Open Text Corporation Q2 2026 Earnings Recap

OpenText's Q2 fiscal 2026 results surpassed expectations, highlighted by a strong cloud growth trajectory and a strategic divestiture that positions the company for focused future growth.

Key Takeaways

• Total revenues reached approximately $1.33 billion, with cloud revenue growing 3.4% year over year.
• Enterprise cloud bookings increased 18%, totaling $295 million, reflecting robust demand for core offerings.
• The recently announced divestiture of Vertica for $150 million is aimed at sharpening focus on OpenText's primary growth areas.
• Core content business, accounting for 43% of total revenues, grew 4.5% year over year with cloud content revenues up 18%.
• The company reaffirms its FY 2026 revenue growth target of 1% to 2% year over year, indicating confidence in ongoing strategic initiatives.