Rackspace Technology, Inc. RXT
Rackspace Technology is a leading end-to-end hybrid cloud and AI solutions company. We serve as a trusted operator of the full technology stack, from governed private cloud infrastructure to AI deployed in production environments. From edge to core to cloud, we design, integrate and operate the infrastructure, data foundations and software platforms required to deliver business outcomes with predictable cost, resilience, security and compliance. Our solutions are purpose-built for regulated and mission-critical environments where uptime, data sovereignty and operational accountability are essential.
Cloud infrastructure has become the foundation of enterprise technology and AI is now reshaping how that infrastructure must be designed, operated and governed.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.69B | $2.74B | $2.96B | $3.12B | $3.01B | $2.71B | $2.44B | $2.45B | — |
| Cost of revenue | $2.18B | $2.20B | $2.33B | $2.27B | $2.07B | $1.72B | $1.43B | $1.45B | — |
| Gross profit | $506.4M | $533.4M | $628.8M | $856.9M | $936.8M | $984.4M | $1.01B | $1.01B | — |
| R&D | $39.1M | $45.4M | $43.7M | $24.5M | $28.3M | $36.7M | $56.0M | $74.7M | — |
| SG&A | $607.1M | $707.6M | $767.2M | $855.3M | $906.8M | $959.7M | $911.7M | $949.3M | — |
| Operating income | -$100.7M | -$909.1M | -$899.4M | -$679.0M | -$2.5M | $24.7M | $101.6M | -$237.2M | — |
| Interest expense | $82.7M | $98.0M | $221.6M | $208.5M | $205.1M | $268.4M | $329.9M | $281.1M | — |
| Pre-tax income | -$201.8M | -$881.5M | -$854.4M | -$897.7M | -$249.1M | -$312.0M | -$122.3M | -$500.5M | — |
| Income tax | $24.0M | $23.3M | $16.6M | $92.9M | $30.8M | $66.2M | $20.0M | $29.9M | — |
| Net income | -$225.8M | -$858.2M | -$837.8M | -$804.8M | -$218.3M | -$245.8M | -$102.3M | -$470.6M | — |
| EPS, basic | -0.95 | -3.82 | -3.89 | -3.81 | -1.05 | -1.37 | -0.62 | — | — |
| EPS, diluted | -0.95 | -3.82 | -3.89 | -3.81 | -1.05 | -1.37 | -0.62 | -2.85 | — |
| Shares, diluted (wtd. avg.) | $238.7M | $224.8M | $215.3M | $211.2M | $208.0M | $179.6M | $165.3M | $165.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $105.8M | $144.0M | $196.8M | $231.4M | $275.4M | $108.1M | $87.1M | $258.2M | $234.9M |
| Receivables | $266.5M | $298.8M | $339.7M | $622.2M | $554.3M | $483.0M | $350.3M | — | — |
| Total current assets | $517.8M | $618.8M | $738.1M | $1.07B | $989.5M | $758.5M | $543.7M | — | — |
| Goodwill | $740.1M | $735.7M | $1.45B | $2.16B | $2.71B | $2.76B | $2.75B | $2.47B | — |
| Other intangibles | $698.3M | $844.7M | $1.02B | $1.24B | $1.47B | $1.65B | $1.82B | — | — |
| Total assets | $2.80B | $3.05B | $4.10B | $5.46B | $6.33B | $6.38B | $6.27B | — | — |
| Accounts payable | $413.9M | $389.6M | $432.7M | $447.3M | $369.5M | $285.4M | $260.4M | — | — |
| Short-term debt | $27.3M | $29.2M | $23.0M | $23.0M | $23.0M | $43.4M | $29.0M | — | — |
| Total current liabilities | $766.7M | $766.6M | $799.5M | $856.5M | $837.4M | $742.2M | $671.9M | — | — |
| Long-term debt | $2.72B | $2.76B | $2.84B | $3.30B | $3.31B | $3.32B | $3.84B | — | — |
| Total liabilities | $4.02B | $4.06B | $4.25B | $4.83B | $5.00B | $4.99B | $5.37B | — | — |
| Retained earnings | -$3.91B | -$3.68B | -$2.82B | -$1.99B | -$1.18B | -$963.3M | -$717.5M | — | — |
| Total equity | -$1.22B | -$1.00B | -$154.5M | $629.5M | $1.33B | $1.38B | $898.8M | $907.8M | $1.37B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $151.4M | $39.9M | $374.9M | $246.7M | $370.8M | $116.7M | $292.9M | $429.8M | — |
| Depreciation and amortisation | $151.4M | $141.3M | $208.7M | $220.9M | $245.1M | — | — | — | — |
| Stock-based compensation | $45.1M | $63.4M | $65.4M | $69.5M | $75.4M | $74.5M | $30.2M | $20.0M | — |
| Capital expenditure | $60.8M | $111.1M | $96.9M | $80.4M | $108.4M | $116.5M | $198.0M | $294.3M | — |
| Investing cash flow | -$58.4M | -$86.6M | -$96.0M | -$97.9M | -$69.0M | -$128.4M | -$386.5M | -$348.3M | — |
| Financing cash flow | -$134.6M | -$3.0M | -$312.8M | -$187.0M | -$132.2M | $29.9M | -$79.2M | -$53.7M | — |
| Buybacks | — | $0 | $0 | $31.0M | $0 | $0 | $2.2M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001810019-26-000032.
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