10-Q · May 5, 2026
Rapid7 reported a slight decline in total revenue to $209.7M for Q1 2026, down 0.3% from $210.3M a year ago, and significantly below the consensus estimate of $207.9M. GAAP EPS came in at $0.02, missing expectations of…
Earnings analysis · 10-Q
RPD earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q extract is concentrated on market risk, controls, and other-information disclosures and does not include the income statement, segment results, balance-sheet accounts, cash-flow statement, or MD&A…
Read full summary
The supplied 10-Q extract is concentrated on market risk, controls, and other-information disclosures and does not include the income statement, segment results, balance-sheet accounts, cash-flow statement, or MD&A needed to quantify quarterly operating trends. Liquidity was solid at $425.6 million of cash and cash equivalents plus $277.0 million of investments, while disclosed interest-rate and foreign-exchange sensitivity was not material under the filing’s 10% hypothetical scenarios. The filing reports no material changes to the prior 10-K risk factors and confirms effective disclosure controls.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Strong liquidity position
Cash and cash equivalents totaled $425.6 million as of June 30, 2026, while investments in U.S. government agencies totaled $277.0 million, providing substantial liquidity for operations and capital needs.
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Debt obligations are fixed
The company reported $576.0 million fair value for its 2027 Notes and $253.5 million for its 2029 Notes as of June 30, 2026. Management states that market-value changes do not affect financial position, cash flows, or results of operations because the debt obligations are fixed.
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Current FX exposure appears contained
A hypothetical 10% adverse change in foreign-currency exchange rates would not have had a material effect on financial condition or results of operations as of June 30, 2026.
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Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective at the reasonable-assurance level as of June 30, 2026.
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No material control deterioration
The company reported no change in internal control over financial reporting during the quarter that materially affected, or was reasonably likely to materially affect, those controls.
What to watch
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No material risk-factor updates
The 10-Q states that there were no material changes to the risk factors disclosed in the December 31, 2025 Form 10-K. Accordingly, no new or modified risk-factor developments were identified in the supplied filing.
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Interest-rate and investment risk
Although a hypothetical 10% interest-rate increase or decrease would not have had a material impact on the financial statements as of June 30, 2026, changes in rates could still cause investment income to fluctuate or produce principal losses if securities are sold before maturity.
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Unhedged foreign-currency exposure
The company primarily earns revenue in U.S. dollars while expenses are also denominated in the currencies of the United Kingdom, Europe, Canada, Australia, Israel, Singapore, and Japan. Management notes that hedging effectiveness may be limited, although the hypothetical 10% adverse FX scenario was not material as of June 30, 2026.
Management's outlook
The provided 10-Q extract contains no quantitative revenue or EPS outlook. Numeric guidance was provided separately in the August 10, 2026 earnings release, not in the supplied 10-Q text.
Earlier filings 4
10-K · February 19, 2026
Rapid7 reports full-year revenue of $859.8 million in 2025 (13% CAGR from $535.4 million in 2021) with recurring revenue at 96% of total and a global customer base of more than 11,500 as of December 31, 2025. The…
10-Q · November 5, 2025
Rapid7 reported Q3 revenue of $217.96 million, up modestly from $214.65 million a year ago, with product subscriptions driving the increase. Gross margin remained around ~70.2% while income from operations fell to $5.90…
10-Q · November 7, 2024
Rapid7 reported Q3 revenue of $214.654M, up $15.811M (+7.96%) versus Q3 2023, with gross profit of $151.637M (70.7% margin) and GAAP operating income of $13.961M (6.5% margin). The company swung to GAAP net income of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.