Business
Rapid7 Announces Fourth Quarter and Full-Year 2019 Financial Results
Annualized recurring revenue (ARR) of $338.7 million, an increase of 35% year-over-yearFourth quarter 2019 revenue of $91.6 million and full year 2019 revenue
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $338.7 million, an increase of 35% year-over-yearFourth quarter 2019 revenue of $91.6 million and full year 2019 revenue of $326.9 millionFourth quarter 2019 year-over-year revenue growth of 33% and full-year 2019 year-over-year revenue growth of 34%Customer growth of 16% year-over-yearGuiding 2020 ARR year-over-year growth between 24% to 26% and year-over-year revenue growth between 21% and 24% BOSTON, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Rapid7, Inc. (NASDAQ: RPD), a leading provider of security analytics and automation, today announced financial results for the fourth quarter and full-year 2019.\n \"Rapid7 capped off another great year in 2019 with strong full-year operating results. Our ARR grew by 35% and we again exceeded the high end of our guidance with revenue growth of 34% while delivering a 9-point improvement in non-GAAP operating margin from the prior year,\" said Corey Thomas, Chairman and CEO of Rapid7. \"These results reflect a healthy demand environment and consistent execution. With a leading and well-diversified product portfolio, we see a large opportunity in front of us and are well positioned for future growth. As a result, for 2020, we expect strong ARR growth of 25%, at the midpoint, while continuing to deliver operating leverage.\" Fourth Quarter 2019 Financial Results and Other Metrics Three Months Ended December 31, 2019 2018 % Change (dollars in thousands)Annualized recurring revenue$338,714 $251,819 35%Number of customers9,022 7,808 16%ARR per customer$37.5 $32.3 16%Recurring revenue as a percentage of total revenue87% 83% Renewal rate*108% 119% * For the three months ended December 31, 2018, our renewal rate was adjusted from 120%, as previously disclosed, to 119% based on a reclassification of certain upsells and cross-sells. Three Months Ended December 31, Year Ended December 31, 2019 2018 % Change 2019 2018 % Change (in thousands, except per share data)Products revenue$74,326 $50,420 47% $261,119 $168,571 55%Maintenance and support revenue8,671 10,246 (15)% 36,778 42,223 (13)%Professional services revenue8,651 8,104 7% 29,050 33,297 (13)%Total revenue$91,648 $68,770 33% $326,947 $244,091 34% North America revenue$76,258 $58,488 30% $274,481 $207,727 32%Rest of world revenue15,390 10,282 50% 52,466 36,364 44%Total revenue$91,648 $68,770 33% $326,947 $244,091 34% ...