Business
Rapid7 Announces Second Quarter 2020 Financial Results
Annualized recurring revenue (ARR) of $379.9 million, an increase of 31% year-over-yearRevenue of $98.9 million, 25% year-over-year growth; Products revenue
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $379.9 million, an increase of 31% year-over-yearRevenue of $98.9 million, 25% year-over-year growth; Products revenue of $92.4 million, 27% year-over-year growthTotal ARR per customer growth of 20% year-over-yearGAAP operating loss of $(15.7) million; Non-GAAP operating income of $4.3 million BOSTON, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leading provider of security analytics and automation, today announced its financial results for the second quarter of 2020.\n \"Rapid7's solid execution drove results that exceeded expectations for both growth and profitability during the second quarter. Strong ARR per customer growth of 20% drove quarter ending ARR to $379.9 million as customers turn to Rapid7 to transform their security programs in these dynamic times, while non-GAAP operating income of $4.3 million reflects underlying leverage in our business,\" said Corey Thomas, Chairman and CEO of Rapid7. \"Even amidst an uncertain landscape, our consistent first half execution provides us confidence in raising full year guidance and achieving non-GAAP operating profit for the full year.\" Board of Directors Announcement Rapid7 is pleased to announce the appointment of Reeny Sondhi to its board of directors, effective August 4, 2020. Ms. Sondhi has served as the Chief Security Officer of Autodesk, Inc. since July 2018. Previously, she was Autodesk’s Vice President, Chief of Product and Cloud Security from August 2015 to July 2018. \"We are privileged to have Reeny join the Rapid7 board,\" said Corey Thomas, Chairman and CEO of Rapid7. \"Reeny is an accomplished technology leader with deep expertise across cloud and security, and she brings the perspective of our customers to the boardroom.\" Prior to joining Autodesk, from March 2005 to August 2015, Ms. Sondhi was employed by EMC Corporation where she served most recently as Senior Director, Security Engineering and Assurance. Ms. Sondhi holds a B.S. in electronics engineering from Government Engineering College, Bhopal and a post graduate diploma in management from Institute of Management Development and Research. Second Quarter 2020 Financial Results and Other Metrics Three Months Ended June 30, 2020 2019 % Change (dollars in thousands)Annualized recurring revenue$379,891 $290,016 31 %Number of customers9,142 8,400 9 %ARR ...