Business
Rapid7 Announces Third Quarter 2019 Financial Results
Annualized recurring revenue (ARR) of $310.2 million, an increase of 43% year-over-yearRevenue of $83.2 million, 33% year-over-year growth and customer growth
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $310.2 million, an increase of 43% year-over-yearRevenue of $83.2 million, 33% year-over-year growth and customer growth of 17% year-over-yearRaising 2019 revenue growth guidance to 32% to 33%Raising 2019 non-GAAP operating income guidance to $0 to $1 million BOSTON, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leading provider of security analytics and automation, today announced its financial results for the third quarter of 2019.\n \"Rapid7 had a great third quarter. Our results reflect a good demand environment, great expense control and excellent execution across the board. With a strong focus on product innovation and a well-diversified product portfolio, we see a large opportunity in front of us and are well positioned for future growth. As a result, we are raising our total revenue and non-GAAP operating income guidance for the full-year 2019,\" said Corey Thomas, Chairman and CEO of Rapid7. Third Quarter 2019 Financial Results and Other Metrics Three Months Ended September 30, 2019 2018 % Change (dollars in thousands)Annualized recurring revenue $310,184 $217,415 43%Number of customers 8,625 7,399 17%ARR per customer $36.0 $29.4 22%Recurring revenue as a percentage of total revenue 88% 82% Renewal rate* 111% 118% *For the three months ended September 30, 2018, our renewal rate was adjusted from 120%, as previously disclosed, to 118% based on a reclassification of certain upsells and cross-sells. Three Months Ended September 30, 2019 2018 % Change (in thousands, except per share data)Products revenue$67,298 $43,829 54%Maintenance and support revenue 9,178 10,614 (14)%Professional services revenue 6,679 7,922 (16)%Total revenue $83,155 $62,365 33% North America revenue $69,883 $53,232 31%Rest of world revenue 13,272 9,133 45%Total revenue $83,155 $62,365 GAAP gross profit $59,525 $44,555 GAAP gross margin 72% 71% Non-GAAP gross profit $61,865 $45,934 Non-GAAP gross margin 74% 74% GAAP loss from operations $(11,756) $(11,301) GAAP operating margin (14)% (18)% Non-GAAP income (loss) from operations $542 $(2,822) Non-GAAP operating margin 1% (5)% GAAP net loss $(14,406) $(11,831) GAAP net loss per share, basic and diluted $(0.29) $(0.25) Non-GAAP net income (loss) $571 $(2,056) Non-GAAP net income (loss) per share, basic $0.01 $(0.04) Non-GAAP net income (loss) per sha...