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Sep 30, 2024
Rapid7 Q3 2024 Earnings Report
Rapid7's Q3 2024 financial results were announced, demonstrating growth in key business areas and exceeding guided ranges for revenue and operating income.
Key Takeaways
Rapid7 announced positive momentum in Q3 2024, with revenue and operating income exceeding guided ranges. The company saw growth in its threat detection and response business and strong demand for its consolidated offerings. ARR increased by 6% year-over-year to $823 million, and total revenue grew by 8% to $215 million.
Annualized recurring revenue (ARR) reached $823 million, a 6% increase year-over-year.
Total revenue was $215 million, up 8% year-over-year, with product subscriptions revenue of $206 million, also up 8%.
GAAP operating income was $14 million, while non-GAAP operating income was $44 million.
Net cash provided by operating activities was $44 million, and free cash flow was $39 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Rapid7 anticipates for the fourth quarter of 2024, annualized recurring revenue between $835 million and $845 million, revenue between $211 million and $213 million, non-GAAP income from operations between $33 million and $35 million, non-GAAP net income per share between $0.48 and $0.51, and free cash flow between $145 million and $155 million. For the full year 2024, Rapid7 anticipates revenue between $839 million and $841 million, non-GAAP income from operations between $157 million and $159 million and non-GAAP net income per share between $2.28 and $2.31.
Positive Outlook
- Annualized recurring revenue between $835 million and $845 million.
- Revenue between $211 million and $213 million.
- Non-GAAP income from operations between $33 million and $35 million.
- Non-GAAP net income per share between $0.48 and $0.51.
- Free cash flow between $145 million and $155 million.
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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