Open Text Corp Stock Price, News & Analysis

OpenText (NASDAQ: OTEX) has launched a new Managed Detection & Response (MDR) Service aimed at helping enterprises identify cybersecurity threats before they escalate. This service is part of the expanding OpenText Security portfolio, launched in response to recent high-profile security breaches. The MDR service boasts a detection rate of up to 99% for unknown threats and a mean time to detection (MTTD) of less than 30 minutes. Early adopter Webcor Builders reported improved security defenses and real-time incident response capabilities.

OpenText reported strong Q3 FY2021 results, with total revenues of $832.9 million, a 2.2% year-over-year increase. Annual Recurring Revenues (ARR) reached a record $691.8 million, up 4.4%, making up 83% of total revenues. Cloud revenues also hit a record $355.8 million, growing 4.8%. GAAP net income rose to $91.5 million, a 252.4% increase from the previous year, with diluted EPS of $0.33. Despite a significant IRS settlement payment of $290 million, OpenText maintains a robust financial position with $1.5 billion in cash.

OpenText (NASDAQ: OTEX) has launched the new Webroot Business Management Console, designed for managed service providers (MSPs) and small to medium-sized businesses (SMBs). This console enhances user experience by streamlining security management. Key features include improved user interface, greater administrator control, automated user error prevention, and enhanced training customization. The console is compatible with Webroot's existing applications and integrates with its security portfolio. This update signifies OpenText's commitment to product innovation and addresses the evolving needs of its users.

OpenText (NASDAQ: OTEX) is presenting its latest innovations at AIIM Conference 2021, emphasizing its Content Cloud services designed for modern work challenges. With deep integrations, intelligent automation, and enhanced governance, OpenText aims to assist organizations in managing content sprawl and compliance. Key offerings include Core Content, which integrates with SAP S/4HANA® Public Cloud, and Core Case Management, facilitating no-code process management. The conference features presentations from clients like SaskPower, highlighting effective information governance.

OpenText, a leader in information management, reported a 34.4% YoY increase in phishing activity according to its 2021 Webroot BrightCloud® Threat Report. The report highlights significant phishing activity spikes during the early COVID-19 pandemic, with eBay as the most impersonated brand. Phishing attacks surged 510% from January to February 2021. The report emphasizes a multi-layered data security approach for organizations, citing that 54% of phishing sites employed HTTPS. Malware infections on consumer devices doubled compared to business devices.

OpenText (NASDAQ: OTEX) launched its new offerings, OpenText Core Content and OpenText Core Case Management, aimed at enhancing digital business processes. These multi-tenant cloud applications are designed for quick deployment and integration with existing business applications, including SAP S/4HANA® Public Cloud. The solutions address complex information management challenges, crucial for a growing remote workforce. CEO Mark J. Barrenechea emphasized the need for such tools in a digital workplace. The products support modern work requirements and are part of the OpenText Cloud Editions 21.2.

OpenText has launched Cloud Editions (CE) 21.2, enhancing its content services platform at OpenText World Europe. This release emphasizes digital transformation, providing flexible deployment options for organizations. Key features include Core Content and Core Case Management, which streamline content management and improve customer experiences. Innovations across various clouds include enhanced compliance tools, improved user productivity, and new connectivity for business networks. The update also introduces three industry-specific solutions aimed at energy, manufacturing, and retail banking sectors.

OpenText Corporation (NASDAQ: OTEX) will release its third quarter fiscal year 2021 financial results on May 6, 2021, at approximately 4:00 p.m. ET. Following this, a teleconference call led by CEO Mark J. Barrenechea and CFO Madhu Ranganathan will take place at 5:00 p.m. ET for a detailed discussion of the results. Investors are encouraged to join the call 10 minutes prior. A replay will be available from 7:00 p.m. ET on the same day until May 20, 2021.

OpenText (NASDAQ: OTEX) has announced the upcoming dates for OpenText World Europe on April 14-15 and OpenText World Asia Pacific on May 20-21, 2021. These events will utilize an interactive virtual format to connect with customers in Europe and the Asia Pacific. Highlights include insights from key executives, the introduction of the Grow with OpenText program, and updates on Cloud Editions of their content services platform. Registration is now open for both events.