• Annualized recurring revenue ("ARR”) of $840 million, an increase of 4% year-over-year
  • Full-year revenue of $844 million, up 9% year-over-year; Product subscriptions revenue of $809 million, up 9% year-over-year
  • Full-year GAAP operating income of $35 million; Full-year non-GAAP operating income of $164 million
  • Full-year net cash provided by operating activities of $172 million; Free cash flow of $154 million
BOSTON, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Rapid7, Inc. (Nasdaq: RPD), a leader in extended risk and threat detection, today announced its financial results for the fourth quarter and full-year 2024.

"As we reflect on 2024, I'm proud of the progress we made to position Rapid7 for long-term growth and success. We achieved $840 million in ARR and delivered over $150 million in free cash flow, while advancing our strategic priorities to innovate, scale, and empower our customers to consolidate and secure their operations more effectively. Continued momentum in Managed Detection and Response and the launch of our Exposure Command platform have further strengthened our ability to deliver measurable value for customers,” said Corey Thomas, Chairman and CEO of Rapid7.

"As we move through 2025, our focus remains on accelerating growth, deepening customer engagement, and driving innovation to solidify Rapid7 as the security operations platform of choice for organizations worldwide.”

Fourth Quarter 2024 Financial Results and Other Metrics

 As of December 31,
  2024   2023  % Change
 (dollars in thousands)
ARR$839,819  $805,670   4%
Number of customers 11,727   11,526   2%
ARR per customer$71.6  $69.9   2%

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 Three Months Ended December 31, Year Ended December 31,
  2024   2023  % Change  2024   2023  % Change
 (in thousands, except per share data)
Product subscriptions revenue$206,328  $194,819   6% $808,906  $740,168   9%
Professional services revenue 9,933   10,449   (5%)  35,101   37,539   (6)%
Total revenue$216,261  $205,268   5% $844,007  $777,707   9%
            
North America revenue$163,014  $158,695   3% $643,405  $607,448   6%
Rest of world revenue 53,247   46,573   14%  200,602   170,259   18%
Total revenue$216,261  $205,268   5% $844,007  $777,707   9%
            
GAAP gross profit$150,369  $145,442    $592,972  $545,661   
GAAP gross margin 70%  71%    70%  70%  
Non-GAAP gross profit$157,902  $152,265    $622,343  $575,052   
Non-GAAP gross margin 73%  74%    74%  74%  
            
GAAP income (loss) from operations$7,279  $10,000    $35,035  $(84,288)  
GAAP operating margin 3%  5%    4%  (11)%  
Non-GAAP income from operations$39,995  $41,498    $163,508  $102,221   
Non-GAAP operating margin 18%  20%    19%  13%  
            
GAAP net income (loss)$2,172  $19,116    $25,526  $(152,815)  
GAAP net income (loss) per share, basic$0.03   0.31    $0.41  $(2.52)  
GAAP net income (loss) per share, diluted$0.03  $0.26    $0.40  $(2.52)  
Non-GAAP net income$34,342  $51,691    $163,138  $107,232   
Non-GAAP net income per share:           
Basic$0.54  $0.84    $2.61  $1.76   
Diluted$0.48  $0.72    $2.28  $1.52   
            
Adjusted EBITDA$46,310  $47,819    $188,450  $126,661   
            
Net cash provided by operating activities$63,773  $63,466    $171,670  $104,278   
Free cash flow$58,842  $60,254    $154,083  $84,034   
                    
For additional details on the reconciliation of non-GAAP measures and certain other business metrics to their nearest comparable GAAP measures, please refer to the accompanying financial data tables included in this press release. Certain prior periods reflect immaterial corrections. See Exhibit 1 for additional information.

Recent Business Highlights

  • In November, Rapid7 won "Security Vendor of the Year” at the CRN Chan