secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001810019-23-000027
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rackspace Q4 revenue $787M (+1% YoY); net loss $(214)M; $217M impairment; Q1 guidance weak
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- Q4 revenue $787M (+1% YoY); full year revenue $3,122M (+4% YoY).
- Q4 net loss $(214)M ($(1.01)/share) vs $(83)M loss a year ago; Non-GAAP EPS $0.06, down 76% YoY.
- Recorded $217M in Q4 impairment charges ($129M goodwill in Apps & Cross Platform, $75M asset impairment for HQ relocation).
- Full year 2022 goodwill impairment $535M and asset impairment $146M, citing ransomware incident and macroeconomic factors.
- Q1 2023 guidance: revenue $752-762M, Non-GAAP operating profit $47-53M, Non-GAAP loss per share ($0.05)-($0.01).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000027/0001810019-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000027/rxt-20230222.htm
  HTML page:      https://secwatch.observer/filing/0001810019-23-000027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer