Rackspace Technology, Inc.

Rackspace Technology, Inc. engages in the provision of end-to-end multi-cloud technology services. The firm designs, builds and operates its customers’ cloud environments across technology platforms. It operates through the following segments: Multicloud Services and Apps & Cross Platform. The Multicloud Services segment includes public and private cloud managed services offerings, as well as professional services related to designing and building multicloud solutions and cloud-native applications. The Apps & Cross Platform segment includes managed applications, managed security and data services, as well as professional services related to designing and implementing application, security and data services. The company was founded on July 21, 2016 and is headquartered in San Antonio, TX.

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Earnings data Q4 2024

Rackspace Technology focuses on sustainable growth amidst challenges and opportunities

Rackspace Technology navigating challenges from a ransomware incident and a tough macro environment, focusing on sustainable growth and high-margin services.
Company making strategic moves with partnerships, new offerings, and leadership changes to drive transformation and execution of its strategy.
Despite demand slowdown in certain sectors, opportunities exist in healthcare and telco industries, with strong growth in hyperscalers and APJ region.

Rackspace Technology reports Q1 revenue decline, eyes long-term growth

Rackspace Technology faces short-term revenue challenges but maintains financial stability.
Strategic focus on cost efficiencies and revenue growth for improved performance.
Long-term growth opportunities in multicloud and generative AI adoption.
Confidence in sequential profit improvement and segment-specific growth targets.

Rackspace Technology surpasses Q2 expectations, drives innovation in AI

Rackspace Technology's Q2 2023 earnings call highlighted strong financial performance, strategic focus on generative AI, and successful collaborations in cloud services. While facing challenges in bookings growth and cost optimization, the company remains well-positioned for growth and innovation in the tech sector.

Rackspace Technology exceeds Q3 guidance, eyes growth in cloud services

Rackspace Technology's Q3 2023 performance showcased financial strength and strategic focus on sustainable growth.
While facing challenges in profitability, the company's strong traction in key markets and new offerings position it well for future opportunities.
With a disciplined financial strategy and focus on efficiency, Rackspace Technology is poised to capitalize on growth prospects in cloud services.

Rackspace Technology reports strong Q4 earnings, eyes cloud growth

Rackspace Technology's Q4 2023 performance reflects strong revenue and profit growth, driven by robust private cloud bookings and strategic focus on higher-margin services.
While facing challenges in cloud revenue declines, the company is poised for improvement in 2024 through private cloud revenue stabilization and public cloud growth.
Strategic strengths in operational turnaround, debt reduction, and AI partnerships position Rackspace well for future growth and innovation in the cloud services sector.

Rackspace Technology exceeds Q1 guidance, focuses on cloud and AI growth

Rackspace Technology's Q1 2024 earnings call highlighted strong financial performance, operational improvements, and growth opportunities in AI and cloud services. Despite short-term cash flow challenges, the company's strategic focus on cloud bookings and AI development positions it well for future growth.

Rackspace Technology surpasses Q3 expectations, eyes strategic growth opportunities

Rackspace Technology's Q3 2024 performance reflects consistent revenue growth, margin improvement, and operational success, driven by innovative solutions and strategic vertical focus.
While facing challenges in managing costs and a projected loss per share in Q4, the company's strengths in market relevance, partnerships, and liquidity offer a solid foundation for future growth.
Opportunities lie in further leveraging vertical expertise, expanding cloud offerings, and optimizing operational efficiency to drive sustained revenue growth and market leadership.
Overall, Rackspace's strong financial performance, coupled with strategic initiatives and market positioning, position the company well for continued success and value creation in the evolving tech landscape.

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SAN ANTONIO, March 16, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced it has worked with multidisciplinary professional consulting firm Century Engineering , Inc. to extend and enhance an innovative stormwater management solution its team developed, named SmartSWM™. Rackspace supported Internet of Things (IoT) hardware and firmware components of the project and an IoT backend for Amazon Web Services (AWS) to realize a more resilient, reliable, and secure intelligent stormwater infrastructure solution.

