2025. All rights reserved. 30
Slide 31: Debt Profile
Debt Profile Total Debt Q4 F’25 Additional Metrics Q4 F’25 Senior Notes 2031 $650M Total Fixed Debt % 66% Senior Notes 2030 $900M Weighted Average Interest Rate 5.1% Senior Notes 2029 $850M Annualized Interest Cost(1) $334M Senior Notes 2028 $900M Consolidated Net Leverage Ratio(2) 3.25x Senior Secu
Slide 32: OpenText ex-AMC
OpenText ex-AMC(1,2) F’25 Actual F’24 Actual F’23 Actual $ in millions Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Cloud 457 462 463 475 1,856 451 450 455 465 1,821 405 409 435 452 1,700 Customer Support 595 591 567 581 2,334 614 612 606 599 2,430 311 310 518 622 1,760 License 126 189 138 173 626 1
Slide 33: Use of Non-GAAP Financial Measures
Appendix A Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with U.S. GAAP, the Company provides certain financial measures that are not in accordance with U.S. GAAP (Non-GAAP).These Non-GAAP financial measures have certain limitations in that they do not h
Slide 34: Summary of Quarterly Results with Constant Currency
Summary of Quarterly Results with Constant Currency Q4 F’25 % Change (In millions U.S. dollars, except per share data) Q4 F’25 Q4 F’24 $ Change % Change in CC* in CC* Revenues: Cloud services and subscriptions $474.5 $464.9 $9.6 2.1 % $471.3 1.4 % Customer support 580.6 628.4 (47.8) (7.6) % 575.5 (8
Slide 35: Summary of Year to Date Results with Constant Currency
Summary of Year to Date Results with Constant Currency % Change (In millions U.S. dollars, except per share data) F’25 YTD F’24 YTD $ Change % Change F’25 in CC* in CC* Revenues: Cloud services and subscriptions $1,856.5 $1,820.5 $36.0 2.0 % $1,857.9 2.1 % Customer support 2,334.0 2,713.3 (379.3) (1
Slide 36: Reconciliation of Selected Non-GAAP Measures | Q4 F'25
Reconciliation of Selected Non-GAAP Measures | Q4 F'25 Three Months Ended June 30, 2025 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $176,198 $ (1,489) (1) $ 174,709
Slide 37: Reconciliation of Selected Non-GAAP Measures | Q4 F'25
Reconciliation of Selected Non-GAAP Measures | Q4 F'25 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of am
Slide 38: Reconciliation of Selected Non-GAAP Measures | F'25
Reconciliation of Selected Non-GAAP Measures | F'25 Year ended June 30, 2025 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 697,929 $ (8,317) (1) $ 689,612 Customer s
Slide 39: Reconciliation of Selected Non-GAAP Measures | F'25
Reconciliation of Selected Non-GAAP Measures | F'25 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of amort
Slide 40: Reconciliation of Selected Non-GAAP Measures | Q4 F'24
Reconciliation of Selected Non-GAAP Measures | Q4 F'24 Three Months Ended June 30, 2024 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 175,799 $ (2,966) (1) $ 172,833
Slide 41: Reconciliation of Selected Non-GAAP Measures | Q4 F'24
Reconciliation of Selected Non-GAAP Measures | Q4 F'24 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of am
Slide 42: Reconciliation of Selected Non-GAAP Measures | F'24
Reconciliation of Selected Non-GAAP Measures | F’24 Year Ended June 30, 2024 GAAP % of Total Non-GAAP % of (In ‘000's U.S. dollars, except per share data) GAAP Revenue Adjustments FN Non-GAAP Total Revenue COST OF REVENUES Cloud services and subscriptions $ 713,759 $ (12,858) (1) $ 700,901 Customer
Slide 43: Reconciliation of Selected Non-GAAP Measures | F'24
Reconciliation of Selected Non-GAAP Measures | F'24 FOOTNOTES 1 Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. Adjustment relates to the exclusion of amort
Slide 44: Reconciliation of Adjusted EBITDA and Free Cash Flows
Reconciliation of Adjusted EBITDA and Free Cash Flows (In '000's U.S. dollars) Q4 F’25 Q4 F’24 GAAP-based net income, attributable to OpenText $ 28,833 $ 248,229 Add: Provision for (recovery of) income taxes (17,613) 239,578 Interest and other related expense, net 81,118 102,461 Amortization of acqu
Slide 45: Reconciliation of Adjusted EBITDA and Free Cash Flows
Reconciliation of Adjusted EBITDA and Free Cash Flows (In '000's U.S. dollars) F'16 F'17 F'18 F'19 F'20 F'21 F'22 F'23 F'24 F’25 Adjusted EBITDA GAAP-based net income, attributable to OpenText $ 284,477 $ 1,025,659 $ 242,224 $ 285,501 $ 234,225 $ 310,672 $ 397,090 $ 150,379 $ 465,090 $ 435,868 Add:
Slide 46: opentext.com · twitter.com/opentext · linkedin.com/company/opentext
opentext.com · twitter.com/opentext · linkedin.com/company/opentext