Core Insights - Rapid7, Inc. has announced significant enhancements to its Command Platform, focusing on unified threat-informed remediation and AI-assisted automated detection and response, aimed at improving security outcomes for organizations [1][2]. Group 1: Enhancements to Command Platform - The new version of the Command Platform provides security teams with platform-level remediation capabilities across exposure management and threat detection, enhancing visibility and collaboration [1]. - Integrated remediation of vulnerabilities is now available, whether from Rapid7's own scanner or third-party tools, along with AI-powered prioritization for threat investigation [3]. - Active Remediation with Velociraptor allows Rapid7 to act on behalf of customers to remove malicious artifacts, effectively responding to threats before they escalate into incidents [3]. Group 2: Addressing Security Challenges - Security teams are facing an expanding attack surface and a fragmented approach to security tools, necessitating automated remediation across the entire ecosystem [2]. - The enhancements aim to transform exposure and threat remediation processes by proactively identifying and prioritizing critical exposures [2]. Group 3: Key Features of the Command Platform - Unified Vulnerability Management allows organizations to consolidate risk signals across various security tools, enabling better prioritization and streamlined remediation [4]. - Fully Integrated Automation in the Remediation Process reduces administrative overhead and improves communication efficiency, speeding up remediation efforts [4]. - The AI-Powered Triage feature provides security analysts with visibility into AI decision-making, enhancing trust and integration of automation into workflows [4]. Group 4: Financial Protection and Support - The Breach Protection Warranty offers up to $1,000,000 in coverage for Managed Threat Complete (MTC) Ultimate customers, covering expenses related to cyberattacks [4]. - Rapid7's service includes unlimited incident response, simplifying breach response planning and reducing financial complexity for customers [4].

Core Insights - Rapid7 has launched a new Managed Detection & Response (MDR) service specifically designed for large enterprises, addressing the unique demands of complex and distributed environments [1][2] - The new MDR for Enterprise service offers customizable detection and response capabilities, filling visibility gaps that standard MDR services may leave in sprawling digital environments [2][3] - This service emphasizes continuous collaboration between Rapid7's Security Operations Center (SOC) and the internal teams of organizations, enhancing security operations processes [3][4] Service Features - The MDR for Enterprise integrates proprietary, vertical-specific, and legacy systems into the workflow, providing comprehensive situational awareness and reducing dwell time [7] - Customized detection logic is tailored to each organization's specific tools, telemetry, and risk profile, ensuring complete visibility across unique environments [7] - Continuous monitoring extends to in-house and non-standard systems, enabling earlier detection of attacker behaviors through correlation across various layers [7] Market Demand - Large security teams are seeking more than standard detection and response approaches; they require confidence to move faster and respond smarter to evolving threats [4] - Organizations are increasingly shifting towards partnership models like Rapid7's MDR for Enterprise to keep pace with the complexities of distributed infrastructure [4] Company Overview - Rapid7 aims to create a safer digital world by simplifying and making cybersecurity more accessible, serving over 11,000 global customers [6] - The company combines cloud risk management with threat detection and response to reduce attack surfaces and eliminate threats effectively [6]

BOSTON, April 24, 2025 (GLOBE NEWSWIRE) -- Rapid7, Inc. (NASDAQ:RPD), a leader in extended risk and threat detection, today announced the launch of Managed Detection & Response (MDR) for Enterprise, a fully managed and customizable detection and response service designed to meet the unique demands of complex, distributed enterprise environments. Modern enterprises operate across sprawling digital environments spanning cloud, on-premises, legacy systems, and proprietary applications. For some organizations, ...

Integrated threat intelligence solution delivers proactive context and prioritization, rapidly accelerating time to remediation BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Rapid7 (NASDAQ: RPD), a leader in extended risk and threat detection, today announced the launch of Intelligence Hub, an integrated threat intelligence solution designed to provide security teams with meaningful context and actionable insights for accelerated detection and response. Data overload is a major problem for security teams; two- ...

