Fri, Feb 28, 9:15 PM (58 days ago)
**Rapid7, Inc. (RPD) 2024 Financial Summary** In 2024, Rapid7, Inc. reported total revenue of $844 million, a notable increase of 8.5% from $778 million in 2023. The revenue growth was driven by a 9.3% rise in product subscriptions, totaling $809 million, while professional services revenue slightly declined to $35 million. The company achieved a net income of $25.5 million after incurring significant losses of $152.8 million and $124.7 million in the previous two years, indicating a turnaround in profitability. Operating expenses totaled $558 million, with a focus on R&D and sales/marketing. Rapid7's annualized recurring revenue (ARR) grew to $840 million, reflecting a 4.2% increase year-over-year, with a customer base exceeding 11,700. The company's strategic emphasis on integrated security operations and cloud security solutions positions it favorably in a competitive market. Key risks include reliance on customer renewals, economic uncertainties, and cybersecurity threats. The firm maintains a solid financial condition, with $334.7 million in cash and equivalents. However, it carries significant debt from convertible senior notes, which could impact flexibility. Overall, Rapid7's outlook appears positive, driven by strong revenue growth and a commitment to innovation in cybersecurity solutions.