Open Text Corp. reports net loss in fourth quarter, launches AI strategy

Open Text Corp. reported a net loss of US$48.7 million in its fourth quarter, down from earnings of US$102.2 million during the same quarter last year.

Revenues for the quarter ended June 30 were US$1.5 billion, up from US$902.5 million last year. 

The company earned US$150.4 million for the full financial year, down from US$397.1 million the previous financial year.

Revenues for the year rose by more than 28 per cent to US$4.5 billion.