BOSTON, April 15, 2025 (GLOBE NEWSWIRE) -- Rapid7, Inc. (NASDAQ: RPD), a leader in extended risk and threat detection, today announced that the company will release its first quarter 2025 financial results on Monday, May 12, 2025, after the financial markets close. The company will host a conference call that same day to discuss its results and business outlook at 4:30 p.m. Eastern Time. The call will be accessible by telephone at +1 888-330-2384 (toll-free) or +1 240-789-2701 with the event code 8484206. T ...

Core Insights - Rapid7, a leader in extended risk and threat detection, announced the winners of its 2025 Partner of the Year Awards, recognizing exceptional collaboration and positive customer impact among partners [1][3] - The awards program is in its 5th year and acknowledges 24 partners across 13 categories in four major geographic regions [3] Partner Program Updates - Rapid7 introduced significant updates to its global PACT partner program, which includes tailored engagement programs, a new Partner Training Academy, and an expanded partner portal [2] - The program was rolled out to the entire channel community, including resellers, distributors, systems integrators, and service providers, through various global events [2] Regional Winners - North America Partner of the Year: SHI; Canada Partner of the Year: Softchoice; Public Sector Partner of the Year: CDW•G; Best Customer Retention Partner: GuidePoint Security; Cloud Security Partner: SHI; Detection & Response Partner: CDW; Exposure Management Partner: SHI; MSSP Partner: Novawatch; Distributor of the Year: Carahsoft; Emerging Partner: The Redesign Group [8] - EMEA Partner of the Year: Softcat; Best Customer Retention Partner: TRINEXIA South Africa; Cloud Security Partner: Saepio; Detection & Response Partner: Integrity360; Exposure Management Partner: Longwall Security; MSSP Partner: MEO; Distributor of the Year: Infinigate Deutschland GmbH; Emerging Partner: Telonic GmbH [8] - APJ Partner of the Year: DGplex; Best Customer Retention Partner: CyberRisk; Detection & Response Partner: Telstra; Exposure Management Partner: Wysetek Systems Technologists; MSSP Partner: Cythera; Distributor of the Year: APTSecure Technologies; Emerging Partner: ctrl:cyber [8] Partner Quotes - SHI expressed honor in being recognized as North America Partner of the Year, highlighting the team's dedication to delivering innovative solutions [12] - Softcat emphasized the strength of its partnership with Rapid7, reflecting over a decade of collaboration [12] - DGplex noted the recognition as APJ Partner of the Year as a testament to its team's commitment to innovative cybersecurity solutions [12]

Company Overview - Rapid7, Inc. is a leader in extended risk and threat detection, focusing on cybersecurity solutions that simplify and enhance security for organizations [8] - The company serves over 11,000 global customers, providing comprehensive security solutions that unite cloud risk management and threat detection [8] Board of Directors Changes - Rapid7 announced the appointment of three new members to its Board of Directors: Wael Mohamed, Mike Burns, and Kevin Galligan, expanding the Board to 11 directors [1][2] - These appointments are expected to enhance the company's leadership and execution capabilities, aligning with its growth strategy [2][3] Strategic Goals - The company aims to accelerate its growth and enhance operational efficiency through the expertise of the new board members [2] - Rapid7 is focused on delivering cutting-edge solutions in AI-driven threat detection, cloud security, and exposure management, positioning itself for sustainable and profitable growth [2] Cooperation Agreement - Rapid7 has entered into a cooperation agreement with JANA Partners Management, LP, which includes support for all of Rapid7's director nominees at the upcoming annual shareholder meeting [1][2] Expertise of New Board Members - Wael Mohamed brings over 30 years of experience in cybersecurity and digital transformation, having held leadership roles in various technology companies [4] - Mike Burns has more than 25 years of senior leadership experience in finance and operations within high-growth public technology companies [5] - Kevin Galligan has 18 years of experience in investing and driving shareholder value, currently serving as a Partner and Director of Research at JANA Partners [6]

