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Rackspace Technology, Inc. (RXT) stock

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NASDAQ: RXT Nasdaq Internet Services & Infrastructure Next results ~November 9, 2026

C Fundamentals grade

Rackspace Technology, Inc. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$2.1

Forward price-to-earnings vs peers

Base case. Range ~$1.7–$4.0. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Rackspace Technology, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 19 sales by directors and officers, last 12 monthsInsider trades
  • Funds128 adding, 67 cuttingOf 26 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rackspace Technology files

Where Rackspace Technology stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.70bn, up 0.3% on a year earlier, faster than -0.5% a quarter earlier. That puts it 20 of 23 for growth among the internet and data companies we cover. Free-cash-flow margin held at 1.5%. Operating margin widened to -3.3% from -9.9%. The diluted share count is up 7.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 5 financial-health checks. Our cash-flow model value is $-8.79 a share, against a share price of $2.75.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Rackspace Technology, Inc.'s trailing-twelve-month revenue grew 0.3% year on year, with a free-cash-flow margin of 1.5%. Where it stands out: stock pay as % of revenue of 1.5% ranks 5 of 32 internet services & infrastructure companies we cover. Where it lags: long-term debt as % of assets of 100.6% ranks 24 of 25 internet services & infrastructure companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 23.5% while net income grew 56.9%: a 80pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 6.6 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -3.3%: costs exceed revenue.
  • Share dilution. Diluted shares rose 7.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 286% and a beta of 3.2 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 100.6% ranks 24 of 25 internet services & infrastructure companies we cover (median 20.2%).
  • Below peers: gross margin. Gross margin of 17.9% ranks 15 of 16 internet services & infrastructure companies we cover (median 61.5%).
  • Heavily shorted. 21.6% of the shares available to trade are sold short (4.6 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
-$0.08 against an average estimate of -$0.09: beat by 11.2%
Revenue
$670m, up 0.6% on a year earlier
Share reaction
-11.2% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
total Revenue $2,450m to $2,550m (FY 2026); private Cloud Revenue $1,000m to $1,050m (FY 2026)
Next report
November 9, 2026; average EPS estimate -$0.08

Rackspace Technology's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-10.1%
  • 1 week-13.1%
  • 1 month-42.8%
  • This year+142.5%
  • 1 year+47.2%
  • 5 years-83.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.7B
Operating margin
-3.3%
Net margin
-5.9%
EPS (TTM, diluted)
$-0.65

Growth

Revenue growth
+0.3%
Change in growth rate
+0.8 pts
Share count change
+7.1%

Cash

Free cash flow (TTM)
$41M
FCF margin
1.5%
Stock pay % of revenue
1.5%

Earnings

Last results
August 10, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Leadership
  3. Results
  4. Guidance
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rackspace Technology, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Rackspace Technology, Inc.'s free cash flow after stock-based pay ( $118M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Rackspace Technology, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 12.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.75 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.1 ~$1.7–$4.0 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — 0 Does not apply: no positive value
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.1 ~$1.7–$4.0 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Rackspace Technology, Inc. with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$19.06$13.47$2.95$2.00$2.21$0.97$2.35
Market value$3.4bn$2.8bn$623m$431m$497m$232m$580m
+ Net debt (− = net cash)$3.3bn$3.1bn$3.1bn$2.7bn$2.6bn$2.6bn$2.7bn
Enterprise value$6.7bn$5.9bn$3.8bn$3.1bn$3.1bn$2.9bn$3.3bn
Multiples
Price / sales 1.3x0.9x0.2x0.1x0.2x0.1x0.2x
Price / earnings ———————
Price / free cash flow n/m10.7x3.7x1.5x—2.6x14.1x
EV / EBITDA —24.4x———56.6x47.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

30 /100

Weak moat

How hard Rackspace Technology's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -1.6% of total assets over 6 years.

