secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001810019-23-000080
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rackspace Q1 revenue $759M, net loss $612M on $543M goodwill impairment; guides Q2 below year-ago levels
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- Revenue $759M (-2% YoY); Public Cloud up 7% to $445M, Private Cloud down 12% to $314M.
- GAAP net loss $612M ($2.87/diluted) includes $543M goodwill impairment; non-GAAP operating profit $51M (-55% YoY).
- Non-GAAP loss per share ($0.02) vs non-GAAP EPS $0.22 in Q1 2022.
- Q2 guidance: revenue $725-735M, non-GAAP operating profit $33-37M, non-GAAP loss per share ($0.09)-($0.07).
- CEO says Q2 will be trough in profitability during this transformation year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000080/0001810019-23-000080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000080/rxt-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001810019-23-000080

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