Core Insights - Rapid7, Inc. is expanding its operations in India by opening a new Global Capability Center (GCC) in Pune, aimed at driving AI innovation and enhancing cybersecurity operations [1][2][3] Group 1: Expansion Plans - The GCC in Pune will open in April 2025, focusing on providing 24x7 security operations coverage for global customers [2] - The new office will prioritize hiring talent to foster product and service innovation in cyber operations and build a local cybersecurity talent pipeline [2][3] Group 2: Leadership Statements - Corey Thomas, CEO of Rapid7, emphasized that the expansion into India is crucial for enhancing security operations leadership and customer-centric innovation [3] - Swami Nathan, Rapid7's country manager for India, expressed excitement about leading the new hub and the opportunities for team members to impact customer security [3] Group 3: Engagement Initiatives - Rapid7 will host three Security Day events in May 2025 in Mumbai, Delhi, and Bangalore to engage with corporate, academic, and government leaders on cybersecurity challenges and advancements [4] - These events will focus on topics such as Continuous Threat Exposure Management (CTEM) and Managed Extended Detection and Response (MXDR) [4] Group 4: Company Overview - Rapid7 is committed to creating a safer digital world by simplifying cybersecurity and empowering security professionals [6] - The company serves over 11,000 global customers, integrating cloud risk management with threat detection and response [6]

