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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Foundry for Generative AI by Rackspace and the global Generative AI Google Cloud Center of Excellence combine to help enterprises realize the full potential of AI Foundry for Generative AI by Rackspace and the global Generative AI Google Cloud Center of Excellence combine to help enterprises realize the full potential of AI

Rackspace Technology Partners with Google Cloud to offer Cutting-edge Generative AI Services and Solutions using the FAIR Practice

Appointment comes as leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes Appointment comes as leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes

Rackspace Technology Appoints Visionary Technology Executive Srini Koushik as Global Head of New Spin-up - Foundry for Generative AI by Rackspace

Organizations are lagging in modernizing legacy apps and data; the study also finds that modernization initiatives lack clear leadership Organizations are lagging in modernizing legacy apps and data; the study also finds that modernization initiatives lack clear leadership

Failure to Modernize Key Apps and Data Limits Organizations' Ability to Benefit from Cutting-Edge AI Technologies According to New Rackspace Technology Survey

The cloud services specialist is wading into artificial intelligence (AI). It has launched an AI unit, FAIR.

Why Rackspace Stock Was Blasting Higher This Week

SAN ANTONIO, June 14, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT) — a leading end-to-end, multicloud technology solutions company, today announced its participation in the Texas Digital Government Summit 2023, held on June 29 in Austin, Texas.

Rackspace Technology to Attend Texas Digital Government Summit 2023

Leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes Leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes

Rackspace Technology Launches Foundry for Generative AI by Rackspace

The award recognizes achievements in server and storage solutions for customers The award recognizes achievements in server and storage solutions for customers

Rackspace Technology Wins Excellence in Server and Storage Sales, Americas Award

Contract provides a streamlined procurement process and accelerates the delivery of services to the State of Texas Contract provides a streamlined procurement process and accelerates the delivery of services to the State of Texas

Rackspace Technology Awarded a New Cloud Cooperative Services Contract by Texas Department of Information Resources

CCS optimized its remote workforce and reduced its Total Cost of Ownership with a move to a cloud-native environment CCS optimized its remote workforce and reduced its Total Cost of Ownership with a move to a cloud-native environment

Rackspace Technology Works with CCS Presentation Systems to Complete Complex Cloud Transition and Improve Security, Scalability, and Productivity for the Leading Audio-visual Integrator

Introducing scalable, secure S3 unstructured data storage with all-in pricing Introducing scalable, secure S3 unstructured data storage with all-in pricing

Rackspace Object Storage Built on DELL ECS Storage Systems Helps Organizations Securely Store and Utilize Large Pools of Unstructured Data

93% of Education IT Managers and 97% of Research IT Managers have already introduced, or are planning to introduce, AI and ML at work 93% of Education IT Managers and 97% of Research IT Managers have already introduced, or are planning to introduce, AI and ML at work

New EMEA Research by Rackspace Technology Finds Artificial Intelligence (AI) and Machine Learning (ML) Have Increased Productivity, Innovation, Intelligent Applications, and Results

Panel to discuss Digital Enterprise: Version 2030 topic on May 16, 2023 Panel to discuss Digital Enterprise: Version 2030 topic on May 16, 2023

Rackspace Technology CEO Amar Maletira to Speak at 20th Annual MIT Sloan CIO Symposium

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While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.

5 Formerly Sizzling High-Flying Stocks Are Buy Rated and Now Trading Under $10

Rackspace Technology, Inc. (NASDAQ:RXT ) Q1 2023 Results Conference Call May 9, 2023 5:00 PM ET Company Participants Robert Watson - VP, Corporate Finance Amar Maletira - CEO Bobby Molu - CFO Conference Call Participants Frank Louthan - Raymond James Kevin McVeigh - Credit Suisse Puneet Jain - JP Morgan Brad Clark - Bank of Montreal Operator Good afternoon and thank you for standing by. Welcome to Rackspace Technology's First Quarter 2023 Earnings Conference Call.

Rackspace Technology, Inc. (RXT) Q1 2023 Earnings Call Transcript

Rackspace (RXT) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to earnings of $0.22 per share a year ago.

Rackspace (RXT) Reports Q1 Loss, Tops Revenue Estimates

SAN ANTONIO, May 09, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its first quarter ended March 31, 2023.

Rackspace Technology Reports First Quarter 2023 Results

SAN ANTONIO, May 09, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced the appointment of Betsy Atkins and Tony Scott to its board of directors, effective June 16, 2023. Dhiren Fonseca, who has served on the board since 2016, will step down to focus on other commitments also effective June 16, 2023.

Rackspace Technology Appoints Leading Technology Executives Betsy Atkins and Tony Scott to Board of Directors

Today, we circle back on Rackspace Technology, Inc., a once-promising cloud concern that has fallen on hard times. The company recently had a 'kitchen sink' quarter which contained numerous charges and write downs.

Rackspace Technology: Everything But The 'Kitchen Sink'

Nonprofit Organization Showcases Early Movers in Advancing Global Sustainability Through Technology Leadership Nonprofit Organization Showcases Early Movers in Advancing Global Sustainability Through Technology Leadership

SustainableIT.org Announces Rackspace Technology CTO Srini Koushik as Honoree of Inaugural Impact Awards for Technology Contributions to ESG Initiatives

SYDNEY, Australia, April 17, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), the leading end-to-end multicloud technology solution company, today announced the results of its successful partnership with Connexion Telematics (ASX: CXZ) (“Connexion”), a world-class developer of enterprise Software as a Service solutions for the global automotive industry.

Connexion Telematics Partners with Rackspace Technology to Improve Customer Journeys

HTCE, deemed "the smartest square km in Europe," comprises an ecosystem of nearly 300 tech companies and is home to more than 12,500 innovators, researchers, and engineers HTCE, deemed "the smartest square km in Europe," comprises an ecosystem of nearly 300 tech companies and is home to more than 12,500 innovators, researchers, and engineers

Rackspace Technology Becomes First Multicloud Service Provider to Develop Partnership Agreement with HTCE's AI Innovation Center

SAN ANTONIO, April 10, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT) — a leading end-to-end, multi-cloud technology solutions company, today announced the appointments of Kellie Teal-Guess as Chief Human Resources Officer and Michael Bross as Chief Legal Officer.

Rackspace Technology Taps Kellie Teal-Guess as Chief Human Resources Officer and Michael Bross as Chief Legal Officer

Award Recognizes Rackspace Technology's Outstanding Customer Experiences and Strengthening of Customer-Partner Relationships Award Recognizes Rackspace Technology's Outstanding Customer Experiences and Strengthening of Customer-Partner Relationships

Rackspace Technology Named Winner of VMware 2023 Lifecycle Services Award for the Americas Region

The UK healthcare NHS trust modernized technological capabilities resulting in greater patient data security and a reduction in costs by 15% to 18% The UK healthcare NHS trust modernized technological capabilities resulting in greater patient data security and a reduction in costs by 15% to 18%

Rackspace Technology Leveraged a Combination of Public, Private, and Government Cloud Solutions for CNWL NHS Foundation Trust to Expand its Service Capabilities while Safeguarding Sensitive Data

The strategic agreement will support growth and innovation for Braze's expanding geographical footprint The strategic agreement will support growth and innovation for Braze's expanding geographical footprint

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