---
schema_version: "secwatch.filing_event.v1"
accession: "0001810019-23-000126"
form_type: "8-K"
ticker: "RXT"
cik: "0001810019"
company_name: "Rackspace Technology, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:34:36.731304+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rackspace Q2 revenue down 3% YoY; Non-GAAP operating profit plunges 60%

## Summary
- Revenue $746M (-3% YoY); Public Cloud +3% to $435M, Private Cloud -11% to $311M.
- GAAP net loss $27M ($0.13 diluted) vs $41M loss; Non-GAAP loss per share ($0.06) vs prior EPS $0.17.
- Non-GAAP operating profit $39M, down 60% from $99M; cash from ops $38M in Q2.
- Q3 guide: rev $722-732M, Public Cloud $428-433M, Private Cloud $294-299M, Non-GAAP op profit $43-47M.
- Launched Foundry for AI by Rackspace (FAIR) for generative AI solutions.

## SEC filing metadata
- accession: 0001810019-23-000126
- form_type: 8-K
- ticker: RXT
- cik: 0001810019
- company_name: Rackspace Technology, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/0001810019-23-000126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/rxt-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001810019-23-000126
- JSON: https://secwatch.observer/filing/0001810019-23-000126.json
- Plain text: https://secwatch.observer/filing/0001810019-23-000126.txt

## Key facts
- Earnings Releases
  Rackspace Technology, Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $746 million, net income $(27) million, EPS $(0.13).
  - Period: the fiscal quarter ended June 30, 2023
  - Revenue: $746 million
  - Net income: $(27) million
  - EPS: $(0.13)
  - Result: reported results
  source text: filings, unless expressly incorporated by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Rackspace Technology Reports Second Quarter 2023 Results • Revenue of $746 million in the Second Quarter, down 3% Year-over-Year • Public Cloud Revenue grew 3% Year-over-Year to $435 million • Private Cloud Revenue was $311 million, down 11% Year-over-Year •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/0001810019-23-000126-index.htm
- Earnings Releases
  Rackspace Technology, Inc. updated its Q3 2023 guidance (initiated).
  - Period: Q3 2023
  - Guidance: initiated
  - Result: guidance update
  source text: Rackspace Technology is providing guidance as follows: Q3 2023 Guidance Total Revenue $722 - $732 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/0001810019-23-000126-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.