{"id":11606,"date":"2022-02-10T00:22:09","date_gmt":"2022-02-10T00:22:09","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/10\/rapid7-wraps-up-fiscal-2021-with-earnings-and-revenue-beat\/"},"modified":"2022-02-10T00:22:09","modified_gmt":"2022-02-10T00:22:09","slug":"rapid7-wraps-up-fiscal-2021-with-earnings-and-revenue-beat","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/10\/rapid7-wraps-up-fiscal-2021-with-earnings-and-revenue-beat\/","title":{"rendered":"Rapid7 wraps up fiscal 2021 with earnings and revenue beat"},"content":{"rendered":"

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Cybersecurity and compliance technology provider Rapid7 Inc.<\/a> ended its fiscal 2021 year on a high after posting fourth-quarter results today that beat expectations.<\/p>\n

The company reported<\/a> a loss before certain costs such as stock compensation of $8.9 million, or 16 cents per share, on revenue of $151.6 million. That was up 34% from the same period a year ago.<\/p>\n

It was also better than expected, with Wall Street looking for the company to report a bigger 17-cent loss on lower sales of $145.88 million. It was the fourth successive quarter in which Rapid7 has surpassed expectations.<\/p>\n

\u201cWe ended 2021 on a high note, delivering strong fourth quarter results across our security transformation and vulnerability management solutions,\u201d said Rapid7 Chairman and Chief Executive Corey Thomas (pictured). \u201cWe grew ARR by 38% during the year while eclipsing 10,000 customers globally, highlighting our team\u2019s strong execution and the growing need for customers to manage increasingly complex security environments.\u201d<\/p>\n

Rapid7 sells a range of cybersecurity tools designed to help companies detect, protect against and response to security incidents. Its suite of tools encompasses areas such as cloud security, application security, vulnerability risk management, threat detection and intelligence. It also offers tools for compliance, security management and consulting services.<\/p>\n

There seems to be big demand for those kinds of products. Rapid7 reported that it increased its customer base over the last year from 8,718 to 10,283 paying customers.<\/p>\n

The company had more than a few nice stats to show off to investors. During the quarter just gone, Rapid7 said its products revenue came to $141.2 million, up 35% from the same quarter last year. Professional services revenue chipped in with $10.3 million, up 18% from a year ago.<\/p>\n

Rapid7 also revealed solid growth in its annual recurring revenue. That came to $599 million at the end of the quarter, up 38% from a year ago. The company is also squeezing more revenue out of its existing user base, with average ARR per customer rising 17%, to $58,300.<\/p>\n

For the full year fiscal 2021, Rapid7 reported total revenue of $535.3 million, up 30%, and products revenue of $500.8 million, up 31%.<\/p>\n

Looking to the first quarter of its fiscal 2022, Rapid7 said it sees revenue in a range of $153 million to $155 million, with a net loss of between 15 and 18 cents per share. Wall Street is looking for revenue of $148.18 million and a loss of two cents per share.<\/p>\n

Photo: Rapid7\/YouTube<\/a><\/h5>\n
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