10-Q Filing

RAPID7, INC. CIK: 1560327 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-587952`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	rpd-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 45 Cash Flow Statement 54

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$730.00K	USD	Point-in-time
Net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$728.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$36.82M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$83.51M	USD	Point-in-time
Cash	`Cash`	$86.55M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$33.34M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivables, net of allowance for doubtful accounts of $728 and $730 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNet`	$29.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivables, net of allowance for doubtful accounts of $728 and $730 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNet`	$44.16M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.15M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$136.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.61M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	41.94M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.53M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.28M	shares	Point-in-time
Goodwill	`Goodwill`	$74.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	41.88M	shares	Point-in-time
Goodwill	`Goodwill`	$74.56M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	41.54M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	401,626.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.38M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	401,626.00	shares	Point-in-time
Other assets	`OtherAssets`	$214.00K	USD	Point-in-time
Other assets	`OtherAssets`	$481.00K	USD	Point-in-time
Total assets	`Assets`	$213.78M	USD	Point-in-time
Total assets	`Assets`	$230.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.04M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$24.71M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.42M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$90.08M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$87.92M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$767.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$115.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$106.93M	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$41.78M	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$42.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.32M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.46M	USD	Point-in-time
Total liabilities	`Liabilities`	$153.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$162.49M	USD	Point-in-time
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at March 31, 2016 and December 31, 2015; 0 shares issued at March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at March 31, 2016 and December 31, 2015; 0 shares issued at March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized at March 31, 2016 and December 31, 2015; 42,277,059 and 41,942,026 shares issued at March 31, 2016 and December 31, 2015, respectively; 41,875,433 and 41,540,400 shares outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$415.00K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized at March 31, 2016 and December 31, 2015; 42,277,059 and 41,942,026 shares issued at March 31, 2016 and December 31, 2015, respectively; 41,875,433 and 41,540,400 shares outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$419.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$411.52M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$419.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-340.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-355.92M	USD	Point-in-time
Treasury stock, at cost, 401,626 shares at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$3.53M	USD	Point-in-time
Treasury stock, at cost, 401,626 shares at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$3.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$60.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$68.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$230.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$213.78M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Products	`ProductRevenue`	$13.64M	USD	1 Quarter
Products	`ProductRevenue`	$20.14M	USD	1 Quarter
Maintenance and support	`MaintenanceRevenue`	$8.38M	USD	1 Quarter
Maintenance and support	`MaintenanceRevenue`	$5.80M	USD	1 Quarter
Professional services	`SalesRevenueServicesNet`	$6.27M	USD	1 Quarter
Professional services	`SalesRevenueServicesNet`	$4.13M	USD	1 Quarter
Total revenue	`Revenues`	$34.80M	USD	1 Quarter
Total revenue	`Revenues`	$23.57M	USD	1 Quarter
Products	`CostOfRevenueProduct`	$1.55M	USD	1 Quarter
Products	`CostOfRevenueProduct`	$2.60M	USD	1 Quarter
Maintenance and support	`CostOfServicesMaintenanceCosts`	$1.21M	USD	1 Quarter
Maintenance and support	`CostOfServicesMaintenanceCosts`	$1.68M	USD	1 Quarter
Professional services	`CostOfServices`	$3.74M	USD	1 Quarter
Professional services	`CostOfServices`	$4.43M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$6.49M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$8.71M	USD	1 Quarter
Total gross profit	`GrossProfit`	$17.08M	USD	1 Quarter
Total gross profit	`GrossProfit`	$26.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$12.34M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.41M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$13.23M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.05M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.59M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.62M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.62M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-685.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-15.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$196.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-305.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.44M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.61M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$142.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$74.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.68M	USD	1 Quarter
Accretion of preferred stock to redemption value	`TemporaryEquityIncreaseDecreaseToRedemptionValueAdjustment`	$11.27M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-18.95M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.58M	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.50	USD	1 Quarter
Weighted-average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.64M	shares	1 Quarter
Weighted-average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.55M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.13M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$138.00K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$78.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$575.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.52M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$165.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$124.00K	USD	1 Quarter
Foreign currency re-measurement (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$223.00K	USD	1 Quarter
Foreign currency re-measurement (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-241.00K	USD	1 Quarter
Accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$-4.18M	USD	1 Quarter
Accounts receivables	`IncreaseDecreaseInAccountsReceivable`	$-14.05M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$778.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$716.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-500.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-688.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.93M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.43M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.59M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.54M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$44.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-166.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.01M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.59M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.09M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$573.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.09M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-573.00K	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$68.00K	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$59.00K	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.09M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	$2.10M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$547.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$408.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-512.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$349.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashContinuingOperations`	$151.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashContinuingOperations`	$-244.00K	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-3.48M	USD	1 Quarter
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-3.04M	USD	1 Quarter
Cash, beginning of period	`Cash`	$36.82M	USD	Point-in-time
Cash, beginning of period	`Cash`	$83.51M	USD	Point-in-time
Cash, beginning of period	`Cash`	$86.55M	USD	Point-in-time
Cash, beginning of period	`Cash`	$33.34M	USD	Point-in-time
Cash, end of period	`Cash`	$36.82M	USD	Point-in-time
Cash, end of period	`Cash`	$83.51M	USD	Point-in-time
Cash, end of period	`Cash`	$86.55M	USD	Point-in-time
Cash, end of period	`Cash`	$33.34M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$58.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$274.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$549.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.