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Mar 31, 2024
Rapid7 Q1 2024 Earnings Report
Rapid7's Q1 2024 results reflect solid profitability and progress in threat detection and response solutions, despite ARR being below expectations due to a slower shift to the integrated risk offering.
Key Takeaways
Rapid7 announced its Q1 2024 financial results, featuring a 12% increase in total revenue to $205 million and an 11% rise in ARR to $807 million. The company's GAAP operating income was $11 million, with a non-GAAP operating income of $40 million. Free cash flow was reported at $28 million. The company reiterates its Free Cash Flow outlook of at least $160 million for the full year.
ARR increased by 11% year-over-year, reaching $807 million.
Total revenue grew by 12% year-over-year to $205 million.
Product subscriptions revenue increased by 13% year-over-year to $197 million.
GAAP operating income was $11 million; non-GAAP operating income was $40 million.
Revenue by Segment
Forward Guidance
Rapid7 anticipates ARR between $850 million and $860 million, and revenue between $203 million and $205 million for Q2 2024. The company projects ARR between $850 million and $860 million, and revenue between $830 million and $836 million for the full year 2024.
Positive Outlook
- Anticipated non-GAAP income from operations between $35 million and $37 million for Q2 2024.
- Anticipated non-GAAP net income per share between $0.50 and $0.53 for Q2 2024.
- Weighted average shares outstanding of 74.6 million for Q2 2024.
- Anticipated non-GAAP income from operations between $150 million and $158 million for the full year 2024.
- Anticipated non-GAAP net income per share between $2.10 and $2.21 for the full year 2024.
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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