vivo X200 FE Arrives: the All-Round Flagship Designed for Gen Z
Crafted Aesthetics: Light in Form, Bold in Style
X200 FE features a compact yet immersive 6.31-inch Flat Screen [1], which offers a flagship-level visual experience in a slim, ergonomic design. The display is enhanced by the ZEISS Master Color Display, delivering rich, true-to-life colors with exceptional clarity. Available in four vibrant hues, Yellow Glow, Black Luxe, Blue Breeze, and Pink Vibe, X200 FE blends soft, refined tones with energetic accents, exuding youthful charm and timeless elegance. From its smooth finish to the vibrant palette, every detail is designed to showcase personal style with confidence.
Telephoto Excellence in a Compact Flagship
vivo X200 FE enhances mobile photography with a comprehensive upgrade to the vivo ZEISS Co-engineered Imaging System that merges advanced hardware with intelligent software for powerful long-range and creative capabilities — all within a lightweight, everyday device.
At its core lies the 50 MP [2] ZEISS Main Camera, which is powered by the Sony IMX921 VCS Bionic Sensor and delivers stunning clarity and color accuracy. The 50 MP ZEISS Super Telephoto Camera supports up to 100x zoom, allowing users to capture distant subjects with stunning precision. Meanwhile, the Ultra Wide-Angle Camera [3] enables expansive shots, ensuring that every scene, from subtle textures to sweeping views, is beautifully framed.
Intelligent Imaging for Every Moment: Powerful in Motion and Stillness
X200 FE also offers versatile shooting modes tailored for real-life moments:
Stage Mode preserves fast-moving performances with stunning clarity — perfect for capturing concerts and live events.
Telephoto Landscape, now enhanced with Night Mode, helps travelers and explorers capture distant scenes with sharp detail, even in low-light conditions.
ZEISS Multifocal Portrait supports focal lengths ranging from 23 mm to 100 mm, allowing for diverse portrait styles that convey subtle tones, moods, and emotions with precision.
Adding more personality and creative freedom, Street Photography Mode lets users capture spontaneous, candid moments that reflect the warmth and rhythm of everyday life. For those who love a nostalgic touch, Classic Negative Film Style recreates the iconic aesthetic of analog photography, offering customizable, film-inspired profiles such as Positive Film, Classic Negative and Clear Blue, which infuse images with rich emotion and storytelling.
Power Meets Precision, Inside and Out
At the heart of X200 FE is the MediaTek Dimensity 9300+, a flagship-grade processor built on a groundbreaking 4+4 all-big-core architecture. It delivers significant improvements in processing power, thermal management, and energy efficiency —excellent for gaming, multitasking, and daily use.
Backed by a massive 6500 mAh [4] BlueVolt Battery with an ultra-high energy density of 845 Wh/L, X200 FE packs serious power into a sleek form. With advancements like Silicon Anode 3.0, semi-solid electrolyte, Electrode Cold Press Technique 2.0, and C-FPACK packaging, it delivers lasting endurance without the bulk. Paired with 90W FlashCharge [5], X200 FE is built to keep up with extended entertainment and productivity throughout the day. The device is also certified with SGS Triple Protection and IP68 & IP69 ratings for dust and water resistance [6], making X200 FE a trustworthy companion — rain or shine.
With a brightness of 1800 nits (HBM) and 2160 Hz Full-Range PWM Dimming, the 1.5K LTPO display delivers vivid visuals that remain smooth and easy on the eyes. Combined with multiple Eye Protection Modes [7] and SGS Low Blue Light Certification, it's designed for long hours of comfortable viewing without visual fatigue.
AI-Powered for a Smarter, Effortless Experience [8]
X200 FE brings AI-powered ease to everyday tasks with a suite of intuitive features that make life smoother and more efficient. With Gemini Assistant by Google, users can effortlessly plan schedules, explore local hotspots, and organize to-dos — all through natural conversation. Features like AI Captions, Circle to Search, Live Text, and AI Screen Translation simplify interactions with on-screen content, making it easier to explore, translate, and search information in real time.
Running on the latest Funtouch OS, X200 FE offers a more personalized, playful experience while ensuring privacy and long-term smooth performance. From bold visuals to smart usability upgrades, it's designed to feel intuitive, dynamic, and fun — every time you pick it up.
About vivo
vivo is a technology company that creates great products based on a design-driven value, with smart devices and intelligent services as its core. The company aims to build a bridge between humans and the digital world. Through unique creativity, vivo provides users with an increasingly convenient mobile and digital life. Following the company's core values, which include Benfen*, user-orientation, design-driven value, continuous learning, and team spirit, vivo has implemented a sustainable development strategy with the vision of developing into a healthier, more sustainable world-class corporation.
