Revenue of $685 million in the Second Quarter, down 8% Year-over-Year Private Cloud Revenue was $260 million, down 17% Year-over-Year Public Cloud Revenue was $425 million, down 2% Year-over-Year Second Quarter 2024 Cash Flow From Operating Activities was $24 million; Cash Flow From Operating Activities was $273 million on a Trailing-Twelve-Month Basis Q3 2024 Guidance Total Revenue $668 - $680 million Private Cloud Revenue $255 - $262 million Public Cloud Revenue $414 - $419 million Non-GAAP Operating Prof ...

Interested parties may access the conference call as follows: USA & Canada - Toll-Free (800) 715-9871 International - Toll (646) 307-1963 To listen to the live webcast or access the replay following the webcast, please visit our IR website at the following link: https://edge.media-server.com/mmc/p/zjyvhdh3/ SAN ANTONIO, July 22, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT)— the leading end-to-end, hybrid multicloud, and AI solutions company, today announced that it will release its second qua ...

Core Viewpoint - Rackspace Technology will release its second quarter 2024 financial results on August 8, 2024, after market close, with a conference call scheduled for the same day to discuss the results [1]. Company Overview - Rackspace Technology is a leading end-to-end hybrid, multicloud, and AI technology services company [2]. - The company designs, builds, and operates cloud environments for customers across all major technology platforms, regardless of technology stack or deployment model [2]. - Rackspace partners with customers at every stage of their cloud journey, helping them modernize applications, build new products, and adopt innovative technologies [2].

Company Overview - Basware, founded in 1985, specializes in accounts payable (AP) automation solutions and processes over 220 million electronic invoices annually for major brands like DHL, Clarins, and Mercedes-Benz [1] - The company focuses on enhancing efficiency and accuracy in AP workflows, helping businesses optimize processes and improve financial visibility [1] AI Integration and Innovation - Basware has partnered with Rackspace Technology to leverage AI for enhancing its Extract, Transform, Load (ETL) coding process, significantly improving the speed of innovation for its customers [6][9] - The collaboration involved training AI language models using Amazon Bedrock and AWS, which improved the AI's accuracy in generating ETL code from 60% to 90% [2][6] - The AI model was fine-tuned to understand Basware's proprietary language, AnyERP, allowing consultants to generate code snippets through natural language queries [8] Customer Onboarding Optimization - As part of its growth strategy, Basware prioritized optimizing the customer onboarding process and utilized AI to enhance this aspect [7] - The Foundry for AI by Rackspace (FAIR) provided the necessary expertise for the secure and responsible adoption of generative AI in this context [7][9] Industry Impact - The collaboration between Basware and Rackspace Technology demonstrates the potential of generative AI to address complex, industry-specific challenges and accelerate business innovation [9]

LONDON, July 16, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) – the leading end-to-end, hybrid multicloud, and AI solutions company, today announced that Basware, a premier provider of accounts payable (AP) automation solutions, has successfully leveraged AI to enhance its Extract, Transform, Load (ETL) coding process. Basware partnered with Rackspace Technology to experiment with training codegenerating language models using Amazon Bedrock and Amazon Web Services (AWS). This enabled Basware ...

Core Insights - Rackspace Technology has been recognized as a Major Player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment, highlighting its strong position in the cloud professional services market [1][3]. Company Overview - Rackspace Technology is a leading provider of end-to-end, hybrid, multicloud, and AI solutions, capable of designing, building, and operating cloud environments across all major technology platforms [5]. - The company has over 15 years of experience in managing clients' cloud operations, which has allowed it to develop significant cloud professional service capabilities [3]. Market Assessment - The IDC MarketScape evaluated various cloud professional services providers, creating a framework for comparing their product and service offerings, capabilities, and strategies [2][4]. - Rackspace's Elastic Engineering capabilities are noted as particularly beneficial for clients navigating migration and modernization efforts, with a focus on achieving desired business outcomes [3].

SAN ANTONIO, June 25, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT), a leading end-to-end hybrid, multicloud, and AI technology services company, today announced a strategic partnership with Mendix, a Siemens business and global leader in modern enterprise application development. Under the agreement, Rackspace will add Mendix's market-leading low-code platform to its Rapid Application Development (RAD) offering. Through this partnership, Rackspace Technology will deploy managed service suppor ...

In 2023, Rackspace Technology launched several new offerings that led to being recognized in the Frost Radar report, including: Media Contact: Natalie Silva, publicrelations@rackspace.com SAN ANTONIO, June 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ:RXT) – the leading end-to-end, hybrid multicloud, and AI solutions company, today announced Rackspace is named a Leader in the Frost Radar for Healthcare Enterprise Cloud Managed Service Provider, 2024. Frost & Sullivan screened over 150 managed c ...

SAN ANTONIO, June 04, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), the leading end-to-end, hybrid multicloud, and AI solutions company, today announced it has aligned Sharestates for future growth goals and enhanced infrastructure by migrating to Amazon Web Services (AWS) for its costeffectiveness, industry adoption, and redundancy capabilities. The infrastructure transition improved customer experience, optimized operations, improved scalability, and provided the company with the latest cl ...

SAN ANTONIO, June 04, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), the leading end-to-end, hybrid multicloud, and AI solutions company, today announced it has aligned Sharestates for future growth goals and enhanced infrastructure by migrating to Amazon Web Services (AWS) for its costeffectiveness, industry adoption, and redundancy capabilities. The infrastructure transition improved customer experience, optimized operations, improved scalability, and provided the company with the latest cl ...