Business
Rapid7 Announces Fourth Quarter and Full-Year 2020 Financial Results
Annualized recurring revenue (ARR) of $432.9 million, an increase of 28% year-over-yearFull-year revenue of $411.5 million, up 26% year-over-year; Products
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $432.9 million, an increase of 28% year-over-yearFull-year revenue of $411.5 million, up 26% year-over-year; Products revenue of $382.9 million, up 29% year-over-yearTotal ARR per customer growth of 18% year-over-yearFull-year GAAP operating loss of $(74.1) million and non-GAAP operating income of $2.0 million BOSTON, Feb. 09, 2021 (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 2020. \"The Rapid7 team delivered a strong finish to 2020 that exceeded our expectations across both security transformation solutions and vulnerability management. Full-year ARR growth of 28% demonstrates our ability to capture the growing opportunity as organizations transform their security operations for the cloud,\" said Corey Thomas, Chairman and CEO of Rapid7. \"As we look ahead to 2021 we remain focused on delivering an Insight Platform experience that combines market leading technology and platform value for a differentiated customer experience.\" Fourth Quarter 2020 Financial Results and Other Metrics Three Months Ended December 31, 2020 2019 % Change (dollars in thousands)Annualized recurring revenue$432,946 $338,714 28%Number of customers9,736 9,022 8%ARR per customer$44.5 $37.5 18%Recurring revenue as a percentage of total revenue90% 87% Renewal rate103% 108% Three Months Ended December 31, Year Ended December 31, 2020 2019 % Change 2020 2019 % Change (in thousands, except per share data)Products revenue(1)$104,384 $82,997 26% $382,922 $297,897 29 %Professional services revenue8,775 8,651 1% 28,564 29,050 (2)%Total revenue$113,159 $91,648 23% $411,486 $326,947 26 % North America revenue$93,765 $76,258 23% $342,638 $274,481 25 %Rest of world revenue19,394 15,390 26% 68,848 52,466 31 %Total revenue$113,159 $91,648 23% $411,486 $326,947 26 % GAAP gross profit$79,465 $66,286 $289,969 $235,801 GAAP gross margin70 % 72 % 70 % 72 % Non-GAAP gross profit$83,002 $68,554 $302,967 $244,720 Non-GAAP gross margin73 % 75 % 74 % 75 % GAAP loss from operations$(20,631) $(12,315) $(74,099) $(45,995) GAAP operating margin(18)% (13)% (18)% (14)% Non-GAAP (loss) income from operations$(744) $785 $2,032 $2,404 Non-GAAP operating margin(1)% 1 % 0 % 1 % GAAP net loss$(28,918) $(14,346) $(98,849) $(53,...