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Aug 5, 2022

OpenText reports record 2022 revenue of $3.5B

We're evaluating over 1,000 companies for acquisition potential as we continue to grow: OpenText CEO

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Waterloo-based tech company OpenText says it earned $102.2 million in the three months ended June 30, a 43.6 per cent decline from the previous year's quarter even as it achieved record revenue of $3.5 billion for its full 2022 fiscal year.

The company says its fourth-quarter profit amounted to 38 cents per diluted share, down from 66 cents in the fourth quarter of fiscal 2021.

On an adjusted basis, OpenText earned $313.6 million in the fourth quarter, compared to $314.8 million during the same period in 2021.

The company's fourth-quarter revenues were $902 million, a one per cent increase from the prior year's quarter. 

OpenText's revenue from cloud services and subscriptions increased 14 per cent year-over-year from $360.2 million to $411.6 million.

OpenText says for the full fiscal year 2022, the company achieved record cloud revenues and cloud bookings. It says 82 per cent of its total revenues were annual recurring revenues.