Rackspace Technology Inc

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 2024

RXT$2.68-1.5%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Comprehensive Loss

	Year Ended December 31,
(In millions, except per share data)	2021	2022	2023
Revenue	$3,009.5	$3,122.3	$2,957.1
Cost of revenue	(2,072.7)	(2,265.4)	(2,328.3)
Gross profit	936.8	856.9	628.8
Selling, general and administrative expenses	(906.8)	(855.3)	(767.2)
Impairment of goodwill	(52.4)	(534.5)	(708.8)
Impairment of assets, net	—	(146.1)	(52.2)
Gain on sale of land	19.9	—	—
Loss from operations	(2.5)	(679.0)	(899.4)
Other income (expense):
Interest expense	(205.1)	(208.5)	(221.6)
Gain (loss) on investments, net	(3.0)	(0.2)	0.3
Debt modification costs and gain (loss) on debt extinguishment	(37.5)	—	271.3
Other expense, net	(1.0)	(10.0)	(5.0)
Total other income (expense)	(246.6)	(218.7)	45.0
Loss before income taxes	(249.1)	(897.7)	(854.4)
Benefit for income taxes	30.8	92.9	16.6
Net loss	$(218.3)	$(804.8)	$(837.8)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	$(3.6)	$(27.2)	$8.0
Unrealized gain on derivative contracts	11.5	86.9	10.8
Amount reclassified from accumulated other comprehensive income (loss) to earnings	17.6	4.8	(29.9)
Other comprehensive income (loss)	25.5	64.5	(11.1)
Comprehensive loss	$(192.8)	$(740.3)	$(848.9)
Net loss per share:
Basic and diluted	$(1.05)	$(3.81)	$(3.89)
Weighted average number of shares outstanding:
Basic and diluted	208.0	211.2	215.3

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.