Open Text Corp Q2 2026 results

In this past week, we announced that we had entered into an agreement to divest Vertica to Rocket Software for $150,000,000. We ended off the quarter with a solid performance beating our own expectations on total revenues, Adjusted EBITDA margin, and adjusted EPS. However, I would like to highlight that in Q2, we generated total revenues of approximately $1,330,000,000 led by overall cloud growth of 3.4% year-over-year. We continue to see strong enterprise cloud bookings of $295,000,000 or growth of 18% year-over-year.

And if you look specifically at cloud revenue for content, it grew 18% year-over-year. Content, which is our largest and fastest-growing business, continues to demonstrate strength, and it also leads to our cloud growth. There is no change to our F26 revenue target of 1%-2% growth year-over-year. I would like to turn to some of our customer wins in the quarter that highlight the growth trajectory of our core business.

Turning to our FY26 outlook, as I mentioned, we are reaffirming our total revenue growth of 1%-2% year-on-year. Our expectation for FY26 year-on-year customer support and ARR growth, as well as enterprise cloud bookings, also remain unchanged. To summarize, we are really excited about our cloud growth in our core product groups, especially in Content, our largest and fastest-growing business. OpenText maintains a strong financial position, and I am very optimistic about the strategy we're executing to pivot the company to higher growth with a solid margin and free cash flow profile.