The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix including due to acquisition activity, or other changes to our strategy or business operations. Rackspace Technology Revenue (Quarterly): 656.50M for June 30, 2020. These forward-looking statements relate to anticipated financial performance, management’s plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, our ability to successfully respond to the challenges posed by the COVID-19 pandemic, and other matters. IT services. Fiscal year is January-December. Other companies may calculate similarly-titled non-GAAP measures differently, limiting their usefulness as comparative measures. Net loss was $101 million in the third quarter of 2020, compared to net loss of $61 million in the third quarter of 2019. Other companies, including our peer companies, may calculate similarly-titled measures in a different manner from us, and therefore, our non-GAAP measures may not be comparable to similarly-tiled measures of other companies. Revenue was $682 million in the third quarter of 2020, an increase of 13% as compared to revenue of $602 million in the third quarter of 2019. In 2019, Rackspace reported revenue of $2.44 billion and a net loss of $102.3 million. Rackspace Technology Corporate Communications Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. San Antonio’s Rackspace Technology Inc. announced Monday a second-quarter net loss of $33 million in its first earnings report since going public Aug. 5. All statements, other than statements of historical fact, included in this document are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. Rackspace Technology cautions that these statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document, including among others, risk factors that are described in Rackspace Technology, Inc.’s Registration Statement on Form S-1 (File No. Represents historical management fees pursuant to management consulting agreements. Kevin has held global leadership roles at Electronic Data … Other companies may calculate similarly-titled non-GAAP measures differently, limiting their usefulness as comparative measures. Rackspace Technology has made statements in this press release and other reports, filings, and other public written and verbal announcements that are forward-looking and therefore subject to risks and uncertainties. As of September 30, 2020, we had cash and cash equivalents of $253 million with no balance outstanding on our Revolving Credit Facility. The non-GAAP tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix including due to acquisition activity, or other changes to our strategy or business operations. Revenue for the third quarter of 2020 was positively impacted by the acquisition of Onica Holdings LLC (“Onica”) in November 2019 as well as new customer acquisitions and … All statements, other than statements of historical fact, included in this document are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. SAN ANTONIO, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its second quarter ended June 30, 2020. Second Quarter Revenue of $657 million, up 9% Year-over-Year, Record Quarterly Bookings of $288 million, an increase of 107% Year-over-Year, Net loss of $33 million, or ($0.20) per diluted share, Adjusted EBITDA was $188 million and Adjusted EBITDA margin was 29%. That culture is still going strong, Rackspace says, even after the company changed ownership in November. Specifically, in Q3 2020's revenue was $681.7M; in Q2 2020, it was $656.5M; in Q3 2019, it was $601.7M; in Q2 2019, Rackspace Technology's revenue was $602.4M. IR Contact Solve cloud challenges with a managed Microsoft Azure solution that helps you build new revenue streams, increase efficiency and deliver incredible experiences. Includes gains and losses on investment and from dispositions, including our investment in CrowdStrike. Adjusted EBITDA, along with other quantitative and qualitative information, is also the principal financial measure used by management and our board of directors in determining performance-based compensation for our management and key employees. Our presentation of Adjusted Net Income (Loss), Adjusted EBIT and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these items. We define Adjusted Net Income (Loss) as net income (loss) adjusted to exclude the impact of non-cash charges for share-based compensation and cash charges related to the settlement of share-based awards in connection with the November 2016 merger, transaction-related costs and adjustments, restructuring and transformation charges, management fees, the amortization of acquired intangible assets and certain other non-operating, non-recurring or non-core gains and losses, as well as the tax effects of these non-GAAP adjustments. Rackspace Technology has not reconciled Consolidated revenue growth, Year-over-Year in constant currency or Core Revenue growth, Year-over-Year in constant currency guidance to the most directly comparable GAAP measures because it does not provide guidance on forward-looking foreign exchange rates given their potential variability, which could be significant. Forward-looking statements can be identified by various words such as “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions. Other companies, including our peer companies, may calculate similarly-titled measures in a different manner from us, and therefore, our non-GAAP measures may not be comparable to similarly-tiled measures of other companies. Rackspace US's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Joe Crivelli Reflects mainly changes in the fair value of foreign currency derivatives. With respect to Adjusted EBITDA and Adjusted Earnings Per Share guidance, adjustments in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, but the impact of such adjustments could be significant. We also present Adjusted Consolidated Gross Profit, which is the aggregate of segment adjusted gross profit, because we believe the measure is useful in analyzing trends in our underlying, recurring gross margins. This press release includes several non-GAAP financial measures such as constant currency revenue, Adjusted Net Income (Loss), Adjusted EBIT, Adjusted EBITDA and Adjusted Earnings Per Share (“EPS”). We define Adjusted EBITDA as Adjusted EBIT plus depreciation and amortization. IR Contact Rackspace Technology Investor Relations IR@rackspace.com, PR Contact Natalie Silva Rackspace Technology Corporate Communications publicrelations@rackspace.com, RACKSPACE TECHNOLOGY, INC.CONSOLIDATED RESULTS OF OPERATIONS(Unaudited), RACKSPACE TECHNOLOGY, INC.CONSOLIDATED BALANCE SHEETS(Unaudited). These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. These awards would have been anti-dilutive to GAAP net loss per share, and are therefore not included in the calculation of GAAP EPS, but would be dilutive to Adjusted EPS and are therefore included in the share count for purposes of presenting this non-GAAP measure. Includes legal, professional, accounting and other advisory fees related to the acquisition of Onica in the fourth quarter of 2019 