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Mar 31, 2020
Rapid7 Q1 2020 Earnings Report
Rapid7 had a solid start to 2020, exceeding revenue guidance and strengthening the balance sheet.
Key Takeaways
Rapid7 announced its Q1 2020 financial results, reporting revenue of $94.3 million, a 29% year-over-year increase. The company's ARR grew by 31% year-over-year to $350.9 million. They exceeded the high end of their guidance range for the first quarter with revenue of $94.3 million and non-GAAP loss from operations of $(3.9) million.
ARR of $350.9 million, a 31% increase year-over-year.
Revenue of $94.3 million, a 29% increase year-over-year, with a 90% recurring revenue mix.
Total customer growth of 14% year-over-year.
Products revenue of $87.5 million, a 33% year-over-year increase.
Revenue by Segment
Forward Guidance
Rapid7 anticipates annualized recurring revenue, revenue, non-GAAP income (loss) from operations, and non-GAAP net (loss) income per share to be in the following ranges for Q2 2020: ARR of $387.0 to $407.0 million, Revenue of $94.6 to $96.2 million, Non-GAAP income (loss) from operations of $1.0 to $2.0 million, and Non-GAAP net (loss) income per share of $(0.02) to $0.00.
Positive Outlook
- Second Quarter 2020 Annualized recurring revenue between $387.0 to $407.0 million.
- Second Quarter 2020 revenue between $94.6 to $96.2 million.
- Second Quarter 2020 Non-GAAP income (loss) from operations between $1.0 to $2.0 million.
- Second Quarter 2020 Non-GAAP net (loss) income per share between $(0.02) to $0.00.
- Full-Year 2020 guidance includes the anticipated contribution from the acquisition of DivvyCloud as of May 1, 2020.
Challenges Ahead
- Guidance for the second quarter and full-year 2020 does not include any potential impact of foreign exchange gains or losses.
- Fluctuations in Rapid7’s quarterly operating results may be particularly pronounced in the current economic environment due to the uncertainty caused by the current COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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