Business
Rapid7 Announces Second Quarter 2022 Financial Results
Annualized recurring revenue (ARR) of $658 million, an increase of 35% year-over-yearTotal revenue of $167 million, up 32% year-over-year; Products revenue of
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $658 million, an increase of 35% year-over-yearTotal revenue of $167 million, up 32% year-over-year; Products revenue of $159 million, up 34% year-over-yearTotal ARR per customer growth of 18% year-over-yearTotal customer growth of 14% year-over-year BOSTON, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leading provider of security analytics and automation, today announced its financial results for the second quarter of 2022. “Robust customer demand for our security transformation solutions drove second quarter ending ARR of $658 million, representing growth of 35% year-over-year,” said Corey Thomas, Chairman and CEO of Rapid7. “As customers prioritize spending around their modern cloud environments, Rapid7 continues to address their most urgent security challenges with our market leading Insight platform. In the current environment, there is a significant opportunity for consolidation across security operations from both a capability and economic standpoint, and our differentiated solutions are positioned to enable customers to accelerate that process while driving profitable, sustainable growth for Rapid7.” Second Quarter 2022 Financial Results and Other Metrics Three Months Ended June 30, 2022 2021 % Change (dollars in thousands)Annualized recurring revenue$658,172 $488,860 35%Number of customers 10,624 9,315 14%ARR per customer$62.0 $52.5 18% Three Months Ended June 30, 2022 2021 % Change (in thousands, except per share data)Products revenue$159,122 $119,147 34%Professional services revenue 8,333 7,274 15%Total revenue$167,455 $126,421 32% North America revenue$132,646 $103,485 28%Rest of world revenue 34,809 22,936 52%Total revenue$167,455 $126,421 32% GAAP gross profit$113,180 $87,113 GAAP gross margin 68% 69% Non-GAAP gross profit$120,799 $91,845 Non-GAAP gross margin 72% 73% GAAP loss from operations$(34,651) $(21,926) GAAP operating margin(21)% (17)% Non-GAAP income from operations$3,483 $6,070 Non-GAAP operating margin 2% 5% GAAP net loss$(39,606) $(34,164) GAAP net loss per share, basic and diluted$(0.68) $(0.62) Non-GAAP net (loss) income$(461) $3,930 Non-GAAP net (loss) income per share, basic and diluted$(0.01) $0.07 Adjusted EBITDA$7,983 $10,030 Net cash provided by operating activities$7,449 $9,186 Free cash flow$(1,258) $5,040 For additional details on the ...