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 Q4 2020

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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.

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Amazon

Amazon.com Inc. AMZN, +0.77% is exploring acquiring a minority stake in cloud-services company Rackspace Technology Inc.

Amazon in talks to invest in cloud-services company Rackspace: report

Rackspace Technology Inc. RXT, +11.59% shares rallied Monday following a report that Amazon.com Inc. was in early talks to invest in the cloud-technology services company

Rackspace stock rallies on report of Amazon interest in stake

Reuters reported Monday that Amazon is interested in acquiring a minority stake in Rackspace, which helps companies shift their data to Amazon Web Services.

Rackspace shares surge on report that Amazon is in talks to invest in company

Amazon.com Inc is in preliminary talks to invest in U.S. cloud services provider Rackspace Technology Inc, people familiar with the discussion said on Monday.

Exclusive: Amazon in talks to invest in cloud services company Rackspace, say sources

SAN ANTONIO, Aug.  14, 2020  (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) today announced it has partnered with Babbly to develop and manage AWS infrastructure that helps parents track and improve their children’s early speech development. The partnership helps Babbly focus on making improvements to its application and adding features and capabilities to create a better customer experience.

Rackspace Technology Improves Babbly Infrastructure Scalability and Reliability to Empower Child Development Tracking Solutions

SAN ANTONIO, Aug.  13, 2020  (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (NASDAQ: RXT) (the “Company”) today announced that it will release its second quarter 2020 financial results after the market closes on Monday, August 31, 2020. Kevin Jones, Chief Executive Officer, and Dustin Semach, Chief Financial Officer, will also host a conference call on the day of the release (August 31, 2020) at 5:00 pm ET to discuss the Company’s financial results.

Rackspace Technology to Announce Second Quarter 2020 Earnings on Monday, August 31, 2020

SAN ANTONIO, Aug.  13, 2020  (GLOBE NEWSWIRE) -- Rackspace Technology™ (NASDAQ: RXT) today announced its support for Big Ass Fans to deliver an efficient, secure, and cost-effective IoT infrastructure management solution on AWS.

Rackspace Technology Enhances Big Ass Fans’ IoT Infrastructure Management on AWS

SAN ANTONIO, Aug.  12, 2020  (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (NASDAQ:RXT) (the “Company”) today announced that it is commencing a tender offer (the “Tender Offer”) to purchase for cash up to $600.0 million aggregate principal amount (the “Tender Cap”) of its approximately $1,120.2 million outstanding 8.625% Senior Notes due 2024 (the “Notes”).

Rackspace Technology Global Announces Tender Offer for Up to $600.0 million of its 8.625% Senior Notes due 2024

SAN ANTONIO, Aug.  11, 2020  (GLOBE NEWSWIRE) -- Rackspace TechnologyTM (NASDAQ: RXT) today announced its support for Humber College Institute of Technology & Advanced Learning in its strategic shift to digital infrastructure during the COVID-19 pandemic as the institution looks to enable the best possible future for its students.

Rackspace Technology Makes Remote Learning a Reality for Humber College

Rackspace Technology: Low Margins, Plenty Of Debt

Shares of Rackspace Technology Inc. RXT, -3.11% plunged 22% on their first day of trading Wednesday.

Rackspace shares sink 22% on first day of trading

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The pandemic shows no signs of letting up and the U.S. economy is in free-fall, but investors are still hungry for tech companies to hit the market.

Tech IPOs brush aside election concerns and power through coronavirus as investors seek growth

Rackspace Technology Inc. (NASDAQ: RXT) entered the market with a whimper in its initial public offering.

Rackspace’s IPO Is Severely Underwhelming

Four years after it went private, Rackspace Technology Inc. late Tuesday  announced pricing of its initial public offering: 33.5 million shares of common stock at $21 per share.

Rackspace sets pricing for IPO at $21 per share

Rackspace Technology, Inc. raised $704 million in its initial public offering Tuesday, pricing the shares at the lower end of its previously indicated range.

Apollo-Backed Rackspace Raises $704M In Underwhelming IPO

SAN ANTONIO--(BUSINESS WIRE)--Rackspace Technology, Inc. (“Rackspace Technology”) today announced the pricing of its initial public offering of 33,500,000 shares of its common stock at an initial public offering price of $21.00 per share.

Rackspace Technology Announces Pricing of Initial Public Offering

The Rackspace IPO looks to raise $754 million, giving the provider of cloud services a market value of $4.6 billion. It will price Tuesday and trade Wednesday under the ticker RXT.

News for Rackspace Technology, Inc. Stock (RXT)