Rapid7, Inc. (NASDAQ:RPD) Q4 2020 Earnings Conference Call February 9, 2021 4:30 PM ET Company Participants Sunil Shah - VP, IR Corey Thomas - CEO Jeff Kalowski - CFO Conference Call Participants Saket Kalia - Barclays Matt Hedberg - RBC Capital Markets Brian Essex - Goldman Sachs Jonathan Ho - William Blair Adam Tindle - Raymond James Rob Owens - Piper Sandler Gregg Moskowitz - Mizuho Hamza Fodderwala - Morgan Stanley Alex Henderson - Needham Joshua Tilton - Berenberg Operator Ladies and gentlemen, thank y ...

Rapid7, Inc. (NASDAQ:RPD) Q3 2020 Earnings Conference Call November 4, 2020 4:30 PM ET Company Participants | --- | --- | |--------------------------------------------------------------------------------------------------------------------|-------| | | | | Sunil Shah - VP, Investor Relations Corey Thomas - Chief Executive Officer Jeff Kalowski - Chief Financial Officer | | | Conference Call Participants | | | Rob Owens - Piper Sandler | | | Saket Kalia - Barclays | | Operator Ladies and gentlemen, thank you ...

Financial Data and Key Metrics Changes - Total ARR ended the second quarter at $379.9 million, growing 31% year-over-year, reflecting strong demand for the Insight platform [11][42] - Total revenue for Q2 was $98.9 million, exceeding guidance and growing 25% year-over-year, driven by a 27% increase in product revenue [42] - Recurring revenue represented 91% of total revenue, up from 87% in the prior year [42] - Operating profit for Q2 was $4.3 million, ahead of guidance, with adjusted EBITDA at $7.6 million [48] Business Line Data and Key Metrics Changes - Security transformation solutions, including IDR and InsightAppSec, showed strong momentum, representing over 50% of new business in the quarter [21] - ARR per customer grew by 20% year-over-year to approximately $41,600, indicating successful expansion in customer relationships [24][45] - Vulnerability management continued to grow, with solid year-to-date ARR and revenue growth exceeding 20% [22] Market Data and Key Metrics Changes - North America revenue grew by 25% year-over-year, comprising 83% of total revenue, while the rest of the world grew by 29% [43] - The company served over 9,100 customers globally, a 9% increase from the prior year [44] Company Strategy and Development Direction - The company aims to lead in enabling customers to transform their security operations around the cloud, focusing on security analytics, automation, and cloud enablement [31] - Rapid7's platform strategy allows customers to expand their security capabilities over time, addressing immediate priorities while facilitating long-term growth [20] - The company plans to pilot various Insight product bundles to maximize customer adoption and drive sales leverage [36] Management's Comments on Operating Environment and Future Outlook - Management noted that organizations are increasingly prioritizing security enablement as they navigate digital transformation and cloud migration [12][51] - The company raised its full-year guidance for ARR to a range of $404 million to $420 million, reflecting confidence in long-term growth despite economic uncertainties [56] - Management acknowledged the ongoing economic uncertainty but expressed optimism about the demand for security solutions [52][55] Other Important Information - The company welcomed a new Board member, Reeny Sondhi, who brings expertise in cloud and security [38] - The company reported a cash balance of $321 million at the end of Q2, up from $253.6 million in Q1, primarily due to proceeds from a convertible notes offering [49] Q&A Session Summary Question: Insights on SIEM demand post-COVID - Management observed that demand for cloud-based SIEM has increased significantly as organizations recognize the need for modern security solutions in a remote work environment [66][67] Question: Net revenue retention and upsell trends - Gross retention remained strong, with net revenue retention slightly declining from 106% to 105%, which was anticipated [70][71] Question: Urgency of cloud migration among CIOs - CIOs are accelerating their digital transformation efforts, with security becoming a critical part of the conversation as they move operations to the cloud [77][79] Question: Trends in security spending - Management noted that security spending has not slowed as much as expected, with many organizations continuing to invest in cybersecurity initiatives [86] Question: Impact of customer layoffs on business - Management indicated that the growth of technology assets typically outpaces any decline in employee numbers, minimizing the impact of layoffs on revenue [118]

