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. (NASDAQ: RXT) is a Software – Infrastructure company that describes itself as an end-to-end hybrid cloud, multicloud, and AI solutions provider. The RXT news feed on Stock Titan aggregates company announcements, press releases, and third-party coverage that explain how Rackspace designs, builds, and operates cloud environments across major technology platforms.
News about Rackspace Technology often highlights developments in hybrid and multicloud services, AI-focused offerings, and partnerships with major cloud providers. Recent announcements have covered topics such as the launch of Rackspace AI launchpad, a managed service to help organizations evaluate, pilot, and deploy AI workloads, and the use of Rackspace AI Anywhere as a private cloud foundation for secure AI and machine learning capabilities. Other stories describe customer projects involving rapid migration of business-critical workloads to public cloud platforms and multicloud strategies that span providers like Microsoft Azure and Google Cloud.
Investors and technology professionals can also follow updates on certifications, awards, and industry recognitions. Rackspace Technology has reported achievements including VMware Sovereign Cloud certification for its UK Sovereign Services, an AWS Collaboration Partner of the Year award, and the AWS Automotive Competency, as well as leadership positions in the ISG Provider Lens™ Multi Public Cloud Services Report. Leadership changes, board updates, and financial results are typically announced through press releases and related SEC filings.
By monitoring this RXT news page, readers can review how Rackspace Technology communicates its progress in hybrid cloud, AI, data, and security services, along with examples of customer engagements in sectors such as automotive, retail, healthcare, financial services, and the public sector.
Rackspace Technology (NASDAQ: RXT) announced a collaboration with Blackline Safety Corp. to enhance software innovation and platform improvements. Blackline, a leader in gas detection and connected safety solutions, is leveraging Rackspace's expertise to upgrade its data streaming and processing infrastructure. This partnership aims to expedite the deployment of industrial contact tracing solutions while improving data integrity and client insights. The collaboration is anticipated to support Blackline's growth trajectory and address safety needs amid the ongoing pandemic.
Rackspace Technology has collaborated with Qwake Technologies to launch the C-THRU solution, a groundbreaking augmented reality device designed for firefighters. This cloud-native technology facilitates navigation and communication in low-visibility scenarios by leveraging IoT architecture. Qwake recently secured a government contract with the Department of Homeland Security (DHS) to commercialize this innovative platform. The C-THRU solution has been piloted by several fire departments, showcasing its potential to enhance safety and efficiency in firefighting operations.
Rackspace Technology (NASDAQ: RXT) will host a virtual event titled Predicting Your Customer Needs with Modern Data on April 6, 2021, at 10:00 am CT. The event features keynote speaker Jeremiah Owyang, a tech and innovation expert, discussing the significance of data modernization in adapting to new technologies and customer behavior trends. The session will include real-world examples and a panel discussion with experts from Google Cloud and Rackspace Technology. Registration is available through a provided link.
Rackspace Technology (NASDAQ: RXT) announced a collaboration with Century Engineering to enhance the SmartSWM™ stormwater management solution. The initiative leverages Internet of Things (IoT) technology and Amazon Web Services (AWS) to create a resilient stormwater infrastructure. Century Engineering sought Rackspace's expertise in cloud architectures and AWS services to refine their automated, real-time monitoring system. This partnership aims to position Century as a leader in environmental engineering while driving innovation in stormwater management.
Rackspace Technology (NASDAQ: RXT) has been chosen by ADCO Umweltdienste Holding GmbH to lead its cloud transformation journey. The five-year partnership will migrate ADCO's on-premise data centers to Amazon Web Services (AWS) and leverage VMware services, starting in Germany and rolling out globally. ADCO, known for mobile sanitary solutions, aims to improve its IT strategy for enhanced resiliency and sustainability. This collaboration is expected to not only modernize ADCO's technology but also bolster its operational processes, ensuring future growth.
Rackspace Technology (NASDAQ: RXT) announced that CEO Kevin Jones and CFO Amar Maletira will present at the Deutsche Bank Media, Internet and Telecom Conference on March 9, 2021, at 1:00 PM ET. They will also be available for investor meetings. Interested parties can access the live webcast of the event via the conference website. Slide materials for the presentation will be available on the morning of the conference on their Investor Relations website.
Rackspace Technology specializes in multicloud technology services, helping customers modernize applications and adopt innovative technologies.
Rackspace Technology (NASDAQ: RXT) has successfully completed an AI and ML initiative for Sentrics, enhancing voice control features in their Engage360 application. This upgrade is designed to support mobility-impaired seniors in assisted living facilities, allowing them to communicate and manage activities hands-free. Leveraging Amazon Lex, Rackspace's team expedited the integration, meeting an urgent six-week timeline. This initiative aims to improve seniors' quality of life during the COVID-19 pandemic while fostering community engagement.
Rackspace Technology (NASDAQ: RXT) has been awarded Cloudflare’s Worldwide MSP Partner of the Year for 2020, recognizing its robust growth and consistent joint customer engagements. This accolade reflects Rackspace's excellence in providing managed services, playing a crucial role in helping businesses secure and enhance their online presence. The award highlights the importance of a reliable Internet, especially during the challenges posed by 2020, showcasing Rackspace's commitment to innovative solutions in partnership with Cloudflare across the Americas, APAC, and EMEA regions.
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Rackspace Technology (RXT) reported fourth quarter 2020 revenue of $716 million, up 14% year-over-year, with bookings increasing 27% to $293 million. The full year revenue reached $2,707 million, an 11% increase, alongside a net loss of $(64) million in Q4, widening from $(47) million in Q4 2019. Adjusted EBITDA was $199 million in Q4, marking a 6% rise. RXT’s non-GAAP EPS for Q4 was $0.26, a 24% improvement. For 2021, guidance suggests revenue of $2.9-$3.1 billion.