Rackspace Technology Works with Century Engineering to Create Enhanced IoT Experience to Keep Waterways Clean

LONDON, March 10, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has been selected by ADCO Umweltdienste Holding GmbH to spearhead its cloud native journey using Amazon Web Services (AWS), VMware and app modernisation.

ADCO selects Rackspace Technology to manage cloud native journey with multicloud enhancements

SAN ANTONIO, March 05, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (NASDAQ: RXT) today announced that Kevin Jones, Chief Executive Officer, and Amar Maletira, Chief Financial Officer, will present at the Deutsche Bank Media, Internet and Telecom Conference on Tuesday, March 9, 2021 beginning at 1:00pm ET. Mr. Jones and Mr. Maletira will also be available for investor meetings.

Rackspace Technology to Present at the Deutsche Bank Media, Internet and Telecom Conference

SAN ANTONIO, March 04, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the successful completion of a major artificial intelligence (AI) and machine learning (ML) capabilities initiative for Sentrics , the company revolutionizing the future of senior living. The implementation enables voice control in Sentrics' Engage360 application, enhancing hands-free capabilities that will benefit the company's senior care facility customers.

Rackspace Technology and Sentrics Enhance Senior Digital Experience with Innovative AI/ML Initiatives

SAN ANTONIO, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has been recognized as Cloudflare's Worldwide MSP Partner of the Year in honour of its growth and strong, consistent joint customer engagements. This follows the organizations' worldwide reseller and managed services partnership to protect business applications and infrastructure with the benefit of fully managed services.

Rackspace Technology Named Cloudflare Worldwide MSP Partner of the Year

Despite a fourth-quarter earnings and revenue beat, investors were disappointed.

Why Rackspace Stock Plunged Today

Rackspace Technology, Inc. (RXT) CEO Kevin Jones on Q4 2020 Results - Earnings Call Transcript

SAN ANTONIO, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Please note this release is the corrected version to replace a release issued under the same headline earlier today by Rackspace Technology, Inc. (Nasdaq: RXT). The corrected release follows:

CORRECTING and REPLACING - Rackspace Technology Reports Fourth Quarter and Full Year 2020 Results

Cloud-services provider Rackspace Technology Inc. missed expectations across the board even as its CEO said that the company's fourth quarter "capped off a fantastic year," during which bookings and revenue grew.

Earnings Results: Rackspace stock sinks as it misses estimates

SAN ANTONIO, Feb. 16, 2021 (GLOBE NEWSWIRE) --   Rackspace Technology TM (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, announced today that it has been selected as the CloudHealth by VMware Global Partner of the Year.

Rackspace Technology Named the CloudHealth Global Partner of the Year

SAN ANTONIO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the results and solution details of its successful collaboration with HiMed Solutions to implement cloud-based record keeping for patients.

Rackspace Technology and HiMed Improve Patient Care with Cloud-Based Record Keeping

SAN ANTONIO, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company and a member of Oracle PartnerNetwork (OPN), today announced it has been designated as an Oracle Cloud Solutions Provider (CSP).

Rackspace Technology Achieves Oracle Cloud Solutions Provider Designation

SAN ANTONIO, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the successful collaboration with Microcomputer Consulting Group (MCG), a leading IT outsourcing provider, to provide a more secure, seamless remote work situation amid the pandemic.

Rackspace Technology Partners with Microcomputer Consulting Group (MCG) To Ensure Secure, Seamless Work Amid the Pandemic

SAN ANTONIO, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the successful completion of work with Tessitura Network , an enterprise CRM for performing arts organizations, museums, and other cultural, educational and media entities.

