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Mar 31, 2022
Rapid7 Q1 2022 Earnings Report
Rapid7's financial performance was driven by momentum across security transformation and vulnerability management solutions, with sustained ARR growth.
Key Takeaways
Rapid7 announced strong first quarter results, driven by demand for its security operations platform. The company sustained year-over-year ARR growth of 38% and generated positive free cash flow.
Annualized recurring revenue (ARR) reached $627 million, a 38% increase year-over-year.
Total revenue was $157 million, up 34% year-over-year.
Products revenue was $149 million, up 36% year-over-year.
Total customer growth was 16% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Rapid7 anticipates annualized recurring revenue, revenue, non-GAAP income from operations, non-GAAP net (loss) income per share and free cash flow to be in the following ranges:
Positive Outlook
- Second Quarter 2022 Annualized recurring revenue $740 to $750 million
- Second Quarter 2022 Revenue $163 to $165 million
- Second Quarter 2022 Non-GAAP income from operations $0 to $2 million
- Second Quarter 2022 Free cash flow $40 to $45 million
- Full-Year 2022 Revenue $686 to $692 million
Challenges Ahead
- Second Quarter 2022 Year-over-year ARR growth 24% to 25%
- Second Quarter 2022 Year-over-year Revenue growth 29% to 31%
- Second Quarter 2022 Non-GAAP net (loss) income per share $(0.07) to $(0.03)
- Full-Year 2022 Year-over-year Revenue growth 28% to 29%
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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