Market Expansion and Value Creation
Summary of Year to Date Results with Constant Currency
% Change
in CC*
$1,700.4
1,915.0
(In millions U.S. dollars, except per share data)
FY'23
FY'22
$ Change
% Change
FY'23 in CC*
Revenues:
Cloud services and subscriptions
Customer support
$1,535.0
$165.4
10.8 %
$1,739.1
13.3 %
1,331.0
584.1
43.9 %
1,978.8
48.7 %
Total annual recurring revenues
**
$3,615.4
$2,866.0
$749.5
26.2 %
$3,717.9
29.7 %
License
539.0
358.4
180.7
50.4 %
555.4
55.0 %
Professional service and other
330.5
269.5
61.0
22.6 %
344.1
27.7 %
Total revenues
$4,485.0
$3,493.8
$991.1
GAAP-based operating income
$516.3
$644.8
($128.5)
28.4 %
(19.9) %
$4,617.4
32.2 %
N/A
N/A
Non-GAAP-based operating income (1)
$1,365.3
$1,176.9
$188.4
16.0 %
$1,387.5
17.9 %
GAAP-based net income, attributable to OpenText
$150.4
$397.1
($246.7)
(62.1) %
N/A
N/A
GAAP-based EPS, diluted
$0.56
$1.46
($0.90)
(61.6) %
N/A
N/A
Non-GAAP-based EPS, diluted (1)(2)
$3.29
$3.22
$0.07
2.2 %
$3.37
4.7 %
Adjusted EBITDA (1)
$1,472.9
$1,265.0
$207.9
Operating cash flows
$779.2
$981.8
($202.6)
Free cash flows (1)
$655.4
$888.7
($233.3)
16.4 %
(20.6) %
(26.3) %
$1,495.8
18.2 %
N/A
N/A
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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