Tessitura Network Taps Rackspace Technology to Accelerate Business Growth & Develop New Features for the Arts and Culture Community

SAN ANTONIO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) today announced that its wholly owned subsidiary Rackspace Technology Global, Inc. (the “Company”) has priced its offering of $550.0 million aggregate principal amount of 3.50% First-Priority Senior Secured Notes due 2028 (the "Notes") at an issue price of 100.000%. The closing of the offering is expected to occur on February 9, 2021 and is subject to customary closing conditions.

Rackspace Technology Announces Pricing of $550 Million Notes Offering by Rackspace Technology Global

Migration from SAP to Google Cloud allowed Mrs. T's to experience a 60% acceleration in batch transitions and on-screen end-user transactions Migration from SAP to Google Cloud allowed Mrs. T's to experience a 60% acceleration in batch transitions and on-screen end-user transactions

Rackspace Technology and Google Cloud Bring Optimized Promotions and Dynamic Disaster Recovery to Mrs. T's Pierogies

SAN ANTONIO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) today announced that its wholly owned subsidiary Rackspace Technology Global, Inc. (the “Company”) is proposing to issue $550.0 million aggregate principal amount of First-Priority Senior Secured Notes due 2028 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The offering is subject to market conditions and other factors.

Rackspace Technology Announces Proposed $550 Million Notes Offering by Rackspace Technology Global

Two years back, Rackspace moved away from its main role as an end-to-end technology solutions provider. The new strategy to focus purely on cloud is paying off with bookings increasing at double-digit figures.

Rackspace Technology: Exhibiting Profitable Growth

SAN ANTONIO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™  (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company today announced the results of a global survey that reveals that the majority of organizations globally lack the internal resources to support critical artificial intelligence (AI) and machine learning (ML) initiatives.

New Global Rackspace Technology Study Uncovers Widespread Artificial Intelligence and Machine Learning Knowledge Gap

Applied Materials

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Comcast

Etsy

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Kimberly-Clark

Take-Two Interactive Software

With the trading day over, the broad markets had pulled back on Tuesday into the close.

Applied Materials, Apache, Bed Bath & Beyond, Palo Alto Networks and More of Tuesday Afternoon's Analyst Calls

The multicloud service provider got a bullish initiation from Wall Street.

Why Rackspace Technology Stock Popped Today

LONDON, Jan. 21, 2021 (GLOBE NEWSWIRE) --   Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has been selected by GEANT's new procurement framework, Open Clouds for Research Environments (OCRE), to provide Amazon Web Services (AWS) solutions to European Researchers.

Rackspace Technology becomes a leader for the European Open Science Cloud marketplace providing AWS expertise for European Researchers

The addition of Martineli forms part of a broader investment across LATAM, including an expansion into Central and South American countries supporting local companies The addition of Martineli forms part of a broader investment across LATAM, including an expansion into Central and South American countries supporting local companies

Rodrigo Martineli joins Rackspace Technology to lead Latin American Region

SAN ANTONIO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ: RXT) (the “Company”), a leading end-to-end multicloud technology solutions company, today announced that it will release its fourth quarter and full year 2020 financial results after the market closes on Thursday, February 18, 2021. Kevin Jones, Chief Executive Officer, and Amar Maletira, Chief Financial Officer, will also host a conference call on the day of the release (February 18, 2021) at 5:00 pm ET to discuss the Company's financial results.

Rackspace Technology to Announce Fourth Quarter and Full Year 2020 Earnings on Thursday, February 18, 2021

HEIDELBERG, Germany, Jan. 19, 2021 (GLOBE NEWSWIRE) -- SNP Schneider-Neureither & Partner SE, a leading provider of software solutions for digital transformation processes and automated data migrations, and Rackspace Technology Inc (NASDAQ: RXT), a leading end-to-end multi-cloud technology solutions company, have signed a strategic partnership agreement. The collaboration will cover the use of the SNP software CrystalBridge® for Rackspace Technology customers who want to move their SAP landscape to the cloud. Rackspace Technology has operations in 120 countries and provides managed services for more 120,000 customers including over half of the Fortune 100 companies.

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