Rapid7 Q1 ARR of $807M misses expectations; revenue up 12% to $205M

Rapid7, Inc.

2024-Q1 EPS reported $0.03 revenue$205,101,000

ARR of $807M (+11% YoY) below expectations due to slower migration to Cloud Risk Complete.
Total revenue $205M (+12% YoY); product subscriptions $197M (+13%), professional services $8.2M (-13%).
GAAP operating income $10.6M (5% margin) vs. GAAP loss of $24.0M in Q1 2023; non-GAAP operating income $40.3M (20% margin).
Free cash flow $27.5M; management reaffirms FY 2024 FCF outlook of at least $160M.
Q2 2024 guidance: ARR $850-860M (+6-7% YoY); full-year revenue $830-836M, non-GAAP EPS $2.10-$2.21.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Rapid7, Inc. reported the fiscal quarter ended March 31, 2024 results: revenue $205,101, net income $2,258, EPS $0.04.

Period: the fiscal quarter ended March 31, 2024
Revenue: $205,101
Net income: $2,258
EPS: $0.04
Result: reported results

Exact text from the filing

2024 2023 % Change (in thousands, except per share data) Product subscriptions revenue $ 196,918 $ 173,772 13 % Professional services revenue 8,183 9,402 (13 %) Total revenue $ 205,101 $ 183,174 12 % North America revenue $ 157,340 $ 143,880 9 % Rest of world revenue 47,761 39,294 22 % Total revenue $ 205,101 $ 183,174 12 % GAAP gross profit $ 144,198 $ 127,175

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Source: SEC EDGAR

accession 0001560327-24-000048

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