Open Text Corp - OTEX STOCK NEWS

OpenText (NASDAQ: OTEX) announced its upcoming Information Reimagined Summits in London (April 1, 2025) and Munich (April 3, 2025), focusing on Business AI, Business Clouds, and Business Security. CEO Mark J. Barrenechea will keynote both events, which will showcase transformative solutions and new threat detection platforms.

The summits will feature industry leaders and customer success stories from companies like Aldi Stores, BAE Systems, Zurich Airport, and Bayer AG. Key topics include AI adoption, cyber threat evolution, digital transformation, and IT service management. OpenText will detail its strategy to achieve $1 billion in savings over the next decade through innovation and IT optimization.

Notable speakers include neuroscientist Dr. Henning Beck and Sue Daley, OBE, from TechUK. OpenText executives including Savinay Berry, Sandy Ono, and Todd Cione will present at both events.

OpenText (NASDAQ: OTEX) has announced a significant expansion of its share repurchase program, increasing the previously announced Fiscal 2025 normal course issuer bid (NCIB) by US$150 million to US$450 million. The maximum number of Common Shares eligible for repurchase remains at 21,179,064 shares.

The company has already purchased approximately 8.9 million Common Shares for US$258 million since the program's inception. The NCIB will be active from August 7, 2024, to August 6, 2025. OpenText has also established an automatic share purchase plan (ASPP) with its broker, effective March 14, 2025, to facilitate share repurchases during periods when the company would typically be restricted from making purchases.

OpenText (NASDAQ: OTEX) announces its participation at HIMSS 2025 in Las Vegas, showcasing innovative healthcare solutions. The company addresses critical challenges facing healthcare providers, including fragmented communications, paper-based workflows, and cybersecurity threats. According to cited studies, only 53% of healthcare leaders are satisfied with data quality management, while over 70% of centers report staffing shortages.

The company will demonstrate new solutions including:

• OpenText Core Messaging - a CPaaS solution for unified communications across multiple channels
• Process Automation - for streamlined workflows with AI-assisted development
• Fax and Capture solutions - for secure digital transmissions and document management
• Information Archive - for consolidating patient data while maintaining HIPAA compliance

OpenText (NASDAQ: OTEX) has appointed Chadwick Westlake as Executive Vice President and Chief Financial Officer, effective March 5, 2025. Westlake, who previously served as CFO of EQB Inc. and held executive positions at Scotiabank, succeeds Madhu Ranganathan after her seven-year tenure.

The appointment aligns with OpenText's strategic focus on total revenue growth, competitive advantage, margin expansion, free cash flow growth, and upper quartile capital returns. At EQB Inc., Westlake led corporate strategy, development, and financial management, while his previous role at Scotiabank involved leading a global cost transformation program.

Based in Richmond Hill, Ontario, Westlake will contribute to OpenText's next growth phase, leveraging the company's global operating model and focus on customer experiences to drive efficiencies and deliver strong results for Fiscal 2026 and beyond.

OpenText (NASDAQ: OTEX) has launched Webroot Total Protection, a comprehensive cybersecurity solution designed to protect individuals and families' digital lives. The all-in-one platform combines device security, identity protection, VPN, parental controls, and unlimited cloud backup features.

The launch comes amid rising cyber threats, with data breaches exposing 1.7 billion individuals' personal information in 2024, marking a 312% increase from the previous year. According to the 2024 ITRC report, cyberattacks were responsible for 80% of these compromises.

Key features include protection against phishing, malware, and ransomware, identity protection for up to 10 individuals with $1 million fraud expense reimbursement, VPN services, and unlimited cloud backup. The product is launching with a 50% introductory discount off MSRP.

OpenText (NASDAQ: OTEX) has announced the launch of OpenText Core Threat Detection and Response, a new AI-powered cybersecurity solution set for general availability with Cloud Editions 25.2. The solution, available on Microsoft Azure, integrates with Microsoft security tools and features advanced threat hunting capabilities.

The platform addresses both external and insider threats, with the latter costing organizations an average of $16.2 million annually according to the 2023 Cost of Insider Risks Global Report. The solution leverages hundreds of AI algorithms for enhanced detection accuracy and features adaptive learning capabilities that evolve with each organization's unique environment.

Key features include elevated security posture, rapid threat detection and elimination, adaptive learning, simplified deployment with Microsoft integration, and cost prevention measures. The solution is currently available as a release to select customers through an early adopter program.

OpenText (NASDAQ: OTEX) reported its Q2 FY2025 financial results with total revenues of $1.335 billion, marking a 13.1% year-over-year decline. Despite this, the company achieved positive metrics including:

- Cloud revenues increased by 2.7% to $462 million
- GAAP net income of $230 million, up 510.1% Y/Y
- Adjusted EBITDA of $501 million with a 37.6% margin
- Operating cash flows of $348 million and free cash flows of $307 million
- GAAP EPS of $0.87 and Non-GAAP EPS of $1.11

The company maintained its shareholder returns through a quarterly dividend of $0.2625 per share and repurchased $66 million worth of shares during Q2. Annual recurring revenues represented 79% of total revenues, though they decreased 8.1% Y/Y to $1.053 billion.

OpenText (NASDAQ: OTEX) has been recognized as one of Canada's Best Employers 2025 by Forbes for the fifth consecutive year. The recognition, determined in partnership with Statista, acknowledges organizations excelling in work flexibility, professional development, and growth opportunities.

The company has also received other notable accolades, including being named one of the Waterloo Area's Top Employers for the 15th consecutive year and one of Canada's Top Employers for Young People for the fourth consecutive year by Canada's Top 100.

Founded in Waterloo, Ontario in 1991, OpenText originated from a collaboration between the University of Waterloo and Oxford University to create the first online Oxford English Dictionary. The company offers comprehensive employee benefits including education reimbursement, paid volunteer days, retirement and stock purchase plans, and wellness reimbursement programs.

OpenText (NASDAQ: OTEX) has announced the appointment of Savinay Berry as EVP & Chief Product Officer. Berry, who previously led Products and Engineering at Vonage, will spearhead product innovation across the company's data-oriented domains. Additionally, Muhi Majzoub has transitioned to a new role as EVP, Security Products, to enhance the company's focus on cybersecurity.

Berry brings extensive experience in technology and engineering from global software leadership positions. His expertise spans cloud applications, developer platforms, AI, and security. In his new role, he will focus on advancing OpenText's position in information management, helping customers leverage connected data across content management, digital experience, business network, digital operations, DevOps, and analytics.

The company emphasizes the strategic importance of AI transformation in information management, particularly regarding data security, organization, and AI readiness for customer growth and efficiency.