Rapid7 Q2 2024 Earnings Report
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.
Rapid7
Rapid7
Rapid7 Revenue by Segment
Rapid7 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