EarningsQ2 2026 Earnings Report
MX:RPD Q2 2026 EPS Results
Actual EPS$7.96
Consensus EPS$6.26
Beat/MissBeat by +$1.70
One Year Ago EPS$10.50
MX:RPD Q2 2026 Revenue Results
Actual Revenue$3.82B
Expected Revenue$3.77B
Beat/MissBeat by +$47.93M
YoY Revenue Growth-1.55%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeAfter Close
Conference CallMonday, August 10, 2026
MX:RPD Upcoming Earnings
Rapid7's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RPD Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a balanced picture: clear operational progress on profitability, cash generation, margin guidance upgrades, and focused strategic direction (AI-first, core platform) are offset by near-term revenue/ARR declines, exposure management weakness, gross margin compression, and a meaningful restructuring that impacts ~12% of employees. Management beat guidance for the quarter and raised margin targets, but growth challenges and transformation timing create uncertainty. Overall, there is cautious optimism—improved financial discipline and cash position, but the company must execute over multiple quarters to translate investments into durable ARR growth.Company Guidance
ARR and Core Growth Stabilization
Total ARR ended Q2 at $824M. Core platform solutions (D&R + exposure management) represent over 80% of ARR and grew ~1% year-over-year, led by Detection & Response which grew ~5% YoY and represents ~55% of total ARR.
Beat on Guided Metrics and Profitability
Company exceeded guidance across all guided metrics for Q2 and reported non-GAAP operating income of $28.9M (13.7% margin) and non-GAAP EPS of $0.44, favorable to guidance.
Strong Cash and Free Cash Flow
Q2 free cash flow was $31.9M. Cash, cash equivalents, and short-term investments totaled ~$703M, and management reiterated full-year free cash flow guidance of ~$130M (≈15.5% FCF margin). A $200M undrawn credit facility plus cash position supports repayment plans for $600M convertible notes due March 2027.
Raised Full-Year Margin Guidance
Management raised full-year non-GAAP operating income guidance to $129M–$133M (implying a full-year non-GAAP operating margin of ~15.6%) and expects to exit the year at approximately 20% non-GAAP operating margin in Q4.
Customer Base and ARPC
Ended the quarter with over 11.5k customers and average ARR per customer of approximately $70k, indicating continued enterprise customer engagement.
Strategic Focus and AI Investment
Leadership announced a concentrated strategy to prioritize core offerings (detection & response, exposure management) and invest a meaningful portion of cost savings into the AI foundation (including the Kenzo acquisition) and product/engineering to drive future innovation.
Operational Execution Signals
Sales productivity improvements and pipeline work under new commercial leadership were cited as encouraging; management reported strong collections contributing to cash generation and noted competitive wins in D&R indicating healthy go-to-market execution.
MX:RPD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed