← Rackspace Technology, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | — | ($470.6m) | ($102.3m) | ($245.8m) | ($218.3m) | ($804.8m) | ($837.8m) | ($858.2m) | ($225.8m) | — | |
| Net income (loss) | ($31.2m) |
($45.4m)
-45.42%
|
($25.8m)
+43.18%
|
($20.1m)
+21.95%
|
($25.9m)
-28.55%
|
$94.3m
+464.52%
|
($61.5m)
-165.20%
|
($51.4m)
+16.33%
|
— | — | |
| Depreciation and amortization | $857k | $611.0m | $496.0m | $466.2m | $424.8m | $387.8m | $369.7m | $295.4m | $298.3m | $360.5m | |
| Amortization of debt issuance costs and debt discount and premium | — | — | — | — | — | $8.0m | $7.9m | $2.2m | $6.0m | — | |
| Amortization of offering cost of warrants | — | — | — | $0 | $12.6m | $0 | $1.5m | $0 | — | — | |
| Amortization of right of use assets | — | $0 | $0 | $1.4m | $1.9m | — | — | — | — | — | |
| Deferred income taxes | $0 | ($24.6m) | ($40.7m) | ($73.6m) | ($41.5m) | ($108.8m) | ($41.9m) | ($35.0m) | $23.7m | $22.0m | |
| Deferred tax benefit | $0 | $0 | $0 | $0 | ($426k) | ($624k) | $0 | — | — | — | |
| Share-based compensation expense | $2.0m | $20.0m | $30.2m | $74.5m | $75.4m | $69.5m | $65.4m | $63.4m | $45.1m | $39.7m | |
| Impairment of goodwill | — | $295.0m | $0 | $0 | $52.4m | $534.5m | $708.8m | $714.9m | $0 | — | |
| Impairment of assets, net | — | — | $0 | $0 | $0 | $146.1m | $52.2m | $20.0m | $0 | — | |
| Impairment loss on goodwill and intangible assets | — | — | — | — | $0 | $2.3m | $10.0m | $0 | $0 | — | |
| Impairment loss of investment in unconsolidated entity | $0 | $4.0m | $0 | — | — | — | — | — | — | — | |
| Accounts receivable | ($245k) | ($32.3m) | ($42.2m) | ($156.0m) | ($69.5m) | ($82.4m) | $275.1m | $20.5m | $27.6m | ($2.9m) | |
| Other receivables | $4.6m | ($1.7m) | ($929k) | ($287k) | ($338k) | $286k | ($1.3m) | $32k | ($531k) | — | |
| Other receivables-related parties | — | — | — | — | $0 | $0 | ($64k) | ($276k) | $208k | — | |
| Accounts receivable-related party | — | — | ($3.4m) | $0 | $3.4m | $0 | — | — | — | ($2.9m) | |
| Allowance (reversal) for slow moving inventories | $0 | $65k | $65k | $57k | $655k | $266k | $485k | $887k | ($1.3m) | — | |
| Inventories | $3.6m | ($5.0m) | ($1.2m) | ($1.1m) | ($2.5m) | ($689k) | ($2.4m) | $5.6m | $267k | — | |
| Inventories transferred to and used as fixed assets | $0 | $0 | $0 | $410k | $303k | $0 | ($65k) | $0 | — | — | |
| Accounts payable, accrued expenses, and other current liabilities | — | $51.2m | ($32.7m) | ($7.4m) | $88.1m | $69.8m | ($44.2m) | ($22.2m) | ($26.4m) | ($32.4m) | |
| Accounts payable | $812k | ($2.7m) | ($400k) | $8.2m | ($2.1m) | ($5.5m) | ($1.7m) | ($604k) | $1.9m | ($32.4m) | |
| Other payables | ($189k) | ($180k) | ($862k) | ($14k) | $5.7m | ($6.3m) | $2.3m | ($3.0m) | $3.4m | — | |
| Other payables-related parties | — | — | ($921k) | $2.2m | ($2.6m) | $969k | $352k | ($293k) | $628k | — | |
| Provision for bad debts and accrued customer credits | $1.8m | $12.6m | $17.8m | $24.7m | ($2.0m) | $12.4m | $9.0m | $19.5m | $6.1m | — | |
| Deferred revenue | $853k | $9.8m | $11.6m | $9.9m | $21.6m | ($21.6m) | ($5.8m) | $2.4m | $10.4m | — | |
