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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Alliance Combines Access to Rapid Development via Low-Code Platform with Access to Managed Support on Public and Private Clouds Alliance Combines Access to Rapid Development via Low-Code Platform with Access to Managed Support on Public and Private Clouds

Rackspace Technology and Mendix Partnership Demonstrates Commitment to Leveraging Innovative Technologies to Transform Businesses and New Growth Opportunities for Customers

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Designation awarded for providing top-tier services in infrastructure, IT performance, application and service management, cybersecurity, data management, and process optimization Designation awarded for providing top-tier services in infrastructure, IT performance, application and service management, cybersecurity, data management, and process optimization

Rackspace Technology Recognized as a Leader in Frost Radar: Healthcare Enterprise Cloud Managed Services Providers, 2024 for Growth Potential and Innovation in Healthcare Enterprise

Seamless migration to AWS delivers improved customer experience, optimized operations, and the latest cloud technologies to support future growth Seamless migration to AWS delivers improved customer experience, optimized operations, and the latest cloud technologies to support future growth

Rackspace Technology Enhances User Experience and Operational Performance for Sharestates through AWS Cloud Modernization

New cloud environment delivers transformative results, enabling new video monetization and distribution opportunities New cloud environment delivers transformative results, enabling new video monetization and distribution opportunities

Rackspace Technology Cloud Solutions Transforms Video Content Management for Young Hollywood

Recognition results from a combination of best-in-class products and solutions with leading-edge information technology consulting and services to solve customers' business and IT challenges Recognition results from a combination of best-in-class products and solutions with leading-edge information technology consulting and services to solve customers' business and IT challenges

Rackspace Technology Further Establishes Market Leadership by Being Named Dell Technologies Global Alliances Service Provider of the Year, Americas

Rackspace to host critical workloads in the healthcare industry while lowering cost Rackspace to host critical workloads in the healthcare industry while lowering cost

Rackspace Technology Epic Infrastructure Managed Services Increases Seattle Children's Epic Electronic Health Record Availability

Rackspace Technology, Inc. (NASDAQ:RXT ) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Sagar Hebbar - Vice President, Corporate Finance and Investor Relations Amar Maletira - Chief Executive Officer Mark Marino - Chief Financial Officer Conference Call Participants Kevin McVeigh - UBS Robert Majek - Raymond James Ramsey El-Assal - Barclays Operator Good afternoon and thank you for standing by. Welcome to Rackspace Technology's First Quarter Earnings Conference Call.

Rackspace Technology, Inc. (RXT) Q1 2024 Earnings Call Transcript

SAN ANTONIO, May 09, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, today announced results for its first quarter ended March 31, 2024.

Rackspace Technology Reports First Quarter 2024 Results

SAN ANTONIO, April 24, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ®  (NASDAQ: RXT)— the leading end-to-end, hybrid multicloud and AI technology solutions company, today announced that it will release its first quarter 2024 financial results after the market closes on Thursday, May 9, 2024. Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 9, 2024) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology to Announce First Quarter 2024 Earnings May 9, 2024

Statewide nonprofit technology and innovation trade association promote ethical AI practices, fosters innovation, and drives economic growth in Ohio Statewide nonprofit technology and innovation trade association promote ethical AI practices, fosters innovation, and drives economic growth in Ohio

Foundry for AI by Rackspace (FAIR) Partners with OhioX to Drive Responsible AI Adoption in Ohio

SAN ANTONIO, April 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced the final results of the previously announced offer by its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans of the New Issuer, in each case, subject to the terms and conditions of the offering memorandum dated March 14, 2024 (as amended by the Company's press release dated March 29, 2024, the “Offering Memorandum”). The Exchange Offer expired at 5:00 p.m., New York City time, on April 12, 2024 (the “Expiration Time”).

Rackspace Technology Announces Final Results of the Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

Generative AI chatbot integrated with Enterprise Data Lake generates high-quality, actionable answers to complex business queries Generative AI chatbot integrated with Enterprise Data Lake generates high-quality, actionable answers to complex business queries

GLP Works with Foundry for AI by Rackspace (FAIR) Experts to Integrate Microsoft Azure OpenAI Service to Drive Innovative Asset Management Strategies

Rackspace Technology and Google Cloud's cutting-edge Generative AI Services and Solutions on the Rackspace FAIR Practice will be on display Rackspace Technology and Google Cloud's cutting-edge Generative AI Services and Solutions on the Rackspace FAIR Practice will be on display

Rackspace Technology Participates in Google Cloud Next as a Signature Sponsor to Showcase the Company's Google Cloud Offerings and Partnerships

SAN ANTONIO, March 29, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced that its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”) is amending the terms of its previously announced offer (the “Amendment”) to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by Rackspace's indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans (the “New FLFO Term Loans”) of the New Issuer, in each case, subject to the terms and conditions of the offering memorandum dated March 14, 2024 (as supplemented or otherwise modified from time to time, the “Offering Memorandum”).

Rackspace Technology Announces Increase to Late Exchange Consideration for Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

SAN ANTONIO, March 28, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced the early tender results of the previously announced offer by its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans (the “New FLFO Term Loans”) of the New Issuer, in each case, subject to the terms and conditions of the offering memorandum dated March 14, 2024 (as supplemented or otherwise modified from time to time, the “Offering Memorandum”).

Rackspace Technology Announces Early Tender Results of the Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

Next generation product set provides end-to-end, digitally sovereign cloud services Next generation product set provides end-to-end, digitally sovereign cloud services

Rackspace Technology Launches Rackspace UK Sovereign Services for Secure, Cost-Effective Workloads in the UK Public Sector and Regulated Services

Study Shows AI Investments Have Doubled in Past Year, Underscoring Accelerated Adoption Study Shows AI Investments Have Doubled in Past Year, Underscoring Accelerated Adoption

AI Transitioning from Ideation to Industrialization for Critical Business Operations, According to New Rackspace Technology FAIR 2024 AI Research

MUNICH, Germany, March 20, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end hybrid, multicloud and AI technology services company, has today announced it fully transformed the underlying technology for IFCO, a global leader in Reusable Packaging Containers (RPCs), migrating part of its legacy on-premise IT systems to a fully modernised Microsoft Azure cloud environment. The move to the cloud supports IFCO's growth agenda, as it needed a more flexible platform.

Rackspace Technology Migrates IFCO to Microsoft Azure for Cost Optimisation and Enhanced Flexibility to Support its Growth Agenda

SPOT offers cloud infrastructure auctioned in an open market model with a dynamic customer-driven bidding process that sets compute market price SPOT offers cloud infrastructure auctioned in an open market model with a dynamic customer-driven bidding process that sets compute market price

Rackspace Technology Introduces Rackspace SPOT, Cloud Infrastructure Auctioned in a Real-time Open Market and Delivered as Turnkey, Fully Managed Kubernetes Clusters

SAN ANTONIO, March 14, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, through its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”), today announced offers to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans (the “New FLFO Term Loans”) of the New Issuer.

Rackspace Technology Announces Launch of Exchange Offer Relating to its 3.50% First-Priority Senior Secured Notes due 2028

Rackspace Technology, Inc. (RXT) Q4 2023 Earnings Call Transcript

Rackspace (RXT) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to earnings of $0.06 per share a year ago.

Rackspace (RXT) Reports Q4 Loss, Tops Revenue Estimates

Company to Receive $275 Million of New Money to Advance Key Strategic Initiatives Company to Launch Public Exchange Offer to All Existing Term Loan Lenders and Secured Note Holders SAN ANTONIO, March 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI solutions company, today announced that it has closed a private debt exchange (the “Private Exchange”) with certain of its creditors representing more than 72% of the Company's first lien term loans and more than 64% of its first lien notes, as well as 100% of its Revolving Credit Facility (“RCF”) commitments.  Through the Private Exchange, Rackspace has eliminated more than $375 million of net debt and has received $275 million of new money (the “New Money Financing”) that will come to the balance sheet as additional liquidity to advance key strategic initiatives.

Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment

SAN ANTONIO, March 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end hybrid, multicloud, and AI solutions company, today announced results for its fourth quarter and year ended December 31, 2023.

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