  • Pricing power 4 / 20

    Gross margin has been a median 23.7%, moving by 7.5 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -3.3%; its worst year was -43.8%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 7 of 7 years, at a median 3.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 23.1% over five years; stock-based pay has been a median 2.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (35 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $574m and EPS of −$0.08 (range −$0.10 to −$0.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.27 −50% $2.5bn −7%
Next $0.14 +150% $2.6bn +5%

Next year's EPS estimate has moved −21.4% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +23.5% on 90 days ago. In the last 30 days, 0 analysts raised Rackspace Technology, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Rackspace Technology, Inc., last 90 days
−$0.40 −$0.20 $0.00 $0.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.22 Current fiscal year, 60 days ago: −$0.27 Current fiscal year, 30 days ago: −$0.27 Current fiscal year, 7 days ago: −$0.27 Current fiscal year, Now: −$0.27 −$0.27 Next fiscal year, 90 days ago: $0.17 Next fiscal year, 60 days ago: $0.14 Next fiscal year, 30 days ago: $0.14 Next fiscal year, 7 days ago: $0.14 Next fiscal year, Now: $0.14 $0.14

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.22$0.17
60 days ago −$0.27$0.14
30 days ago −$0.27$0.14
7 days ago −$0.27$0.14
Now −$0.27$0.14

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.09 −$0.08 +11.2%
Mar 2026 −$0.03 −$0.06 −86.5%
Dec 2025 −$0.03 −$0.01 +65.4%
Sept 2025 −$0.05 −$0.05 +1.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Total Revenue FY 2026 $2,450m to $2,550m
    “Total Revenue $2,450 - $2,550 million” source
  • Private Cloud Revenue FY 2026 $1,000m to $1,050m
    “Private Cloud Revenue $1,000 - $1,050 million” source
  • Public Cloud Revenue FY 2026 $1,450m to $1,500m
    “Public Cloud Revenue $1,450 - $1,500 million” source
  • Non-GAAP Operating Profit FY 2026 $125m to $135m Non-GAAP
    “Non-GAAP Operating Profit $125 - $135 million” source
  • Adjusted EBITDA FY 2026 $285m to $295m Non-GAAP
    “Adjusted EBITDA $285 - $295 million” source
  • Non-GAAP Tax Expense Rate FY 2026 about 26% Non-GAAP
    “Non-GAAP Tax Expense Rate 26%” source
Show 1 more item
  • Non-GAAP Weighted Average Shares FY 2026 250m to 260m Non-GAAP
    “Non-GAAP Weighted Average Shares (1) 250 - 260 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Rackspace Technology, Inc.'s revenue by -3.0% next year and +2.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-5.1%, weight 46%) , management guidance (-5.3%, weight 23%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

3 analysts, Nov 2026
Buy00%
Hold3100%
Sell00%

Monthly trend

  1. Nov 202633
  2. Oct 202633
  3. Sep 202633

Counts of recommendations published by analysts covering Rackspace Technology, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.6%
of tradable shares
Days to cover
4.57
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
82%
of shares
Held by insiders
2.9%
of shares
Employees
5,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +47.2%

$1.60 on October 31, 2025 to $2.35

ThenNowEffect
Revenue (last 12 months) $2.7bn $2.7bn +0.3%
P/S multiple 0.1x 0.2x +57.1%
Share count 230m 246m −6.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +67.0%

$1.41 on November 3, 2023 to $2.35

ThenNowEffect
Revenue (last 12 months) $3.1bn $2.7bn −12.3%
P/S multiple 0.1x 0.2x +119.9%
Share count 213m 246m −13.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RXT−29%−78%−32%+11%−56%+143%
Industry peers (median)+13%−81%+46%−17%−10%−30%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RXT42%17%50%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RXT−51%−82%−69%−37%−67%−69%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since August 5, 2020: 98% from April 9, 2021 to February 12, 2026. Getting back needed a 6274% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.41 – $7.53
From 52-week high
−68.7%
vs 50-day average
−30.3%
vs 200-day average
−26.8%
Volatility (1 year)
286%
Beta vs S&P 500
3.16

