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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) announced the acquisition of Minerva Labs, Ltd. for approximately $38 million in cash and stock. This acquisition enhances Rapid7's managed threat detection and orchestration capabilities across cloud and endpoint environments. The integration is expected to bolster advanced ransomware prevention and improve alignment with customers’ security investments. Minerva’s technology offers multi-layer ransomware prevention, enhancing overall threat detection. Financially, the acquisition is not projected to materially impact Rapid7's Annualized Recurring Revenue growth or income for 2023.
Rapid7 (NASDAQ: RPD) released its 2022 Vulnerability Intelligence Report, revealing a significant trend in cybersecurity vulnerabilities. The report identifies an 87% increase in the rate of first-week exploitation of security vulnerabilities since 2020. Notably, 56% of vulnerabilities were exploited within one week of public disclosure in 2022, with a median exploitation time of just one day. In contrast, the report noted a 33% decrease in vulnerabilities exploited for ransomware attacks. This report aims to equip organizations with insights to better manage risks and strengthen their security measures.
Rapid7 (NASDAQ: RPD), a leader in cloud risk and threat detection, announced its participation at the Raymond James 44th Annual Institutional Investors Conference in Orlando, FL. The presentation is scheduled for March 7, 2023, at 3:25 p.m. Eastern Time. Investors can access the live webcast and later replay on the company's investor relations website.
With over 10,000 global customers, Rapid7 aims to simplify cybersecurity, reducing attack surfaces while enhancing threat detection capabilities. For more information, visit their website.
Rapid7, Inc. (NASDAQ: RPD) is investing $1.5 million through the Rapid7 Cybersecurity Foundation to create a cyber threat intelligence laboratory at the University of South Florida (USF). This initiative aims to foster interdisciplinary research and provide students with hands-on cybersecurity training. The lab will support diverse talent development in cybersecurity and will involve various academic disciplines. The collaboration aligns with the growing need for skilled cybersecurity professionals, addressing a global skills shortage. USF's President expressed gratitude for the partnership, emphasizing its importance for student preparedness in a high-demand field.
Rapid7, a leader in cloud risk and threat detection, reported impressive financial results for the year ending December 31, 2022. The Annualized Recurring Revenue (ARR) reached $714 million, a 19% increase year-over-year. Total revenue for the full year was $685 million, up 28% from the previous year. The company generated $78 million in operating cash flow and free cash flow of $41 million. ARR per customer rose by 12%. For 2023, Rapid7 expects ARR to be between $815 million and $825 million, with revenue projected at $771 million to $778 million.
Rapid7 (RPD) will release its Q4 and full year 2022 financial results on February 8, 2023, post-market close. A conference call will occur the same day at 4:30 p.m. ET, accessible via phone or webcast. This is an important update for investors as it will cover business outlook and recent performance, highlighting Rapid7's initiatives in cloud risk management and threat detection for over 10,000 global customers.
For further details, visit Rapid7's investor page.
Rapid7 has launched new cloud security capabilities at AWS re:Invent 2022, aimed at simplifying cloud detection and response (CDR) and enhancing vulnerability assessment. The enhancements include agentless vulnerability assessment for continuous visibility and improved real-time threat detection. Key integrations such as AWS Verified Access and Amazon Security Lake bolster security by providing log visibility and advanced analytics. With over 10,000 global customers, Rapid7 is committed to making cybersecurity accessible and effective for all.
Rapid7’s Managed Detection and Response (MDR) services showcased strong performance in the 2022 MITRE Engenuity ATT&CK Evaluations, highlighting early threat detection and comprehensive reporting.
The evaluation simulated attacks from the OilRig threat group, and Rapid7 excelled in identifying attack techniques across all simulation steps. More than half of organizations rely on security service providers for data protection.
Rapid7’s integrated team offers high-quality digital forensics and incident response, ensuring effective incident management.
BOSTON, Nov. 08, 2022 – Rapid7 (NASDAQ: RPD), a leader in security analytics and automation, has announced upcoming presentations at major technology conferences. Management will present at the 2022 RBC Global Technology Conference on November 15, 2022, at 2:35 p.m. ET in New York, and at the Barclays Global Technology Conference on December 7, 2022, at 3:05 p.m. PT in San Francisco. Live webcasts and replays will be available on the company’s investor relations website.
Rapid7, Inc. (RPD) reported Q3 2022 financial results, achieving annualized recurring revenue (ARR) of $684 million, a 24% increase year-over-year. Total revenue reached $176 million, up 26%, with products revenue at $166 million, a 27% rise. Despite a GAAP operating loss of $23 million, the company achieved a non-GAAP operating income of $13 million. The company raised its full-year guidance for non-GAAP operating income and anticipated a fourth-quarter ARR of $711 million to $717 million, maintaining strong growth metrics.
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