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Rapid7, Inc. (NASDAQ: RPD) is a prominent cybersecurity company dedicated to creating a safer digital world by simplifying cybersecurity for organizations. Founded in 2000 and headquartered in Boston, Rapid7 has grown to become a global leader in providing comprehensive security solutions.
With a focus on vulnerability management, extended detection and response (XDR), security information and event management (SIEM), cloud security, threat intelligence, and security orchestration, automation, and response (SOAR), Rapid7 empowers over 11,000 customers worldwide. These solutions help security teams reduce vulnerabilities, detect and respond to threats, and automate routine tasks, ensuring robust protection against cyberattacks.
Rapid7 recently announced the opening of a new office in Prague, Czech Republic, which will serve as a hub for technical talent and innovation. This new location will also house a Security Operations Center (SOC) to enhance the company's 24x7 Managed Detection and Response (MDR) services. The Prague office aims to create over 100 jobs by mid-2024, focusing on areas like data engineering, software development, and IT.
Continuing its trend of innovation, Rapid7 introduced an AI-powered cloud anomaly detection solution. This offering improves the speed and accuracy of threat detection in cloud environments, reducing false positives and enabling rapid response to actual threats. This solution is currently available for select customers and integrates seamlessly with Rapid7's existing platform.
Rapid7's Managed Digital Risk Protection (DRP) service further extends its security offerings by monitoring external threats on the clear, deep, and dark web. This service, combined with MDR, provides comprehensive coverage of both internal and external attack surfaces, significantly enhancing threat detection and response capabilities.
The company has received industry recognition for its InsightIDR solution, which was named the Best SIEM Solution at the SC Awards Europe 2024. InsightIDR stands out for its ability to streamline detection and response through precise alerting, detailed investigations, and actionable automation.
Rapid7’s commitment to research is highlighted by its annual Attack Intelligence Report, which provides valuable insights into modern cyber threats. The 2024 report emphasized the increasing threat of zero-day vulnerabilities and the importance of timely patching and mitigation strategies.
Overall, Rapid7 continues to expand its global footprint, invest in innovation, and deliver top-tier cybersecurity solutions, making it a vital player in the fight against cyber threats.
Rapid7 (NASDAQ: RPD) reported a strong financial performance for 2020, with full-year revenue reaching $411.5 million, a 26% increase year-over-year. The annualized recurring revenue (ARR) grew to $432.9 million, marking a 28% increase. Notably, products revenue hit $382.9 million, up 29% year-over-year. The company experienced a GAAP operating loss of $(74.1) million, while non-GAAP operating income stood at $2.0 million.
Looking ahead, Rapid7 predicts 2021 revenue between $488.0 million and $496.0 million, indicating continued growth.
Rapid7 has announced the acquisition of Alcide.IO for approximately $50 million, enhancing its cloud security offerings. This purchase, the second in nine months, aims to bolster Rapid7's capabilities in Kubernetes security and provide a unified customer experience in cloud-native application security management. Alcide's technology integrates security into DevOps processes, ensuring seamless deployment and protection of cloud environments. The acquisition is expected to have no significant financial impact on Rapid7 for 2021.
Rapid7 (NASDAQ: RPD) has announced the release date for its fourth quarter and full year 2020 financial results, set for February 9, 2021, post-market close. A conference call to discuss these results and the business outlook will follow at 4:30 p.m. ET. Investors can access the call via telephone or through a live webcast on the company’s investor relations website. A replay of the call will be available until February 16, 2021. Rapid7 provides security analytics and automation solutions, serving over 9,300 customers globally.
Rapid7, Inc. (NASDAQ: RPD) announced a strategic partnership with SCADAfence, enhancing cybersecurity through integrated visibility for IT and operational technology (OT) networks. The collaboration aims to help organizations assess risks and manage vulnerabilities in connected environments, crucial for smart manufacturing. Security teams will benefit from improved risk prioritization using Rapid7's InsightVM and SCADAfence’s OT visibility. This partnership seeks to address increasing cybersecurity threats associated with digitally connected Industrial Control Systems.
Rapid7 (NASDAQ: RPD) has announced that it will present at three upcoming virtual conferences. The presentations will take place at the Needham Virtual Security, Networking, and Communications Conference on November 17 at 2:15 p.m. ET, the RBC Capital Markets Global Technology, Internet, Media and Telecom Virtual Conference on November 18 at 11:35 a.m. ET, and the Barclays Global Technology, Media and Telecommunications Conference on December 9 at 9:30 a.m. ET. Live webcasts and replays will be available on their investor relations website.
Rapid7 reports robust Q3 2020 results with annualized recurring revenue (ARR) of $398.7 million, reflecting a 29% year-over-year increase. Total revenue reached $105.1 million, up 26% year-over-year, driven by a 29% growth in products revenue. Although a GAAP operating loss of $(17.9) million was reported, non-GAAP operating income was $2.4 million. The company raised its guidance for ARR and revenue for the full year, projecting an ARR between $418 million and $422 million in Q4.
On October 30, 2020, Rapid7 (NASDAQ: RPD) announced an extension of its strategic partnership with Snyk, aiming to enhance cloud native application security. The partnership integrates Rapid7's tCell and Snyk's security solutions, allowing for comprehensive vulnerability detection during the development process. This collaboration targets improving security visibility in applications as digital transformation accelerates. The combined solution enables developers to identify and prioritize security flaws effectively, supporting safer software development.
Rapid7 (NASDAQ: RPD) has launched Enhanced Endpoint Telemetry (EET) within its InsightIDR SIEM solution, expanding endpoint visibility for enhanced security. EET allows customers to investigate security incidents with broader coverage and deeper insights into endpoint activity. This new capability aims to address the challenges posed by increasing remote work and evolving threats, providing security teams with actionable data from a centralized interface. EET includes features like detailed logging of monitored endpoints and custom alert creation.
Rapid7 (NASDAQ: RPD) is set to announce its third quarter 2020 financial results on November 4, 2020, after market close. A conference call to discuss the results and future outlook will be held at 4:30 PM ET, accessible via telephone and webcast. Rapid7 specializes in security analytics and automation, serving over 9,100 customers globally. The firm aims to enhance security through its Insight cloud, facilitating better collaboration between security teams and IT departments to tackle vulnerabilities and threats.
Rapid7 (NASDAQ: RPD) has launched a new Cloud Identity and Access Management (IAM) Governance module for DivvyCloud, aiming to enhance security and reduce identity risks in cloud environments. The solution provides comprehensive visibility into cloud resources, allowing customers to assess and remediate improper permissions. Key functionalities include establishing least privilege access and understanding complex IAM combinations. This launch addresses the increasing security challenges faced by businesses today as remote work and cloud reliance grow.
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