Firstly, you can see how much progress we have made in aggregate sales bookings growth over a short period of time. I'm just wondering if you could dig a little bit deeper into that portfolio and talk about what's driving that acceleration. Invest in growth is a key theme here, because you can see how it's paying off for us in the very short term in terms of our revenue growth. Maybe I'll start with that, Dustin, and then you can jump. Nine Months Ended September 30, Year-Over-Year Comparison 2019 2020 (In millions, except % and per share data) Amount % Revenue Amount % Revenue Amount % Change Revenue $ 1,811.0 100.0 % $ 1,990.9 Welcome to the Rackspace Technology, third quarter 2020 earnings call. This is something that is here to stay. Over time, we expect margins will increase as our new customer relationships mature. And by the way, a little more on this color for you here, Matt. We will also provide revenue metrics in constant currency, when available, as a framework for assessing how our underlying businesses performed excluding the effects of foreign currency rate fluctuations. We will address 2021 guidance during our fourth quarter earnings call. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.18. Rackspace Technology won the business by providing a means to stabilize and optimize a large, complex Google Cloud-supported application through Platform Essentials and Service Blocks, along with advisory guidance for critical areas of security and compliance best practices. Nov. 10, 2020Updated: Nov. 10, 2020 2:36 p.m. SAN ANTONIO (AP) _ Rackspace Technology, Inc. (RXT) on Tuesday reported a loss of $101.2 million in its third quarter. This comes after reporting adjusted earnings … His resignation is effective Nov. 23., so Semach will stay for the company's third-quarter earnings report, according to a news release. Rackspace Technology: 3Q Earnings Snapshot Associated Press | The San Antonio-based company said it had a loss of 54 cents per share. There's nothing different about the duration. Amit Daryanani -- Evercore ISI -- Analyst. And once we get to Q4, we'll give a better indication about what fiscal year '21 holds. So a large part of that deal is related to applications and some of our cross platform services. It's broad-based across the board, again, all service offerings, geographies, etc. Rackspace Technology, Inc. is expected* to report earnings on 11/10/2020 after market close. Thank you. And then, of course, the public cloud environments just continue to gain more and more steam and more and more momentum. You just kind of think about the acquisition we did with Onica. The company’s stock price has collected -4.01% of loss in the last five trading sessions. This drives our double-digit revenue growth profile, improves profitability and results in strong and sustainable free cash flow growth. I know it's improving, but I suspect there's going to be a point in time in the not-too-distant future where that becomes a lot more meaningful. Our Service Blocks allow customers to buy offerings that fit their particular needs at a given point in time. The San Antonio-based company said it had a loss of 54 cents per share. And this is paying off extremely well in our top line. And we're very well positioned to sell additional Service Blocks with them, which increase both our revenue and our margins with each customer. Looking forward, I'm excited about the future for Rackspace Technology. This approach allows us to have laser focus when managing customer relationships. We are also seizing the massive multi-cloud opportunity available to us and investing in growth. Rackspace Technology expects full-year earnings … And we're having great luck partnering with the hyperscalers as we go to market. And our next question and our next question comes from the line of Tien-Tsin Huang with JP Morgan. So gives us 55 fantastic folks in the Central European and German market that will help us kind of expand our presence not just in Europe, but also in the multi-cloud ecosystem in a whole where we continue to work on increasing our innovation and increasing our customer penetration there. SAN ANTONIO (AP) _ Rackspace Technology, Inc. (RXT) on Tuesday reported a loss of $101.2 million in its third quarter. Got a confidential news tip? Welcome back to Yahoo Finance Live. OpenStack now generates only 8% of our overall revenue, and we expect this segment to continue to decline in coming quarters. EBITDA growth is low single digits. So we're very optimistic. ECS is recognized as the first federal services CAP Preferred Earnings, adjusted for non-recurring costs, came to 19 cents per share. Welcome to the Rackspace Technology third-quarter 2020 earnings call. The growth was broad-based across both customer types and geographies. I heard the strong sales bookings. Hey, Bryan. PRESS RELEASE GlobeNewswire . Our capital intensity improved to 7%, in line with our shift to capital-light offerings. Sales bookings were $315 million, an increase of 64% compared to $192 million in last year's third quarter. What is most amazing about the third quarter sales bookings record is that we beat a second quarter bookings