Business
Rapid7 Announces Third Quarter 2021 Financial Results
Annualized recurring revenue (ARR) of $550.0 million, an increase of 38% year-over-yearRevenue of $139.9 million, up 33% year-over-year; Products revenue of
About this update from Rapid7, Inc.
[{"type":"text","content":"Annualized recurring revenue (ARR) of $550.0 million, an increase of 38% year-over-yearRevenue of $139.9 million, up 33% year-over-year; Products revenue of $131.1 million, up 33% year-over-yearTotal customer growth of 17% year-over-yearTotal ARR per customer growth of 18% year-over-year BOSTON, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leading provider of security analytics and automation, today announced its financial results for the third quarter of 2021. “Rapid7 delivered milestone results during the third quarter as we ended the period with $550 million in ARR, growth of 38% over the prior year. This performance was driven by accelerating demand for our security transformation solutions and sustained growth in vulnerability management, coupled with our recent acquisition of IntSights,” said Corey Thomas, Chairman and CEO of Rapid7. “We remain focused on helping customers navigate an increasingly complex security landscape with an expanding set of capabilities on our Insight Platform, and have been pleased with the early customer reception to our recent addition of threat intelligence capabilities. Our third quarter results clearly demonstrate how we are delivering on our customer mission while executing against our dual mandate to drive durable growth while expanding profitability and free cash flow over time.” Third Quarter 2021 Financial Results and Other Metrics Three Months Ended September 30, 2021 2020 % Change (dollars in thousands)Annualized recurring revenue$550,044 $398,725 38%Number of customers (1) 9,909 8,442 17%ARR per customer (1)$55.5 $47.2 18%(1) Number of customers and ARR per customer are based on our new customer count methodology provided at our virtual investor day on March 10, 2021. Prior period amounts have been revised to conform with these modified definitions, which are also provided in the Non-GAAP Financial Measures and Other Metrics section below. Three Months Ended September 30, 2021 2020 % Change (in thousands, except per share data)Products revenue$131,149 $98,559 33%Professional services revenue8,745 6,516 34%Total revenue$139,894 $105,075 33% North America revenue$112,337 $87,612 28%Rest of world revenue27,557 17,463 58%Total revenue$139,894 $105,075 33% GAAP gross profit$96,424 $74,047 GAAP gross margin69 % 70 % Non-GAAP gross profit$102,838 $77,613 Non-GAAP gross mar...