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Rapid7, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenue to $214,654,000 from $198,843,000 in the same quarter the previous year. The increase is attributed to growth in product subscription revenue.
Cost of revenue for the quarter was $63,017,000, representing 29% of total revenue, compared to 29% in the same quarter of the previous year. This stability in cost ratio is due to balanced growth in costs and revenue.
Operating expenses for the quarter were $137,676,000, down from $157,054,000 in the previous year, with the decline attributed to reduced restructuring and impairment charges.
Net income for the quarter was $16,554,000, compared to a net loss of $76,611,000 in the previous year. This improvement is mainly due to the absence of significant restructuring and impairment costs.
Cash provided by operating activities was $43,969,000, while cash used in investing and financing activities was $99,488,000 and $6,799,000, respectively.
Rapid7 had a working capital of $672,622,000 as of September 30, 2024. The company acknowledges its focus on maintaining robust financial health and operational efficiency.
The filing also details the acquisition of Noetic Cyber, Inc., a provider of cyber asset attack surface management, for a purchase price of $51,000,000.
Rapid7 continues to expand its security operations platform and emphasizes its commitment to enhancing customer value through integrated security solutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rapid7 Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.