While bringing together and developing the best local talents to deliver excellence, vivo is supported by a network of R&D centers in Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai, Xi'an and more cities, focusing on the development of state-of-the-art consumer technologies, including 5G, artificial intelligence, industrial design, imaging system and other up-and-coming technologies. vivo has also set up an intelligent manufacturing network (including those authorized by vivo), with an annual production capacity of nearly 200 million smartphones. As of now, vivo has branched out its sales network across more than 60 countries and regions and is loved by more than 500 million users worldwide.
*"Benfen" is a term describing the attitude on doing the right things and doing things right – which is the ideal description of vivo's mission to create value for society.
About Google Gemini
Gemini mobile app available on select devices, languages, and countries. Internet connection required. Google and Gemini are trademarks of Google LLC.
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Normal Course Issuer Bid The Company has renewed its normal course issuer bid (the "NCIB") in order to provide it with a means to execute purchases over the TSX as part of the overall Repurchase Plan. The TSX has approved the Company's notice of intention to commence the NCIB pursuant to which the Company may purchase Common Shares over the TSX for the period commencing August 12, 2025 until August 11, 2026 (subject to earlier termination where the maximum purchase limits have been reached) in accordance with the TSX's normal course issuer bid rules, including that such purchases are to be made at prevailing market prices or as otherwise permitted. 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Quarterly Business Highlights Key customer wins in the quarter include: Atos International, Autostrade per l'Italia, Bayer, BMO, Delta Galil, Groupe Clarins, HARGASSNER Ges mbH, Koc Sistem, PriMed Management Consulting Services, Principle Imaging, Rightmove Group, Skagit Regional Health, SKF, Texas Commission on Law Enforcement, The National Bank for Foreign Economic Activity of the Republic of Uzbekistan OpenText and TELUS partner to deliver Canadian sovereign AI-powered solutions for government and business OpenText appoints Kristen Ludgate to its board of directors OpenText received the 2025 SAP Pinnacle Award in the Partner Solution Success category, recognizing excellence in delivering customer value through SAP-integrated solutions OpenText showcased its end-to-end cybersecurity innovations at the RSA Conference 2025, including AI-powered threat detection and secure information management, underscoring its commitment to cyber resilience Summary of Quarterly Results Q4 FY'25 Q3 FY'25 Q4 FY'24 % Change (Q4 FY'25 vs Q3 FY'25) % Change (Q4 FY'25 vs Q4 FY'24) Revenue (millions) $1,311 $1,254 $1,362 4.5 % (3.8) % GAAP-based gross margin 72.3 % 71.6 % 72.5 % 70 bps (20) bps Non-GAAP-based gross margin (1) 76.2 % 75.7 % 76.4 % 50 bps (30) bps GAAP-based EPS, diluted $0.11 $0.35 $0.91 (68.6) % (87.9) % Non-GAAP-based EPS, diluted (1)(2) $0.97 $0.82 $0.98 18.3 % (1.0) % (1) Please see Note 2 "Use of Non-GAAP Financial Measures" to the consolidated financial statements below. (2) For periods prior to Fiscal 2025, this is reflective of the amount of net tax benefit arising from the internal reorganization assumed to be allocable to the period based on the forecasted utilization period. Please also see Note 14 to the Company's Fiscal 2018 Consolidated Financial Statements on Form 10-K. Conference Call Information OpenText posted an investor presentation on its Investor Relations website and invites the public to listen to the earnings conference call webcast tomorrow on Friday, August 8, 2025 at 8:30 a.m. ET (5:30 a.m. PT) from the Investor Relations section of the Company's website at To join the webcast instantly, use this webcast link. A webcast replay will be available shortly following completion of the live call. Please see below note (2) for a reconciliation of U.S. GAAP-based financial measures used in this press release to Non-GAAP-based financial measures. Copyright ©2025 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: OTEX-F About OpenText OpenText is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at Cautionary Statement Regarding Forward-Looking Statements Certain statements in this press release, including statements about Open Text Corporation ("OpenText" or "the Company") on growth, profitability and future of Information Management, including returning to growth, strategic capital allocation, delivering sustained margin and free cash flow growth, reinvestment in out-performing products, and generating returns for investors; expected performance in Fiscal 2026, including competitive position of and innovation to certain products and ability to build long-term shareholder value; customer benefits from products; A-EBITDA expansion; executing the Company's capital allocation strategy, including expected return to shareholders; execution of Business Optimization Plan and other savings initiatives, including timing, costs, savings, associated benefits thereof and potential adjustments of amounts thereto; projected outlook, estimates and business model; future acquisitions or divestitures and associated strategy; future revenues, operating expenses, margins, RPO, cRPO, free cash flows, earnings, interest expense and capital expenditures; net leverage and savings estimates and timing thereof; market share of our products; innovation road map; intention to increase our dividend, including any estimated annualized dividend; expected size and timing of the Repurchase Plan, including execution thereof; future tax rates; renewal rates; new platform and product offerings, including reinvestment therein and associated benefits to customers; internal automation and AI leverage, including our AI strategy, vision and growth; and other matters, which may contain words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", "may", "could", "would", "might", "will" and variations of these words or similar expressions are intended to identify forward-looking statements or information under applicable securities laws (forward-looking statements). In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements, and are based on our current expectations, forecasts and projections about the operating environment, economies and markets in which we operate. