Business
Rapid7 Announces First Quarter 2021 Financial Results
Annualized recurring revenue (ARR) of $455.8 million, an increase of 30% year-over-yearRevenue of $117.5 million, up 24% year-over-year; Products revenue of
About this update from Rapid7, Inc.
Annualized recurring revenue (ARR) of $455.8 million, an increase of 30% year-over-yearRevenue of $117.5 million, up 24% year-over-year; Products revenue of $109.3 million, up 25% year-over-yearTotal customer growth of 11% year-over-yearTotal ARR per customer growth of 17% year-over-year BOSTON, May 06, 2021 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leading provider of security analytics and automation, today announced its financial results for the first quarter of 2021. "Rapid7 delivered a strong start to 2021 as we accelerated year-over-year ARR growth to 30% while demonstrating strong free cash flow dynamics in our business. These results are a great validation of the vision we laid out at our recent Investor Day as we work to deliver industry-leading capabilities coupled with our unique focus on world-class accessibility," said Corey Thomas, Chairman and CEO of Rapid7. "Looking ahead we remain focused on executing against our goal of delivering best-in-class security that meets customers where they are in their SecOps journey to help them close their security achievement gap." First Quarter 2021 Financial Results and Other Metrics Three Months Ended March 31, 2021 2020 % Change (dollars in thousands)Annualized recurring revenue$455,797 $350,884 30%Number of customers (1) 8,945 8,075 11%ARR per customer (1)$51.0 $43.5 17%(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 the modified definition. Three Months Ended March 31, 2021 2020 % Change (in thousands, except per share data)Products revenue$109,285 $87,549 25%Professional services revenue8,166 6,791 20%Total revenue$117,451 $94,340 24% North America revenue$96,403 $78,705 22%Rest of world revenue21,048 15,635 35%Total revenue$117,451 $94,340 24% GAAP gross profit$81,162 $66,626 GAAP gross margin69 % 71 % Non-GAAP gross profit$85,457 $69,215 Non-GAAP gross margin73 % 73 % GAAP loss from operations$(23,116) $(19,820) GAAP operating margin(20)% (21)% Non-GAAP income (loss) from operations$1,906 $(3,933) Non-GAAP operating margin2 % (4)% GAAP net loss$(29,845) $(22,924) GAAP net loss per share, basic and diluted$(0.56) $(0.46) Non-GAAP net loss$(1,425) $(4,294) Non-GAAP net loss per share, basic and diluted$(0.03) $(0.09) Adjusted EBITDA$5,757...