Revenue growth slows to 7% as ShareFile anniversary passes; debt refinanced at lower rate

Filed June 30, 2026 · Period ending May 31, 2026 · Compared to 10-Q Jun 30, 2025 · ~2 min read

Key Changes

• high

  Revenue growth decelerated to 7% in Q2 (vs 36% prior year) as the ShareFile acquisition anniversary passed; license sales surged 36% while recurring revenue (maintenance, SaaS) was flat. ARR growth slowed to 2% from 46%, and net retention fell to 99-100% from 100-102%, indicating customer contraction.

  MD&A: Revenue & ARR verify on EDGAR →
• high

  Company redeemed $360M convertible notes at maturity in April 2026, refinancing with revolver borrowings at 5.37% (down from 6.67% a year ago). Revolver balance rose to $850M but interest expense fell 12% as rates declined.

  Notes: Debt view on EDGAR →
• high

  MOVEit cybersecurity insurance coverage nearly exhausted ($1.1M remaining vs $5.4M prior year); litigation advanced with 23 of 33 claims dismissed, but fact discovery runs through September 2026 and class certification briefing begins August 2026. Net litigation expenses rose 79% year-to-date.

  Notes & MD&A: MOVEit verify on EDGAR →