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Reconciliation of Adjusted EBITDA and Free Cash Flows
(In '000's U.S. dollars)
FY'13
FY'18
FY'19
FY'20
FY'21
Adjusted EBITDA
GAAP-based net income, attributable to
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Add:
Provision for (recovery of) income taxes
Interest and other related expense, net
Amortization of acquired technology-based
intangible assets
Amortization of acquired customer-based
intangible assets
Depreciation
Share-based compensation
Special charges (recoveries)
Other (income) expense, net
Adjusted EBITDA
Total revenue
GAAP-based net income margin
Adjusted EBITDA margin (% of total revenue)
Free Cash Flows
GAAP-based cash flows provided by operating
activities (1)
Add:
Capital expenditures (2)
Free cash flows
opentext™
29,690
16,982
93,610
58,461
27,934
69,917
68,745
81,023
24,496
35,237
15,575
19,906
24,034
31,314
2,473
(3,941)
424,125 $ 537,976
$ 1,363,336
FY'14
$ 148,520 $ 218,125 $ 234,327 $ 284,477 $ 1,025,659 $ 242,224 $ 285,501 $ 234,225 $ 310,672
6,282
76,363
(776,364)
120,892
143,826
138,540
74,238
185,868
113,201
184,118
54,929
86,943
25,978
27,594
34,846
29,211
(17,973)
1,423
$ 1,020,351
10.9 %
31.1 %
$ 318,502
$ 1,624,699
13.4 %
33.1 %
417,096
FY'15
(23,107)
(42,268)
$ 295,395 $ 374,828
31,638
54,620
81,002
108,239
50,906
22,047
12,823
28,047
$ 623,649
1,851,917
12.7 %
33.7 %
522,055
FY'16
(77,046)
445,009
FY'17
$ 1,824,228
150,842
64,318
30,507
63,618
(15,743)
$ 671,737 $ 794,285
15.6 %
36.8 %
130,556
$ 2,291,057
44.8 %
34.7 %
$ 2,815,241
(70,009)
(79,592)
$ 453,654 $ 360,761
8.6 %
36.2 %
523,663 $ 440,353 $ 708,081
154,937
136,592
183,385
189,827
97,716
26,770
35,719
(10,156)
$ 1,100,291
$ 2,868,755
10.0 %
38.4 %
876,278
110,837
146,378
205,717
219,559
89,458
29,532
100,428
11,946
$ 1,148,080
$ 3,109,736
7.5 %
36.9 %
954,536
339,906
151,567
218,796
216,544
85,265
51,969
1,748
(61,434)
$ 1,315,033
$ 3,386,115
9.2 %
38.8 %
876,120
(105,318)
(63,837)
(72,709)
(63,675)
$ 602,763 $ 812,441 $ 881,827 $ 812,445
(1) Effective July 1, 2018, we adopted ASU No. 2016-18 using the retrospective method. Fiscal years 2014-2020 have been adjusted retrospectively to conform to current period presentation while fiscal
years 2012-2013 are presented prior to adoption of ASU 2016-18.
(2) Defined as "Additions of property & equipment" in the Consolidated Statements of Cash Flows
FY'22
$ 397,090
118,752
157,880
198,607
217,105
88,241
69,556
46,873
(29,118)
$ 1,264,986
$ 3,493,844
11.4 %
36.2 %
981,810
(93,109)
$ 888,701
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