figure that included one very large deal. As we've discussed previously, we're right in the middle of a tectonic shift in the industry to multi-cloud. Now what we've done to enable that 16 months in a row of sales execution is, first of all, you probably remember we increased our sales force. Any insight around what's happening there? Rackspace Technology reported third quarter earnings that beat expectations. Yes, we're excited about the quarter. And by the way, just to also say, in October, we exceeded our sales targets again. Our execution on the sales front has been very consistent, right? Dan Perlin -- RBC Capital Markets -- Analyst. But even in the near term, each quarter, our pipeline continues to grow, and we will win in the marketplace due to our unique positioning as a leading pure-play multi-cloud provider. Bookings, up over 60% year over year; 9% since last quarter, even though the last quarter included the large State of Texas deal. Can you just touch on the dynamics over there? We focused on the enterprise market, and we expanded globally. We're using insights from customers and partners to develop new services and capabilities around tomorrow's technologies. Video Transcript ZACK GUZMAN: Welcome back to Yahoo Finance Live. The targets that Dustin and I set for the team certainly are increasing. The company posted revenue of $681.7 million in the period. Please go ahead. Our philosophy when integrating companies like we did with Onica is to make sure we do it with extreme quality. This speaks to the core strengths of Rackspace Technology's go-to-market strategy, which I will detail in a minute. Perfect. And through the implementation of our management system and the execution of over 120 transformation programs, we continue to transform the company into a leader in end-to-end multi-cloud solutions. We think about our sales strategy in three tiers. Those two coupled together did drive an impact to overall gross margin and adjusted EBITDA together. Got it. As a reminder, all participants are in listen only mode and the conference is being recorded after the presentation. Many thanks, gentlemen. Sure. This makes our achievement in Q3 even more special, with broad-based growth across geographies, industries and market segments. As we continue to stack Service Blocks with our customers, we recognize both improving customer retention and scale. We are at the early stages of a significant secular trend, and we are well positioned to capture and capitalize on this market momentum. I love this example of how widespread applications for multi-cloud are and how we can grow with our clients bring cutting-edge solutions to the table and protect even the most sensitive data of patient's medical history. Good afternoon, everyone. We'll be very thoughtful as we do additional acquisitions because we do have some important deleveraging targets, but given the extraordinary cash flow that this company produces, it's very straightforward for us to both delever the company and do acquisitions. However, this margin also generally increases as customers grow with us and add Service Blocks. Rackspace Technology, Inc. (NASDAQ:RXT)Q3 2020 Earnings CallNov 10, 2020, 5:00 p.m. So look, this is an important topic because if you kind of look at how Rackspace Technology is now, really a completely transformed company versus where we were before the take private. First of all, yes, we're pleased with our third quarter. Yes. On the left side of the slide, you'll see that we recently expanded our solutions set for Teva to help them broaden their digital health platform. Rackspace Technology expects full-year earnings in ⦠So there's a couple of things. So yes, we're really quite excited about the sales bookings momentum that we've had. Yes. Revenues in this segment declined 21% on a constant currency basis compared to Q3 of last year. Or should we just see one quarter where it really just sort of spikes up just based on that one alone? By no means is this an exhaustive list. As a reminder, all participants are in listen only mode and the conference is being recorded after the presentation. Dustin, anything else to add there? Earnings Rackspace Technology (NASDAQ:RXT) Earnings Information. Love to, Matt. We are excited by the momentum with these new customers and are optimistic as 29% of our bookings were from new logos in the 12 months ended September 30, 2020. On Slide 15, you'll see highlights of our financial model updated for the third-quarter results. Turning to Slide 6, you will see the updated chart of our sales bookings ramp. Before I turn the call to Dustin, I want to thank him again for his outstanding service to our company. The slide deck we will refer to during today's prepared remarks can be found on the investor relations section of our website. Second point is we are, as Dustin mentioned in his opening remarks, we are intentionally investing to grow, right? Kevin Jones, Chief Executive Officer, and Dustin Semach, Chief Financial Officer, will also host a conference call on the day of the release (November 10, 2020) at 5:00 pm ET to discuss the Company’s financial results. I'm wondering if