Rapid7, Inc.

Listed Company

RPDCIK 0001560327NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$859.79M

Net Income

$23.38M

Total Assets

$1.73B

Equity

$154.73M

Shares Out

65.89M

Op. Cash Flow

$153.83M

Business

Rapid7, Inc. is a global cybersecurity software and service provider that helps security operations teams manage and reduce attack surface exposure while detecting and responding to threats. It offers the cloud-native Command Platform and a suite of SaaS solutions, managed services, professional services, threat intelligence and open-source research to enable vulnerability management, SIEM/XDR, detection and response, cloud security, application security and red-teaming. Key business areas include its integrated Command Platform, managed detection and response, exposure management offerings, and professional services. Rapid7 sells globally through direct sales, channel partners, MSSPs and public cloud marketplaces and operates SOCs to deliver managed services.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	860	844	778	685	535
Total cost of revenue	255	251	232	214	169
Total gross profit	605	593	546	471	366
Research and development expense	191	173	178	190	161
Sales and marketing expense	318	299	314	307	247
General and administrative expense	85	86	85	85	78
Impairment of long-lived assets	0	0	31	0	0
Restructuring	0	0	22	0	0
Total operating expenses	593	558	630	582	487
Income (loss) from operations	12	35	−84	−112	−120
Interest income	23	21	10	2	365,000
Interest expense	−10	−11	−65	−11	—
Other income (expense), net	6	−4	−15	−2	−2
Income (loss) before income taxes	30	41	−153	−122	−136
Provision (benefit) for income taxes	7	16	−518,000	2	10
Net income (loss)	23	26	−153	−125	−146
Net income per share, basic (in dollars per share)	0.36	0.41	−2.52	−2.13	−2.65
Net income per share, diluted (in dollars per share)	0.36	0.4	−2.52	−2.13	−2.65
Weighted-average common shares outstanding, basic (in Shares)	65	63	61	59	55
Weighted-average common shares outstanding, diluted (in Shares)	65	63	61	59	55

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	247	335	214	207	165
Short-term investments	228	187	170	84	59
Accounts receivable, net of allowance for credit losses of $2,476 and $1,833 at December 31, 2025 and 2024, respectively	167	168	165	152	146
Deferred contract acquisition and fulfillment costs, current portion	48	52	45	35	30
Prepaid expenses and other current assets	47	44	41	32	33
Total current assets	737	786	634	510	433
Long-term investments	184	37	56	10	34
Property and equipment, net	32	32	40	58	50
Operating lease right-of-use assets	45	49	55	79	84
Deferred contract acquisition and fulfillment costs, non-current portion	67	74	77	68	57
Goodwill	575	575	536	516	515
Intangible assets, net	65	86	95	101	112
Other assets	20	13	13	17	—
Total assets	1,726	1,652	1,505	1,359	1,296
Accounts payable	11	19	16	10	4
Accrued expenses and other current liabilities	97	89	85	80	83
Convertible senior notes, current portion, net	0	46	0	—	—
Operating lease liabilities, current portion	16	15	13	12	10
Deferred revenue, current portion	451	461	456	427	372
Total current liabilities	575	630	570	531	469
Convertible senior notes non-current portion, net	892	888	930	816	812
Operating lease liabilities, non-current portion	60	68	81	86	91
Deferred revenue, non-current portion	30	27	33	31	33
Other long-term liabilities	14	20	10	15	17
Total liabilities	1,572	1,634	1,624	1,479	1,422
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at December 31, 2025 and 2024; 0 shares issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value per share; 100,000,000 shares authorized at December 31, 2025 and 2024; 66,417,175 and 64,067,220 shares issued at December 31, 2025 and 2024, respectively; 65,846,920 and 63,496,965 shares outstanding at December 31, 2025 and 2024, respectively	658,000	635,000	617,000	597,000	577,000
Treasury stock, at cost, 570,255 shares at December 31, 2025 and 2024	−5	−5	−5	−5	−5
Additional paid-in-capital	1,121	1,011	898	746	615
Accumulated other comprehensive income (loss)	3	−1	1	−1	−812,000
Accumulated deficit	−965	−988	−1,014	−861	−736
Total stockholders equity	155	18	−118	−120	−126
Total liabilities and stockholders equity	1,726	1,652	1,505	1,359	1,296

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	45	45	46	41	34
Amortization of debt issuance costs	4	4	4	4	4
Stock-based compensation expense	104	108	112	120	103
Change in fair value of derivative assets	0	0	16	0	0
Deferred income taxes	−2	791,000	−6	−1	466,000
Induced conversion expense	0	0	54	0	3
Other	−6	−2	469,000	−200,000	2
Accounts receivable	2	−5	−14	−9	−25
Deferred contract acquisition and fulfillment costs	10	−4	−19	−16	−23
Prepaid expenses and other assets	−10	3	−4	−2	−3
Accounts payable	−9	3	5	8	−2
Accrued expenses	10	−10	2	4	19
Deferred revenue	−8	−795,000	30	53	86
Other liabilities	−10	4	−1	2	4
Net cash provided by operating activities	154	172	104	78	54
Business acquisitions, net of cash acquired	0	−37	−35	0	−358
Purchases of property and equipment	−8	−3	−4	−20	−9
Capitalization of internal-use software	−16	−14	−16	−17	−10
Purchases of investments	−533	−242	−277	−123	−93
Sales and maturities of investments	351	251	150	121	148
Purchase of strategic equity investments (See Note 5)	−6	0	0	—	—
Other investing activities	2	360,000	3	−1	−3
Net cash used in investing activities	−209	−47	−179	−40	−325
Proceeds from issuance of convertible senior notes, net of issuance costs paid	0	0	292	0	585
Purchase of capped calls related to convertible senior notes	0	0	−37	0	−76
Payment of debt issuance costs	−2	0	0	−71,000	−300,000
Payments for maturity of convertible senior notes	−46	0	−200	−12,000	−230
Payments related to business acquisitions	−4	−500,000	−2	−300,000	−12
Proceeds from capped call settlement	0	0	18	0	0
Taxes paid related to net share settlement of equity awards	−3	−5	−6	−7	−16
Proceeds from employee stock purchase plan	8	9	11	12	9
Proceeds from stock option exercises	2	2	3	3	4
Net cash (used in) provided by financing activities	−46	6	80	7	264
Effect of exchange rate changes on cash ,cash equivalents and restricted cash	6	−3	1	−3	−1
Net (decrease) increase in cash, cash equivalents and restricted cash	−95	128	6	43	−9
Cash paid for interest on convertible senior notes	6	6	5	7	7
Cash paid for income taxes, net of payments	8	8	2	2	3

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