secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001810019-23-000126
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/0001810019-23-000126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000126/rxt-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001810019-23-000126

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