you can talk a little bit more about where you see the biggest pockets of opportunity to acquire and just how you guys are thinking about the trade-off between M&A versus maybe some accelerated debt repayment going forward. So it's not really a question of going to private or public cloud, and that's why we kind of organized the company around multi-cloud. Well, thanks, Jennifer, and thanks, everyone, so much for joining us tonight and for the questions. We've done four acquisitions since the LBO, Tricore, Datapipe, RelationEdge and, most recently, Onica which is a fantastic acquisition. Rackspace CEO Kevin Jones joins "Squawk Alley" to discuss the company's third-quarter results. Because of our strong execution in this attractive market, we have raised our guidance for full-year 2020. In the upper left quadrant, you can see we generated record sales bookings of $315 million, which represents growth of 64% year over year. Slide 16 summarizes our third-quarter results across our four key financial metrics. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. I guess the first question I have, and I get this a fair amount regarding you guys, which is the lack of operating leverage in the model. A lot of that is because of the M&A that we've done as a company, right? That's the level of rigor and kind of execution orientation that we have in our sales organization. The 2017 cohort has grown at a rate of 25%, and the 2018 cohort has grown at a rate of 27%. Dustin, any other color to add there? On a pro forma basis, assuming the Onica acquisition had occurred on January 1, 2019, bookings increased 39% compared to last year's third quarter. Customers want to be able to scale up and scale down. And I'd like to thank the Rackspace Technology team and our partners for an outstanding performance. The numbers show that once customers are on board, our mandates expand. Our ecosystem is built on our proprietary software, IP and automation that allows us to differentiate our offerings and positions us well to win time and time again. And what that really helps the organization do is continue to reach higher and higher for the results. We implemented several transformation programs that have enabled this execution. This is a great visual of both the significant growth dynamic in multi-cloud as well as the success we have had implementing a number of initiatives to enable this growth. So thank you all for your support of Rackspace Technology, and we look forward to talking with you again soon. And then the last thing I'll say about this is we do have a growing funnel of cost transformation programs that we're executing. Slide 10 demonstrates how our strategic shift to multi-cloud solutions is working and has driven double-digit growth across all customer cohorts since 2016. Rackspace Technology (NASDAQ: RXT) earnings for the cloud company’s second quarter of 2020 have RXT stock falling after markets closed on Monday. Absolutely. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support And the last point I'll put to put a finer point on it, when you look at it from a cash flow perspective, if you knock out capital intensity, you look at overall free cash flow margin, it's still very, very strong at that level. How much have you raised your sales targets? Press Release Rackspace Technology to Announce Third Quarter 2020 Earnings on Tuesday, November 10, 2020 Published: Nov. 3, 2020 at 11:05 a.m. Understood. The complexity is mind-boggling for customers. This demonstrates that our land and expand strategy is working. Congrats on these results. The company posted revenue of $681.7 million in the period. Just to give you an example, you may have seen we announced today that we acquired Bright Skies, which is a company in Germany. We expect these repayments to save approximately $52 million in annual cash interest expense. In Q3, we grew these revenues by 20% on a constant currency basis compared to last year's third quarter. As Kevin just mentioned, we are very pleased with our third-quarter results as we delivered another record sales bookings quarter and strong core revenue growth. Rackspace Technology CEO Kevin Jones joins Yahoo Finance Live to discuss. We expect our core revenue growth to be 14% to 15%, up from the previous range of 12.5% to 13.5%. The quarter was highlighted by another record quarter for sales bookings, which grew 9% sequentially and 64% over last year. Very good. In accordance with SEC rules, we have provided a reconciliation of these measures to their respective and most directly comparable GAAP measures. Rackspace Technology (RXT) reports earnings on 2/9/2021. Earnings, adjusted for non-recurring costs, came to 19 cents per share. We're in a $400 billion market, which is growing fast and has secular tailwinds. We're pretty excited about kind of how we're executing the strategy there, Bryan. Our focus is to add either new geographies or new capabilities through strategic bolt-on acquisitions. We provided a little bit of detail in our presentation today with our customer cohorts. And so that's part of what you're seeing right now. 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