secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001810019-24-000085
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000085/0001810019-24-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000085/rxt-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001810019-24-000085

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