Rapid7 reports Q2 EPS 18c, consensus 11c

Reports Q2 revenue $190.4M, consensus $188.1M. “Rapid7 delivered strong second quarter results, ending the quarter with ARR of $751 million. Revenue and Non-GAAP operating income exceeded our guidance ranges and we saw better than expected traction with our consolidation offerings as customers gravitate towards our integrated security operations platform,” said Corey Thomas, Chairman and CEO of Rapid7. “In order to build upon the momentum we’re seeing in security operations, today we announced a restructuring plan to position us to accelerate investments in becoming the leading provider of integrated security solutions for the modern SOC. In addition to enabling a higher quality customer experience, we expect the net results of these optimizations will support growth in the business while allowing us to double free cash flow in 2024.”