Total Growth Model: Cloud and ARR Growth
Summary of Quarterly Results with Constant Currency
(In millions U.S. dollars, except per share data)
Revenues:
Cloud services and subscriptions
Q2 FY'24
Q2 FY'23
$ Change
% Change
Q2 FY'24
in CC*
% Change
in CC*
$450.1
$408.7
$41.4
10.1 %
$446.1
9.2 %
Customer support
Total annual recurring revenues**
License
Professional service and other
695.8
316.5
379.3
119.8 %
$1,145.9
$725.2
$420.7
58.0 %
682.3
$1,128.4
115.6 %
55.6 %
289.2
108.0
181.3
167.9 %
283.6
162.7 %
99.8
64.3
35.5
55.2 %
97.3
51.3 %
Total revenues
$1,534.9
$897.4
$637.4
71.0 %
$1,509.3
68.2 %
GAAP-based operating income
$253.9
$184.7
$69.2
37.5 %
N/A
N/A
Non-GAAP-based operating income (1)
$532.9
$318.1
$214.8
67.5 %
$517.0
62.5 %
GAAP-based net income (loss), attributable to OpenText
$37.7
$258.5
($220.8)
(85.4) %
N/A
N/A
GAAP-based EPS, diluted
$0.14
$0.96
($0.82)
(85.4) %
N/A
N/A
Non-GAAP-based EPS, diluted (1) (2)
$1.24
$0.89
$0.35
39.3 %
$1.20
34.8 %
Adjusted EBITDA (1)
$566.3
$340.9
$225.3
Operating cash flows
$350.7
$195.2
$155.5
66.1 %
79.7 %
$549.7
61.2 %
N/A
N/A
Free cash flows (1)
$305.4
$163.0
$142.5
87.4 %
N/A
N/A
(1) See reconciliation of GAAP-based measures to Non-GAAP-based measures at the end of this presentation.
(2) Please also see Note 14 to the Company's Fiscal 2018 Consolidated Financial Statements on Form 10-K. Reflective of the amount of net tax benefit arising from the internal reorganization assumed to be allocable
to the current period based on the forecasted utilization period.
Note: Individual line items in table may be adjusted by non-material amounts to enable totals to align to published financial statements.
*CC: Constant Currency for this purpose is defined as the current period reported revenues/expenses/earnings represented at the prior comparative period's foreign exchange rate.
**
Annual recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue.
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