Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.
Rackspace Technology, Inc. (RXT) delivers cutting-edge managed cloud and IT solutions, empowering businesses to navigate complex digital transformations. This page provides real-time access to official announcements and strategic developments from the company.
Investors and industry professionals will find curated updates on RXT's operational milestones, including cloud infrastructure innovations, strategic partnerships, and financial performance. Track announcements about AI-driven service expansions, security enhancements, and open-source initiatives that shape the company's market leadership.
Content spans earnings disclosures, technology deployments, executive insights, and customer success stories. All materials are sourced directly from RXT to ensure accuracy and timeliness.
Bookmark this page for streamlined monitoring of Rackspace Technology's evolving role in hybrid cloud ecosystem optimization and enterprise IT modernization.
Rackspace Technology (RXT) has partnered with American Logistics to develop a cloud-native AWS environment for non-emergency medical transportation (NEMT). The new platform replaces American Logistics' legacy systems with a modern, scalable solution designed to handle complex healthcare transportation requirements.
The implementation features an event-driven microservices model deployed across six domains in Amazon Elastic Kubernetes Service containers, utilizing Amazon DynamoDB for operational data and Amazon SNS for event handling. The solution includes automated workflows and Infrastructure as Code through Terraform, enabling streamlined cloud infrastructure management.
The modernized platform has enhanced American Logistics' operational efficiency by automatically processing business rules and eligibility verifications while improving issue resolution and member experiences. The system leverages comprehensive trip histories and streamlined workflows to better serve Medicare and Medicaid beneficiaries requiring transportation services.
Rackspace Technology (NASDAQ: RXT) has signed a Memorandum of Understanding (MOU) with Dubai Health to explore establishing a Healthcare Digital Hub. The initiative will utilize AI and cloud technologies to optimize operational efficiency and provide tailored solutions for Dubai Health and its partners.
The partnership aims to enhance healthcare delivery and improve patient outcomes through digital innovation. According to Atif Al-Braiki, Chief Digital and AI Officer of Dubai Health, the Digital Hub will enable further optimization of their operations. CEO Amar Maletira highlighted this partnership as a significant step for Rackspace, aligning with a respected healthcare institution and marking a pivotal moment in the company's Middle East and Africa (MEA) growth strategy.
Rackspace Technology (NASDAQ: RXT) has announced it will release its fourth quarter 2024 financial results after market close on Thursday, February 20, 2025. The company will host a conference call on the same day at 5:00 PM ET, featuring CEO Amar Maletira and CFO Mark Marino, who will discuss the company's financial performance.
Interested parties can access the conference call through a live webcast available on Rackspace's IR website. Additionally, participants can pre-register to obtain a dial-in number and PIN for direct call access.
Rackspace Technology (NASDAQ: RXT) announced significant board and executive changes while reaffirming its Q4 2024 financial guidance. Jeffrey Benjamin has been appointed as Independent Chairman, replacing David Sambur, while Vikram Mahidhar, an AI and data expert from Apollo Global Management, joins the board replacing Susan Arthur.
The company also announced that Brian Lillie, President of Private Cloud, will be departing, with CEO Amar Maletira serving as Interim Leader for the Private Cloud business until a successor is found. Lillie will remain in an advisory capacity until April 5, 2025.
The company reported strong performance with record-breaking quarterly sales bookings in Q4 2024, achieving high double-digit growth both year-over-year and sequentially, marking the highest bookings since the creation of their two business units in early 2023.
Rackspace Technology (NASDAQ: RXT) has released its '2025 State of Cloud Report', revealing significant shifts in cloud strategy among IT leaders. The survey of 1,400+ IT decision-makers shows that over 90% plan major cloud strategy changes in the next two years, with 48% prioritizing hybrid cloud deployment.
Key findings include that 69% of organizations have considered repatriating workloads from public to private clouds, citing security, compliance, and cost savings. Only 16% of respondents have fully integrated cloud adoption into their business strategy. The survey also highlights that 84% of respondents are integrating AI with their cloud strategies, primarily to enhance operational efficiency (49%) and improve data analytics (45%).
Major challenges include talent shortages (40%) and insufficient budgets (37%). Future priorities include Cloud Enabled 5G services (50%), Cloud Native AI/ML Services (47%), and Cloud Based Robotics (40%).
Rackspace Technology (Nasdaq: RXT) announced that CEO Amar Maletira and CFO Mark Marino will participate in a fireside chat at the UBS Global Technology and AI Conference on December 4, 2024, from 10:55 AM to 11:25 AM MT. The session will be available via live webcast, with a replay accessible through Rackspace's investor relations website.
Rackspace Technology (NASDAQ: RXT) has launched Adaptive Cloud Manager, a proprietary solution built on Microsoft Azure Arc technology. This new offering creates a centralized dashboard for managing hybrid cloud environments, improving observability, licensing efficiency, and security monitoring across private and public cloud workloads. The solution streamlines customer onboarding to hybrid architectures with Microsoft Azure through automated services, helping optimize datacenter footprints and Operating Expenses (OpEx) by facilitating workload migration to Azure.
Rackspace Technology has successfully deployed one of the largest Epic Electronic Health Record (EHR) systems for AdventHealth, covering 53 hospitals across nine states. The implementation scales to over 38,000 concurrent users, making Rackspace the largest third-party Epic hosting provider globally. The deployment includes SLA-backed managed services, a predictable cost model, and cloud adjacency for third-party applications. The migration was completed in under 2 hours, with AdventHealth reporting notable performance improvements since going live. The system serves over 8 million patients annually and includes hosting and management of nine additional strategic applications in AdventHealth's IT portfolio.
Rackspace Technology reported Q3 2024 results with revenue of $676 million, down 8% year-over-year. Private Cloud revenue decreased 14% to $258 million, while Public Cloud revenue fell 3% to $418 million. The company posted a net loss of $187 million, or $(0.82) per diluted share, improving from a net loss of $227 million in Q3 2023. Non-GAAP Operating Profit was $34 million, down 25% year-over-year. The company ended the quarter with $157 million in cash and provided Q4 2024 guidance projecting revenue between $668-$680 million.
Rackspace Technology (NASDAQ: RXT) has joined Amazon Web Services' (AWS) new Generative AI Partner Innovation Alliance. This collaboration aims to expand the AWS Generative AI Innovation Center (GenAIIC), a program launched in June 2023 that helps customers implement generative AI solutions. The GenAIIC has already supported thousands of customers, with over 50% of proof-of-concept solutions now in production. Through this alliance, Rackspace will utilize GenAIIC's methodology to help global customers access resources for proof-of-concept and production implementations, leveraging their Foundry for AI by Rackspace (FAIR™) platform to accelerate responsible AI adoption.
FAQ
What is the current stock price of Rackspace Technology (RXT)?
What is the market cap of Rackspace Technology (RXT)?
