Driving Shareholder Returns
Summary of Quarterly Results with Constant Currency
Q1 FY21
Q1 FY20
$ Change
% Change
Q1 FY21 in CC*
% Change
in CC*
(in millions, except per share data)
Revenues:
Cloud services and subscriptions
$341.0
$237.3
$103.7
43.7 %
$340.2
43.4 %
Customer support
329.4
312.3
17.1
5.5 %
327.1
4.8 %
Total annual recurring revenues**
$670.4
$549.6
$120.8
22.0 %
$667.3
21.4 %
License
68.5
77.9
(9.4)
(12.0) %
67.1
(13.8) %
Professional service and other
65.1
69.4
(4.3)
(6.2) %
63.6
(8.5) %
Total revenues
$804.0
$696.9
$107.1
15.4 %
$798.0
GAAP-based operating income
$182.4
$132.5
$49.8
37.6 %
N/A
Non-GAAP-based operating income (1)
$320.4
$234.0
$86.4
36.9 %
$313.9
14.5 %
N/A
34.2 %
GAAP-based EPS, diluted
$0.38
$0.27
$0.11
40.7 %
N/A
N/A
Non-GAAP-based EPS, diluted (1)(2)
$0.89
$0.64
$0.25
39.1 %
$0.87
35.9 %
GAAP-based net income, attributable to OpenText
$103.4
$74.4
$29.0
38.9 %
N/A
N/A
Adjusted EBITDA(1)
$342.3
$254.2
$88.1
34.7 %
$335.7
32.1 %
Operating cash flows
$233.9
$137.4
$96.5
70.2 %
N/A
N/A
Free cash flows (1)
$218.6
$118.8
$99.8
84.0 %
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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