Open Text Corp (OTEX) News & EventsOTEXOpen Text Corp

Velo3D Borrow Rate Increases to 5.28%

Latest data shows the largest indicative borrow rate increases among liquid option names include: Velo3D Inc (VELO) 5.28% +1.71, Lifevantage (LFVN) 247.05% +1.40, OpenText (OTEX) 3.01% +1.02, SPDR S&P Biotech (XBI) 2.95% +0.66, Merlin Inc (MRLN) 41.15% +0.62, Draganfly (DPRO) 9.90% +0.61, Americas Silver (USAS) 1.26% +0.47, Vivopower Plc (VIVO) 17.60% +0.40, Critical Metals Corp (CRML) 27.65% +0.40, and Applix Inc. (APLX) 15.87% +0.36.

OpenText Reports Q3 Revenue of $1.28B, Exceeding Expectations

Reports Q3 revenue $1.28B, consensus $1.27B. Former interim CEO and CCO James McGourlay said, "OpenText had a strong quarter, driven by 6.6% year-over-year revenue growth in our cloud business as our clients continue to manage and secure their data for enterprise AI. As large enterprises move to the cloud, we enable choice and flexibility to help them innovate, while meeting data regulation requirements. I am pleased to welcome Ayman Antoun as OpenText's Chief Executive Officer, and I look forward to working closely with him as we remain focused on delivering solutions that support our clients' success." "Operational discipline supported our resilient business model delivering solid margin and free cash flow performance in the quarter," said Steve Rai, CFO. "Our strong cash flow and capital allocation flexibility enabled the repurchase and cancellation of 9.7 million shares in Q3. We ended the quarter with 242.2 million shares outstanding, a reduction of 6.7% year-over-year."

OpenText Appoints James McGourlay as President and Chief Client Officer

Open Text announced that James McGourlay will transition from Interim CEO to President, Chief Client Officer, effective April 20. McGourlay has held senior leadership roles across sales, customer operations, and executive management at OpenText. Most recently, as Interim CEO, he provided leadership continuity while maintaining a strong focus on client engagement, execution, and strategic priorities. The company also announced that effective April 20, Paul Duggan will be stepping down from his position as President, Chief Customer Officer and will continue to serve as Executive Vice President, Special Advisor. Duggan will also remain a member of the OpenText Executive Leadership Team until his departure from OpenText on July 1.