secwatch.observer — SEC 8-K summary
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Issuer:     Rapid7, Inc. (RPD)
CIK:        0001560327
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001560327-23-000058
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/0001560327-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560327/000156032723000058/rp-20230807.htm
  HTML page:      https://secwatch.observer/filing/0001560327-23-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer