OpenText earnings: guidance and what to watch
OpenText’s next results are expected on November 5, 2026. Watch whether collections, core cloud demand and seller productivity turn the investment into operating progress.
What has OpenText guided for FY2027?
For FY2027, management guides to 2.0–3.0% constant-currency growth in Core categories. It guides to 8.0–10.0% Core cloud growth. Reported revenue is expected to decline 1.0–2.0%. The plan calls for US$100–200 million of growth investment, including 300 quota-carrying sales colleagues. Management guides to a 32.0–33.0% adjusted EBITDA margin and US$625–725 million of free cash flow.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Total revenues (as reported) | Year to Jun 2027 | 5,135 | 5,185 | Aug 6, 2026 |
| Total revenues growth from Content, Business Network, ITOM, and Cybersecurity (Enterprise) product categories in constant currency (Non-GAAP) | Year to Jun 2027 | 2.0% | 3.0% | Aug 6, 2026 |
| Total cloud services and subscriptions revenues growth from Content, Business Network, ITOM, and Cybersecurity (Enterprise) product categories in constant currency (Non-GAAP) | Year to Jun 2027 | 8.0% | 10.0% | Aug 6, 2026 |
| Adjusted EBITDA Margin (Non-GAAP) | Year to Jun 2027 | 32.0% | 33.0% | Aug 6, 2026 |
| Free Cash Flows (Non-GAAP) | Year to Jun 2027 | 625 | 725 | Aug 6, 2026 |
How has OpenText’s revenue and profit trended over the last eight quarters?
The last eight quarters show gradual cloud progress, not a company-wide acceleration. Support remained a drag, while licence sales made individual quarters uneven. The specialist’s question is whether cloud growth, renewals and constant-currency revenue can eventually overcome the legacy decline.
OpenText’s direct profitability improved, but reported earnings still carry the marks of an acquisition-heavy company.
What should OpenText investors watch on November 5, 2026?
On November 5, 2026, OpenText reports the September quarter. The important evidence will be collections, core cloud demand and seller productivity, not just revenue against quarterly guidance. Because management plans to stop reporting enterprise cloud bookings separately, current remaining performance obligations, or cRPO, will become more important. cRPO is contracted revenue expected within roughly the next year, but it is not cash.