Filing Flows › Rackspace Technology (RXT) › Q4 2024
Rackspace Technology (RXT) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 21, 2025
Rackspace Technology (RXT) reported revenue of $686M for the fourth quarter 2024 (Q4 2024), -5% from a year earlier and +1% from the quarter before. Operating margin was -4.2%, net loss $56.0M (8.2% of revenue).
Rackspace Technology, Q4 2024: revenue $686M (-5% year over year), operating margin -4.2%, net loss $56.0M, operating cash flow $54.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $686M | +1% | -5% |
| Operating profit | −$28.8M | — | — |
| Net earnings | −$56.0M | — | — |
| Operating cash flow | $54.3M | +5% | -25% |
| Free cash flow | $34.4M | +26% | -10% |
What changed
Revenue was $685.6M in Q4 2024, down 5% year over year and up 1% from the previous quarter.
Gross margin was 19.2%, down 2.2 points from a year earlier. Operating costs exceeded revenue by $28.8M, an operating margin of -4.2%. Operating expenses fell 5% while revenue fell 5%. The quarter ended with a net loss of $56.0M, narrower than the previous quarter's $186.6M loss.
Operating cash flow was $54.3M (down 25% year over year). Non-cash charges added back $73.4M of depreciation and amortization and $15.6M of share-based compensation. Working capital and other items added $21.3M. Capital expenditures of $19.9M left free cash flow of $34.4M.
Questions
What was Rackspace Technology's revenue in the fourth quarter 2024?
Rackspace Technology (RXT) reported revenue of $686M for the fourth quarter 2024 (Q4 2024), -5% from a year earlier and +1% from the quarter before.
Was Rackspace Technology profitable in the fourth quarter 2024?
Operating loss was $28.8M (-4.2% of revenue) and net loss $56.0M.