secwatch.observer — SEC 8-K summary
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Issuer:     Rapid7, Inc. (RPD)
CIK:        0001560327
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001560327-24-000048
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560327/000156032724000048/0001560327-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560327/000156032724000048/rp-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001560327-24-000048

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