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Open Text vs Light & Wonder: OTEX and LAWIL compared
Open Text is the larger company: $1.2B of revenue in its latest quarter (Q1 FY27) against $824M for Light & Wonder (Q3 2026). Light & Wonder is growing faster (-2% against -4% a year earlier). Light & Wonder is more profitable, with an operating margin of 29.4% against 20.3%.
Where the money goes: OTEX and LAWIL
Open Text (OTEX) · Q1 FY27
Open Text, Q1 FY27: revenue $1.2B (-4% year over year), operating margin 20.3%, net earnings $155M, operating cash flow $172M. The chart follows the revenue to costs, profit and cash.
Light & Wonder (LAWIL) · Q3 2026
Light & Wonder, Q3 2026: revenue $824M (-2% year over year), operating margin 29.4%, net earnings $133M, operating cash flow $236M. The chart follows the revenue to costs, profit and cash.
| Open Text (OTEX) | Light & Wonder (LAWIL) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q3 2026 |
| Revenue | $1.2B | $824M |
| Revenue growth, Y/Y | -4% | -2% |
| Gross margin | 73.2% | — |
| Operating margin | 20.3% | 29.4% |
| Net earnings | $155M | $133M |
| Net margin | 12.6% | 16.1% |
| Operating cash flow | $172M | $236M |
| Free cash flow | $139M | $181M |
| Market value | $6.0B | — |
| P/E | 9.3× | — |
| Analysts’ mean target | $27.95 | — |
Where the revenue comes from
Open Text
- Cloud services and subscriptions: $505M (41%)
- Business Network: $314M (25%)
- Content: $163M (13%)
- Cybersecurity (SMB & Consumer): $128M (10%)
Light & Wonder
- Gaming: $554M (67%)
- SciPlay: $173M (21%)
- iGaming: $97.0M (12%)
Questions
Which is bigger, Open Text or Light & Wonder?
Open Text is the larger company: $1.2B of revenue in its latest quarter (Q1 FY27) against $824M for Light & Wonder (Q3 2026).
Is Open Text or Light & Wonder growing faster?
Light & Wonder is growing faster (-2% against -4% a year earlier).
Which is more profitable, Open Text or Light & Wonder?
Light & Wonder is more profitable, with an operating margin of 29.4% against 20.3%.
More: Open Text earnings · how Open Text makes money · Light & Wonder earnings · how Light & Wonder makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.