Rackspace Technology, Inc. - RXT STOCK NEWS

Rackspace Technology (NASDAQ: RXT) announced that Holly Windham, the Executive Vice President, Chief Legal and People Officer, has received the 2021 Women, Influence and Power in Law (WIPL) and Texas Diversity Council’s (TXDC) Top General Counsel awards. Windham is recognized for her leadership during crises and her commitment to promoting diversity in the legal and tech sectors. She will be honored at upcoming events, including the Women, Influence & Power in Law Conference on Oct. 7 and the Legal Diversity Summit on Sept. 28. Windham has been with Rackspace since 2017 and plays a key role in its Executive Leadership Team.

Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering for Security, a service designed to enhance cybersecurity operations for organizations. This offering provides customers access to a dedicated team of security experts who work alongside internal teams to tackle complex security and compliance challenges. Key features include personalized security pods, compliance management, threat and vulnerability management, and advanced monitoring services. This initiative positions Rackspace as a unique player in providing cloud-aligned security expertise.

Rackspace Technology (RXT) reported a record revenue of $744 million for Q2 2021, marking a 13% increase year-over-year. Core revenue grew 17% to $698 million. However, the company recorded a net loss of $(37) million or $(0.18) per diluted share, compared to $(33) million in Q2 2020. Non-GAAP EPS increased 14% to $0.24. Operating cash flow was strong at $106 million. Guidance for Q3 2021 anticipates revenue between $750 - $760 million.

Rackspace Technology (NASDAQ: RXT) has partnered with Arthrex to enhance the post-surgery experience through a digital communications portal built on Amazon Web Services (AWS). This HIPAA-compliant solution features customizable templates for surgeons and efficient patient data sharing. Significant benefits include a 68% reduction in patient calls, allowing healthcare providers to conserve resources. The platform also ensures secure management of private information, with encryption both in transit and at rest. The collaboration underscores Rackspace's commitment to improving healthcare delivery via cloud technology.

Rackspace Technology (RXT) has partnered with iPromote to migrate their infrastructure to Linux on AWS, achieving a 30% reduction in operational costs. This strategic move aims to modernize iPromote's infrastructure, reducing resource consumption and eliminating licensing fees. The project was partially funded by AWS, with Rackspace overseeing both the discovery and implementation phases. iPromote's COO noted that the collaboration enhanced their team’s knowledge and efficiency, presenting a strong opportunity for future innovation and stability.

Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG) in its 2Q 2021 Global ISG Index™. This distinction highlights Rackspace's performance in the Breakthrough 15 category, which ranks providers based on annual contract value won in the last year across various global regions. Rackspace's VP, Lisa McLin, emphasized the company's commitment to optimizing multicloud journeys and noted progress toward becoming the leading pure-play multicloud services provider.