---
schema_version: "secwatch.filing_event.v1"
accession: "0001810019-24-000085"
form_type: "8-K"
ticker: "RXT"
cik: "0001810019"
company_name: "Rackspace Technology, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:44:58.992529+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001810019-24-000085
- form_type: 8-K
- ticker: RXT
- cik: 0001810019
- company_name: Rackspace Technology, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000085/0001810019-24-000085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000085/rxt-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001810019-24-000085
- JSON: https://secwatch.observer/filing/0001810019-24-000085.json
- Plain text: https://secwatch.observer/filing/0001810019-24-000085.txt

## Key facts
- Earnings Releases
  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
  source text: 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 •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000085/0001810019-24-000085-index.htm

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