Rapid7 Stock Price, News & Analysis

BOSTON, May 25, 2022 (GLOBE NEWSWIRE) -- Rapid7 (NASDAQ: RPD), a leader in security analytics and automation, will present at two upcoming conferences. The William Blair 42nd Annual Growth Stock Conference is scheduled for June 7, 2022, at 4:00 p.m. CT in Chicago, IL. The Baird 2022 Global Consumer, Technology & Services Conference follows on June 8, 2022, at 1:25 p.m. ET in New York, NY. Both presentations will be webcasts, with replays available on Rapid7's investor relations website.

DirectDefense has appointed Jared Ballou as Vice President of Business Development, based in San Diego, CA. His primary role will focus on driving strategic partnerships to enhance the company's growth strategy, following what has been its most profitable year to date in 2021. Ballou brings over 15 years of experience, having previously held leadership positions at ObserveIT and was a founding member at Rapid7, where he significantly contributed to revenue growth. DirectDefense aims to strengthen its position as a leading provider of managed security services.

Rapid7 reported a robust first quarter of 2022 with annualized recurring revenue (ARR) reaching $627 million, marking a 38% year-over-year increase. Total revenue hit $157 million, up 34%, driven by products revenue of $149 million (+36%). Customer base grew by 16% to 10,407, boosting ARR per customer by 18%. Despite a net loss of $44.999 million, the company generated positive free cash flow. For Q2, Rapid7 expects revenue growth of 29-31%.

Rapid7, Inc. (NASDAQ: RPD) has been named a Visionary by Gartner for the second consecutive year in the 2022 Magic Quadrant for Application Security Testing. This recognition highlights Rapid7’s ability to address the complexities of modern application security, emphasizing cross-functional collaboration among security, development, and operations teams. The company integrates its application security portfolio with its broader security operations platform to enhance vulnerability remediation and risk reduction. Rapid7 continues to expand its security solutions, partnering with Checkmarx and Snyk to secure applications during development.

Rapid7 (NASDAQ: RPD) announced it will release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call to discuss the results and business outlook is scheduled for the same day at 4:30 p.m. Eastern Time, accessible by phone and via webcast. The company provides security analytics and automation solutions, serving over 10,000 customers. For more details, visit their website.

Rapid7 has released its inaugural 2022 Social Good Report, detailing efforts in diversity, equity, and inclusion, cybersecurity advancements, philanthropy, environmental sustainability, and governance. The company emphasizes its commitment to social good, promoting inclusion in cybersecurity and community support. CEO Corey Thomas highlights the importance of transparency and accountability in creating a secure digital future. Rapid7 aims to connect everyone with powerful security technologies to enhance overall cybersecurity efforts.

Rapid7, Inc. (NASDAQ: RPD) has announced the formation of the Rapid7 Cybersecurity Foundation, with an initial funding of $1 million. The Foundation aims to close the cybersecurity achievement gap, focusing on diversity and inclusion in the tech workforce. Its strategic grants will support STEM education, open-source tools, and advocacy for vulnerable communities. Corey Thomas, CEO of Rapid7, emphasizes that this initiative is a continuation of their commitment to social good and cybersecurity for all.

Rapid7 (Nasdaq: RPD) announced strong results from the 2022 MITRE Engenuity ATT&CK Evaluation, where its InsightIDR and Insight Agent emulated the Wizard Spider and Sandworm threat groups. The evaluation demonstrated high-fidelity detections, consistent early threat detection capabilities, and substantial coverage across the ATT&CK framework, identifying telemetry and tactics in 18 of the 19 attack phases. This showcases InsightIDR's position as a leading cloud-based security solution, essential for businesses facing sophisticated cyber threats.

Rapid7 (NASDAQ: RPD) has announced new cloud workload protection capabilities for its InsightCloudSec platform. These enhancements include native vulnerability assessment for container and Kubernetes environments, designed to provide deeper insights for risk management. By integrating Snyk's vulnerability database, Rapid7 aims to deliver comprehensive coverage for application and library-level vulnerabilities. Additionally, the company was recognized as a Strong Performer in The Forrester Wave™ report for cloud workload security, achieving top rankings in several key criteria.