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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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, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced it has been positioned in the Major Players category in the IDC MarketScape: Worldwide Application Management Services on the Cloud 2020 Vendor A ssessment (doc # US46924517, November 2020). The inaugural IDC MarketScape assesses 13 qualifying organizations on their Application Management (AM) offerings and performance in the cloud market based on market demands and expected buyer needs.

Rackspace Technology Named a Major Player in IDC MarketScape: Applications Management Services on the Cloud 2020 Vendor Assessment

LONDON, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has been named a Leader in three categories of the 2020 ISG Provider Lens™ AWS Ecosystem Partners Report for Germany due to its numerous AWS competencies, partner programs and the extensive AWS certifications. Rackspace Technology is also one of the very few "Migration Acceleration Program" partners of AWS in Germany.

Rackspace Technology positioned as a Leader in three categories of 2020 ISG Provider Lens™ AWS Ecosystem Partners Report for Germany

SAN ANTONIO, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) today announced the final results for the previously announced tender offer (the “Tender Offer”) by its wholly owned subsidiary Rackspace Technology Global, Inc. (the “Company”) to purchase for cash any and all of the Company's outstanding 8.625% Senior Notes due 2024 (the “Notes”). The Tender Offer expired at the end of the day, 12:00 midnight, New York City time on Monday, December 14, 2020 (the “Expiration Time”).

Rackspace Technology Announces Final Results of Tender Offer

Human.Ai Expected to Save 70% on Infrastructure Costs Human.Ai Expected to Save 70% on Infrastructure Costs

Rackspace Technology and Humen.Ai Collaborate to Streamline Artificial Intelligence-Powered Dance App

LONDON, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), the multicloud solutions provider, has extended its work with the British Heart Foundation to provide support to its online gift shop ahead of Christmas.

Rackspace Technology migrates the British Heart Foundation's online gift shop to VMware

Rackspace Technology (RXT) saw a big move last session, as its shares jumped nearly 10% on the day, amid huge volumes.

Rackspace Technology (RXT) Surges: Stock Moves 9.6% Higher

SAN ANTONIO, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end cloud technology solutions company announced today that it has achieved Amazon Web Services (AWS) Travel and Hospitality Competency status.

Rackspace Technology Achieves AWS Travel and Hospitality Competency Status

Rackspace Technology announces new professional services and featured solutions at AWS re:Invent 2020 to support customers as they build the future of technology on AWS Rackspace Technology announces new professional services and featured solutions at AWS re:Invent 2020 to support customers as they build the future of technology on AWS

Rackspace Technology Among the First to Support the Launch of Professional Services in AWS Marketplace, Announces New Professional Services & Solutions at AWS re:Invent 2020

Received 4 highest possible criteria scores within the current offering category and 4 in the strategy category criteria

Rackspace Technology Named a Leader in Multicloud Managed Services Providers by Independent Research Firm

SAN ANTONIO, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Onica , a Rackspace Technology™  (NASDAQ: RXT) company, Premier Consulting Partner in the Amazon Web Services (AWS) Partner Network (APN) and audited AWS Managed Service Provider, today announced it has brought expanded data modernization and machine learning capabilities to PipeSearch , a U.S.-based software company that connects and supports the global pipe industry. Rackspace Technology aided PipeSearch's efforts to revolutionize the pipe industry with a modern supply chain solution.

Onica, a Rackspace Technology Company, and PipeSearch, a Global Tubular Supply Chain Platform

LONDON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, is supporting the International Air Transport Association (IATA) to achieve its goal of developing airline standards for the future.

Rackspace Technology and IATA Pilot Next-Generation Airline Standards with DevOps and AWS

SAN ANTONIO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, will hold the virtual event How Businesses are using AI and Machine Learning Today on December 9th at 10:00 am CT as the final installment of the company's Solve Strategy Series.

UPDATE -- Rackspace Technology Announces New Solve Strategy Series Webinar: How Businesses are using AI and Machine Learning Today

SAN ANTONIO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) (the “Company”) today announced the early tender results for its previously announced tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 8.625% Senior Notes due 2024 (the “Notes”). The Tender Offer is subject to the terms and conditions set forth in the Offer to Purchase, dated November 16, 2020, relating thereto (the “Offer to Purchase”).

Rackspace Technology Global Announces Early Tender Offer Results

SAN ANTONIO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, will hold the virtual event How Businesses are using AI and Machine Learning Today on December 9th at 10:00 am CT as part of the company's Solve Strategy Series.

Rackspace Technology Announces New Solve Strategy Series Webinar: How Businesses are using AI and Machine Learning Today

SAN ANTONIO, Nov. 23, 2020 (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 Credit Suisse 24th Annual Technology Conference on Monday, November 30, 2020. Mr. Jones and Mr. Maletira will participate in a fireside chat at approximately 11:00am ET and be available for investor meetings.

Rackspace Technology to Present at the Credit Suisse 24th Annual Technology Conference

Despite the ongoing pandemic and the economic and operational challenges it continues to bring, Rackspace successfully managed to increase its revenue ($1,990.9 Billion 9 month in 2020 vs $1,811 Billion in 2019).

Rackspace bets on multi-cloud expertise

SAN ANTONIO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, announced the results of a new survey, “To Build or To Buy?,” which reveals that while the ratio of building vs buying applications has not changed, the way that customers assess whether to build or buy has changed.

Rackspace Technology Survey Sheds Light on the Shifting Application Build vs. Buy Equation

LONDON, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has been named APN Migration Partner of the Year for UK and Ireland.

Rackspace Technology Wins APN Migration Partner of the Year Award 2020 for UK and Ireland

SAN ANTONIO, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced that Kevin Jones, Chief Executive Officer, and Dustin Semach, Chief Financial Officer, will participate in the J.P. Morgan Ultimate Services Investor Conference on Thursday, November 19, 2020. Mr. Jones and Mr. Semach will participate in a fireside chat at approximately 11:50am ET and be available for investor meetings.

Rackspace Technology to Participate in the 2020 J.P. Morgan Ultimate Services Investor Conference

SAN ANTONIO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (the “Company”) today announced that it has priced its offering of $550.0 million aggregate principal amount of 5.375% Senior Notes due 2028 (the "Notes") at an issue price of 100.000%. The closing of the offering is expected to occur on December 1, 2020, and is subject to customary closing conditions.

Rackspace Technology Global Announces Pricing of $550 Million Notes Offering

SAN ANTONIO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (the “Company”) today announced that it is commencing a tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 8.625% Senior Notes due 2024 (the “Notes”).

Rackspace Technology Global Announces Tender Offer for its 8.625% Senior Notes due 2024

SAN ANTONIO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (the “Company”) today announced that is proposing to issue $550.00 million aggregate principal amount of senior 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 Global Announces Proposed $550 Million Notes Offering

LONDON, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT), the multicloud solutions provider, is supporting Plus500's multicloud environment, having migrated services to Google Cloud whilst managing the existing VMware private cloud platform. Plus500's highly sensitive data is also now guarded by Rackspace Managed Security.

Multicloud services from Rackspace Technology enables Plus500 to securely manage over 3 million trades every month

Rackspace Technology, Inc. (RXT) CEO Kevin Jones on Q3 2020 Results - Earnings Call Transcript

Rackspace Technology's (RXT) CEO Kevin Jones On Q3 2020 Results - Quick Version Earnings Call Transcript

News for Rackspace Technology, Inc. Stock (RXT)