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Dec 31, 2023
Rapid7 Q4 2023 Earnings Report
Rapid7's Q4 2023 financial results were announced, showcasing growth in ARR and revenue, exceeding guided ranges, and a focus on platform and services investments for long-term growth.
Key Takeaways
Rapid7 announced solid Q4 2023 results, exceeding guided ranges for ARR, revenue, non-GAAP operating income, and free cash flow. The company is focused on platform and services investments to enhance customer experience and drive long-term growth.
Annualized recurring revenue (ARR) reached $806 million, a 13% year-over-year increase.
Total revenue was $205.3 million, up 11% year-over-year.
GAAP income from operations was $10.9 million, compared to a loss of $13.3 million in the same quarter last year.
Free cash flow was $60.3 million, compared to $28.5 million in the same quarter last 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 between $885 million and $895 million, revenue between $203 million and $205 million, non-GAAP income from operations between $37 million and $39 million, non-GAAP net income per share between $0.52 and $0.55 for Q1 2024. For the full year 2024, the company expects revenue between $848 million and $856 million, non-GAAP income from operations between $150 million and $158 million, non-GAAP net income per share between $2.10 and $2.21 and at least $160 million in free cash flow.
Positive Outlook
- Annualized recurring revenue is expected to grow 10% to 11% year-over-year in Q1 2024.
- Revenue is projected to increase by 11% to 12% in Q1 2024.
- Non-GAAP income from operations is forecasted between $37 million and $39 million for Q1 2024.
- Non-GAAP net income per share is anticipated to be between $0.52 and $0.55 for Q1 2024.
- The company projects at least $160 million in free cash flow for the full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income