Rackspace Technology Inc
NASDAQ:RXT
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Rackspace Technology Inc
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Rackspace Technology Inc
Rackspace Technology, Inc. engages in the provision of end-to-end multi-cloud technology services. The company is headquartered in San Antonio, Texas and currently employs 6,600 full-time employees. The company went IPO on 2020-08-05. The firm designs, builds and operates cloud environments across technology platforms. The firm operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. Its Multicloud Services segment includes its multicloud services offerings, as well as professional services related to designing and building multicloud solutions and cloud-native applications. Its 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. Its OpenStack Public Cloud segment enables to run applications on a public cloud that is built on open-source technology. The company also enables public cloud and managed hosting platforms to work, through technologies such as RackConnect tool.
Rackspace Technology, Inc. engages in the provision of end-to-end multi-cloud technology services. The company is headquartered in San Antonio, Texas and currently employs 6,600 full-time employees. The company went IPO on 2020-08-05. The firm designs, builds and operates cloud environments across technology platforms. The firm operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. Its Multicloud Services segment includes its multicloud services offerings, as well as professional services related to designing and building multicloud solutions and cloud-native applications. Its 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. Its OpenStack Public Cloud segment enables to run applications on a public cloud that is built on open-source technology. The company also enables public cloud and managed hosting platforms to work, through technologies such as RackConnect tool.
Revenue Beat: Rackspace beat its fourth quarter revenue guidance, driven by strong performance in public cloud services and infrastructure.
Profitability: Operating profit and margins were above guidance, with non-GAAP operating profit at $41 million and margins up 120 basis points sequentially.
Private Cloud: Private cloud revenue was below guidance due to a slow ramp of a large health care contract, but full-year performance stabilized after past years of decline.
AI Growth: AI is highlighted as a major growth vector, with Rackspace building a platform engineering model and expanding partnerships, especially with Palantir.
Segment Trends: Public cloud services revenue grew 28% year-over-year in Q4, while infrastructure resale also performed strongly.
Guidance Update: The company is moving to annual guidance, projecting $2.6–2.7 billion in 2026 revenue, with private cloud revenue expected to grow 6% and public cloud to decline 6% due to a contract exit.
Cash & Liquidity: Ended Q4 with $106 million cash on hand, $397 million in total liquidity, and strong free cash flow.
