OPEN TEXT CORP
For the period ended Dec 31, 2023. Filed Feb 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 1, 2024
OTEX$24.56-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
(In thousands of U.S. dollars, except share and per share data)
| Three Months EndedDecember 31, | Six Months EndedDecember 31, | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Revenues (Note 3): | ||||
| Cloud services and subscriptions | $450,091 | $408,674 | $901,105 | $813,325 |
| Customer support | 695,762 | 316,508 | 1,393,475 | 633,859 |
| License | 289,238 | 107,960 | 462,264 | 170,508 |
| Professional service and other | 99,777 | 64,298 | 203,453 | 131,784 |
| Total revenues | 1,534,868 | 897,440 | 2,960,297 | 1,749,476 |
| Cost of revenues: | ||||
| Cloud services and subscriptions | 180,148 | 134,314 | 351,560 | 266,113 |
| Customer support | 73,374 | 28,589 | 148,388 | 55,943 |
| License | 5,983 | 3,863 | 9,822 | 6,621 |
| Professional service and other | 75,459 | 54,064 | 155,381 | 107,864 |
| Amortization of acquired technology-based intangible assets (Note 8) | 70,784 | 40,863 | 147,608 | 83,500 |
| Total cost of revenues | 405,748 | 261,693 | 812,759 | 520,041 |
| Gross profit | 1,129,120 | 635,747 | 2,147,538 | 1,229,435 |
| Operating expenses: | ||||
| Research and development | 220,220 | 109,700 | 454,657 | 219,898 |
| Sales and marketing | 280,263 | 177,171 | 552,064 | 344,341 |
| General and administrative | 173,264 | 77,603 | 304,475 | 155,677 |
| Depreciation | 33,415 | 22,858 | 67,506 | 46,032 |
| Amortization of acquired customer-based intangible assets (Note 8) | 113,925 | 53,446 | 234,117 | 107,884 |
| Special charges (recoveries) (Note 18) | 54,166 | 10,306 | 67,960 | 24,587 |
| Total operating expenses | 875,253 | 451,084 | 1,680,779 | 898,419 |
| Income from operations | 253,867 | 184,663 | 466,759 | 331,016 |
| Other income (expense), net (Note 22) | (68,784) | 163,349 | (48,614) | (25,882) |
| Interest and other related expense, net | (139,292) | (38,715) | (281,056) | (79,097) |
| Income before income taxes | 45,791 | 309,297 | 137,089 | 226,037 |
| Provision for income taxes (Note 15) | 8,054 | 50,774 | 18,406 | 84,399 |
| Net income for the period | $37,737 | $258,523 | $118,683 | $141,638 |
| Net (income) attributable to non-controlling interests | (62) | (37) | (107) | (81) |
| Net income attributable to OpenText | $37,675 | $258,486 | $118,576 | $141,557 |
| Earnings per share—basic attributable to OpenText (Note 23) | $0.14 | $0.96 | $0.44 | $0.52 |
| Earnings per share—diluted attributable to OpenText (Note 23) | $0.14 | $0.96 | $0.44 | $0.52 |
| Weighted average number of Common Shares outstanding—basic (in '000's) | 271,568 | 270,189 | 271,373 | 269,997 |
| Weighted average number of Common Shares outstanding—diluted (in '000's) | 272,141 | 270,189 | 272,019 | 270,009 |
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