Rackspace reports Q3 2026 revenue down 9%, raises full-year revenue outlook, maintains profit guidance

Rackspace Technology reported $609 million in revenue for Q3 2026, down 9% year-over-year, driven by a 17% decline in public cloud revenue despite a 4% rise in private cloud revenue. The company improved its cash flow and reduced its net loss compared to the previous year. Rackspace raised its full-year 2026 revenue forecast by $35 million at the midpoint while maintaining its non-GAAP operating profit and adjusted EBITDA guidance. CEO Gajen Kandiah highlighted progress in executing their enterprise AI strategy and expects continued growth from their AI infrastructure offerings.

Rackspace Technology's stock trades at USD 2.64 on Pluang as of Nov 10, 2026 04:31 WIB, showing a 4.35% increase in one day. The company’s market capitalization stands at $643.55 million, reflecting investor interest despite the recent revenue decline. Trading volume reached 3,917,089 shares, with the stock's 52-week range between $0.41 and $7.53, indicating significant price volatility over the past year.