RXT

MKT CAP:$383M

Rackspace Technology, Inc.

Market Cap

$383M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$1.58+$0.61 (+62.17%)

Apr 24, 2026

Company Details

Rackspace Technology, Inc. operates as a multi cloud technology services company worldwide. It operates through Multicloud Services and Apps & Cross Platform segments. The company's Multicloud Services segment provides public and private cl...

CEO

Gajen Kandiah

IPO Date

Aug 5, 2020

Website

www.rackspace.com

Key Metrics TTM

Revenue

$2.7B

-3.1% YoY

Net Income

-$226M

EPS (Diluted)

-$0.95

Free Cash Flow

$91M

Revenue / Share

$11.00

Gross Margin

18.9%

Operating Margin

-3.7%

Net Margin

-8.4%

FCF Margin

3.4%

P/S

0.1x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 6, 2026

$2.7B-1.9%EPS -$0.95

Q4 2025

Mar 6, 2026

$683MEPS -$0.13

Q3 2025

Nov 10, 2025

$671M-0.7%EPS -$0.28

Q2 2025

Aug 11, 2025

$666M-2.7%EPS -$0.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$777M	$234M	-$27M
Q1 22	$776M	$226M	$21M
Q2 22	$772M	$224M	$4M
Q3 22	$788M	$207M	-$477M
Q4 22	$787M	$200M	-$227M
Q1 23	$759M	$170M	-$581M
Q2 23	$746M	$153M	-$64M
Q3 23	$732M	$152M	-$239M
Q4 23	$720M	$154M	-$15M
Q1 24	$691M	$133M	-$653M
Q2 24	$685M	$131M	-$54M
Q3 24	$676M	$138M	-$174M
Q1 25	$665M	$127M	-$38M
Q2 25	$666M	$129M	-$25M
Q3 25	$671M	$130M	-$34M
Q4 25	$683M	$120M	-$3M

Valuation

Quarter	P/S	P/E
Q4 21	1.0x	—
Q1 22	0.8x	—
Q2 22	0.5x	—
Q3 22	0.3x	—
Q4 22	0.2x	—
Q1 23	0.1x	—
Q2 23	0.2x	—
Q3 23	0.2x	—
Q4 23	0.1x	—
Q1 24	0.1x	—
Q2 24	0.2x	—
Q3 24	0.2x	—
Q1 25	0.1x	—
Q2 25	0.1x	—
Q3 25	0.1x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$60M	$38M
Q1 22	$65M	$45M
Q2 22	$84M	$57M
Q3 22	$71M	$52M
Q4 22	$28M	$13M
Q1 23	-$2M	-$14M
Q2 23	$38M	$14M
Q3 23	$267M	$239M
Q4 23	$72M	$38M
Q1 24	-$90M	-$118M
Q2 24	$24M	-$15M
Q3 24	$52M	$27M
Q1 25	$13M	$4M
Q2 25	$8M	-$12M
Q3 25	$71M	$43M
Q4 25	$60M	$56M

Capital Expenditures

Quarter	CapEx
Q4 21	$21M
Q1 22	$19M
Q2 22	$27M
Q3 22	$19M
Q4 22	$15M
Q1 23	$12M
Q2 23	$23M
Q3 23	$28M
Q4 23	$34M
Q1 24	$28M
Q2 24	$39M
Q3 24	$25M
Q1 25	$8M
Q2 25	$21M
Q3 25	$28M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+8.5%	+11.5%
Q1 22	+6.8%	+7.5%
Q2 22	+3.8%	+3.7%
Q3 22	+3.3%	+65.2%
Q4 22	+1.2%	+26.1%
Q1 23	-2.2%	+77.5%
Q2 23	-3.4%	+5.5%
Q3 23	-7.0%	-23.1%
Q4 23	-8.6%	-27.5%
Q1 24	-8.9%	+0.3%
Q2 24	-8.2%	-8.8%
Q3 24	-7.7%	-12.6%
Q1 25	-7.5%	-4.2%
Q2 25	-3.5%	-48.5%
Q3 25	-2.0%	-4.5%
Q4 25	+1.0%	-19.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$19M	2.4%
Q1 22	$17M	2.2%
Q2 22	$23M	3.0%
Q3 22	$19M	2.5%
Q4 22	$10M	1.3%
Q1 23	$15M	2.0%
Q2 23	$20M	2.6%
Q3 23	$17M	2.3%
Q4 23	$14M	1.9%
Q1 24	$13M	1.9%
Q2 24	$20M	2.8%
Q3 24	$16M	2.3%
Q1 25	$12M	1.8%
Q2 25	$10M	1.5%
Q3 25	$18M	2.7%
Q4 25	$5M	0.7%

