New York, NY: Open Text Corporation, a software company based in New York, recently participated in the Citi’s 2024 Global TMT Conference call on September 5, 2024, to discuss their recent developments and future strategies.

During the conference call, Madhu Ranganathan, the President, CFO, and Corporate Development of Open Text Corporation, discussed the company’s journey over the years and highlighted the significant changes they have undergone. Ranganathan emphasized the company’s focus on cloud technology, with recent acquisitions contributing to their expertise in content, business network, and cybersecurity.

Ranganathan also touched on the company’s product groups and markets, outlining their revenue breakdown and the emphasis on cloud technology, particularly in content, business network, and IT operations management. The company’s focus on innovation and growth in the cloud was a key point of discussion during the call.

The discussion also delved into the company’s plans for AI integration, highlighting the importance of artificial intelligence in driving growth and innovation in their product offerings. Ranganathan expressed optimism about the potential of AI in expanding their cloud bookings and revenue in the coming years.

Furthermore, Ranganathan shared insights on the company’s margin expansion strategy, emphasizing the focus on operational efficiency and capital allocation to drive profitability and sustainable growth. The company’s approach to leveraging their strengths in different product groups to navigate macroeconomic challenges was also discussed.

Additionally, Ranganathan addressed the company’s plans for capital allocation, including dividends, share buybacks, debt reduction, and potential M&A opportunities. The company’s strategy for maintaining the right balance between these initiatives to drive growth and value for shareholders was a key point of interest during the call.

In conclusion, the discussion provided valuable insights into Open Text Corporation’s strategic direction, focusing on innovation, cloud technology, AI integration, and capital allocation strategies. The company’s emphasis on driving growth, profitability, and operational efficiency showcased their commitment to long-term success in the ever-evolving technology landscape.