Rapid7, Inc. develops AI-powered managed cybersecurity operations software and services centered on the Rapid7 Command Platform. Company news commonly covers managed detection and response, exposure management, security information and event management, cloud security capabilities, threat intelligence research from Rapid7 Labs, and updates to products such as Exposure Command.
Recurring developments also include quarterly financial results, annualized recurring revenue and subscription revenue trends, investor conference participation, equity compensation grants, and completed acquisitions that extend Rapid7’s security operations technology, including the acquisition of Kenzo Security.
Rapid7 (NASDAQ: RPD) announced it will release its second quarter 2021 financial results on August 4, 2021, after market close. A conference call to discuss the results and business outlook will be held at 4:30 p.m. ET that same day. The call can be accessed by phone or via live webcast on the company's investor relations website. A replay will also be available for a limited time. Rapid7 leverages analytics and automation to enhance security for over 8,900 customers.
Rapid7 (NASDAQ: RPD) has launched InsightCloudSec, a Cloud-Native Security Platform (CNSP) that integrates key security features like cloud security posture management and Kubernetes protection. This platform responds to the growing demand for comprehensive cloud security as organizations increasingly migrate to cloud solutions, with over 45% of IT spending projected to shift by 2024, according to Gartner. InsightCloudSec aims to streamline security operations, enhance compliance, and automate workflows, ultimately allowing security teams to focus on critical tasks in complex environments.
Rapid7 (NASDAQ: RPD) has been recognized as a Leader in the Gartner 2021 Magic Quadrant for Security Information and Event Management (SIEM) for the second consecutive year. This accolade highlights the effectiveness of their InsightIDR solution, which aids organizations in managing evolving security challenges amidst growing attack surfaces and limited resources. InsightIDR offers capabilities such as simplified SecOps, enhanced visibility across IT environments, actionable alerts, and accelerated incident response to empower security teams. The recognition reinforces Rapid7's commitment to delivering innovative security solutions.
BOSTON, June 01, 2021 – Rapid7 (NASDAQ: RPD) announced its participation in two upcoming virtual conferences. The company will present at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 1:40 p.m. ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 2:00 p.m. ET. Live webcasts will be available, with replays on the company’s investor relations website. Rapid7, a leader in security analytics and automation, serves over 8,900 customers, enhancing security outcomes through its Insight cloud.
Rapid7 (NASDAQ: RPD) has been recognized as a Visionary by Gartner in its 2021 Magic Quadrant for Application Security Testing. The company was acknowledged for its completeness of vision and execution capabilities amidst increasing complexities in application environments. Rapid7’s portfolio, which includes tools like tCell RASP and InsightAppSec, aims to deliver enhanced security insights throughout the software delivery lifecycle. The recognition underscores the growing demand for robust application security solutions as businesses adapt to modern development practices.
Rapid7 reported a strong Q1 2021, achieving annualized recurring revenue (ARR) of $455.8 million, a 30% year-over-year increase. Total revenue reached $117.5 million, reflecting a 24% year-over-year growth. Products revenue also grew by 25% to $109.3 million. The company added 11% more customers, totaling 8,945 and improved ARR per customer by 17%. Despite net losses of $29.8 million, Rapid7's free cash flow improved significantly to $17.9 million. Looking ahead, the company maintains positive guidance for revenue growth.
Rapid7 (NASDAQ: RPD) announced the acquisition of Velociraptor, enhancing its digital forensics and incident response capabilities. Velociraptor is known for its open-source technology used in endpoint monitoring and forensics. The acquisition aims to foster Velociraptor's community-driven approach, allowing custom queries for threat detection and knowledge sharing among professionals. Despite the strategic significance, the acquisition is not expected to materially impact Rapid7's financial results for 2021.
Rapid7, Inc. (NASDAQ: RPD) announced the release of its first quarter 2021 financial results on May 6, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results and the company’s business outlook. Investors can join the call via telephone or listen to a live webcast on the Rapid7 website. A replay will be available for a limited time after the call, ensuring access to critical financial information.
Rapid7 (NASDAQ: RPD) has been recognized as a Strong Performer in Forrester Research's The Forrester Wave™: Managed Detection and Response Providers, Q1 2021. Among 15 evaluated service providers, Rapid7's offering was assessed based on 19 criteria, highlighting its commitment to addressing the growing demands of security in an increasingly complex digital environment. With organizations facing budget constraints for internal security resources, Rapid7's Managed Detection and Response (MDR) services help clients enhance their security posture and effectively manage threats.
Rapid7 announced the pricing of $525 million in 0.25% convertible senior notes due 2027, up from a previous offering of $500 million. The notes will convert into cash, shares, or a mix, with an initial conversion price of about $103.38 per share—a 30% premium. With net proceeds estimated at $511.8 million, Rapid7 plans to repurchase approximately $182.6 million of its 1.25% Convertible Senior Notes due 2023. The remaining funds will support corporate purposes and potential acquisitions. The sale is set to close on March 19, 2021, pending customary conditions.