Rapid7 Q2 revenue down 1.5% YoY to $210.9M; ARR slips 2%; cuts 12% staff

Rapid7, Inc.

Q2 revenue $210.9M (-1.5% YoY); product revenue $205.1M; ARR $824.0M (-2.0% YoY).
GAAP EPS $0.09; non-GAAP EPS $0.44; non-GAAP operating income $28.9M.
Restructuring: ~12% workforce reduction, $10-11M charges expected in Q3/Q4 2026.
Q3 guidance: revenue $208-210M, ARR ~$812M; FY revenue $837-841M, non-GAAP EPS $1.78-1.83.
Cash and securities $702.6M; operating cash flow $37M; free cash flow $31.9M.

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