Open Text Corp (OTEX) · Nov 5, 2026 · Earnings

OpenText earnings beat EPS as recurring revenue shrinks

Beat — Non-GAAP EPS $1.05 vs roughly $0.92-$0.94 consensus

OpenText earnings beat adjusted-EPS expectations, but falling ARR, revenue and EBITDA show the AI transition has not yet restored growth.

OpenText is in a transition year: it is trying to turn a large, acquisition-built enterprise software portfolio into a faster-growing cloud and AI platform while finishing its cost-reduction program and paying down debt. Its prior outlook already anticipated roughly flat-to-declining reported revenue, with growth expected to come from the core portfolio on a constant-currency basis.

The quarter cleared the earnings bar, but not with broad operating momentum. Non-GAAP diluted EPS of $1.05 was above published Q1 estimates of roughly $0.92-$0.94, while revenue of $1.237 billion was broadly around the $1.22-$1.24 billion expectation range.

	Q1 FY’27	Q1 FY’26	Consensus
Total revenues (Financial Highlights)	$1,237M (-4.0%)	$1,288M	~$1,220M-$1,240M
Cloud services and subscriptions (Financial Highlights)	$505M (+4.3%)	$485M
Total annual recurring revenues (Financial Highlights)	$1,040M (-3.0%)	$1,071M
Non-GAAP diluted EPS (Financial Highlights)	$1.05	$1.05	~$0.92-$0.94
Adjusted EBITDA (Financial Highlights)	$442M (-5.3%)	$467M
Operating cash flow (Financial Highlights)	$172M (+16.6%)	$148M
Free cash flow (Financial Highlights)	$139M (+36.8%)	$101M

Cloud growth is real, but it is not yet large enough to offset the legacy decline. Cloud services and subscriptions rose 4.3%, yet client support fell 9.0%, licenses fell 8.0%, professional services fell 11.0%, and total ARR declined 3.0%. That means the central AI-and-cloud investment thesis is progressing selectively, while the older maintenance-heavy base continues to contract. The filing describes the quarter as reflecting “the strength of our core portfolio,” but the recurring-revenue numbers show that the portfolio is still shrinking overall.

Cash generation and capital structure were the clear bright spots. Operating cash flow rose to $172 million and free cash flow to $139 million, helped partly by working-capital movements, while management said it completed a $1.0 billion refinancing and repaid $300 million through a tender offer after quarter-end. The company also declared a quarterly dividend of $0.280, up from $0.275 previously. This improves financial flexibility and supports the debt-reduction story, but it does not solve the underlying growth problem.

The next strategic proof point is now clearly defined. OpenText plans to use its February 10, 2027 Investor Day to present the results of its enterprise assessment, including its strategic priorities, growth initiatives and financial framework. That event matters because this quarter shows cost and cash discipline, but not yet a convincing return to broad-based organic growth.

Bottom line: OpenText beat the earnings benchmark and generated better cash, but the core recurring-revenue base and adjusted EBITDA still declined. The event modestly improves the near-term execution read without changing the larger transition story. Исп

What to watch next

Investor Day on February 10, 2027

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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OpenText earnings beat EPS as recurring revenue shrinks

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