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  "documentTitle": "OpenText | Investor Presentation Deck | 42 slides",
  "authorId": "opentext",
  "authorName": "OpenText",
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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-11-01 00:00:00",
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  "pageNumber": 11,
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      "text": "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.\n2. Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate.\n3. This model is not guidance.\n4. Reflects the acquisition of Zix Corporation.",
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      "text": "Revenue Type:\nCloud Services and Subscriptions: 43.9% (2022), 46% - 48% (2023)\nCustomer Support: 38.1% (2022), 35% - 37% (2023)\nAnnual Recurring Revenue (ARR): 82.0% (2022), 82% - 84% (2023)\nLicense: 10.3% (2022), 8% - 10% (2023)\nProfessional Services and Other: 7.7% (2022), 7% - 9% (2023)\nNon-GAAP Gross Margin (1):\nCloud Services and Subscriptions: 67.0% (2022)\nCustomer Support: 91.1% (2022)\nLicense: 96.2% (2022)\nProfessional Services and Other: 20.9% (2022)\nNon-GAAP Gross Margin (1): 75.6% (2022), 75% - 77% (2023)\nNon-GAAP Operating Expenses:\nResearch & Development: 12.1% (2022), 12% - 14% (2023)\nSales & Marketing: 18.7% (2022), 18% - 20% (2023)\nGeneral & Admin: 8.5% (2022), 7% - 9% (2023)\nDepreciation: 2.5% (2022), 2% - 4% (2023)\nTotal Operating Expenses: 41.9% (2022), 42% - 44% (2023)\nA-EBITDA Margin (1): 36.2% (2022), 36.0% - 36.5% (2023)\nInterest and Other Related Expense (USD millions): $157.9 (2022), $170 - $180 (2023)\nAdjusted Tax Rate (2): 14.0% (2022), 14.0% (2023)\nCapital Expenditures (USD millions): $93.1 (2022), $80 - $90 (2023)",
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      "kind": "title",
      "text": "FY'23 Target Model",
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      "name": "Cost Of Inaction",
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      "evidence": "The presentation highlights the challenges and opportunities in the market, and how OpenText's solutions can address them.",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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