Loading...
•
Mar 31, 2021
Rapid7 Q1 2021 Earnings Report
Rapid7 reported strong financial results for Q1 2021, demonstrating accelerated ARR growth and strong free cash flow dynamics.
Key Takeaways
Rapid7 announced a strong start to 2021 with a 30% year-over-year increase in ARR and solid free cash flow. The company's Q1 revenue reached $117.5 million, a 24% increase year-over-year, driven by a 25% increase in product revenue. Rapid7 is focused on delivering best-in-class security solutions to meet customers' evolving needs.
ARR increased by 30% year-over-year, reaching $455.8 million.
Revenue increased by 24% year-over-year to $117.5 million.
Product revenue increased by 25% year-over-year to $109.3 million.
Customer growth increased by 11% year-over-year.
Rapid7
Rapid7
Rapid7 Revenue by Segment
Rapid7 Revenue by Geographic Location
Revenue by Segment
Professional Services Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Rapid7 anticipates ARR of approximately $530 million and revenue between $121.7 million and $123.3 million for the second quarter of 2021. For the full year 2021, Rapid7 anticipates revenue between $500.0 million and $506.0 million.
Positive Outlook
- Anticipated non-GAAP income from operations of $4.3 million to $5.3 million for Q2 2021.
- Anticipated non-GAAP net income per share of $0.02 to $0.03 for Q2 2021.
- Anticipated free cash flow of approximately $15.0 million for Q2 2021.
- Anticipated non-GAAP income from operations of $12.0 million to $16.0 million for the full year 2021.
- Anticipated non-GAAP net income (loss) per share of $(0.03) to $0.04 for the full year 2021.
Challenges Ahead
- Second quarter revenue year-over-year growth anticipated to be 23% to 25%.
- Full year revenue year-over-year growth anticipated to be 22% to 23%.
- Anticipated GAAP loss from operations between $(21.8) million and $(20.8) million for Q2 2021.
- Anticipated GAAP net loss between $(26.3) million and $(25.3) million for Q2 2021.
- Anticipated GAAP net loss per share, basic and diluted $(0.47) to $(0.46) for Q2 2021.