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management's perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, such as certain assumptions about the economy, as well as market, financial and operational assumptions. Management's estimates, beliefs and assumptions, including statements regarding future outlook and estimates, are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change and are not considered guidance. We can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Future declarations of dividends are also subject to the final determination and discretion of the Board of Directors, and an annualized dividend has not been approved or declared by the Board. Forward-looking statements involve known and unknown risks and uncertainties such as those relating to: all statements regarding the expected future financial position, results of operations, revenues, expenses, margins, cash flows, dividends, share buybacks, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth opportunities, plans and objectives of management, including any anticipated synergy benefits; incurring unanticipated costs, delays or difficulties; and our ability to develop, protect and maintain our intellectual property and proprietary technology and to operate without infringing on the proprietary rights of others. We rely on a combination of copyright, patent, trademark and trade secret laws, non-disclosure agreements and other contractual provisions to establish and maintain our proprietary rights, which are important to our success. From time to time, we may also enforce our intellectual property rights through litigation in line with our strategic and business objectives. The actual results that OpenText achieves may differ materially from any forward-looking statements. For additional information with respect to risks and other factors which could occur, see the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the Securities and Exchange Commission (SEC) and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( Such social media channels may include the Company's or our CEO's blog, X, formerly known as Twitter, account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication. OPEN TEXT CORPORATION (In thousands of U.S. dollars, except share and per share data) Year Ended June 30, 2025 2024 2023 Revenues: Cloud services and subscriptions $ 1,856,474 $ 1,820,524 $ 1,700,433 Customer support 2,334,037 2,713,297 1,915,020 License 625,614 834,162 539,026 Professional service and other 352,280 401,594 330,501 Total revenues 5,168,405 5,769,577 4,484,980 Cost of revenues: Cloud services and subscriptions 697,929 713,759 590,165 Customer support 250,310 292,733 209,705 License 31,939 25,608 16,645 Professional service and other 265,160 302,527 276,888 Amortization of acquired technology-based intangible assets 188,780 243,922 223,184 Total cost of revenues 1,434,118 1,578,549 1,316,587 Gross profit 3,734,287 4,191,028 3,168,393 Operating expenses: Research and development 755,936 864,463 659,214 Sales and marketing 1,059,497 1,163,134 969,971 General and administrative 427,811 577,038 419,590 Depreciation 130,573 131,599 107,761 Amortization of acquired customer-based intangible assets 321,891 432,404 326,406 Special charges (recoveries) 145,890 135,305 169,159 Total operating expenses 2,841,598 3,303,943 2,652,101 Income from operations 892,689 887,085 516,292 Other income (expense), net (82,787) 358,391 34,469 Interest and other related expense, net (327,831) (516,180) (329,428) Income before income taxes 482,071 729,296 221,333 Provision for income taxes 46,005 264,012 70,767 Net income $ 436,066 $ 465,284 $ 150,566 Net (income) attributable to non-controlling interests (198) (194) (187) Net income attributable to OpenText $ 435,868 $ 465,090 $ 150,379 Earnings per share—basic attributable to OpenText $ 1.66 $ 1.71 $ 0.56 Earnings per share—diluted attributable to OpenText $ 1.65 $ 1.71 $ 0.56 Weighted average number of Common Shares outstanding—basic (in '000's) 263,274 271,548 270,299 Weighted average number of Common Shares outstanding—diluted (in '000's) 263,650 272,588 270,451 ______________________________ (1) Net of tax expense (recovery) of $(145), $(972) and $(339) for the year ended June 30, 2025, 2024 and 2023, respectively. (2) Net of tax expense (recovery) of $912, $347 and $981 for the year ended June 30, 2025, 2024 and 2023, respectively. (3) Net of tax expense (recovery) of $345, $112 and $(159) for the year ended June 30, 2025, 2024 and 2023, respectively. (4) Net of tax expense (recovery) of $1,686, $765 and $(1,961) for the year ended June 30, 2025, 2024 and 2023, respectively. (5) Net of tax expense (recovery) of $341, $193 and $143 for the year ended June 30, 2025, 2024 and 2023, respectively. OPEN TEXT CORPORATION (In thousands of U.S. dollars and shares) Common Shares and Additional Paid in Capital Treasury Stock Retained Earnings Accumulated Other Comprehensive Income Non- Controlling Interests Total Shares Amount Shares Amount Balance as of June 30, 2022 269,523 $ 2,038,674 (3,706) $ (159,966) $ 2,160,069 $ (7,659) $ 1,142 $ 4,032,260 Issuance of Common Shares Under employee stock option plans 245 7,830 — — — — — 7,830 Under employee stock purchase plans 1,135 31,679 — — — — — 31,679 Share-based compensation — 130,119 — — — — — 130,119 Purchase of treasury stock — — (521) (21,919) — — — (21,919) Issuance of treasury stock — (31,355) 691 30,288 — — — (1,067) Repurchase of Common Shares — — — — — — — — Dividends declared ($0.972 per Common Share) — — — — (261,464) — — (261,464) Other comprehensive loss - net — — — — — (45,900) — (45,900) Net income — — — — 150,379 — 187 150,566 Balance as of June 30, 2023 270,903 $ 2,176,947 (3,536) $ (151,597) $ 2,048,984 $ (53,559) $ 1,329 $ 4,022,104 Issuance of Common Shares Under employee stock option plans 945 31,358 — — — — — 31,358 Under employee stock purchase plans 1,027 34,120 — — — — — 34,120 Share-based compensation — 139,779 — — — — — 139,779 Purchase of treasury stock — — (1,400) (53,085) — — — (53,085) Issuance of treasury stock — (76,178) 1,800 81,414 (5,236) — — — Repurchase of Common Shares (5,074) (34,140) — — (118,193) — — (152,333) Dividends declared ($1.00 per Common Share) — — — — (271,486) — — (271,486) Other comprehensive loss - net — — — — — (16,060) — (16,060) Net income — — — — 465,090 — 194 465,284 Balance as of June 30, 2024 267,801 $ 2,271,886 (3,136) $ (123,268) $ 2,119,159 $ (69,619) $ 1,523 $ 4,199,681 Issuance of Common Shares Under employee stock option plans 139 3,729 — — — — — 3,729 Under employee stock purchase plans 1,369 33,915 — — — — — 33,915 Share-based compensation — 104,721 — — — — — 104,721 Purchase of treasury stock — — (4,619) (133,077) — — — (133,077) Issuance of treasury stock — (115,556) 3,107 118,181 (1,127) — — 1,498 Repurchase of Common Shares (14,525) (104,710) — — (337,880) — — (442,590) Dividends declared ($1.05 per Common Share) — — — — (275,907) — — (275,907) Other comprehensive loss - net — — — — — 2,552 — 2,552 Net income — — — — 435,868 — 198 436,066 Balance as of June 30, 2025 254,784 $ 2,193,985 (4,648) $ (138,164) $ 1,940,113 $ (67,067) $ 1,721 $ 3,930,588 OPEN TEXT CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars) (unaudited) Three Months Ended June 30, 2025 2024 Cash flows from operating activities: Net income for the period $ 28,884 $ 248,274 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangible assets 160,839 177,650 Share-based compensation expense 21,921 26,767 Pension expense 4,399 4,302 Amortization of debt discount and issuance costs 5,643 5,670 Write-off of right of use assets 7,374 4,815 Loss on extinguishment of debt — 45,590 Gain (adjustments to gain) on AMC Divestiture — (429,102) Loss on sale and write down of property and equipment, net 2,450 1,995 Deferred taxes (46,845) 106,903 Share in net (income) loss of equity investees 3,407 (819) Changes in derivative instruments 55,064 (6,667) Changes in operating assets and liabilities: Accounts receivable (31,812) 57,075 Contract assets (39,810) (23,917) Prepaid expenses and other current assets 5,309 (33,112) Income taxes (62,532) 36,421 Accounts payable and accrued liabilities 58,296 7,000 Deferred revenue (7,395) (57,312) Other assets (7,682) 18,981 Operating lease assets and liabilities, net 681 (5,294) Net cash provided by operating activities 158,191 185,220 Cash flows from investing activities: Additions of property and equipment (34,225) (39,979) Proceeds (adjustments to proceeds) from AMC Divestiture — 2,229,187 Other investing activities 140 (9,291) Net cash provided by (used in) investing activities (34,085) 2,179,917 Cash flows from financing activities: Proceeds from issuance of Common Shares from exercise of stock options and ESPP 9,447 9,887 Repayment of long-term debt and Revolver (8,963) (2,008,963) Debt issuance costs — (1,041) Net change in transition services agreement obligation (1) 15,278 Repurchase of Common Shares (145,287) (150,017) Purchase of treasury stock (60,490) — Payments of dividends to shareholders (66,188) (66,690) Other financing activities (2,428) — Net cash used in financing activities (273,910) (2,201,546) Foreign exchange gain (loss) on cash held in foreign currencies 28,016 (8,281) Increase (decrease) in cash, cash equivalents and restricted cash during the period (121,788) 155,310 Cash, cash equivalents and restricted cash at beginning of the period 1,279,894 1,127,483 (In thousands of U.S. dollars) Year Ended June 30, 2025 2024 2023 Cash flows from operating activities: Net income for the period $ 436,066 $ 465,284 $ 150,566 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangible assets 641,244 807,925 657,351 Share-based compensation expense 104,840 140,079 130,302 Pension expense 14,593 13,881 9,207 Amortization of debt discount and issuance costs 21,977 25,257 16,753 Write-off of right of use assets 8,805 20,056 9,626 Loss on extinguishment of debt — 56,393 8,152 Gain (adjustments to gain) on AMC Divestiture 4,175 (429,102) — Loss on sale and write down of property and equipment 3,178 3,710 2,331 Deferred taxes (138,616) (142,271) (149,560) Share in net (income) loss of equity investees (230) 18,194 23,077 Changes in derivative instruments 44,286 (3,116) 128,841 Changes in operating assets and liabilities: Accounts receivable 80,097 108,562 168,604 Contract assets (135,911) (95,403) (73,539) Prepaid expenses and other current assets 42,486 (28,395) (23,035) Income taxes (246,681) 112,097 14,948 Accounts payable and accrued liabilities (23,012) (65,887) (127,092) Deferred revenue 3,565 (42,974) (128,395) Other assets (15,264) 24,849 (11,297) Operating lease assets and liabilities, net (14,980) (21,448) (27,635) Net cash provided by operating activities 830,618 967,691 779,205 Cash flows from investing activities: Additions of property and equipment (143,222) (159,295) (123,832) Purchase of Micro Focus, net of cash acquired — (9,272) (5,657,963) Proceeds (adjustments to proceeds) from AMC Divestiture (11,686) 2,229,187 — Settlement of derivative instruments (10,380) — — Realized gain on financial instruments — — 131,248 Proceeds from interest on derivative instruments 5,166 4,456 — Other investing activities 6,614 (9,759) (873) Net cash provided by (used in) investing activities (153,508) 2,055,317 (5,651,420) Cash flows from financing activities: Proceeds from issuance of Common Shares from exercise of stock options and ESPP 35,372 66,914 39,331 Proceeds from long-term debt and Revolver — — 4,927,450 Repayment of long-term debt and Revolver (35,851) (2,568,352) (202,926) Debt issuance costs (1,066) (3,833) (77,899) Net change in transition services agreement obligation (15,278) 15,278 — Repurchase of Common Shares (413,256) (150,017) — Purchase of treasury stock (130,649) (53,085) (21,919) Payments of dividends to shareholders (271,523) (267,362) (259,549) Other financing activities (2,428) (1,447) (1,435) Net cash provided by (used in) financing activities (834,679) (2,961,904) 4,403,053 Foreign exchange gain (loss) on cash held in foreign currencies 32,882 (12,263) 7,203 Increase (decrease) in cash, cash equivalents and restricted cash during the period (124,687) 48,841 (461,959) Cash, cash equivalents and restricted cash at beginning of the period 1,282,793 1,233,952 1,695,911 Cash, cash equivalents and restricted cash at end of the period $ 1,158,106 $ 1,282,793 $ 1,233,952 Notes (1) All dollar amounts in this press release are in U.S. Dollars unless otherwise indicated. (2) Use of Non-GAAP Financial Measures: In addition to reporting financial results in accordance with U.S. GAAP, the Company provides certain financial measures that are not in accordance with U.S. GAAP (Non-GAAP). These Non-GAAP financial measures have certain limitations in that they do not have a standardized meaning and thus the Company's definition may be different from similar Non-GAAP financial measures used by other companies and/or analysts and may differ from period to period. Thus it may be more difficult to compare the Company's financial performance to that of other companies. However, the Company's management compensates for these limitations by providing the relevant disclosure of the items excluded in the calculation of these Non-GAAP financial measures both in its reconciliation to the U.S. GAAP financial measures and its consolidated financial statements, all of which should be considered when evaluating the Company's results. The Company uses these Non-GAAP financial measures to supplement the information provided in its consolidated financial statements, which are presented in accordance with U.S. GAAP. The presentation of Non-GAAP financial measures is not meant to be a substitute for financial measures presented in accordance with U.S. GAAP, but rather should be evaluated in conjunction with and as a supplement to such U.S. GAAP measures. OpenText strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. The Company therefore believes that despite these limitations, it is appropriate to supplement the disclosure of the U.S. GAAP measures with certain Non-GAAP measures defined below. Non-GAAP-based net income and Non-GAAP-based EPS, attributable to OpenText, are consistently calculated as GAAP-based net income (loss) or earnings (loss) per share, attributable to OpenText, on a diluted basis, excluding the effects of the amortization of acquired intangible assets, other income (expense), share-based compensation, and special charges (recoveries), all net of tax and any tax benefits/expense items unrelated to current period income, as further described in the tables below. Non-GAAP-based gross profit is the arithmetical sum of GAAP-based gross profit and the amortization of acquired technology-based intangible assets and share-based compensation within cost of sales. Non-GAAP-based gross margin is calculated as Non-GAAP-based gross profit expressed as a percentage of total revenue. Non-GAAP-based income from operations is calculated as GAAP-based income from operations, excluding the amortization of acquired intangible assets, special charges (recoveries), and share-based compensation expense. Adjusted EBITDA is defined and calculated as GAAP-based net income (loss), attributable to OpenText, excluding interest income (expense), provision for (recovery of) income taxes, depreciation and amortization of acquired intangible assets, other income (expense), share-based compensation and special charges (recoveries). Adjusted EBITDA margin is calculated as adjusted EBITDA expressed as a percentage of total revenue. Free cash flows is defined and calculated as GAAP-based cash flows provided by operating activities less capital expenditures. The Company's management believes that the presentation of the above defined Non-GAAP financial measures provides useful information to investors because they portray the financial results of the Company before the impact of certain non-operational charges. The use of the term "non-operational charge" is defined for this purpose as an expense that does not impact the ongoing operating decisions taken by the Company's management. These items are excluded based upon the way the Company's management evaluates the performance of the Company's business for use in the Company's internal reports and are not excluded in the sense that they may be used under U.S. GAAP. The Company does not acquire businesses on a predictable cycle, and therefore believes that the presentation of Non-GAAP measures, which in certain cases adjust for the impact of amortization of intangible assets and the related tax effects that are primarily related to acquisitions, will provide readers of financial statements with a more consistent basis for comparison across accounting periods and be more useful in helping readers understand the Company's operating results and underlying operational trends. Additionally, the Company has engaged in various restructuring activities over the past several years, primarily due to acquisitions and in response to our return to office planning, that have resulted in costs associated with reductions in headcount, consolidation of leased facilities and related costs, all which are recorded under the Company's "Special charges (recoveries)" caption on the Consolidated Statements of Income. Each restructuring activity is a discrete event based on a unique set of business objectives or circumstances, and each differs in terms of its operational implementation, business impact and scope, and the size of each restructuring plan can vary significantly from period to period. Therefore, the Company believes that the exclusion of these special charges (recoveries) will also better aid readers of financial statements in the understanding and comparability of the Company's operating results and underlying operational trends. In summary, the Company believes the provision of supplemental Non-GAAP measures allow investors to evaluate the operational and financial performance of the Company's core business using the same evaluation measures that management uses, and is therefore a useful indication of OpenText's performance or expected performance of future operations and facilitates period-to-period comparison of operating performance (although prior performance is not necessarily indicative of future performance). As a result, the Company considers it appropriate and reasonable to provide, in addition to U.S. GAAP measures, supplementary Non-GAAP financial measures that exclude certain items from the presentation of its financial results. Information reconciling certain forward-looking GAAP measures to non-GAAP measures related to outlook, estimates or business models, including A-EBITDA is not available without unreasonable effort due to high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations. The following charts provide unaudited reconciliations of U.S. GAAP-based financial measures to Non-GAAP-based financial measures for the following periods presented. The Micro Focus Acquisition significantly impacts period-over-period comparability. (1) Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. (2) Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (3) GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. (4) Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. (5) GAAP-based and Non-GAAP-based income from operations stated in dollars. (6) Adjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results. Other income (expense) also includes unrealized and realized gains (losses) on our derivatives which are not designated as hedges. We exclude gains and losses on these derivatives as we do not believe they are reflective of our ongoing business and operating results. (7) Adjustment relates to differences between the GAAP-based tax provision rate of approximately (156%) and a Non-GAAP-based tax rate of approximately 24% ; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based net income. Such excluded items include amortization, share-based compensation, special charges (recoveries) and other income (expense), net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and "book to return" adjustments for tax return filings and tax assessments. Beginning in Fiscal 2025, net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 have been fully utilized and are no longer included. In arriving at our Non-GAAP-based tax rate of approximately 24%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of Free cash flows Three Months Ended June 30, 2025 GAAP-based cash flows provided by operating activities $ 158,191 Add: Capital expenditures (1) $ (34,225) Free cash flows $ 123,966 (1) Defined as "Additions of property and equipment" in the Consolidated Statements of Cash Flows. Reconciliation of selected GAAP-based measures to Non-GAAP-based measures for the year ended June 30, 2025 (In thousands, except for per share data) Year Ended June 30, 2025 GAAP-based Measures GAAP-based Measures % of Total Revenue Adjustments Note Non-GAAP- based Measures Non-GAAP- based Measures % of Total Revenue Cost of revenues Cloud services and subscriptions $ 697,929 $ (8,317) (1) $ 689,612 Customer support 250,310 (4,067) (1) 246,243 Professional service and other 265,160 (4,878) (1) 260,282 Amortization of acquired technology-based intangible assets 188,780 (188,780) (2) — GAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%) 3,734,287 72.3 % 206,042 (3) 3,940,329 76.2 % Operating expenses Research and development 755,936 (25,999) (1) 729,937 Sales and marketing 1,059,497 (38,826) (1) 1,020,671 General and administrative 427,811 (22,753) (1) 405,058 Amortization of acquired customer-based intangible assets 321,891 (321,891) (2) — Special charges (recoveries) 145,890 (145,890) (4) — GAAP-based income from operations / Non-GAAP-based income from operations 892,689 761,401 (5) 1,654,090 Other income (expense), net (82,787) 82,787 (6) — Provision for income taxes 46,005 272,296 (7) 318,301 GAAP-based net income / Non-GAAP-based net income, attributable to OpenText 435,868 571,892 (8) 1,007,760 GAAP-based earnings per share / Non-GAAP-based earnings per share-diluted, attributable to OpenText $ 1.65 $ 2.17 (8) $ 3.82 (1) Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. (2) Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (3) GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. (4) Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. (5) GAAP-based and Non-GAAP-based income from operations stated in dollars. (6) Adjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results. Other income (expense) also includes unrealized and realized gains (losses) on our derivatives which are not designated as hedges. We exclude gains and losses on these derivatives as we do not believe they are reflective of our ongoing business and operating results. (7) Adjustment relates to differences between the GAAP-based tax provision rate of approximately 10% and a Non-GAAP-based tax rate of approximately 24%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based net income. Such excluded items include amortization, share-based compensation, special charges (recoveries) and other income (expense), net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and "book to return" adjustments for tax return filings and tax assessments. Beginning in Fiscal 2025, net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 have been fully utilized and are no longer included. In arriving at our Non-GAAP-based tax rate of approximately 24%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of Free cash flows Year Ended June 30, 2025 GAAP-based cash flows provided by operating activities $ 830,618 Add: Capital expenditures (1) (143,222) Free cash flows $ 687,396 (1) Defined as "Additions of property and equipment" in the Consolidated Statements of Cash Flows. (1) Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. (2) Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (3) GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. (4) Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. (5) GAAP-based and Non-GAAP-based income from operations stated in dollars. (6) Adjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results. Other income (expense) also includes unrealized and realized gains (losses) on our derivatives which are not designated as hedges. We exclude gains and losses on these derivatives as we do not believe they are reflective of our ongoing business and operating results. (7) Adjustment relates to differences between the GAAP-based tax provision rate of approximately 10% and a Non-GAAP-based tax rate of approximately 24%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based net income. Such excluded items include amortization, share-based compensation, special charges (recoveries) and other income (expense), net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and "book to return" adjustments for tax return filings and tax assessments. Beginning in Fiscal 2025, net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 have been fully utilized and are no longer included. In arriving at our Non-GAAP-based tax rate of approximately 24%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of Adjusted EBITDA Three Months Ended March 31, 2025 GAAP-based net income, attributable to OpenText $ 92,805 Add (deduct): Provision for income taxes 10,842 Interest and other related expense, net 78,816 Amortization of acquired technology-based intangible assets 47,199 Amortization of acquired customer-based intangible assets 79,683 Depreciation 32,474 Share-based compensation 23,000 Special charges (recoveries) 3,854 Other (income) expense, net 26,578 Adjusted EBITDA $ 395,251 GAAP-based net income margin 7.4 % Adjusted EBITDA margin 31.5 % Reconciliation of Free cash flows Three Months Ended March 31, 2025 GAAP-based cash flows provided by operating activities $ 402,241 Add: Capital expenditures (1) (28,412) Free cash flows $ 373,829 (1) Defined as "Additions of property and equipment" in the Consolidated Statements of Cash Flows. (1) Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. (2) Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (3) GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. (4) Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. (5) GAAP-based and Non-GAAP-based income from operations stated in dollars. (6) Adjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results. Other income (expense) also includes unrealized and realized gains (losses) on our derivatives which are not designated as hedges. We exclude gains and losses on these derivatives as we do not believe they are reflective of our ongoing business and operating results. (7) Adjustment relates to differences between the GAAP-based tax provision rate of approximately 49% and a Non-GAAP-based tax rate of approximately 14%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based net income. Such excluded items include amortization, share-based compensation, special charges (recoveries) and other income (expense), net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and "book to return" adjustments for tax return filings and tax assessments. Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of Free cash flows Three Months Ended June 30, 2024 GAAP-based cash flows provided by operating activities $ 185,220 Add: Capital expenditures (1) (39,979) Free cash flows $ 145,241 (1) Defined as "Additions of property and equipment" in the Consolidated Statements of Cash Flows. Reconciliation of selected GAAP-based measures to Non-GAAP-based measures for the year ended June 30, 2024 (In thousands, except for per share data) Year Ended June 30, 2024 GAAP-based Measures GAAP-based Measures % of Total Revenue Adjustments Note Non-GAAP- based Measures Non-GAAP- based Measures % of Total Revenue Cost of revenues Cloud services and subscriptions $ 713,759 $ (12,858) (1) $ 700,901 Customer support 292,733 (4,357) (1) 288,376 Professional service and other 302,527 (6,298) (1) 296,229 Amortization of acquired technology-based intangible assets 243,922 (243,922) (2) — GAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%) 4,191,028 72.6 % 267,435 (3) 4,458,463 77.3 % Operating expenses Research and development 864,463 (40,612) (1) 823,850 Sales and marketing 1,163,134 (46,572) (1) 1,116,563 General and administrative 577,038 (29,382) (1) 547,656 Amortization of acquired customer-based intangible assets 432,404 (432,404) (2) — Special charges (recoveries) 135,305 (135,305) (4) — GAAP-based income from operations / Non-GAAP-based income from operations 887,085 951,710 (5) 1,838,795 Other income (expense), net 358,391 (358,391) (6) — Provision for income taxes 264,012 (78,845) (7) 185,167 GAAP-based net income / Non-GAAP-based net income, attributable to OpenText 465,090 672,164 (8) 1,137,254 GAAP-based earnings per share / Non-GAAP-based earnings per share-diluted, attributable to OpenText $ 1.71 $ 2.46 (8) $ 4.17 (1) Adjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results. (2) Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results. (3) GAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue. (4) Adjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. (5) GAAP-based and Non-GAAP-based income from operations stated in dollars. (6) Adjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results. Other income (expense) also includes unrealized and realized gains (losses) on our derivatives which are not designated as hedges. We exclude gains and losses on these derivatives as we do not believe they are reflective of our ongoing business and operating results. (7) Adjustment relates to differences between the GAAP-based tax provision rate of approximately 36% and a Non-GAAP-based tax rate of approximately 14%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based net income. Such excluded items include amortization, share-based compensation, special charges (recoveries) and other income (expense), net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and "book to return" adjustments for tax return filings and tax assessments. Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. In arriving at our Non-GAAP-based tax rate of approximately 14%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. Reconciliation of Free cash flows Year Ended June 30, 2024 GAAP-based cash flows provided by operating activities $ 967,691 Add: Capital expenditures (1) (159,295) Free cash flows $ 808,396 (1) Defined as "Additions of property and equipment" in the Consolidated Statements of Cash Flows. (3) The following tables provide a composition of our major currencies for revenue and expenses, expressed as a percentage, for the year ended June 30, 2025 and 2024: Three Months Ended June 30, 2025 Three Months Ended June 30, 2024 Currencies % of Revenue % of Expenses (1) % of Revenue % of Expenses (1) EURO 25 % 13 % 22 % 13 % GBP 5 % 6 % 5 % 7 % CAD 3 % 12 % 3 % 10 % USD 56 % 46 % 59 % 49 % Other 11 % 23 % 11 % 21 % Total 100 % 100 % 100 % 100 %
Cision Canada
14 hours ago
- Cision Canada
FRNT Financial Inc. Announces BTC Purchases
TORONTO, Aug. 7, 2025 /CNW/ - FRNT Financial Inc. (TSXV: FRNT) (OTCQB: FRFLF) (FSE: XZ3) (the " Company" or " FRNT") today announces the purchase of 3.14 BTC (' Bitcoin '), for an aggregate purchase price of C$500,000, or approximately US$115,594 per BTC. The Company may look to opportunistically add to its BTC holdings when deemed appropriate. About FRNT FRNT is a digital asset investment bank offering capital markets and advisory services to institutional investors participating in or entering the space. The Company aims to bridge the worlds of traditional and web-based finances with a technology forward and compliant operation. Business lines include deliverable trading services, structured derivative products, merchant banking, advisory, consulting, lending origination and principal investments. Headquartered in Toronto, FRNT was co-founded in 2018 by CEO Stéphane Ouellette. Neither the TSXV nor its regulation services provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable law which may include, without limitation, statements relating to the acquisition of any additional BTC by the Company, the technical, financial and business prospects of the Company, its assets and other matters. Generally, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company as at the date of such information. Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements and forward-looking information, including but not limited to: the general risks associated with the speculative nature of the Company's business, current global financial conditions, uncertainty of additional capital, price volatility, no history of earnings, government regulation in the industries in which the Company operates, political and economic risk, financing availability, prevailing market conditions for cryptocurrencies, disruption of FRNT's information technology systems, protection of sensitive data used or stored by FRNT, limited history and market for cryptocurrencies, the perception and treatment of cryptocurrencies by both the public and governmental authorities, new regulations regarding cryptocurrencies may be introduced by governmental authorities, absence of public trading market, arbitrary offering price, dilution to the common shares in the capital of the Company, dependence on key personnel, currency fluctuations, insurance and uninsured risks, competition, legal proceedings, conflicts of interest and lack of dividends. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. The Company does not undertake to update any forward-looking statement or forward-looking information that is included herein, except in accordance with applicable securities laws.