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±24.1%
After a week
5 up, 7 down
typical move ±38.1%
After a month
5 up, 7 down
typical move ±28.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −11.2% −0.3% −19.4% −33.9%
July 9, 2026 −18.8% +1.3% −36.0% −25.5%
May 7, 2026 +141.9% +0.5% +221.1% +98.7%
February 26, 2026 +44.4% −1.0% +76.3% −22.2%
November 6, 2025 −20.0% −1.0% −25.8% −32.9%
August 7, 2025 −0.8% +0.7% −0.8% +18.9%
May 8, 2025 −12.2% +0.6% −11.9% −11.2%
February 20, 2025 0.0% −2.1% −16.9% −35.5%
November 12, 2024 +8.6% −0.3% −15.1% −10.4%
August 8, 2024 +6.1% +2.8% +4.2% +7.1%
May 9, 2024 +5.9% +0.7% +15.6% +27.4%
April 2, 2024 +19.5% −0.5% +13.6% +12.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Rackspace Technology, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Rackspace Technology, Inc.
$2.6B $2.7B $2.8B $2.9B $3B $3.1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3B Revenue (TTM), FY23 Q4: $3B Revenue (TTM), FY24 Q1: $2.9B Revenue (TTM), FY24 Q2: $2.8B Revenue (TTM), FY24 Q3: $2.8B Revenue (TTM), FY24 Q4: $2.7B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $2.7B Revenue (TTM), FY25 Q3: $2.7B Revenue (TTM), FY25 Q4: $2.7B Revenue (TTM), FY26 Q1: $2.7B Revenue (TTM), FY26 Q2: $2.7B $2.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3B
FY23 Q4 $3B
FY24 Q1 $2.9B
FY24 Q2 $2.8B
FY24 Q3 $2.8B
FY24 Q4 $2.7B
FY25 Q1 $2.7B
FY25 Q2 $2.7B
FY25 Q3 $2.7B
FY25 Q4 $2.7B
FY26 Q1 $2.7B
FY26 Q2 $2.7B
Revenue growth, TTM YoY Rackspace Technology, Inc.
-10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -2.8% Revenue growth, TTM YoY, FY23 Q4: -5.3% Revenue growth, TTM YoY, FY24 Q1: -7.0% Revenue growth, TTM YoY, FY24 Q2: -8.2% Revenue growth, TTM YoY, FY24 Q3: -8.4% Revenue growth, TTM YoY, FY24 Q4: -7.4% Revenue growth, TTM YoY, FY25 Q1: -6.1% Revenue growth, TTM YoY, FY25 Q2: -4.8% Revenue growth, TTM YoY, FY25 Q3: -3.0% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: -0.5% Revenue growth, TTM YoY, FY26 Q2: 0.3% 0.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -2.8%
FY23 Q4 -5.3%
FY24 Q1 -7.0%
FY24 Q2 -8.2%
FY24 Q3 -8.4%
FY24 Q4 -7.4%
FY25 Q1 -6.1%
FY25 Q2 -4.8%
FY25 Q3 -3.0%
FY25 Q4 -1.9%
FY26 Q1 -0.5%
FY26 Q2 0.3%
Operating margin (TTM) Rackspace Technology, Inc.
-40% -30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -36.7% Operating margin (TTM), FY23 Q4: -30.4% Operating margin (TTM), FY24 Q1: -33.6% Operating margin (TTM), FY24 Q2: -34.0% Operating margin (TTM), FY24 Q3: -32.3% Operating margin (TTM), FY24 Q4: -33.2% Operating margin (TTM), FY25 Q1: -10.9% Operating margin (TTM), FY25 Q2: -9.9% Operating margin (TTM), FY25 Q3: -4.7% Operating margin (TTM), FY25 Q4: -3.7% Operating margin (TTM), FY26 Q1: -3.0% Operating margin (TTM), FY26 Q2: -3.3% -3.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -36.7%
FY23 Q4 -30.4%
FY24 Q1 -33.6%
FY24 Q2 -34.0%
FY24 Q3 -32.3%
FY24 Q4 -33.2%
FY25 Q1 -10.9%
FY25 Q2 -9.9%
FY25 Q3 -4.7%
FY25 Q4 -3.7%
FY26 Q1 -3.0%
FY26 Q2 -3.3%
FCF margin (TTM) Rackspace Technology, Inc.
-5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 8.3% FCF margin (TTM), FY23 Q4: 9.4% FCF margin (TTM), FY24 Q1: 6.0% FCF margin (TTM), FY24 Q2: 5.1% FCF margin (TTM), FY24 Q3: -2.4% FCF margin (TTM), FY24 Q4: -2.6% FCF margin (TTM), FY25 Q1: 1.9% FCF margin (TTM), FY25 Q2: 2.0% FCF margin (TTM), FY25 Q3: 2.6% FCF margin (TTM), FY25 Q4: 3.4% FCF margin (TTM), FY26 Q1: 2.8% FCF margin (TTM), FY26 Q2: 1.5% 1.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 8.3%
FY23 Q4 9.4%
FY24 Q1 6.0%
FY24 Q2 5.1%
FY24 Q3 -2.4%
FY24 Q4 -2.6%
FY25 Q1 1.9%
FY25 Q2 2.0%
FY25 Q3 2.6%
FY25 Q4 3.4%
FY26 Q1 2.8%
FY26 Q2 1.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2,453 2,438 2,707 3,010 3,122 2,957 2,737 2,686 2,702
Gross profit 1,007 1,011 984 937 857 629 533 506 484
EBITDA — — — 243 −458 −691 −768 51 68
Operating income −237 102 25 −3 −679 −899 −909 −101 −88
Net income −471 −102 −246 −218 −805 −838 −858 −226 −159
Diluted EPS −$2.85 −$0.62 −$1.37 −$1.05 −$3.81 −$3.89 −$3.82 −$0.95 −$0.65
Growth (year on year)
Revenue — −0.6% +11.0% +11.2% +3.7% −5.3% −7.4% −1.9% +0.3%
EBITDA — — — — −288.8% — — — —
Operating income — — −75.7% — — — — — —
Margins
Gross margin 41.1% 41.5% 36.4% 31.1% 27.4% 21.3% 19.5% 18.9% 17.9%
EBITDA margin — — — 8.1% −14.7% −23.4% −28.1% 1.9% 2.5%
Operating margin −9.7% 4.2% 0.9% −0.1% −21.7% −30.4% −33.2% −3.7% −3.3%
Net margin −19.2% −4.2% −9.1% −7.3% −25.8% −28.3% −31.4% −8.4% −5.9%
Free-cash-flow margin 5.5% 3.9% 0.0% 8.7% 5.3% 9.4% −2.6% 3.4% 1.5%
Cash flow
Cash from operations 430 293 117 371 247 375 40 151 104
Capital spending 294 198 117 108 80 97 111 61 63
Free cash flow 136 95 0 262 166 278 −71 91 41
Stock-based pay 20 30 75 75 70 65 63 45 40
Free cash flow after stock pay 116 65 −74 187 97 213 −135 46 1
Balance sheet
Cash 254 84 105 273 228 197 144 106 111
Total debt 0 3,945 3,411 3,383 3,360 2,893 2,786 2,746 2,787
Net debt (negative = net cash) −254 3,861 3,306 3,110 3,131 2,696 2,642 2,640 2,676
Diluted shares 165m 165m 180m 208m 211m 215m 225m 239m 246m
Returned to shareholders
Buybacks 0 2 0 0 31 0 0 — —
Total returned 0 2 0 0 31 0 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 5 checks passed · June 30, 2026
What it owns · $2.7bn
Short-term assets $556mLonger-term assets $2.2bn
What it owes, and who funded it · $4.0bn
Short-term liabilities $736mLonger-term liabilities $3.3bnShareholders' equity $-1.3bn
  • Short-term assets cover short-term liabilities $556m of assets due within a year against $736m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $556m short-term assets against $3.3bn of longer-dated liabilities.
  • More cash than debt $111m of cash against $2.8bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $104m of operating cash flow against $2.8bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$88m against $102m of interest.

