Shares of Open Text (OTEX) surged 5.26% in pre-market trading after the company reported fiscal fourth-quarter financial results that handily beat analyst expectations on both the top and bottom lines.

The enterprise software company posted adjusted earnings per share of $1.23, significantly exceeding the consensus estimate of $1.06. Quarterly revenues came in at $1.349 billion, topping the analyst forecast of $1.330 billion. Both figures represented solid year-over-year growth, with earnings up 26.8% and sales up 2.9% compared to the same period last year.

Open Text highlighted its role as a secure data foundation for enterprise AI, with CEO Ayman Antoun stating, "AI is creating urgency for every organization, but trusted data determines whether AI delivers value. OpenText is the secure data foundation in the AI stack." The company also reported a 6% increase in cloud revenues to $503 million, marking 22 consecutive quarters of cloud organic growth.