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Open Text Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary5 Feb, 2026
Executive summary
Q2 FY26 revenue was $1.33B, down 0.6% year-over-year, with cloud revenue up 3.4% to $478M and enterprise cloud bookings up 18% to $295M.
Annual recurring revenue reached $1.06B, representing about 80% of total revenue, with a stable cloud net renewal rate of 95%.
Net income was $168M (12.7% margin), down 26.9% year-over-year; adjusted EBITDA was $491M (37.0% margin).
Leadership transition announced with Ayman Antoun appointed CEO, and divestitures of Vertica for $150M and eDOCS for $163M completed.
Focused on core, faster-growing content cloud and AI businesses, with strong customer engagement and positive feedback on new AI solutions.
Financial highlights
GAAP gross margin was 74.0%, non-GAAP gross margin 77.6%, both improved year-over-year.
Adjusted EBITDA margin was 37.0% for the quarter; free cash flow was $279M, down 8.9% year-over-year.
Non-GAAP net income was $286M, down 2.4% year-over-year; non-GAAP diluted EPS was $1.13, up 1.8%.
License revenue fell 2.5% to $184M; professional services and other revenue dropped 11% to $83M.
Cash and cash equivalents stood at $1.27B as of December 31, 2025.
Outlook and guidance
FY26 total revenue growth expected at 1–2%, with cloud services and subscriptions growth of 3–4%.
Q3 revenue guidance is $1.26B–$1.28B, reflecting the eDOCS divestiture.
Adjusted EBITDA margin expected to expand by 50–100 bps; free cash flow growth forecasted at 17–20%.
Enterprise cloud bookings projected to grow 12–16% year-over-year.
Guidance includes a $15M revenue reduction in the second half of FY2026 due to the eDOCS divestiture.
Future divestiture pace and valuation outlook?
Customer readiness for Agentic AI with proprietary data?
Cloud migration: revenue dip anticipated?
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Next Open Text earnings date
Q3 202630 Apr, 2026
Open Text
Next Open Text earnings date
Q3 202630 Apr, 2026
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Open Text Corporation develops and markets enterprise information management software. Its products and services support content services, cybersecurity, digital experience, and business networking for organizations across industries. The company is headquartered in Waterloo, Canada, and its shares are listed on the NASDAQ.
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