Financial Performance - For the year ended December 31, 2024, the company recorded total revenue of $844 million, an increase of 8.5% from $777.7 million in 2023[355]. - Product subscriptions revenue was $808.9 million, up from $740.2 million in 2023, representing a growth of 9.3%[355]. - The company reported a net income of $25.5 million for 2024, a significant recovery from a net loss of $152.8 million in 2023[355]. - Total gross profit for 2024 was $593 million, compared to $545.7 million in 2023, reflecting a gross margin improvement[355]. - Operating expenses decreased to $557.9 million in 2024 from $629.9 million in 2023, primarily due to lower research and development costs[355]. - The company recognized a total comprehensive income of $23 million in 2024, compared to a comprehensive loss of $150.1 million in 2023[359]. - Net income for the year ended December 31, 2024, was $25,526,000, a significant improvement from a net loss of $152,815,000 in 2023 and $124,717,000 in 2022[364]. - The company reported a loss before income taxes of $153,333,000 for the year ended December 31, 2024, compared to a profit of $41,455,000 in 2023[482]. - Total income tax expense for 2024 was $15,929,000, a significant increase from a tax benefit of $518,000 in 2023[483]. - The effective income tax rate for 2024 was 38.4%, compared to 0.3% in 2023[483]. Cash and Investments - The company reported cash and cash equivalents of $334.7 million and investments of $224.3 million as of December 31, 2024[330]. - The company’s cash and cash equivalents increased to $334.7 million as of December 31, 2024, up from $213.6 million in 2023[353]. - Total cash, cash equivalents, and restricted cash at the end of 2024 was $342,101,000, up from $214,127,000 in 2023[364]. - The company had $7.4 million of restricted cash recorded on its consolidated balance sheet as of December 31, 2024[384]. - As of December 31, 2024, Rapid7's available-for-sale investments totaled $224.3 million, with maturities ranging from 1 to 17 months[440]. Competition and Market Conditions - The company anticipates that prolonged economic uncertainties could adversely affect its business and operating results[13]. - The company faces intense competition in its market, which could negatively impact its financial condition and results of operations[13]. - The company is dependent on customers renewing and expanding their subscriptions, which is vital for future operating results[13]. - The company aims to maintain an adequate annualized recurring revenue growth, which is critical for its future operating results[12]. - The company is focused on diversifying its sources of revenue and effectively managing its growth to sustain profitability[12]. Expenses and Costs - Stock-based compensation expense for 2024 was $107,961,000, slightly down from $111,636,000 in 2023[364]. - The total amortization expense for intangible assets was $33.8 million in 2024, up from $31.9 million in 2023, indicating a year-over-year increase of 5.9%[447]. - The adjusted total cost of revenue for 2024 was $221,664 thousand, up from $202,655 thousand in 2023[510]. - Total lease costs for the year ended December 31, 2024, were $25.905 million, a decrease from $26.254 million in 2023[467]. - The company incurred fees of $0.4 million related to the Credit Agreement, which are amortized over the contractual term[465]. Acquisitions and Goodwill - Rapid7 acquired Noetic Cyber, Inc. for an aggregate fair value of $51.2 million, consisting of $38.6 million in cash, $12.1 million in contingent consideration, and $0.5 million in deferred cash payments[429]. - Rapid7 acquired Minerva Labs Ltd. for an aggregate fair value of $34.6 million, with $35.0 million paid in cash at closing[438]. - The fair value of net assets acquired from Minerva was $13.9 million, with goodwill recorded at $20.7 million and intangible assets at $12.8 million[439]. - Goodwill increased from $536.4 million as of December 31, 2023, to $575.3 million as of December 31, 2024, reflecting a growth of approximately 7.3%[447]. Tax and Regulatory Matters - The company had federal net operating loss carryforwards of $265.6 million and state NOLs of $306.0 million as of December 31, 2024[484]. - The company recorded additional research and development tax credits of $4.2 million during the fourth quarter of 2024[487]. - The company received an initial tax assessment from the Israel Tax Authority of approximately 324 million Israeli New Shekels (about $88 million) for fiscal year 2021, but has not recorded any impact in its financial statements[494]. - The company recorded $4,520 thousand in additions based on tax positions related to the current year, increasing unrecognized tax benefits to $9,876 thousand by December 31, 2024[492]. Restructuring and Operational Changes - The company completed its Restructuring Plan in Q1 2024, incurring $(0.2) million in restructuring charges[513]. - The company incurred $22.2 million in restructuring charges in 2023, which included a workforce reduction of approximately 16%[511]. - The company recorded impairment losses of $30.8 million related to idle office spaces in 2023, consisting of $22.2 million for right-of-use assets and $8.6 million for leasehold improvements[468]. Stock and Shareholder Matters - The number of shares available for grant under the Employee Stock Purchase Plan (ESPP) as of December 31, 2024, was 3,076,461[478]. - The expected volatility for the ESPP in 2024 was between 37% and 47%[481]. - As of December 31, 2024, the company had 582,638 stock options outstanding with a weighted average exercise price of $12.38 and an intrinsic value of $16,225,000[477]. - The company has not paid dividends on its common stock and does not expect to do so in the foreseeable future[480].

Core Insights - Rapid7 has announced new innovations to its Exposure Management offering, enhancing the Rapid7 Command Platform to provide improved attack surface visibility and context for organizations [1][2][3] Group 1: Innovations and Features - The new features allow organizations to continuously monitor sensitive data across multi-cloud environments, integrating AI-driven risk scoring and asset context for effective exposure prioritization and remediation [1][2] - Enhancements to the Remediation Hub align risk severity, asset context, reachability, and exploitability with recommended remediations, streamlining the remediation process for security teams [2][6] Group 2: Importance of Context and Control - Security teams require not just visibility but also context and control to enhance efficiency, which is addressed by integrating sensitive data insights and AI-driven prioritization into the platform [3][6] - The innovations aim to help organizations proactively reduce risk, expedite response times, and gain deeper visibility into their attack surface [3] Group 3: Data Protection and Compliance - The ability to discover and protect sensitive data from endpoints to the cloud is essential for organizations to comply with evolving privacy regulations [2][6] - Integration with Cloud Service Provider security services like AWS Macie and Microsoft Defender allows teams to classify and secure sensitive data from the outset, improving data hygiene [6]