| Increase (decrease) in property, equipment and software accrued in liabilities | — | $53.5m | ($4.0m) | ($13.4m) | ($10.6m) | $17.6m | ($13.6m) | ($9.9m) | $15.3m | — | |
| Accrued interest income from loans to third parties | — | — | — | $0 | $0 | ($271k) | ($8.0m) | ($7.0m) | ($5.3m) | — | |
| Accrued interest income from short-term investment | — | — | — | — | $0 | $0 | ($2.9m) | ($885k) | ($17k) | — | |
| Accrued payroll and employees' welfare | $1.6m | $141k | $784k | $533k | ($1.6m) | $296k | $132k | $855k | ($25k) | — | |
| Accrued expenses | — | $0 | $0 | $9k | ($984k) | — | — | — | — | — | |
| Other operating activities | — | $300k | ($400k) | ($1.4m) | ($2.1m) | ($200k) | $400k | ($6.5m) | ($2.0m) | — | |
| Prepaid expenses and other current assets | — | ($1.4m) | ($10.2m) | ($58.0m) | $9.5m | ($7.1m) | $24.6m | $10.5m | ($2.8m) | — | |
| Net cash provided by operating activities | ($7.4m) |
$429.8m
+5922.62%
|
$292.9m
-31.85%
|
$116.7m
-60.16%
|
$370.8m
+217.74%
|
$246.7m
-33.47%
|
$374.9m
+51.97%
|
$39.9m
-89.36%
|
$151.4m
+279.45%
|
$143.9m
-4.95%
|
|
| Purchases of property, equipment and software | $638k | ($294.3m) | ($198.0m) | ($116.5m) | ($108.4m) | ($80.4m) | ($96.9m) | ($111.1m) | ($60.8m) | — | |
| Acquisition of property, equipment and software by finance leases | $0 | $0 | $12.6m | $93.7m | $60.4m | $36.7m | $67.7m | $40.8m | $50.6m | — | |
| Acquisition of property, equipment and software by financing obligations | $0 | $0 | $3.1m | $27.8m | $44.7m | $7.1m | $25.0m | $4.4m | $13.7m | — | |
| Non-cash purchases of property, equipment and software | $638k | $53.8m | $11.7m | $108.1m | $94.5m | $61.4m | $84.4m | $25.3m | $78.6m | — | |
| Loss (gain) from disposal of property and equipment | ($36k) | ($78k) | $0 | ($89k) | $20k | $49k | ($13k) | $35k | $12k | — | |
| Purchases of property and equipment | ($638k) | ($1.5m) | ($1.7m) | ($86k) | ($522k) | ($692k) | ($941k) | ($282k) | ($1.0m) | ($67.0m) | |
| Proceeds from disposal of property and equipment | $52k | $32k | $0 | $900 | $0 | $0 | $32k | $20k | $2k | — | |
| Receivable for disposal of property and equipment | $0 | $82k | $0 | $110k | $0 | $3k | $0 | $4.4m | $13.7m | — | |
| Non-cash payment for property and equipment purchase | $87k | $0 | $11.7m | $108.1m | $94.5m | $61.4m | $84.4m | $25.3m | $78.6m | — | |
| Gain on investments, net | — | ($4.6m) | ($99.5m) | ($700k) | $3.0m | $200k | ($300k) | ($100k) | ($300k) | — | |
| Payments for short-term investments | — | — | — | — | $0 | $0 | ($290.1m) | ($203.5m) | ($3.6m) | — | |
| Redemption of short-term investments | — | — | — | — | $0 | $0 | $108.8m | $300.9m | $87.2m | — | |
| Other investing activities | — | $2.4m | $1.3m | ($3.3m) | $8.1m | $5.2m | $900k | $7.6m | $2.4m | — | |
| Net cash used in investing activities | $12.5m | ($348.3m) | ($386.5m) | ($128.4m) | ($69.0m) | ($97.9m) | ($96.0m) | ($86.6m) | ($58.4m) | ($61.1m) | |
| Gain on debt extinguishment, net of debt modification costs | — | ($500k) | ($9.8m) | $71.5m | $37.5m | $0 | ($271.3m) | ($147.2m) | $0 | — | |
| Proceeds from borrowings under long-term debt arrangements | $0 | $0 | $225.0m | $860.0m | $2.8b | $0 | $50.0m | $275.0m | $155.0m | — | |
