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.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

With Microsoft 365, inPhronesis, manages the data and intelligence that drives the management of pharmaceutical companies With Microsoft 365, inPhronesis, manages the data and intelligence that drives the management of pharmaceutical companies

Rackspace Technology Works with Biomedical Software Company inPhronesis to Modernize Email Infrastructure and Optimize its Knowledge Management Portal

SAN ANTONIO, March 28, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced that Srini Koushik, Rackspace Technology Executive Vice President and Chief Technology Officer has been inducted into the CIO Hall of Fame and received the Global Ohio CIO ORBIE® Award for organizations over $1 billion annual revenue and multi-national operations.

Rackspace Technology Chief Technology Officer Srini Koushik Inducted into CIO Hall of Fame and Awarded Global Ohio CIO ORBIE

SAN ANTONIO, March 27, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced that it has received the 2023 Singapore Microsoft Intelligent Data Platform, Data & AI Partner of the Year Award. This is the sixth consecutive year that the company has received the award in Singapore.

Rackspace Technology Wins 2023 Microsoft Singapore Partner of the Year Award

The award program honors forward-thinking employers for their unwavering commitment to employee engagement The award program honors forward-thinking employers for their unwavering commitment to employee engagement

Rackspace Technology Recognized as one of the Achievers 50 Most Engaged Workplaces® of 2023

Financial services firm moved its entire core business to the cloud and gained flexibility and the ability to create VMs instantly Financial services firm moved its entire core business to the cloud and gained flexibility and the ability to create VMs instantly

Rackspace Technology Supports Ohio National Chile IT Migration to the Cloud

Rackspace Technology Recognized for Breakthrough 15 Leaderboard Positions for Global, Americas and EMEA and Sourcing Standout 8th Consecutive Quarter Rackspace Technology Recognized for Breakthrough 15 Leaderboard Positions for Global, Americas and EMEA and Sourcing Standout 8th Consecutive Quarter

Rackspace Technology Named a Top 15 Sourcing Standout by ISG

Despite internal pushback to adoption, more organizations cite AI/ML as a high priority for solving critical business challenges Despite internal pushback to adoption, more organizations cite AI/ML as a high priority for solving critical business challenges

Amid Economic Uncertainty, New Rackspace Technology Survey Finds Organizations Turning to Artificial Intelligence and Machine Learning Technologies to Do More

SINGAPORE, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end multicloud solutions company today announced its partnership with global financial intelligence services company, Moody's Analytics. The partnership aimed to help Moody's Analytics manage datasets involving 400 million firms to empower the financial firm to improve their existing risk profile offering and bring new competitive services to their clients.

Rackspace Technology Works with Moody's Analytics to Analyze Data from 400 million Firms and Deliver Improved Risk Profile Offerings and Products

Wall Street cheered improving sales and earnings trends.

Why Rackspace Technology Stock Jumped on Thursday

Rackspace Technology, Inc. (NASDAQ:RXT ) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET Company Participants Robert Watson - VP, Corporate Finance Amar Maletira - CEO Bobby Molu - CFO Conference Call Participants Kevin McVeigh - Credit Suisse Ashwin Shirvaikar - Barclays Frank Louthan - Raymond James Brendan Biles - JPMorgan James Breen - William Blair Bradley Clark - BMO Capital Markets Operator Good afternoon and thank you for standing by. Welcome to Rackspace Technology's Fourth Quarter 2022 Earnings Conference Call.

Rackspace Technology, Inc. (RXT) Q4 2022 Earnings Call Transcript

Rackspace (RXT) delivered earnings and revenue surprises of 0% and 1.34%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Rackspace (RXT) Meets Q4 Earnings Estimates

Shares of RackSpace Technology Inc. RXT, -3.65% rallied more than 15% in the extended session Wednesday after the cloud-computing company beat Wall Street expectations for its adjusted quarterly profit and sales also topped views. RackSpace lost $214 million, or $1.01 a share, in the fourth quarter, compared with a loss of $83 million, or 39 cents a share, in the fourth quarter of 2021.

RackSpace stock jumps 15% after earnings beat

SAN ANTONIO, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its fourth quarter and year ended December 31, 2022.

Rackspace Technology Reports Fourth Quarter and Full Year 2022 Results

A faster and more responsive technology backbone enables data-empowered farming for the world's largest fresh multi-berry producer

Rackspace Technology Boosts Efficiency and Enables Optimized Data Management on VMware Private Cloud for Reiter Affiliated Companies

SAN ANTONIO, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT)— a leading end-to-end, multicloud technology solutions company, today announced that it will release its fourth quarter 2022 financial results after the market closes on Wednesday, February 22, 2023. Amar Maletira, Chief Executive Officer, and Bobby Molu, Chief Financial Officer, will host a conference call on the day of the release (February 22, 2023) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology to Announce Fourth Quarter 2022 Earnings on Wednesday, February 22, 2023

Partnership will Accelerate Saudi Arabia's Digital Transformation Journey and Help Achieve Vision 2030 Partnership will Accelerate Saudi Arabia's Digital Transformation Journey and Help Achieve Vision 2030

Saudi Data and AI Authority (SDAIA) and Rackspace Technology Sign Memorandum of Understanding

SAN ANTONIO, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced that CRN ® , a brand of The Channel Company, has named Rackspace Technology to its annual Cloud 100 list. This list honors the 100 Coolest Cloud Companies for 2023 across five key categories: infrastructure, monitoring and management, storage, software, and security.

UPDATE: CRN Recognizes Rackspace Technology as a Cloud 100 Company for 2023

CRN Recognizes Rackspace Technology as a Cloud 100 Company for 2023

SAN ANTONIO, Jan. 24, 2023 (GLOBE NEWSWIRE) -- As organizations look ahead to an uncertain 2023, Rackspace Technology (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, predicts that the continued evolution of cloud strategies, the adoption of more sophisticated data management models and the commoditization of artificial intelligence (AI) will be among the key trends driving companies' IT agendas.

Multicloud Evolution, Strategic Data Practices, and Commoditization of AI Among Key Trends to Watch in 2023, According to Rackspace Technology

There are strong secular trends supporting Rackspace Technology's long-term growth. RXT's strong customer relationship leads to efficient GTM model.

Rackspace Technology: To Wait For More Information On Reorg Before Investing

As businesses continue to shift from internally managed data centers to the cloud, Rackspace Technology provides targeted solutions for private cloud workloads As businesses continue to shift from internally managed data centers to the cloud, Rackspace Technology provides targeted solutions for private cloud workloads

Rackspace Technology Announces SDDC Enterprise, Business, and Flex to Help Organizations Manage Private Cloud Workloads and Meet Strategic Goals

Expanded long-term 360-degree relationship includes services and solutions that drive customer value, innovation, and sales opportunities while strengthening go-to-market relationship Expanded long-term 360-degree relationship includes services and solutions that drive customer value, innovation, and sales opportunities while strengthening go-to-market relationship

Rackspace Technology Announces Rapid Global Expansion of Services and Solutions for Google Cloud

Addition to Executive Management Team comes as multicloud solutions company kicks off 2023 with new strategy and operating model to drive transformation and growth Addition to Executive Management Team comes as multicloud solutions company kicks off 2023 with new strategy and operating model to drive transformation and growth

Rackspace Technology Taps Industry Veteran Brian Lillie as President, Private Cloud Business

Service offering will provide customers across AWS, Azure and GCP a 24x7 Unified Support Model Service offering will provide customers across AWS, Azure and GCP a 24x7 Unified Support Model

Rackspace Technology Launches Modern Operations, A New Managed Service Offering for Public Cloud

New York, New York--(Newsfile Corp. - January 7, 2023) - Pomerantz LLP is investigating claims on behalf of investors of Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ: RXT). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.The investigation concerns whether Rackspace and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

News for Rackspace Technology, Inc. Stock (RXT)