OpenText steps up its cloud cadence, industry tools

OpenText has certified its EnCase Forensic and OpenText EnCase Endpoint Investigator on Microsoft Azure as it continues to move its portfolio into the cloud.

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The company's EnCase Forensic and EnCase Endpoint Investigator are designed for law enforcement and corporate investigators to collaborate, process evidence and iterate. Microsoft Azure is also a critical partner to Axon's Evidence.com and technology stack.

Last month, OpenText updated its cloud applications across its portfolio as it pivots to a SaaS based model. Specifically, OpenText updated its Business Network Cloud, Content Cloud, Experience Cloud, Security and Protection Cloud and Developer Cloud.

• OpenText won't reopen half of its physical offices post COVID-19 pandemic
• OpenText buys Carbonite for $1.42 billion, builds out portfolio
• OpenText deepens partnership with Google Cloud, leveraging Anthos

On Nov. 5, OpenText delivered strong first quarter results with net income of $103.4 million, or 38 cents a share, on revenue of $804 million, up 15.4% from a year ago. Cloud revenue for the quarter was $341 million, up nearly 44% from a year ago.

CEO Mark J. Barrenechea said that the company's plan to convert to a model revolving around cloud services and subscriptions has paid off. The company also raised its outlook even though it will see a decline in license revenue that will be offset by cloud growth.

On the company's first quarter earnings conference call, he said:

It has been our vision at OpenText to build organically and through M&A, the most comprehensive information management cloud platform for the future. And with the introduction of our new architecture, Cloud Editions, running in the OpenText Cloud and other clouds, we have never been better positioned to deliver for our customers in the new equilibrium. We're delivering massive new capabilities every 90 days. We already have over 1,000 customers on Cloud Editions. A

I know I've said this in the past, but let me repeat it as it is so important. 10 years ago, license was 26% of our business. In Q1, it was 9%. We have derisked the business over time. 10 years ago, we had 0 cloud revenues. Now it's our largest revenue line, $341 million in Q1 or 42% of our revenue, and it is now the first revenue line on our income statement.