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Rackspace Technology, Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-K10-K
Revenues:  
    Apps & Cross Platform  396.9377.6336.6319.2290.0
    APJ  154.0123.294.186.085.0
    Other  2,571.42,508.72,276.42,032.92,077.8
Total revenues  3,122.33,009.52,707.12,438.12,452.8
            Revenue growth   [+]3.7%11.2%11.0%-0.6% 
Cost of goods sold  2,265.42,072.71,722.71,426.91,445.7
Gross profit  856.9936.8984.41,011.21,007.1
            Gross margin  27.4%31.1%36.4%41.5%41.1%
Selling, general and administrative  855.3906.8959.7911.7949.3
Other operating expenses   -19.9 -4.2 
EBITDA   [+]389.4474.7490.9599.7668.8
            EBITDA margin  12.5%15.8%18.1%24.6%27.3%
Depreciation  221.0245.1289.9328.5446.8
EBITA  168.4229.6201.0271.2222.0
            EBITA margin  5.4%7.6%7.4%11.1%9.1%
Amortization of intangibles  166.8179.7176.3167.5164.2
EBIT   [+]1.649.924.7103.757.8
            EBIT margin  0.1%1.7%0.9%4.3%2.4%
Non-recurring items   [+]680.652.4 2.1295.0
Interest expense  208.5205.1268.4329.9281.1
Other income (expense), net   [+]-10.2-41.5-68.3106.017.8
Pre-tax income  -897.7-249.1-312.0-122.3-500.5
Income taxes  -92.9-30.8-66.2-20.0-29.9
            Tax rate  10.3%12.4%21.2%16.4%6.0%
Net income  -804.8-218.3-245.8-102.3-470.6
            Net margin  -25.8%-7.3%-9.1%-4.2%-19.2%
   
Basic EPS   [+]($3.81)($1.05)($1.37)($0.62)($2.85)
Diluted EPS   [+]($3.81)($1.05)($1.37)($0.62)($2.85)
   
Shares outstanding (basic)   [+]211.2208.0179.6165.3165.2
Shares outstanding (diluted)   [+]211.2208.0179.6165.3165.2
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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