Rackspace Technology’s Revenue by Segment (2019-2021)

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This statistic highlights Rackspace Technology’s Revenue by Segment, split across Apps and cross platform, multicloud services, and open stack public cloud, reported on a quarterly basis from 2019 onwards.
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This statistic highlights Rackspace Technology’s Revenue by Segment, from 2019 onwards, split across Apps and cross platform, multicloud services, and open stack public cloud, till latest quarter of 2021 on a quarterly basis.

Rackspace Technology’s Revenue by Segment

Revenue by Segment Q2 2020 Q1 2021 Q2 2021 Contribution in Q2 2021
Apps and cross platform $79.9 $97.3 $92.7 12.5%
Multicloud services $419.0 $579.6 $605.1 81.4%
Open stack public cloud $57.6 $49.0 $46.0 6.2%
Total $656.5 $725.9 $743.8 100.0%

(All figures are in millions, except percentages)

Rackspace Technology’s total revenue stood at $743.8 million in Q2 2021. The company’s total revenue increased from $656.6 million earned in Q2 2020 to $743.8 million earned in Q2 2021, marking a rise of 13.30% on a year-on-year basis. It also grew by 2.4% on a quarterly basis, as compared to $725.9 million earned in Q1 2021.

Rackspace Technology’s revenue is further bifurcated into the following segments:

Apps and cross platform

Its Apps and Cross Platform segment consists of managed applications, managed security and data services, as well as professional services associated with designing and executing application, security, and data services.

Rackspace Technology’s apps and cross platform segment contributes 12.5% to the company’s total revenue in Q2 2021, amounting to $92.7 million. The revenue from Apps and cross platform increased by 16%on a year-on-year, from $79.9 million earned in Q2 2020 to $92.7 million earned in Q2 2021. However, it decreased by 4.7% on a quarter-on-quarter basis, as compared to $97.3 million earned in Q1 2021. 

Multicloud Services

The company’s Multicloud Services segment comprises of public and private cloud managed services offerings, as well as professional services related to planning and building multicloud solutions and cloud-native presentations. It offers an integrated suite of accomplished services supplying across its private cloud, the prominent public clouds, and colocation. Its structured cloud services assist customers to determine, manage, and optimize the right setup, platforms, and services on which to run their applications to realize the best performance, dexterity, security, and cost-efficiency. It also helps customers create governance, operative and architectural frameworks to lessen risks and reduce inadequacies, so they can manage costs, achieve industry-specific acquiescence objectives and advance security.

The majority of Rackspace Technology’s revenue is generated through the Multicloud services segment, accounting for 81.4% of the company’s revenue in Q2 2021, amounting to $605.1 million. It grew by 44.4% on a year-on-year basis, as compared to $419 million earned in Q2 2020. On a quarterly basis, the revenue grew by 5%, as compared to 579.6 million earned in Q1 2021.

Open stack public cloud

This segment appeals to customers who want to operate applications on a public cloud, which is built on open-source technology with zero risk of vendor lock-in. It also includes customers who value the proficiency and excellent customer service for which the company is renowned. Customers who want their public cloud and managed to hold platforms to operate smoothly together, through advancements such as its proprietary RackConnect tool. Although it expects to continue to supply its OpenStack Public Cloud solution, it ceased to actively market it to customers in 2017.

In Q2 2021, Rackspace Technology’s revenue from the Open stack public cloud segment stood at $46 million, accounting for 6.2% of the company’s total revenue. It has decreased by 20.1% on a year-on-year basis, as compared to $57.6 million earned in Q2 2020. It witnessed a fall of 6.1% on a quarterly basis, as compared to $49 million earned Q1 2021. 

About Rackspace Technology

Rackspace technology is a prominent end-to-end multicloud technology services corporation. It designs, builds, and operates its customers’ cloud settings across all chief technology platforms, irrespective of technology stack or deployment structure. It partners with its clientele at every juncture of their cloud journey, assisting them to improve applications, form new products and implement innovative technologies. It serves its customers with a unique arrangement of proprietary technology, developed from over $1 billion of investment and services by a team of highly skilled advisors and engineers. It provides its customers with impartial expertise and technology solutions, supplied over the world’s leading cloud services, all draped in a Fanatical Experience. It believes this builds an opportunity for a services partner that empowers businesses to fully clinch the power of multicloud technologies and, together, deliver the best customer experiences. The company goes by the stock symbol ‘RXT’ and is traded on the NASDAQ stock exchange.

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