OpenText Investor Presentation Deck
Track Record of Free Cash Flows (FCF) Expansion
Expected Acceleration in Free Cash Flows
In $Millions
$187
$241
F'11A F'12A
$295
$375
15.2%
F'11 to F'22 CAGR
opentext™
$446 $454
F'13A F'14A F'15A
F'16A
$361
$603
$812
$882
Cloud Acquisition
Investment integration
$812
Estimated Free Cash Flows
Updated
$889 $800 to $900
F'17A F'18A F'19A F'20A F'21A F'22A
$580 to
$620
(2)
F'23E F'24E
(2)
$1.5B+
Target
F'26E (2)
20%+
FCF as %
of Revenue
(1)
FCF Growth
Track record of
upper-quartile FCF
Non-linear scale through investment
in systems and automation
Bring Micro Focus onto OpenText's
Operating Model
1. Please refer to "Use of Non-GAAP Financial Measures" at the end of this presentation and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and historical filings
on Forms 10-Q, 10-K and 8-K. Historical data on a reported basis.
2. F'23, F'24, and F'26 represents OpenText's estimate of Free Cash Flows in reported currency, including Micro Focus.
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