rackspace technology revenue 2019

Includes legal, professional, accounting and other advisory fees related to the acquisition of Onica in the fourth quarter of 2019 and the IPO in the third quarter of 2020, integration costs of acquired businesses, purchase accounting adjustments (including deferred revenue fair value discount), payroll costs for employees that dedicate significant time to supporting these projects and exploratory acquisition and divestiture costs and expenses related to financing activities. We assessed these activities and determined that they did not qualify under the scope of ASC 420 (Exit or Disposal costs). Â, Rackspace Technology Reports Third Quarter 2020 Results, Rackspace Technology: Multicloud Solution Experts, Consolidated revenue growth, Year-over-Year in constant currency, Core Revenue growth, Year-over-Year in constant currency, (In millions, except % and per share data), Selling, general and administrative expenses. This press release includes several non-GAAP financial measures such as constant currency revenue, Adjusted Net Income (Loss), Adjusted EBIT, Adjusted EBITDA and Adjusted Earnings Per Share (“EPS”). Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. Revenue was $657 million in the second quarter of 2020, an increase of 9% as compared to revenue of $602 million in the second quarter of 2019. Rackspace Technology Chief Executive Officer Kevin Jones commented, “We are proud and very excited to report our second quarter results following our IPO earlier this month. The … Rackspace Technology Investor Relations Fiscal year is January-December. Interested parties may access the conference call live over the phone by dialing 1-877-407-4018 (domestic) or 1-201-689-8471 (international) and requesting the Rackspace Technology Second Quarter 2020 Earnings Conference Call. Represents historical management fees pursuant to management consulting agreements. 6,600: Website: www.rackspace.com: Rackspace Technology, Inc. is an … In the future we may incur expenses or charges such as those added back to calculate Adjusted Net Income (Loss), Adjusted EBIT or Adjusted EBITDA. VMware . Rackspace US Fast Facts Note: Revenues for privately held companies are statistical evaluations. The quarter was highlighted by accelerating revenue growth driven by our ramping sales bookings growth over the past year. Adjusted EBITDA, along with other quantitative and qualitative information, is also the principal financial measure used by management and our board of directors in determining performance-based compensation for our management and key employees. We also present Adjusted Consolidated Gross Profit, which is the aggregate of segment adjusted gross profit, because we believe the measure is useful in analyzing trends in our underlying, recurring gross margins. Bookings were $288 million in the second quarter of 2020, an increase of 107% as compared to Bookings of $139 million in the second quarter of 2019. We present Adjusted Net Income (Loss), Adjusted EBIT and Adjusted EBITDA because they are a basis upon which management assesses our performance and we believe they are useful to evaluating our financial performance. Other companies, including our peer companies, may calculate similarly-titled measures in a different manner from us, and therefore, our non-GAAP measures may not be comparable to similarly-tiled measures of other companies. Joe Crivelli Per share impacts of adjustments to net loss, Impact of shares dilutive after adjustments to net loss. 2019: 2020: Revenue $ 601.7 $ 681.7 $ ... Rackspace Technology was formed on July 21, 2016 but had no assets, liabilities or operating results until November 3, 2016 (the “Closing Date”) when Rackspace Hosting, Inc. (now named Rackspace Technology Global, Inc., or “Rackspace Technology Global”), a global provider of modern information technology … We also believe this is an important metric to help investors evaluate our performance in comparison to prior periods. (a) The effect of foreign currency is calculated by translating current period results using the average exchange rate from the prior comparative period. Includes gains on our repurchases of 8.625% Senior Notes in 2019. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. These non-GAAP measures are not intended to imply that we would have generated higher income or avoided net losses if the November 2016 merger and the subsequent transactions and initiatives had not occurred. Includes gains and losses on our repurchases of 8.625% Senior Notes. Revenue was $657 million in the second quarter of 2020, an increase of 9% as compared to revenue of $602 million in the second quarter of 2019. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, as described in the accompanying pages, these measures are not a substitute for, or superior to, GAAP financial measures or disclosures. According to its S-1 filing, Rackspace brought in $2.44 billion in revenue in 2019, but recorded a net loss of $102.3 million. We define Adjusted Consolidated Gross Profit as our consolidated gross profit, adjusted to exclude the impact of share-based compensation expense and other non-recurring or unusual compensation items, purchase accounting-related effects, and certain business transformation-related costs. These non-GAAP financial measures exclude the impact of certain costs, losses and gains that are required to be included in our profit and loss measures under GAAP. These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. We define Adjusted EPS as Adjusted Net Income (Loss) divided by our GAAP average number of shares outstanding for the period on a diluted basis, after giving effect to the twelve-for-one stock split that was approved and effected on July 20, 2020 (the “Stock Split”), and further adjusted for the average number of shares associated with securities which are anti-dilutive to GAAP earnings per share but dilutive to Adjusted EPS. Annual Adjusted EBITDA: $742.8 million in 2019 compared to $815.8 million in … Our presentation of Adjusted Net Income (Loss), Adjusted EBIT and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these items. View 4,000+ financial data types. Rackspace (Nasdaq: RXT) reported its highest ever quarterly revenue of $681.7 million for the three months ending Sept. 30, up 13% from revenue of $602 million in third quarter 2019. Adjustment for the impact of purchase accounting from the November 2016 merger on revenue and expenses. Includes expense related to the cash settlement of unvested equity awards that were outstanding at the consummation of the November 2016 merger (amounting to $3 million for the nine months ended September 30, 2019 and zero for all other periods presented), retention bonuses, mainly relating to restructuring and integration projects, and, beginning in the second quarter of 2019, senior executive signing bonuses and relocation costs. Get the detailed quarterly/annual income statement for Rackspace Technology, Inc. (RXT). We will re-evaluate our long-term non-GAAP tax rate as appropriate. Core Quarterly Net Revenue Retention Rate. Rackspace Technology is a leading end-to-end multicloud technology services company. Revenue from our Core Segments (“Core Revenue”), comprised of Multicloud Services and Apps & Cross Platform, increased 18% in the third quarter of 2020 as compared to the third quarter of 2019. SAN ANTONIO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its third quarter ended September 30, 2020. Revenue was $682 million in the third quarter of 2020, an increase of 13% as compared to revenue of $602 million in the third quarter of 2019. We have a proven record of advising customers based on their business challenges, designing solutions that scale, building and managing those … We assessed these activities and determined that they did not qualify under the scope of ASC 420 (Exit or Disposal costs). This metric excludes the company's treasury shares. All of our intangible assets are attributable to acquisitions, including the November 2016 merger. Reflects mainly changes in the fair value of foreign currency derivatives. Rackspace US's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. As of September 30, 2020, we had cash and cash equivalents of $253 million with no balance outstanding on our Revolving Credit Facility. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. This press release includes several non-GAAP financial measures such as constant currency revenue, Adjusted Consolidated Gross Profit, Adjusted Net Income (Loss), Adjusted EBIT, Adjusted EBITDA and Adjusted Earnings Per Share (“EPS”). INK Communications Co. starr@ink … Rackspace Technology Chief Executive Officer Kevin Jones commented, “The third quarter represented continued strong execution and performance for Rackspace Technology as we continue to capitalize on the $400 billion multicloud market opportunity. Investors are cautioned against using these measures to the exclusion of our results in accordance with GAAP. Adjustment for the impact of purchase accounting from the November 2016 merger on expenses. LONDON – Rackspace® today announced the completion of its acquisition of Onica, an Amazon Web Services (AWS) Partner Network (APN) Premier Consulting Partner and AWS Managed Service Provider. Earnings, adjusted for non-recurring costs, came to 19 cents per share. Shares outstanding can be defined as the number of shares held by shareholders (including insiders) assuming conversion of all convertible debt, securities, warrants and options. $110.553 million (2014) Total assets: $1.624 billion (2014) Total equity: $1.073 billion (2014) Owner: Apollo Global Management: Number of employees. AMOUNT. ACQUISITION DATE. In the future we may incur expenses or charges such as those added back to calculate Adjusted Net Income (Loss), Adjusted EBIT or Adjusted EBITDA. We define Adjusted EBITDA as Adjusted EBIT plus depreciation and amortization. Capital expenditures were $51 million in the second quarter of 2020, compared to $41 million in the second quarter of 2019. We also believe this is an important metric to help investors evaluate our performance in comparison to prior periods. Bookings were $315 million in the third quarter of 2020, an increase of 64% as compared to Bookings of $192 million in the third quarter of 2019. 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