Rackspace Technology, Inc.
For the period ended Dec 31, 2025. Filed Mar 6, 2026.
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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.
FY2025 · Filed Mar 6, 2026
RXT$2.68-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2023 | 2024 | 2025 |
| Cash Flows From Operating Activities | |||
| Net loss | $(837.8) | $(858.2) | $(225.8) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 369.7 | 295.4 | 298.3 |
| Reduction in carrying amount of operating right-of-use assets | 73.2 | 67.6 | 64.3 |
| Deferred income taxes | (41.9) | (35.0) | 23.7 |
| Share-based compensation expense | 65.4 | 63.4 | 45.1 |
| Impairment of goodwill | 708.8 | 714.9 | — |
| Impairment of assets, net | 52.2 | 20.0 | — |
| Gain on debt extinguishment, net of debt modification costs | (271.3) | (147.2) | — |
| Unrealized loss on derivative contracts | 15.5 | — | — |
| Gain on investments, net | (0.3) | (0.1) | (0.3) |
| Provision for bad debts and accrued customer credits | 9.0 | 19.5 | 6.1 |
| Amortization of debt issuance costs and debt discount and premium | 7.9 | 2.2 | 6.0 |
| Third party fees paid in connection with the March 2024 Refinancing Transactions | — | (31.7) | — |
| Non-cash fair value adjustments | (1.0) | (2.2) | (2.1) |
| Other operating activities | 0.4 | (6.5) | (2.0) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 275.1 | 20.5 | 27.6 |
| Prepaid expenses and other current assets | 24.6 | 10.5 | (2.8) |
| Accounts payable, accrued expenses, and other current liabilities | (44.2) | (22.2) | (26.4) |
| Deferred revenue | (5.8) | 2.4 | 10.4 |
| Operating lease liabilities | (65.6) | (82.8) | (68.8) |
| Other non-current assets and liabilities | 41.0 | 9.4 | (1.9) |
| Net cash provided by operating activities | 374.9 | 39.9 | 151.4 |
| Cash Flows From Investing Activities | |||
| Purchases of property, equipment and software | (96.9) | (111.1) | (60.8) |
| Proceeds from sale of headquarters | — | 16.9 | — |
| Other investing activities | 0.9 | 7.6 | 2.4 |
| Net cash used in investing activities | (96.0) | (86.6) | (58.4) |
| Cash Flows From Financing Activities | |||
| Proceeds from employee stock plans | 1.3 | 0.9 | 0.5 |
| Shares of common stock withheld for employee taxes | (1.0) | (4.3) | (2.0) |
| Proceeds from borrowings under long-term debt arrangements | 50.0 | 275.0 | 155.0 |
| Payments on long-term debt | (241.9) | (163.0) | (198.2) |
| Debt extinguishment costs | — | (22.1) | — |
| Payments on financing component of interest rate swap | (18.8) | (17.3) | (17.4) |
| Principal payments of finance lease liabilities | (79.7) | (56.9) | (56.6) |
| Principal payments of financing obligations | (22.7) | (15.3) | (15.9) |
| Net cash used in financing activities | (312.8) | (3.0) | (134.6) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 2.2 | (3.0) | 2.6 |
| Decrease in cash, cash equivalents, and restricted cash | (31.7) | (52.7) | (39.0) |
| Cash, cash equivalents, and restricted cash at beginning of period | 231.4 | 199.7 | 147.0 |
| Cash, cash equivalents, and restricted cash at end of period | $199.7 | $147.0 | $108.0 |
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| Supplemental Cash Flow Information | |||
|---|---|---|---|
| Cash payments for interest, net of amount capitalized | $213.9 | $103.6 | $82.8 |
| Cash payments for income taxes, net of refunds | $11.9 | $10.8 | $8.3 |
| Non-cash Investing and Financing Activities | |||
| Acquisition of property, equipment and software by finance leases | $67.7 | $40.8 | $50.6 |
| Acquisition of property, equipment and software by financing obligations | 25.0 | 4.4 | 13.7 |
| Increase (decrease) in property, equipment and software accrued in liabilities | (13.6) | (9.9) | 15.3 |
| Other non-cash activity | 5.3 | (10.0) | (1.0) |
| Non-cash purchases of property, equipment and software | $84.4 | $25.3 | $78.6 |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash to the total of such amounts shown on the Consolidated Statements of Cash Flows.
| Year Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2023 | 2024 | 2025 |
| Cash and cash equivalents | $196.8 | $144.0 | $105.8 |
| Restricted cash included in other non-current assets | 2.9 | 3.0 | 2.2 |
| Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $199.7 | $147.0 | $108.0 |
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