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Jun 30, 2021
Rapid7 Q2 2021 Earnings Report
Rapid7's Insight Platform drove strong demand, resulting in significant ARR growth and strategic acquisition.
Key Takeaways
Rapid7 announced strong second-quarter results, with revenue up 28% year-over-year and ARR growing by 29%. The acquisition of IntSights was completed in July, enhancing the Insight Platform's threat intelligence capabilities. The company also provided guidance for the third quarter and full year, including contributions from the IntSights acquisition.
ARR reached $488.9 million, a 29% increase year-over-year.
Revenue totaled $126.4 million, up 28% year-over-year.
Product revenue grew by 29% year-over-year, reaching $119.1 million.
Total customers increased by 13% year-over-year.
Rapid7
Rapid7
Rapid7 Revenue by Segment
Rapid7 Revenue by Geographic Location
Revenue by Segment
Product Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Rapid7 anticipates annualized recurring revenue to be approximately $576.0 million. Revenue is expected to be between $133.4 to $135.0 million. Free cash flow is expected to be approximately $20.0 million.
Positive Outlook
- Annualized recurring revenue approximately $576.0 million
- Revenue $133.4 to $135.0 million
- Year-over-year growth 27 %to28 %
- Free cash flow Approximately $20.0 million
Challenges Ahead
- Non-GAAP (loss) income from operations $(0.5) million
- Non-GAAP net loss per share $(0.07)
- Weighted average shares outstanding, basic and diluted 56.1
Revenue & Expenses
Visualization of income flow from segment revenue to net income