{ "docId": "019de517-782d-717c-a78a-070bc20ca4e3", "docSlug": "96aa928b85795e5d6c0f4c66ff040f20", "documentTitle": "OpenText | Investor Presentation Deck | 45 slides", "authorId": "opentext", "authorName": "OpenText", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-11-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 35, "pageCount": 45, "prevPage": 34, "nextPage": 36, "slideType": "appendix", "function": "appendix", "density": "overcrowded", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de517-782d-717c-a78a-070bc20ca4e3/35", "deckHref": "/decks/019de517-782d-717c-a78a-070bc20ca4e3", "deckJsonHref": "/decks/019de517-782d-717c-a78a-070bc20ca4e3.json", "deckAnchorHref": "/decks/019de517-782d-717c-a78a-070bc20ca4e3#slide-35", "components": [ { "bbox": { "h": 0.016, "w": 0.08, "x": 0.038, "y": 0.94 }, "kind": "image", "text": null, "attrs": null, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f83ffdf6-1405-4fd2-a25d-84a1d4e8ffa8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.709, "w": 0.304, "x": 0.654, "y": 0.156 }, "kind": "list", "text": "Slide 30\n(1) Projected as of November 2, 2023; this model is not guidance.\n(2) 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.\n(3) Enterprise cloud bookings is the total value from cloud services and subscription contracts entered into in the fiscal year that are new, committed and incremental to our existing contracts, entered into with our enterprise-based customers.\n(4) Organic revenue growth is calculated by removing the revenue contribution from newly acquired companies for the first year post acquisition.\n(5) 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.\n(6) FCF on a reported basis.\n(7) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(8) Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate.\nSlide 31\n(1) As of November 2, 2023. Estimates represent when savings, expenses and charges are expected to be substantially actioned or incurred. Subject to change.\n(2) 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.\n(3) Actioned includes notified.\nSlide 32\n(1) Revenues and Enterprise Cloud Bookings % are year-over-year comparisons.\n(2) Enterprise cloud bookings as the total value from cloud services and subscription contracts entered into in the fiscal year that are new, committed and incremental to our existing contracts, entered into with our enterprise-based customers.\n(3) Organic revenue growth is calculated by removing the revenue contribution from newly acquired companies for the first year post acquisition.\n(4) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(5) 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.\n(6) FCF is on a reported basis.\n(7) Declaration of dividend subject to board discretion. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases, or other initiatives.\n(8) Please refer to historical filings, including our Forms 10-K and 10-Q, regarding the company's adjusted tax rate.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1a8f1176-f3c9-4921-8c20-98eaaaa6eb39", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.709, "w": 0.304, "x": 0.346, "y": 0.156 }, "kind": "list", "text": "Slide 21\n(1) Enterprise cloud bookings is the total value from cloud services and subscription contracts entered into in the fiscal year that are new, committed and incremental to our existing contracts, entered into with our enterprise-based customers.\n(2) Organic revenue growth is calculated by removing the revenue contribution from newly acquired companies for the first year post acquisition.\n(3) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\nSlide 23\n(1) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(2) 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.\n(3) Renewal rate excludes Carbonite, Zix and Micro Focus.\nSlide 24\n(1) Enterprise cloud bookings as the total value from cloud services and subscription contracts entered into in the fiscal year that are new, committed and incremental to our existing contracts, entered into with our enterprise-based customers.\n(2) 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.\n(3) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(4) 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.\n(5) Renewal rate excludes Carbonite, Zix and Micro Focus.\nSlide 26\n(1) Term Loan B and Acquisition Term Loan are net of mandatory debt repayments.\n(2) 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.\n(3) Consolidated Net Leverage Ratio (proforma) is calculated using bank covenant methodology.\nSlide 27\n(1) As of September 30, 2023.\n(2) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(3) Represents Micro Focus stand-alone renewal rates.\n(4) Renewal rate excludes Carbonite, Zix and Micro Focus.\nSlide 29\n(1) Annual Recurring Revenues (ARR) is defined as the sum of cloud services and subscriptions revenues and customer support revenues.\n(2) 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.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2a84006f-5983-41f0-9ead-2225ca5588a3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.699, "w": 0.406, "x": 0.038, "y": 0.186 }, "kind": "list", "text": "Slide 4\n(1) Estimates (dollars in US$ billions) based on market reports from independent industry analysis firms including Gartner and IDC.\n(2) 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.\n(3) Enterprise cloud bookings is the total value from cloud services and subscription contracts entered into in the fiscal year that are new, committed and incremental to our existing contracts, entered into with our enterprise-based customers.\n(4) Organic growth is calculated by removing the revenue contribution from newly acquired companies for the first-year post acquisition.\n(5) 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.\n(6) Free Cash Flows on a reported basis.\nSlide 13\n(1) Declaration of dividend subject to board discretion. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases, or other initiatives.\nSlide 14\n(1) Organic revenue growth is calculated by removing the revenue contribution from newly acquired companies for the first year post acquisition.\n(2) Constant currency is defined as the current period reported revenues represented at the prior comparative period's foreign exchange rate.\nSlide 19\n(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.\n(2) Represents OpenText's F'26 Total Revenues aspiration in constant currency.\n(3) Represents OpenText's F'26 Adjusted EBITDA and A-EBITDA margin aspiration in constant currency.\n(4) Represents OpenText's F'26 Free Cash Flows aspiration on a reported basis.\nSlide 20\n(1) Based on F'13 to F'23 cumulative dividends paid, and common shares repurchased.\n(2) Compound annual growth in dividends paid from F'13 to F'23.\n(3) Targeting annualized dividend of $1.00 per share, subject to quarterly Board approval. Assumes weighted average common share count of 273.1 million for F'24.\n(4) Targeting dividends at rate of approximately 20% of TTM Free Cash Flow. Declaration of dividend subject to Board discretion. Strategy subject to change based on acquisition opportunities or other corporate purposes. Corporate purposes may include acquisitions, debt repayment, share repurchases, or other initiatives.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "63ab4e60-a731-479f-866b-e9e2f704d811", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.016, "w": 0.406, "x": 0.038, "y": 0.156 }, "kind": "paragraph", "text": "Throughout this presentation, certain numbers are approximate and may not foot due to rounding.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9498acef-44e3-45b7-97a9-c04b5d06b634", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.016, "w": 0.09, "x": 0.829, "y": 0.94 }, "kind": "source-note", "text": "© 2023 Open Text", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "235b34d0-b245-4203-94d0-31c677320902", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.016, "w": 0.018, "x": 0.94, "y": 0.94 }, "kind": "source-note", "text": "35", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b35b7a51-c195-4e61-afbf-52e54b3b8725", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.201, "x": 0.038, "y": 0.07 }, "kind": "title", "text": "Slide Notes", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "046e66d4-6186-4537-aafc-bb7e8289ccb7", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }