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BASIS OF PRESENTATION | 9 Months Ended
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Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Condensed Consolidated Financial Statements include the accounts of Open Text Corporation and our subsidiaries, collectively referred to as “OpenText” or the “Company.” We wholly own all of our subsidiaries with the exception of Open Text South Africa Proprietary Ltd., which as of March 31, 2026, was 70% owned by OpenText. All intercompany balances and transactions have been eliminated. The Company’s fiscal year begins on July 1 and ends on June 30. Unless otherwise noted, any reference to a year preceded by the word “Fiscal” refers to the fiscal year ended June 30 of that year. For example, references to “Fiscal 2026” refer to the fiscal year ended June 30, 2026. These Condensed Consolidated Financial Statements are expressed in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The information furnished reflects all adjustments necessary for a fair presentation of the results for the periods presented. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, judgments and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements. These estimates, judgments and assumptions are evaluated on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable at that time, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. In particular, key estimates, judgments and assumptions include those related to: (i) revenue recognition, (ii) accounting for income taxes, (iii) testing of goodwill for impairment, (iv) the valuation of acquired intangible assets, (v) the valuation of long-lived assets, (vi) the recognition of contingencies, (vii) restructuring accruals, (viii) acquisition accruals and pre-acquisition contingencies, (ix) the valuation of stock options granted and obligations related to share-based compensation, including the valuation of our long-term incentive plans, (x) the valuation of pension obligations and pension assets, (xi) the valuation of available-for-sale investments, (xii) the valuation of derivative instruments and (xiii) the accounting for disposals of assets and liabilities. Purchase of Long-lived Asset During the third quarter of Fiscal 2026, the Company purchased an office building for $13.0 million. In connection with the purchase, the Company assumed a lease for the land on which the building is located. The lease has an original term of 49 years that began in December 2004, with an option to renew for an additional 49-year term. The office building is classified as Property and equipment, net, while the related land lease is recognized as a right of use asset in our Condensed Consolidated Balance Sheets as of March 31, 2026. As part of the purchase, the Company assumed certain lease agreements with third-party tenants, for which the Company is a lessor. See Note 4 “Leases” for more details. Long-lived Asset Reclassified to Held for Sale During the second quarter of Fiscal 2026, the Company commenced a plan to sell an office building with a carrying value of $4.0 million as of March 31, 2026. Accordingly, the office building was reclassified from Property and equipment to Assets held for sale in our Condensed Consolidated Balance Sheets as of March 31, 2026. See Note 17 “Acquisitions and Divestitures” for more details on assets and liabilities classified as held for sale in our Condensed Consolidated Balance Sheets in connection with the proposed divestiture of our Vertica business.

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