Rackspace Technology, Inc. (NASDAQ:RXT) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET
Company Participants
Robert Watson - VP, Corporate Finance
Amar Maletira - CEO
Bobby Molu - CFO
Conference Call Participants
Kevin McVeigh - Credit Suisse
Ashwin Shirvaikar - Barclays
Frank Louthan - Raymond James
Brendan Biles - JPMorgan
James Breen - William Blair
Bradley Clark - BMO Capital Markets
Operator
Good afternoon and thank you for standing by. Welcome to Rackspace Technology's Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s call is being recorded.
I would now like to hand the call over to Robert Watson, Vice President of Corporate Finance. Please go ahead.
Robert Watson
Thank you and good afternoon. I am joined today by Amar Maletira, our Chief Executive Officer and Bobby Molu, our Chief Financial Officer, who recently joined in January. Supplemental materials to today's earnings announcement as well as a replay of today's call can be found on our Investor Relations website.
As a reminder, certain comments we make on this call will be forward-looking. The statements involve risks and uncertainties which could cause actual results to differ. A discussion of these risks and uncertainties is included in our SEC filings. Rackspace Technology assumes no obligation to update the information presented on the call, except as required by law.
Our presentation includes certain non-GAAP financial measures and adjustments to those measures, which we believe provide useful information to our investors. In accordance with SEC rules, we have provided a reconciliation of these measures to their most directly comparable GAAP measures and the earnings release and presentation, both of which are available on our IR website.
I will now turn the call over to Amar for an update on the business.
Amar Maletira
Thank you, Robert. First, I'd like to quickly update you on the Ransomware incident we experienced late in Q4. On December 2, Rackspace detected suspicious activity in our hosted exchange email environment, which triggered our incident response team to act immediately to contain the threat. We quickly engaged industry leading cybersecurity firm CrowdStrike and other experts to assist us with the forensic investigation, which was completed in roughly 30 days.
The investigation determined this was the result of a zero day exploit, which means the attack vector was not previously known, and it was a sophisticated attack. Due to a team's swift action to contain the threat, the impact was limited solely to the hosted exchange email environment, which makes up less than 1% of our total revenue. No enterprise customers were impacted and no other Rackspace products, platforms, solutions or businesses were affected as a result of this incident.