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Jun 30, 2024
Rapid7 Q2 2024 Earnings Report
Solid results delivered in line with expectations, with continued innovation in security operations data platform.
Key Takeaways
Rapid7 announced its Q2 2024 financial results, reporting a 9% year-over-year increase in ARR to $816 million and total revenue of $208 million, also up 9% year-over-year. The company's GAAP operating income was $7 million, and non-GAAP operating income was $39 million. They also introduced the Command Platform, to bring customers comprehensive visibility to risks across their hybrid attack surface.
Annualized recurring revenue (ARR) reached $816 million, a 9% increase year-over-year.
Total revenue grew to $208 million, up 9% year-over-year, with product subscriptions revenue at $200 million, up 10% year-over-year.
GAAP operating income was $7 million, while non-GAAP operating income was $39 million.
Net cash from operating activities was $33 million, and free cash flow was $29 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 2024Full-Year 2024(in millions, except per share data)Annualized recurring revenue$850to$860Year-over-year growth6%to7%Revenue$209to$211$833to$837Year-over-year growth5%to6%7%to8%Non-GAAP income from operations$36to$38$152to$156Non-GAAP net income per share$0.50to$0.53$2.15to$2.20Weighted average shares outstanding74.974.7Free cash flow$150to$160
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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