and the IPO in the third quarter of 2020, integration costs of acquired businesses, purchase accounting adjustments (including deferred revenue fair value discount), payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. Software. Adjusted Earnings Per Share was $0.19 in the third quarter of 2020, an increase of 36% as compared to Adjusted Earnings Per Share of $0.14 in the third quarter of 2019. Management uses Adjusted EPS to evaluate the performance of our business on a comparable basis from period to period, including by adjusting for the impact of the issuance of shares that would be dilutive to Adjusted EPS. In 2019, Rackspace reported revenue of $2.44 billion and a net loss of $102.3 million. Restructuring and transformation expenses. Â. All of our intangible assets are attributable to acquisitions, including the November 2016 merger. Includes consulting and advisory fees related to business transformation and optimization activities, payroll costs for employees that dedicate significant time to these projects, as well as associated severance, facility closure costs and lease termination expenses. Bright Skies GmbH. SAN ANTONIO, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology (Nasdaq: RXT) announces today the appointment of services industry veteran Amar Maletira as President and Chief Financial Officer, effective November 23, 2020. SAN ANTONIO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its third quarter ended September 30, 2020. These non-GAAP financial measures exclude the impact of certain costs, losses and gains that are required to be included in our profit and loss measures under GAAP. $110.553 million (2014) Total assets: $1.624 billion (2014) Total equity: $1.073 billion (2014) Owner: Apollo Global Management: Number of employees. When computing this long-term rate for 2019 and the 2020 interim period, we based it on an average of the 2019 and estimated 2020 tax rates, recomputed to remove the tax effect of non-GAAP pre-tax adjustments and non-recurring tax adjustments, resulting in a structural non-GAAP tax rate of 26%. Adjusted EBIT and Adjusted EBITDA are management’s principal metrics for measuring our underlying financial performance. Per share impacts of adjustments to net loss, Impact of shares dilutive after adjustments to net loss. Rackspace Technology cautions that these statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document, including among others, risk factors that are described in Rackspace Technology, Inc.’s Registration Statement on Form S-1 (File No. Rackspace Technology revenue from 2021 to 2020. Starr Million Baker. Rackspace US Fast Facts Note: Revenues for privately held companies are statistical evaluations. We have reconciled each of these non-GAAP measures to the applicable most comparable GAAP measure in the accompanying pages. Interested parties may access the conference call live over the phone by dialing 1-877-407-4018 (domestic) or 1-201-689-8471 (international) and requesting the Rackspace Technology Second Quarter 2020 Earnings Conference Call. This press release includes several non-GAAP financial measures such as constant currency revenue, Adjusted Consolidated Gross Profit, Adjusted Net Income (Loss), Adjusted EBIT, Adjusted EBITDA and Adjusted Earnings Per Share (“EPS”). For the three months ended 31 March 2020, it had revenue of $652.7 million against a net loss of $48.2 million. (a) Reflects the aggregate adjustments made to reconcile Adjusted Net Income (Loss) to our net loss, as noted in the above table, divided by the GAAP diluted number of shares outstanding for the relevant period, as adjusted for the Stock Split. Numbers in millions USD. To learn more about Rackspace and Onica while attending AWS re:Invent 2019 in Las Vegas, visit Rackspace at Booth #1637 in the Venetian and Onica at Booth #508 in the Quad at Aria. Compare RXT With Other Stocks Rackspace Technology Annual Revenue (Millions of US $) 2019 … Email Print Friendly Share. Rackspace (Nasdaq: RXT) reported its highest ever quarterly revenue of $681.7 million for the three months ending Sept. 30, up 13% from revenue of $602 million in third quarter 2019. Rackspace Technology has made statements in this press release and other reports, filings, and other public written and verbal announcements that are forward-looking and therefore subject to risks and uncertainties. As of June 30, 2020, we had cash and cash equivalents of $161 million with no balance outstanding on our Revolving Credit Facility. The San Antonio-based company said it had a loss of 54 cents per share. A live webcast of the call will be available on Rackspace Technology’s website at https://ir.rackspace.com/news-and-events/events-and-presentations. Includes legal, professional, accounting and other advisory fees related to the acquisition of Onica in the fourth quarter of 2019, integration costs of acquired businesses, purchase accounting adjustments (including deferred revenue fair value discount), payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. Rackspace Technology will hold a conference call today, November 10, 2020, at 4:00pm CT / 5:00pm ET to discuss its third quarter 2020 results. In the future we may incur expenses or charges such as those added back to calculate Adjusted Net Income (Loss), Adjusted EBIT or Adjusted EBITDA. DESCRIPTION. Further, Rackspace Technology has not reconciled Adjusted EBITDA or Adjusted Earnings Per Share guidance to the most directly comparable GAAP measure because it does not provide guidance on GAAP net income (loss) or the reconciling items between Adjusted EBITDA and GAAP net income (loss) as a result of the uncertainty regarding, and the potential variability of, certain of these items, such as share-based compensation expense. We define Adjusted EBIT as net income (loss), plus interest expense and income taxes, further adjusted to exclude the impact of non-cash charges for share-based compensation and cash charges related to the settlement of share-based awards in connection with the November 2016 merger, transaction-related costs and adjustments, restructuring and transformation charges, management fees, the amortization of acquired intangible assets and certain other non-operating, non-recurring or non-core gains and losses. On a constant currency basis, after giving effect to the acquisition of Onica as if it had occurred on January 1, 2019, Core Revenue increased 7% in the second quarter of 2020 as compared to the second quarter of 2019. We present Adjusted Net Income (Loss), Adjusted EBIT and Adjusted EBITDA because they are a basis upon which management assesses our performance and we believe they are useful to evaluating our financial performance. Acquisitions. Find out the revenue, expenses and profit or loss over the last fiscal year. (a) The effect of foreign currency is calculated by translating current period results using the average exchange rate from the prior comparative period. Rackspace Technology is a leading end-to-end multicloud technology services company. 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