OpenText (OTEX) Reports Q2 Net Loss of $125M

OpenText (OTEX) released its Q2 2026 results, reporting a net loss of $125 million, down from a $35 million loss in the same period last year. Revenue for the quarter totaled $380 million, a 3% increase from $368 million in Q2 2025. The decline in profitability followed a strategic shift toward cloud migration services, which accounted for 40% of total revenue in the quarter. CEO James Coplien attributed the results to higher investment in digital transformation solutions and continued price pressure from legacy clients.