| Payments on long-term debt | $0 | ($30.9m) | ($320.0m) | ($1.5b) | ($2.9b) | ($23.0m) | ($241.9m) | ($163.0m) | ($198.2m) | — | |
| Debt extinguishment costs | — | — | — | — | — | $0 | $0 | ($22.1m) | $0 | — | |
| Repayments of short-term borrowings | ($1.3m) | ($4.9m) | $0 | ($1.0m) | ($3.4m) | ($530k) | $0 | $0 | — | — | |
| Proceeds from short-term borrowings-related parties | — | — | $5.0m | $17.4m | $18.4m | $11.1m | $15.0m | $10.0m | — | — | |
| Repayments of short-term borrowings-related parties | — | — | ($5.0m) | ($16.2m) | ($15.9m) | ($14.8m) | ($9.0m) | ($10.0m) | — | — | |
| Proceeds from short-term borrowings | $1.1m | $4.6m | $1.1m | $200k | $3.7m | $0 | — | — | — | — | |
| Proceeds from long-term borrowings-related party | — | — | — | — | $0 | $0 | — | — | — | — | |
| Shares of common stock withheld for employee taxes | — | $0 | ($1.1m) | ($2.1m) | $0 | $0 | ($1.0m) | ($4.3m) | ($2.0m) | — | |
| Proceeds from warrants issued with common stock | — | — | $0 | $0 | $212.1m | $0 | $17.5m | — | — | — | |
| Issuance of common stock in exchange of shares of FGS, net of issuance costs | $0 | $0 | $21.4m | $0 | $1.7m | $0 | — | — | — | $0 | |
| Cancellation of common stock issued prior years in exchange of shares of FGS , net of issuance costs | — | — | $0 | $0 | ($1.7m) | $0 | — | — | — | — | |
| Issuance of common stock in exchange of shares of Starry, net of issuance costs | — | — | $0 | $0 | $27.7m | $0 | — | — | — | $0 | |
| Issuance of unvested common stock to senior managers | $56k | $0 | — | — | — | — | — | — | — | — | |
| Net cash used in financing activities | ($3.1m) |
($53.7m)
-1645.23%
|
($79.2m)
-47.49%
|
$29.9m
+137.75%
|
($132.2m)
-542.14%
|
($187.0m)
-41.45%
|
($312.8m)
-67.27%
|
($3.0m)
+99.04%
|
($134.6m)
-4386.67%
|
($118.1m)
+12.26%
|
|
| Cash, cash equivalents, and restricted cash at beginning of period | — | $258.2m | $87.1m | $108.1m | $275.4m | $231.4m | $199.7m | $147.0m | $108.0m | — | |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | — | ($4.5m) | $1.7m | $2.8m | ($2.3m) | ($5.8m) | $2.2m | ($3.0m) | $2.6m | $200k | |
| Decrease in cash, cash equivalents, and restricted cash | $2.0m | $23.3m | ($171.1m) | $21.0m | $167.3m | ($44.0m) | ($31.7m) | ($52.7m) | ($39.0m) | — | |
| Restricted cash included in other non-current assets | — | $3.9m | $3.3m | $3.4m | $2.6m | $3.0m | $2.9m | $3.0m | $2.2m | — | |
| Restricted cash | — | — | — | $0 | $0 | $0 | $732k | $849k | $8k | — | |
| Effect of exchange rate fluctuation on cash | ($16k) | $1.8m | $1.4m | ($84k) | $224k | — | — | — | — | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Reduction in carrying amount of operating right-of-use assets | — | $0 | $70.5m | $70.7m | $65.9m | $59.8m | $73.2m | $67.6m | $64.3m | — | |
| Unrealized loss on derivative contracts | — | ($4.6m) | $54.0m | ($2.3m) | $16.8m | $18.5m | $15.5m | $0 | $0 | — | |
| Third party fees paid in connection with the March 2024 Refinancing Transactions | — | — | — | — | — | $0 | $0 | ($31.7m) | $0 | — | |
| Non-cash fair value adjustments | — | — | — | $0 | $0 | $3.2m | ($1.0m) | ($2.2m) | ($2.1m) | — | |