From Rackspace Technology, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+7.1%
year over year
Sales & admin spending
21.2%
of revenue
Days sales outstanding
38 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated RXT NET VRSN AKAM GDDY TWLO Median
Revenue, last 12 months $2.7bn $2.5bn $1.7bn $4.3bn $5.2bn $5.8bn $242m
Revenue growth, last 12 months 0.3% 33.5% 6.5% 5.9% 6.4% 19.1% 8.3%
Revenue growth, 3-year average −4.3% 30.6% 5.3% 5.7% 7.3% 12.4% 7.6%
Revenue growth, latest quarter 0.6% 35.9% 5.7% 5.4% 6.0% 19.9% 5.5%
Gross margin 17.9% 72.6% 88.6% 57.5% — 48.6% 49.5%
Operating margin −3.3% −14.1% 67.6% 10.5% 25.7% 6.8% −56.0%
Operating margin, 3-year average −15.7% −11.9% 67.8% 13.5% 22.0% −0.2% −25.3%
Net margin −5.9% −8.2% 49.1% 9.5% 18.6% 21.8% −55.8%
Cash from operations / revenue 3.8% 25.2% 61.3% 33.5% 34.2% 20.3% −10.4%
Free-cash-flow margin 1.5% 12.5% 59.1% 22.1% 33.7% 18.3% −25.9%
Free-cash-flow margin, 3-year average 2.9% 10.9% 58.7% 25.1% 30.9% 16.0% −17.4%
Stock pay / revenue 1.5% 20.2% 4.4% 11.8% 5.6% 10.0% 11.9%
Change in share count 7.1% 2.0% −3.1% −1.2% 36.1% 0.6% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth 0.3% 10.1% 24 of 34
Change in growth rate Growth +0.8pp -0.6pp 13 of 34
Gross margin Profitability 17.9% 61.5% 15 of 16
Operating margin Profitability -3.3% -49.3% 11 of 33
Net margin Profitability -5.9% -47.1% 12 of 34
Free-cash-flow margin Cash generation 1.5% 16.2% 13 of 17
Stock pay as % of revenue Cash generation 1.5% 12.4% 5 of 32
Long-term debt as % of assets Balance sheet 100.6% 20.2% 24 of 25
Change in share count Balance sheet 7.1% 5.2% 15 of 26
Days sales outstanding Balance sheet 38 days 48 days 5 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $1.8B 66.3% ▼ 3.6%
Other Foreign Countries $539M 20.1% ▲ 27.9%
United Kingdom $365M 13.6% ▼ 22.0%

