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Rapid7 (RPD) investor relations material
Rapid7 Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Annualized recurring revenue (ARR) reached $838M–$840M in Q3 2025, up 2% year-over-year, with total revenue of $218M, both ahead of outlook and reflecting continued market validation of the AI-driven platform.
Free cash flow was $30M in Q3 2025 and exceeded $150M in 2024, with guidance for $125M–$135M in 2025.
Significant leadership changes include new CCO and CFO appointments to accelerate go-to-market and growth, especially in MDR.
The company operates globally with over 11,000 customers, focusing on AI-powered SOC vision and platform consolidation.
Reduced 2025 ARR target to reflect higher confidence and account for operational changes and forecasting variance.
Financial highlights
Q3 2025 revenue was $218M, up 2% year-over-year; product subscription revenue was $210M, also up 2%.
Product gross margin was 75%, total gross margin 73% (non-GAAP), and GAAP gross margin 70%.
Operating income for Q3 2025 was $37M (non-GAAP), with adjusted EBITDA of $44M and non-GAAP net income per share of $0.57.
Free cash flow for Q3 2025 was $30M, with $98M YTD and $150M+ in 2024.
International revenue grew 8% year-over-year, now 25% of total revenue.
Outlook and guidance
Q4 2025 revenue expected at $214M–$216M; full-year 2025 revenue guidance is $856M–$858M, up 1–2% year-over-year.
Full-year 2025 non-GAAP operating income projected at $130M–$135M; non-GAAP net income per share at $2.02–$2.09.
Free cash flow for 2025 guided at $125M–$135M.
Guidance excludes potential impacts from foreign exchange and certain non-recurring items.
Management expects continued revenue growth through increased sales to new and existing customers and ongoing investments in product innovation and sales capacity.
CCO Allan Peters' operational changes for 2026 growth
Microsoft partnership's go-to-market strategy
Underlying business momentum after ARR re-baselining
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Frequently asked questions
Rapid7, Inc. provides cyber security solutions for the enterprise, government organizations and small to mid-sized businesses. The company offers InsightVM to deliver real-time visibility into all of an organization's assets and enables IT administrators to set policies and update vulnerable assets by leveraging threat data from a variety of industry-leading vendors. Its software products include Metasploit, Nexpose, Vulnerability Intelligence Manager and InsightIDR. The company's flagship product is the InsightVM which provides visibility into customers' IT infrastructure and applications. Rapid7, Inc. is based in Boston, Massachusetts.
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