| Operating lease liabilities | — | $0 | ($78.1m) | ($58.0m) | ($61.4m) | ($65.5m) | ($65.6m) | ($82.8m) | ($68.8m) | — | |
| Other non-current assets and liabilities | — | ($49.5m) | $12.5m | ($15.6m) | ($18.3m) | $27.3m | $41.0m | $9.4m | ($1.9m) | — | |
| Proceeds from sale of headquarters | — | — | $0 | $0 | $31.3m | $0 | $0 | $16.9m | $0 | — | |
| Proceeds from employee stock plans | — | $0 | $0 | $31.1m | $61.1m | $3.7m | $1.3m | $900k | $500k | — | |
| Payments on financing component of interest rate swap | — | — | $0 | $0 | ($12.9m) | ($17.2m) | ($18.8m) | ($17.3m) | ($17.4m) | — | |
| Principal payments of finance lease liabilities | — | — | ($19.9m) | ($24.0m) | ($50.6m) | ($67.2m) | ($79.7m) | ($56.9m) | ($56.6m) | — | |
| Principal payments of financing obligations | — | ($5.0m) | ($22.1m) | ($54.4m) | ($55.9m) | ($49.0m) | ($22.7m) | ($15.3m) | ($15.9m) | — | |
| Cash payments for interest, net of amount capitalized | $571k | $262.5m | $265.3m | $262.8m | $178.5m | $177.9m | $213.9m | $103.6m | $82.8m | — | |
| Cash payments for income taxes, net of refunds | $284k | $13.9m | $7.2m | $15.6m | $5.5m | $10.5m | $11.9m | $10.8m | $8.3m | — | |
| Other non-cash activity | — | — | — | — | $0 | $0 | $5.3m | ($10.0m) | ($1.0m) | — | |
| Cash and cash equivalents | $1.8m | $254.3m | $83.8m | $104.7m | $272.8m | $228.4m | $196.8m | $144.0m | $105.8m | $131.1m | |
| (Gain) loss in fair value changes of warrants liability | $0 | — | — | $0 | ($35.4m) | ($174.5m) | ($6.1m) | $934k | ($6k) | — | |
| Restricted shares issued for management and employees | — | ($15.5m) | $21.3m | $7.9m | $6.1m | $39.3m | $26.2m | $22.4m | $10.3m | — | |
| Restricted shares issued for services | $8.4m | $3.1m | $846k | $34k | $0 | $8.9m | $5.8m | $1.1m | — | — | |
| Notes receivable | ($1.5m) | $2.1m | $922k | ($1.1m) | ($2.1m) | ($4.5m) | $7.1m | $2.4m | $1.3m | — | |
| Purchase advances | ($10.5m) | ($297k) | $5.8m | $1.2m | ($899k) | $865k | ($2.6m) | ($2.4m) | ($5.1m) | — | |
| Contract costs | — | ($127k) | $7.6m | ($26.9m) | ($21.9m) | $15.4m | ($14.2m) | ($4.4m) | ($364k) | — | |
| Prepaid expense | ($718k) | $319k | $317k | ($5k) | $143k | ($274k) | $70k | ($51k) | $12k | — | |
| Prepaid expense - related parties | — | — | ($218k) | $218k | ($433k) | $158k | $275k | $0 | — | — | |
| Taxes payable | ($79k) | ($269k) | $1.7m | ($1.1m) | $76k | $962k | ($1.0m) | ($172k) | ($198k) | — | |
| Purchase of land use right | — | — | — | — | — | $0 | $0 | ($15.0m) | — | — | |
| Repayments of loans to third parties | $14.2m | $435k | $1.0m | $11.2m | $5.2m | $171.4m | $40.1m | $117.5m | $100.5m | — | |
| Payments made for loans to third parties | ($1.1m) | ($2.0m) | ($4.0m) | ($9.5m) | ($51.6m) | ($171.1m) | ($103.1m) | ($196.4m) | ($140.5m) | — | |
| Payments and prepayments for construction in progress | $0 | ($9.2m) | ($4.6m) | ($3.8m) | $0 | $0 | $0 | ($219k) | ($8.9m) | — | |
| Proceeds from short-term bank loans | $0 | $45k | $2.5m | $9.5m | $16.0m | $10.0m | $13.5m | $11.6m | $10.5m | — | |
| Repayments of short-term bank loans | $0 | ($45k) | $0 | ($2.5m) | ($10.5m) | ($15.0m) | ($11.0m) | ($11.6m) | ($11.3m) | — | |
