Rackspace Technology Q1 revenue $691M (-9% YoY); Non-GAAP operating profit down 68% to $16M

Rackspace Technology, Inc.

2024-Q1 EPS reported -$2.91 revenue$690,800,000

Revenue $691M, down 9% YoY; Private Cloud $268M (-15%), Public Cloud $422M (-5%).
Loss from operations $(653)M includes $593M non-cash impairments; net loss per share $(2.48)-(2.94).
Non-GAAP operating profit $16M (down 68%); Non-GAAP loss per share $(0.11) vs $(0.02).
Q2 2024 guidance: revenue $668-678M, Non-GAAP op profit $20-22M, Non-GAAP EPS $(0.09)-(0.11).
Debt refinancing completed; cash $283M, no revolver drawn; operating cash flow $(90)M includes one-time refinancing fees.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Rackspace Technology, Inc. reported first quarter ended March 31, 2024 results: revenue $691 million.

Period: first quarter ended March 31, 2024
Revenue: $691 million
Result: reported results

Exact text from the filing

filings, unless expressly incorporated by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Rackspace Technology Reports First Quarter 2024 Results • Revenue of $691 million in the First Quarter, down 9% Year-over-Year • Private Cloud Revenue was $268 million, down 15% Year-over-Year • Public Cloud Revenue was $422 million, down 5% Year-over-Year •

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Source: SEC EDGAR

accession 0001810019-24-000085

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