Short answer
Open Text Corp (OTEX) filed its fiscal 2017 10-K annual report with the SEC on Aug 3, 2017. It reported revenue of $2.3B and net income of $1.0B.
- Top risk flagged: IRS examinations: proposed approximately $585 million aggregate liability, including taxes, penalties and interest as of June 30, 2017
FY2017 key financial metrics · XBRL
- Revenue
- $2.3B
- Net income
- $1.0B
- Operating margin
- 15.4%
- Gross margin
- 66.7%
- EPS (diluted)
- $4.01
- ROE
- 29.0%
- Operating cash flow
- $439M
Source: XBRL data from the Open Text Corp (OTEX) FY2017 10-K on SEC EDGAR. USD.
Open Text Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Enterprise Information Management software, delivered on-premise, in the cloud, or through hybrid deployments
- New OpenText Magellan AI platform introduced in July 2017, targeting data lakes, analytics, and enterprise insight
- Major portfolio expansion through $1.62B Dell-EMC ECD acquisition, plus CCM and Recommind acquisitions
- R&D spending rose to $281.7M from $194.1M, supporting cloud, analytics, and digital transformation innovation
- Approximately 10,900 employees as of June 30, 2017, including 2,700 in product development and 2,500 in cloud services
Management Discussion & Analysis
- Revenue $2,291.1M, up 25.6% YoY, led by customer support $981.1M, up $234.7M
- GAAP operating margin 15.4% vs 20.2%, gross margin 66.7% vs 68.5%
- Best segment customer support, $981.1M revenue and 87.5% margin; worst professional services, 17.0% margin
- Operating cash flow $439.3M; acquisition investing $2,191.0M, dividends $120.6M, no Fiscal 2017 buybacks
- Fiscal 2018 focus on earnings and cash-flow growth; risks include acquisitions and IRS tax exposure estimated at $585M
Risk Factors
- IRS examinations: proposed approximately $585 million aggregate liability, including taxes, penalties and interest as of June 30, 2017
- Brexit exposure: United Kingdom and EU operations facing exchange-rate volatility and potential regulatory disruption
- Cloud operations: cyberattacks or third-party service failures could disrupt data centers and expose customer information
- Market disruption: cloud, mobility and SaaS alternatives could render OpenText products less competitive
- Leverage: $800 million term loan, $1.65 billion senior notes and restrictive covenants limiting acquisitions and dividends
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
- FY2016 10-KFiled Jul 27, 2016
- FY2015 10-KFiled Jul 29, 2015
- FY2014 10-KFiled Jul 31, 2014
- 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
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.