Open Text Corp (OTEX) Q3 2018 10-Q Quarterly Earnings

Short answer

Open Text Corp (OTEX) filed its Q3 2018 10-Q quarterly report on Oct 31, 2018 for the quarter ended Sep 30, 2018.

AI summary of MD&A and risk factor updates

Revenue $667.2M, up 4.1% YoY from $640.7M, led by customer support $311.6M
GAAP gross margin 66.1% vs 65.2%; non-GAAP gross margin 73.4% vs 72.2%
Best product line customer support revenue $311.6M, up $16.1M; worst license revenue $76.9M, down $1.3M
Operating cash flow $171.4M, up 154.9%; cash $787.9M vs $682.9M, with $40.5M dividends paid
Outlook: strategic acquisitions and organic innovation; R&D investment approximately $77M, targeted at 11% to 13% of revenue

Newly disclosed regulatory risk: July 2018 IRS NOPAs proposed additional U.S. federal taxes for Fiscal 2010 and Fiscal 2012
Most material legal update: IRS examination expanded to approximately $[redacted] aggregate exposure, including taxes, penalties and interest
Compliance risk: CRA transfer-pricing reassessments for Fiscal 2012 and Fiscal 2013 carried potential penalties and interest
Operational risk: Fiscal 2019 restructuring plan incurred $20.3 million and expected total costs of approximately $29.0 million
Financial risk: $2.645 billion principal debt outstanding, including floating-rate Term Loan B maturing May 2025

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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