Rapid7, Inc. (RPD) Tops Q4 EPS by 1c, Revenues Beat; Offers 1Q & FY21 Revenue Guidance Above Consensus, 1Q & FY21 EPS Views Below Consensus

Rapid7, Inc. (NASDAQ: RPD) reported Q4 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $113.16 million versus the consensus estimate of $108.62 million.

"The Rapid7 team delivered a strong finish to 2020 that exceeded our expectations across both security transformation solutions and vulnerability management. Full-year ARR growth of 28% demonstrates our ability to capture the growing opportunity as organizations transform their security operations for the cloud," said Corey Thomas, Chairman and CEO of Rapid7.

"As we look ahead to 2021 we remain focused on delivering an Insight Platform experience that combines market leading technology and platform value for a differentiated customer experience."

GUIDANCE:

Rapid7, Inc. sees Q1 2021 EPS of ($0.08)-($0.06), versus the consensus of ($0.04). Rapid7, Inc. sees Q1 2021 revenue of $113.2-114.8 million, versus the consensus of $111.94 million.

Rapid7, Inc. sees FY2021 EPS of ($0.03)-$0.04, versus the consensus of $0.15. Rapid7, Inc. sees FY2021 revenue of $488-496 million, versus the consensus of $483.6 million.

Guidance for the first quarter and full-year 2021 includes the anticipated contribution from the acquisition of Alcide as of January 28, 2021. Guidance for the first quarter and full-year 2021 does not include any potential impact of foreign exchange gains or losses. The weighted average shares outstanding for the first quarter 2021 represent basic shares outstanding given our projected non-GAAP net loss and for the full-year 2021 we provide both basic and diluted shares outstanding given our projected range of non-GAAP net loss to non-GAAP net income. In addition, fluctuations in Rapid7’s quarterly operating results may be particularly pronounced in the current economic environment due to the uncertainty caused by, and the unprecedented nature of, the current COVID-19 pandemic, whose severity, duration and ultimate impact is difficult to predict at this time. The primary set of drivers of Rapid7’s actual financial performance relative to the ranges provided will be a function of the timing and pace of economic recovery in the global economy and whether there are broad regional or systematic closures as a result of a sustained pandemic resurgence. The guidance provided above is based on a number of assumptions, estimates and expectations as of the date of this press release and, while presented with numerical specificity, this guidance is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Rapid7's control and are based upon specific assumptions with respect to future business decisions or economic conditions, some of which may change. Rapid7 undertakes no obligation to update guidance after this date.

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