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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, Inc. (NASDAQ: RPD) has introduced new patented ransomware prevention technology to provide end-to-end coverage and accelerate detection and response time. The company's approach disrupts attacks at the earliest stage, addressing the increasing threat of ransomware attacks. The technology is integrated into Rapid7 Managed Threat Complete, offering a multi-layered defense to stop threats before they escalate. By combining prevention with existing threat detection capabilities, Rapid7 aims to enhance customer safety and efficiency in SOC environments.
Rapid7, Inc. (Nasdaq: RPD) announced its first quarter 2024 financial results, revealing an ARR of $807 million, up 11% YoY, with total revenue reaching $205 million, a 12% increase. GAAP operating income was $11 million, while non-GAAP operating income stood at $40 million. The company reported positive net cash flow and free cash flow figures. The CEO highlighted challenges in shifting VM base to Cloud Risk Complete but remains optimistic about long-term growth. Although total ARR fell below expectations, profitability metrics were strong. Rapid7 provided guidance for the second quarter and full-year 2024, with expectations of revenue growth, non-GAAP income, net income per share, and free cash flow.
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