From Rackspace Technology, Inc.'s 10-K filed March 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.3B
Institutions reporting
184
Shares held vs prior quarter
▲ 18.1%
Positions opened / closed
69 / 21

Top buyers and sellers, Q2 2026: 128 institutions bought and 67 sold ; the biggest buyer was Voss Capital, LP (+7.6M shares) and the biggest seller Jane Street Group, LLC (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Apollo Management Holdings, L.P. $846M 129.6M 63.8% 0.0%
Blackrock, Inc. $51.4M 7.9M 3.9% ▲ 4.6%
Voss Capital, LP $49.6M 7.6M 3.7% New
AQR Capital Management LLC $33.5M 5.1M 2.5% ▲ 13.1%
Vanguard Capital Management LLC $29.3M 4.5M 2.2% ▼ 2.8%
Two Sigma Investments, LP $25M 3.8M 1.9% ▲ 8131.1%
Vanguard Portfolio Management LLC $24.3M 3.7M 1.8% ▲ 46.7%
Marathon Asset Management LP $23.7M 3.6M 1.8% New
Geode Capital Management, LLC $17.2M 2.6M 1.3% ▲ 7.5%
Renaissance Technologies LLC $15.9M 2.4M 1.2% ▲ 19.0%
Millennium Management LLC $15.3M 2.3M 1.2% ▲ 705.4%
Bw Gestao De Investimentos Ltda. $15.3M 2.3M 1.2% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rackspace Technology, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $4.8M 19 trades by 5 insiders · 96% under pre-set plans
Net ▼ $4.8M net selling
Insider Date Trade Shares Price Value
Teal-Guess Kellie Chief Human Resources Officer September 8, 2026 Sell pre-set plan 33,558 $3.13 $105,037
Kandiah Gajakarnan Vibushanan Chief Executive Officer September 4, 2026 Sell pre-set plan 498,728 $3.21 $1.6M
Kandiah Gajakarnan Vibushanan Chief Executive Officer September 2, 2026 Sell pre-set plan 8,258 $2.95 $24,361
Sinha Dharmendra Kumar EVP, President, Public Cloud September 2, 2026 Sell pre-set plan 107,002 $2.95 $315,656
Marino Mark A. Chief Financial Officer September 2, 2026 Sell pre-set plan 51,373 $2.95 $151,550
Scott Anthony Director August 14, 2026 Sell 48,780 $4.25 $207,554
Sinha Dharmendra Kumar EVP, President, Public Cloud June 4, 2026 Sell pre-set plan 48,099 $5.56 $267,430
Marino Mark A. Chief Financial Officer June 4, 2026 Sell pre-set plan 48,099 $5.56 $267,430
Teal-Guess Kellie Chief Human Resources Officer June 4, 2026 Sell pre-set plan 33,966 $5.56 $188,851
Teal-Guess Kellie Chief Human Resources Officer May 18, 2026 Sell pre-set plan 113,232 $5.12 $579,748
Marino Mark A. Chief Financial Officer March 18, 2026 Sell pre-set plan 14,058 $1.81 $25,445
Sinha Dharmendra Kumar EVP, President, Public Cloud March 18, 2026 Sell pre-set plan 188,123 $1.81 $340,503

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 10 trades and filings

No trades in Rackspace Technology, Inc. disclosed in the last 12 months; 10 earlier trades on record.

  • Marjorie Taylor Greene(R-GA 14):Sale (full), $1,001 - $15,000, traded December 16, 2021, filed December 21, 2021
  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded October 14, 2021, filed November 9, 2021
  • Susie Lee(D-NV 3):Purchase, $1,001 - $15,000, traded May 14, 2021, filed June 14, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • July 9, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Rackspace Technology, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rackspace Technology, Inc. in brief

What does Rackspace Technology, Inc. do?
Rackspace Technology, Inc. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.
What is Rackspace Technology, Inc.'s stock ticker?
Rackspace Technology, Inc. trades under the ticker RXT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rackspace Technology, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rackspace Technology, Inc. reported revenue of $2.7B, 0.3% higher than a year earlier, according to its SEC filings.
What is Rackspace Technology, Inc.'s free cash flow?
Rackspace Technology, Inc.'s free-cash-flow margin is 1.5% of revenue over the trailing twelve months, ranking 13 of the 17 internet services & infrastructure companies we cover.
Who are Rackspace Technology, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Apollo Management Holdings, L.P., Blackrock, Inc. and Voss Capital, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rackspace Technology, Inc.'s market cap?
On November 2, 2026, Rackspace Technology, Inc.'s market capitalisation was about $580M and net debt of $2.7B. Market figures come from third-party market data and may be delayed.
Who are Rackspace Technology, Inc.'s competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Rackspace Technology, Inc. are Cloudflare, Inc., Verisign Inc, Akamai Technologies, Godaddy Inc. and Twilio Inc. The side-by-side comparison below sets their revenue, margins and growth against Rackspace Technology, Inc.'s.
Are insiders buying or selling Rackspace Technology, Inc. stock?
Over the last 12 months, Rackspace Technology, Inc.'s directors and officers reported 0 open-market purchases and 19 sales on Form 4. The insider trading page charts every trade.
When is Rackspace Technology, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rackspace Technology, Inc. announces its own schedule.