Short answer
Open Text Corp (OTEX) filed its fiscal 2014 10-K annual report with the SEC on Jul 31, 2014.
- Top risk flagged: IRS examination of Fiscal 2010-2012 returns, including Luxembourg and Canada intellectual-property reorganization
Open Text Corp FY2014 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- EIM software and services business, monetized through licenses, support, professional services and cloud services
- GXS acquisition added cloud-based B2B integration, messaging and managed services for $1.2 billion
- Cordys acquisition expanded BPM and case management with cloud, mobile and social capabilities for $33.2 million
- Global reach across more than 140 countries, with Fiscal 2014 revenue mix of 54% Americas, 36% EMEA and 10% Asia Pacific
- Approximately 8,000 employees as of June 30, 2014, including 2,000 in cloud services and 1,900 in product development
Management Discussion & Analysis
- Revenue $1,624.7M, up 19.2% YoY, led by cloud services $361.1M, up $187.3M
- GAAP operating margin 18.5% vs 14.5%; non-GAAP margin 30.9% vs 29.3%
- Best segment customer support: revenue $707.0M, gross margin 86.4%; worst professional services: revenue $247.4M, down $4.3M, margin 20.4%
- Operating cash flow $417.1M, investing outflow $1,153.4M, including $19.2M capex and GXS acquisition
- Dividends $74.7M; outlook: recurring cloud revenue growth, with acquisition integration, currency, competition and tax disputes as risks
Risk Factors
- IRS examination of Fiscal 2010-2012 returns, including Luxembourg and Canada intellectual-property reorganization
- Global economic weakness, reduced customer technology spending, and longer sales cycles affecting international revenues
- GXS integration complexity across geographically separate organizations, systems, networks, and customer relationships
- Cloud computing, SaaS, mobility, and social-media technologies threatening OpenText’s EIM delivery model
- $1.4B term-loan facilities after GXS acquisition, with restrictive covenants and leverage requirements limiting corporate flexibility
Generated from the filing text; verify against the original. How to read a 10-K
Other Open Text Corp annual reports
- FY2019 10-KFiled Aug 1, 2019
- FY2018 10-KFiled Aug 2, 2018
- FY2017 10-KFiled Aug 3, 2017
- FY2016 10-KFiled Jul 27, 2016
- FY2015 10-KFiled Jul 29, 2015
- FY2013 10-KFiled Aug 1, 2013
- FY2012 10-KFiled Aug 10, 2012
- FY2011 10-KFiled Aug 15, 2011
- FY2010 10-KFiled Aug 20, 2010
- FY2009 10-KFiled Aug 21, 2009
- FY2008 10-KFiled Aug 26, 2008
- FY2007 10-KFiled Sep 13, 2007
- FY2006 10-KFiled Sep 12, 2006
- FY2005 10-KFiled Sep 27, 2005
- FY2004 10-KFiled Sep 13, 2004
- FY2003 10-KFiled Sep 29, 2003
- FY2002 10-KFiled Sep 30, 2002
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