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Jun 30, 2023
Rapid7 Q2 2023 Earnings Report
Rapid7's Q2 2023 results were announced, featuring strong ARR growth and exceeding revenue and non-GAAP operating income guidance.
Key Takeaways
Rapid7 announced strong second quarter results with ARR of $751 million. Revenue and Non-GAAP operating income exceeded guidance ranges. The company also announced a restructuring plan to accelerate investments in integrated security solutions.
Annualized recurring revenue (ARR) reached $751 million, a 14% increase year-over-year.
Total revenue was $190 million, up 14% year-over-year, with products revenue at $182 million, also up 14% year-over-year.
GAAP operating loss was $52 million, while non-GAAP operating income was $13 million.
GAAP operating cash flow was $31 million, and free cash flow was $26 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Rapid7 anticipates annualized recurring revenue, revenue, non-GAAP income from operations, non-GAAP net income per share and free cash flow to be in the following ranges: Third Quarter 2023Full-Year 2023(in millions, except per share data)Annualized recurring revenue$800to$805Year-over-year growth12%to13%Revenue$196to$198$771to$775Year-over-year growth12%to13%13%Non-GAAP income from operations$29to$31$86to$90Non-GAAP net income per share$0.41to$0.44$1.23to$1.29Weighted average shares outstanding71.767.5Free cash flowApproximately $80
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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