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Dec 31, 2022
Rackspace Q4 2022 Earnings Report
Delivered fourth quarter revenue and profit above guidance and reported solid cash flow.
Key Takeaways
Rackspace Technology's Q4 2022 revenue reached $787 million, a 1% increase year-over-year, driven by new customer acquisitions and growing customer spend in Multicloud Services and Apps & Cross Platform segments. The company reported a net loss of $(214) million, and a Non-GAAP Earnings Per Share of $0.06.
Fourth Quarter Revenue of $787 million, up 1% Year-over-Year
Fourth Quarter Core Revenue of $752 million, up 2% Year-over-Year
Fourth Quarter Cash Flow From Operating Activities of $40 million
Completed operating model realignment, executing as two business units: Public Cloud and Private Cloud
Rackspace
Rackspace
Forward Guidance
Rackspace Technology is providing Q1 2023 guidance with revenue between $752 - $762 million, Core Revenue between $719 - $729 million, Non-GAAP Operating Profit between $47 - $53 million, and Non-GAAP Loss Per Share between ($0.05) - ($0.01).