Rapid7, Inc. (NASDAQ:RPD) Q1 2020 Earnings Conference Call May 7, 2020 4:30 PM ET Corporate Participants Sunil Shah - VP of investor relations Corey Thomas - Chairman & Chief Executive Officer Jeff Kalowski - Chief Financial Officer Conference Call Participants Michael Turits - Raymond James Matt Hedberg - RBC Capital Saket Kalia - Barclays Rob Owens - Piper Sandler Gur Talpaz - Stifel Brian Essex - Goldman Sachs Calvin Patel - Macquarie John Weidemoyer - William Blair Operator Ladies and gentlemen, thank y ...

Rapid7 Overview - Rapid7's Annual Recurring Revenue (ARR) grew by 31% year-over-year as of Q1 2020[5] - Recurring revenue accounted for 90% of Rapid7's total revenue[7] - Rapid7 projects ARR growth of 17% and revenue growth of 20% in 2020[9] Customer Base - Enterprise-level customers make up over 50% of Rapid7's customer base ARR[21] - As of March 31, 2020, customer ARR was $350.9 million[22] - ARR per customer was approximately $38900 in Q1 2020[67] Financial Performance - Q1 2020 revenue growth was 29% year-over-year[55] - Rapid7 achieved a 90% mix of recurring revenue in Q1 2020[62] - ARR grew by 31% year-over-year in Q1 2020, reaching $351 million[65] Guidance - Rapid7 anticipates ARR between $387 million and $407 million for full-year 2020, representing 14% to 20% growth[83] - The company projects revenue between $388 million and $395 million for full-year 2020, a 19% to 21% increase[83]

Rapid7, Inc. (NASDAQ:RPD) Q4 2019 Earnings Conference Call February 10, 2020 4:30 PM ET Company Representatives Corey Thomas - Chairman & Chief Executive Officer Jeff Kalowski - Chief Financial Officer Neeraj Mahajan - Vice President of Investor Relations Conference Call Participants Rob Owens - Piper Sandler Matthew Hedberg - RBC Michael Turits - Raymond James Gur Talpaz - Stifel Jonathan Ho - William Blair Gregg Moskowitz - Mizuho Melissa Franchi - Morgan Stanley Nick Yako - Cowen & Company Operator Ladie ...

Rapid7, Inc. (NASDAQ:RPD) Q3 2019 Earnings Conference Call November 5, 2019 8:00 AM ET Company Participants Neeraj Mahajan - VP, IR Corey Thomas - CEO Jeff Kalowski - CFO Conference Call Participants Saket Kalia - Barclays Capital Matthew Hedberg - RBC Capital Markets Gur Talpaz - Stifel Rob Owens - KeyBanc Capital Markets Michael Turits - Raymond James Gregg Moskowitz - Mizuho Jonathan Ho - William Blair Nick Yako - Cowen & Company Chris Speros - Stifel Operator Good day, ladies and gentlemen. Thank you fo ...

Rapid7 (NASDAQ:RPD) Q2 2019 Earnings Conference Call August 1, 2019 8:00 AM ET Company Participants Neeraj Mahajan - Vice President, Investor Relations Corey Thomas - Chief Executive Officer Jeff Kalowski - Chief Financial Officer Conference Call Participants Rob Owens - KeyBanc Capital Markets Saket Kalia - Barclays Capital Matt Hedberg - RBC Capital Markets Chris Speros - Stifel Michael Turits - Raymond James Jonathan Ho - William Blair Gregg Moskowitz - Mizuho Alex Henderson - Needham Keith Weiss - Morga ...

COMPANY OVERVIEW August 1, 2019 1 Disclaimers This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical facts, including, without limitation, statements regarding our market opportunity, demand for our product and service offerings, expectations regarding our annualized recurring revenue (ARR), ARR growth per customer, revenue growth, and our non-GAAP measures, our business strategy, plans and objectives for future operations and ...