{"schema_version":"secwatch.filing_event.v1","accession":"0001560327-23-000058","form_type":"8-K","ticker":"RPD","cik":"0001560327","company_name":"Rapid7, Inc.","filed_at":"2023-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.302560+00:00","generated_at":"2026-06-12T01:51:55.923010+00:00","sec_items":["2.02","2.05","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Rapid7 Q2 beats guidance; plans 18% workforce reduction and $24-32M restructuring charges","bullets":["Q2 total revenue $190M (+14% YoY); ARR $751M (+14%); non-GAAP operating income $13M beat guidance.","GAAP net loss $66.8M ($1.10 per share); non-GAAP net income $11.5M ($0.18 diluted EPS).","Restructuring approved Aug 7: ~18% workforce cut; expects $24-32M charges ($22-30M cash) in H2 2023.","Office closures will result in ~$4M impairment loss in 2023.","Q3 guidance: revenue $196-198M, non-GAAP EPS $0.41-0.44; FY free cash flow ~$80M."],"urls":{"canonical":"https://secwatch.observer/filing/0001560327-23-000058","json":"https://secwatch.observer/filing/0001560327-23-000058.json","markdown":"https://secwatch.observer/filing/0001560327-23-000058.md","text":"https://secwatch.observer/filing/0001560327-23-000058.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/rp-20230807.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T01:51:55.923010+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"32dd97ac9a5bef528240d5f40651eb21b7e30061","claim":"Rapid7, Inc. reported the second quarter of 2023 results: revenue $190,422, net income $(66,782), EPS $(1.10). Guidance lowered.","evidence_excerpt":"Ended June 30, 2023 2022 % Change (in thousands, except per share data) Products revenue $ 181,701 $ 159,122 14 % Professional services revenue 8,721 8,333 5 % Total revenue $ 190,422 $ 167,455 14 % North America revenue $ 149,683 $ 132,646 13 % Rest of world revenue 40,739 34,809 17 % Total revenue $ 190,422 $ 167,455 14 % GAAP gross profit $ 132,258 $ 113,180","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the second quarter of 2023"},{"label":"Revenue","value":"$190,422"},{"label":"Net income","value":"$(66,782)"},{"label":"EPS","value":"$(1.10)"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"cf85e2355c27a1fa6ca7979198676965165e777b","claim":"Rapid7, Inc. announced a restructuring with charges of approximately $24-$32 million affecting company-wide (approximately 18%).","evidence_excerpt":"the “ Restructuring Plan ”). The Restructuring Plan includes reduction of the Company’s workforce by approximately 18%. The Company estimates that it will incur approximately $24-$32 million in charges in connection with the Restructuring Plan, consisting of cash expenditures for employee transition, notice period and severance payments and employee","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $24-$32 million"},{"label":"Affected area","value":"company-wide"},{"label":"Headcount","value":"approximately 18%"}],"fact_type":"restructuring_charge"},{"claim_id":"fa548a9f54f631611a70c42f56b55524b75b5ee3","claim":"Rapid7, Inc. announced a impairment with charges of approximately $4 million affecting certain office locations.","evidence_excerpt":"In connection with the Restructuring Plan, the Company plans to permanently close certain office locations. This will result in an impairment loss of approximately $4 million that will be recorded during 2023 as the exit activities are finalized in each location.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"impairment"},{"label":"Charge","value":"approximately $4 million"},{"label":"Affected area","value":"certain office locations"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}