OpEx Breakdown

Quarter	SG&A
Q4 21	$209M
Q1 22	$205M
Q2 22	$220M
Q3 22	$220M
Q4 22	$210M
Q1 23	$208M
Q2 23	$217M
Q3 23	$177M
Q4 23	$166M
Q1 24	$192M
Q2 24	$185M
Q3 24	$170M
Q1 25	$165M
Q2 25	$154M
Q3 25	$164M
Q4 25	$124M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 21	8.5%	11.8%	20.4
Q1 22	6.8%	17.2%	24.0
Q2 22	3.8%	13.7%	17.5
Q3 22	3.3%	-47.1%	-43.8
Q4 22	1.2%	-14.5%	-13.3
Q1 23	-2.2%	-60.1%	-62.3
Q2 23	-3.4%	21.0%	17.6
Q3 23	-7.0%	-11.1%	-18.1
Q4 23	-8.6%	26.5%	18.0
Q1 24	-8.9%	-76.3%	-85.2
Q2 24	-8.2%	12.8%	4.6
Q3 24	-7.7%	-9.8%	-17.6
Q1 25	-7.5%	4.5%	-3.0
Q2 25	-3.5%	7.0%	3.4
Q3 25	-2.0%	5.6%	3.6
Q4 25	1.0%	12.2%	13.3

Rule of 40

Revenue Segments

Quarter	Apps & Cross Platform Segment	Multi-Cloud Services Segment	OpenStack Public Cloud Segment
Q4 21	$95M	$639M	$43M
Q1 22	$95M	$640M	$41M
Q2 22	$100M	$633M	$39M
Q3 22	$102M	$650M	$36M
Q4 22	$101M	$652M	$35M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$269M	$0	$269M
Q2 22	$261M	$0	$261M
Q3 22	$249M	$0	$249M
Q4 22	$228M	$0	$228M
Q1 23	$174M	$0	$174M
Q2 23	$160M	$0	$160M
Q3 23	$278M	$0	$278M
Q4 23	$197M	$0	$197M
Q1 24	$283M	$0	$283M
Q2 24	$190M	$0	$190M
Q3 24	$157M	$0	$157M
Q4 24	$144M	$0	$144M
Q1 25	$128M	$0	$128M
Q2 25	$104M	$0	$104M
Q3 25	$100M	$0	$100M
Q4 25	$106M	$0	$106M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	210M	+0.5%	+4.8%
Q1 22	211M	+0.5%	+3.3%
Q2 22	210M	-0.9%	+0.8%
Q3 22	211M	+0.6%	+0.7%
Q4 22	212M	+0.4%	+0.6%
Q1 23	213M	+0.8%	+0.9%
Q2 23	215M	+0.9%	+2.7%
Q3 23	216M	+0.4%	+2.5%
Q4 23	220M	+1.7%	+3.8%
Q1 24	220M	+0.1%	+3.1%
Q2 24	230M	+4.5%	+6.7%
Q3 24	226M	-1.4%	+4.8%
Q1 25	232M	+2.4%	+5.6%
Q2 25	238M	+2.6%	+8.3%
Q3 25	240M	+1.0%	+4.7%
Q4 25	244M	+1.6%	+7.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$117.8K	7K
Q1 22	$117.5K	7K
Q2 22	$117.0K	7K
Q3 22	$119.3K	7K
Q4 22	$115.7K	7K
Q1 23	$111.6K	7K
Q2 23	$109.8K	7K
Q3 23	$107.7K	7K
Q4 23	$124.1K	6K
Q1 24	$119.1K	6K
Q2 24	$118.1K	6K
Q3 24	$116.5K	6K
Q1 25	$130.5K	5K
Q2 25	$130.6K	5K
Q3 25	$131.6K	5K
Q4 25	$136.6K	5K

Revenue / Employee