10-Q Filing

RAPID7, INC. CIK: 1560327 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-005356`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rpd-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 42 Cash Flow Statement 60 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$1.13M	USD	Point-in-time
Net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$1.06M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$83.51M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.15M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$18.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$28.56M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,130 and $1,061 at March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNet`	$33.70M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,130 and $1,061 at March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNet`	$49.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.74M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.15M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.02M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$130.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$120.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.31M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$20.16M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$16.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.55M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	464,054.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.01M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	469,029.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.09M	USD	Point-in-time
Goodwill	`Goodwill`	$75.11M	USD	Point-in-time
Goodwill	`Goodwill`	$75.11M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$8.46M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$8.95M	USD	Point-in-time
Other assets	`OtherAssets`	$764.00K	USD	Point-in-time
Other assets	`OtherAssets`	$720.00K	USD	Point-in-time
Total assets	`Assets`	$229.77M	USD	Point-in-time
Total assets	`Assets`	$243.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.50M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$16.35M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$23.50M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$116.90M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$116.56M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.24M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$137.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$145.61M	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$51.08M	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$52.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$201.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$191.91M	USD	Point-in-time
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at March 31, 2017 and December 31, 2016; 0 shares issued at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at March 31, 2017 and December 31, 2016; 0 shares issued at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value per share; 100,000,000 shares authorized at March 31, 2017 and December 31, 2016; 43,309,925 and 43,018,737 shares issued at March 31, 2017 and December 31, 2016, respectively; 42,840,896 and 42,554,683 shares outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$428.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 100,000,000 shares authorized at March 31, 2017 and December 31, 2016; 43,309,925 and 43,018,737 shares issued at March 31, 2017 and December 31, 2016, respectively; 42,840,896 and 42,554,683 shares outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$426.00K	USD	Point-in-time
Treasury stock, at cost, 469,029 and 464,054 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$4.46M	USD	Point-in-time
Treasury stock, at cost, 469,029 and 464,054 shares at March 31, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$4.39M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$435.36M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$441.91M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-39.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-399.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-389.34M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$42.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$37.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$243.30M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$229.77M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Products	`ProductRevenue`	$20.14M	USD	1 Quarter
Products	`ProductRevenue`	$25.94M	USD	1 Quarter
Maintenance and support	`MaintenanceRevenue`	$10.80M	USD	1 Quarter
Maintenance and support	`MaintenanceRevenue`	$8.38M	USD	1 Quarter
Professional services	`SalesRevenueServicesNet`	$6.27M	USD	1 Quarter
Professional services	`SalesRevenueServicesNet`	$8.50M	USD	1 Quarter
Total revenue	`Revenues`	$45.24M	USD	1 Quarter
Total revenue	`Revenues`	$34.80M	USD	1 Quarter
Products	`CostOfRevenueProduct`	$4.71M	USD	1 Quarter
Products	`CostOfRevenueProduct`	$2.60M	USD	1 Quarter
Maintenance and support	`CostOfServicesMaintenanceCosts`	$1.68M	USD	1 Quarter
Maintenance and support	`CostOfServicesMaintenanceCosts`	$1.88M	USD	1 Quarter
Professional services	`CostOfServices`	$5.68M	USD	1 Quarter
Professional services	`CostOfServices`	$4.43M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$12.26M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$8.71M	USD	1 Quarter
Total gross profit	`GrossProfit`	$32.98M	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`	$11.39M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.77M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$24.81M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$43.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.62M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.47M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$169.00K	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`	$-115.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.44M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.42M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$129.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$142.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.54M	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Weighted-average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.55M	shares	1 Quarter
Weighted-average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	42.02M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.62M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.28M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.52M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$316.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$124.00K	USD	1 Quarter
Foreign currency re-measurement loss (gain)	`ForeignCurrencyTransactionGainLossBeforeTax`	$223.00K	USD	1 Quarter
Foreign currency re-measurement loss (gain)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-44.00K	USD	1 Quarter
Other non-cash expenses	`OtherNoncashExpense`	$97.00K	USD	1 Quarter
Other non-cash expenses	`OtherNoncashExpense`	$78.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.05M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.18M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.47M	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`	$-244.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.22M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-7.43M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.54M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.42M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-166.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-266.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.59M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.32M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.09M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.33M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$7.40M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$900.00K	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.09M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.84M	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$68.00K	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	-	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$169.00K	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 employee stock purchase plan	`ProceedsFromIssuanceOfEmployeeStockPurchasePlan`	$1.50M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$547.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$775.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-512.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.10M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$151.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-76.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.49M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.04M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.66M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$83.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$86.55M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.15M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.66M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$83.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$86.55M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.15M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$65.00K	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`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.54M	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$-20.00K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.58M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.56M	USD	1 Quarter

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