Rackspace Slashed Revenue Guidance, Sending RXT Stock Plummeting. What Comes Next.

Rackspace Technology (RXT) shares came under pressure yesterday following an 8-K filing in which management scaled back expectations for full fiscal 2026. RXT now sees its revenue falling between $2.45 billion and $2.55 billion this year, down roughly $150 million from the prior guidance.

And internal estimates for adjusted EBITDA now sit in the range of $285 million to $295 million, also down from $305 million to $315 million previously.