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Dec 31, 2021
Rackspace Q4 2021 Earnings Report
Announced Q4 and Full Year 2021 results with record quarterly new sales bookings.
Key Takeaways
Rackspace Technology reported a strong fourth quarter with revenue of $777 million, up 9% year-over-year, and record bookings of $329 million, an increase of 12% year-over-year. The company's Non-GAAP Earnings Per Share was $0.25, down 4% year-over-year. They met or exceeded all of their financial targets while driving strong cash flow from operations.
Fourth Quarter Revenue of $777 million, up 9% Year-over-Year.
Fourth Quarter Core Revenue of $734 million, up 11% Year-over-Year.
Record Fourth Quarter Bookings of $329 million, an increase of 12% Year-over-Year.
Fourth Quarter Non-GAAP Earnings Per Share of $0.25, down 4% Year-over-Year.
Rackspace
Rackspace
Forward Guidance
Rackspace Technology is providing guidance for Q1 2022.
Positive Outlook
- Revenue $768 - $778 million
- Core Revenue $730 - $738 million
- Non-GAAP Operating Profit $108 - $112 million
- Non-GAAP Earnings Per Share $0.20 - $0.22
- Non-GAAP Other Income (Expense) ($51) – ($52) million
Challenges Ahead
- Non-GAAP Tax Expense Rate 26 %
- Non-GAAP Weighted Average Shares 214 – 216 million
- Non-GAAP Other Income (Expense) is only expected to include interest expense.
- Rackspace Technology has not reconciled Non-GAAP Operating Profit, Non-GAAP Earnings Per Share, Non-GAAP Other Income (Expense) or Non-GAAP Tax Expense Rate guidance to the most directly comparable GAAP measure because it does not provide guidance on GAAP net income (loss) or the reconciling items between these Non-GAAP measures 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.
- Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort.