• Open Text average gross margin for 2023 was 70.93%, a 1.75% increase from 2022.
• Open Text average gross margin for 2022 was 69.71%, a 0.52% increase from 2021.
• Open Text average gross margin for 2021 was 69.35%, a 2.09% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.