Rapid7, Inc. (RPD) Tops Q2 EPS by 6c, Revenues Beat; Offers FY18 EPS/Revenue Outlook

Rapid7, Inc. (NASDAQ: RPD) reported Q2 EPS of ($0.13), $0.06 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $58.4 million versus the consensus estimate of $55.14 million.

“Rapid7 had a great second quarter, with strong performance around the world and across our solutions,” said Corey Thomas, President and CEO of Rapid7. “For the fourth quarter in a row, ARR growth accelerated, reaching 44%, driven by new customer growth, upsells and cross-sells, and the success of our shift towards recurring revenue. As a result, we are raising our guidance for 2018 ARR growth to over 40%.”

“Rapid7’s cloud-based solutions that provide visibility, analytics and automation are powering SecOps and addressing the fastest growing markets in security. Our customers appreciate that our solutions are easy-to-install and easy-to-use, and they increasingly view these solutions as strategic to their success, as evidenced by increasing adoption of our cloud-based Insight platform.”

Second Quarter 2018 Financial Results (under ASC 606)

Total revenue for the second quarter of 2018 was $58.4 million.

• For the second quarter of 2018, GAAP loss from operations was $(14.3) million and non-GAAP loss from operations was $(6.0) million.
• For the second quarter of 2018, GAAP net loss was $(14.3) million or a GAAP loss per share of $(0.31) and non-GAAP net loss was $(6.0) million or a non-GAAP net loss per share of $(0.13).
• Adjusted EBITDA was $(4.2) million in the second quarter of 2018.
• For the second quarter of 2018, total revenue from North America was $49.5 million and comprised 85% of total revenue. Total revenue from the rest of world was $8.9 million and comprised 15% of total revenue in the second quarter of 2018.
• Cash flow from operating activities was $(9.1) million for the second quarter of 2018, compared to $(4.0) for the second quarter of 2017. Cash flow from operating activities was $(1.8) million in the first six months of 2018, compared to $(0.7) million in the first six months of 2017.

GUIDANCE:

Rapid7, Inc. sees FY2018 EPS of ($0.52)-($0.45), versus the consensus of ($0.50). Rapid7, Inc. sees FY2018 revenue of $250-253 million, versus the consensus of $233.98 million.

For earnings history and earnings-related data on Rapid7, Inc. (RPD) click here.

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