| Proceeds from warrants issued with ordinary shares | — | — | — | — | — | — | $17.5m | $0 | — | — | |
| Proceeds from sale of ordinary shares, net of issuance costs | $0 | $65.0m | $0 | $26.1m | $81.1m | $0 | $28.2m | $77.7m | ($2.5m) | — | |
| Proceeds from sale of prefunded warrants, net of issuance costs | — | — | $0 | $0 | $30.3m | $93k | $3.8m | $0 | — | — | |
| Redemption of warrants | — | — | — | — | — | $0 | $0 | ($32.6m) | $0 | — | |
| Capital contribution by controlling shareholders | — | — | — | — | — | — | $0 | $0 | $100k | — | |
| Cash | — | — | — | $4.5m | $30.3m | $344.0m | $104.1m | $110.0m | $98.9m | $143.9m | |
| Right-of-use assets obtained in exchange for operating lease obligations | — | $0 | $0 | $1.2m | $7.2m | $938k | $75k | $8.3m | — | — | |
| Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement | — | — | — | — | $0 | $0 | $62k | $61k | $1.9m | — | |
| Payable for construction in progress | $0 | $3.1m | $5.7m | $733k | $0 | — | $0 | $0 | $7.3m | — | |
| Capital contribution receivable due from non-controlling Interest | — | — | $0 | $0 | $50.0m | $0 | $0 | $0 | $724k | — | |
| Income from investment in unconsolidated entity | $0 | $0 | $960k | ($463k) | $267k | ($15k) | $0 | $0 | — | — | |
| Cancellation of shares issued to Starry Lab | — | — | — | $0 | $0 | ($27.7m) | $0 | — | — | — | |
| Other payable due to non-controlling interest converted into capital contribution | — | — | — | $0 | $0 | $1.1m | $0 | — | — | — | |
| Remeasurement gain of previously held equity interests in connection with step acquisition | — | — | $0 | $0 | ($979k) | $0 | — | — | — | — | |
| Interest expenses related to convertible notes | — | — | $0 | $0 | $430k | $0 | — | — | — | — | |
| Step acquisition of FGS, net of cash | — | — | $0 | $0 | $472k | $0 | — | — | — | — | |
| Proceeds from stock issuance for warrants exercised | — | — | $0 | $0 | $21.1m | $0 | — | — | — | — | |
| Proceeds from issuance of convertible notes | — | — | $0 | $0 | $42.0m | $0 | — | — | — | — | |
| Capital contribution by non-controlling shareholders | $0 | $3.7m | $850k | $405k | $50k | $0 | $0 | — | — | — | |
| Conversion of convertible notes to 9,225,338 shares of ordinary shares | — | — | $0 | $0 | $42.4m | $0 | — | — | — | — | |
| Payable for issuance cost of common share | — | $0 | $0 | $375k | $0 | — | — | — | — | — | |
| Advance from customers | — | $28k | ($38k) | $3.4m | $4.2m | — | — | — | — | — | |
| Investment in unconsolidated entity | $0 | ($4.0m) | ($4.2m) | $0 | — | — | — | — | — | — | |
| Refund of capital contribution by a non-controlling shareholder | $0 | $0 | ($200k) | $0 | — | — | — | — | — | — | |
| Investment payable in exchange of interest of FGS | $0 | $0 | $6.4m | $0 | — | — | — | — | — | — | |
| Reversal of interest expense | — | $0 | $0 | ($81k) | — | — | — | — | — | — | |
| Payments for land use right | $0 | ($1.4m) | $0 | — | — | — | — | — | — | — | |
| Shares issued to settle salary payable | $0 | $1.6m | $0 | — | — | — | — | — | — | — | |
| Restricted shares issued for management | $12.9m | $14.6m | $11.6m | — | — | — | — | — | — | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.