---
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"
generated_at: "2026-06-12T01:51:55.923010+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Rapid7 Q2 beats guidance; plans 18% workforce reduction and $24-32M restructuring charges

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001560327-23-000058
- JSON: https://secwatch.observer/filing/0001560327-23-000058.json
- Plain text: https://secwatch.observer/filing/0001560327-23-000058.txt

## Key facts
- Earnings Releases
  Rapid7, Inc. reported the second quarter of 2023 results: revenue $190,422, net income $(66,782), EPS $(1.10). Guidance lowered.
  - Period: the second quarter of 2023
  - Revenue: $190,422
  - Net income: $(66,782)
  - EPS: $(1.10)
  - Guidance: lowered
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm
- Restructurings & Charges
  Rapid7, Inc. announced a restructuring with charges of approximately $24-$32 million affecting company-wide (approximately 18%).
  - Type: restructuring
  - Charge: approximately $24-$32 million
  - Affected area: company-wide
  - Headcount: approximately 18%
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm
- Restructurings & Charges
  Rapid7, Inc. announced a impairment with charges of approximately $4 million affecting certain office locations.
  - Type: impairment
  - Charge: approximately $4 million
  - Affected area: certain office locations
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.