Business
Rapid7 Announces Second Quarter 2024 Financial Results
Annualized recurring revenue (“ARR”) of $816 million, an increase of 9% year-over-yearTotal revenue of $208 million, up 9% year-over-year; Product
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (“ARR”) of $816 million, an increase of 9% year-over-yearTotal revenue of $208 million, up 9% year-over-year; Product subscriptions revenue of $200 million, up 10% year-over-yearGAAP operating income of $7 million; non-GAAP operating income of $39 millionNet cash provided by operating activities of $33 million; free cash flow of $29 million BOSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leader in extended risk and threat detection, today announced its financial results for the second quarter of 2024. “Rapid7 delivered solid second quarter results in line with our expectations, growing ARR by 9% year-over-year to $816 million, and continuing to innovate to bring customers the strongest security operations data platform,” said Corey Thomas, Chairman and CEO of Rapid7. “Yesterday's introduction of the Command Platform is a terrific example of the progress we are making to bring customers comprehensive visibility to risks across their hybrid attack surface. We are laser-focused on supporting customers and this new offering builds on our strategic vision to help customers integrate their critical security data to close security gaps and prevent attacks.” Second Quarter 2024 Financial Results and Other Metrics Three Months Ended June 30, 2024 2023 % Change (dollars in thousands, except for customer data)Annualized recurring revenue$815,630 $750,850 9%Number of customers 11,484 11,287 2%ARR per customer$71.0 $66.5 7% Three Months Ended June 30, 2024 2023 % Change (in thousands, except per share data)Product subscriptions revenue$200,067 $181,701 10%Professional services revenue 7,924 8,721 (9%)Total revenue$207,991 $190,422 9% North America revenue$159,322 $149,683 6%Rest of world revenue 48,669 40,739 19%Total revenue$207,991 $190,422 9% GAAP gross profit$147,143 $132,258 GAAP gross margin 71% 69% Non-GAAP gross profit$154,281 $140,085 Non-GAAP gross margin 74% 74% GAAP income (loss) from operations$6,880 $(51,659) GAAP operating margin 3% (27)% Non-GAAP income from operations$39,276 $12,957 Non-GAAP operating margin 19% 7% GAAP net income (loss)$8,195 $(66,782) GAAP net income (loss) per share, basic$0.13 $(1.10) GAAP net income (loss) per share, diluted$0.11 $(1.10) Non-GAAP net income$41,646 $11,520 Non-GAAP net income per share: Basic$0.67 $0.19 Diluted$0.58 $0.18 Adjusted EBIT...