Rapid7, Inc. (RPD)

Revenue for the six months ended June 30, 2026 was $420.6 million, down 0.9 percent from the same period in 2025 2.

The company said the drop came mainly from non-core standalone products 2. Managed detection and response, a service where analysts watch a customer's systems and act on threats, grew and partly offset it 2.

On August 7, 2026, the board approved a restructuring plan that includes cutting the workforce by about 12 percent 3. The plan aims to simplify operations and put money behind the core platform 3.

Wael Mohamed became chief executive on June 1, 2026, and Corey Thomas became executive chairman 2.

The company describes itself as a cybersecurity software and service provider that has worked with customers for twenty-five years 1.

Revenue rose from $535.4 million in 2021 to $859.8 million in 2025, a 13 percent compound annual growth rate, meaning the average yearly pace of growth 1.

For years the business lost money 1. It posted a net loss in each year before 2024, including $152.8 million in 2023 1.

In August 2023 the board approved a restructuring plan to improve efficiency and lower costs 1. It cut about 16 percent of the workforce 1.

Profit followed 1. The company earned net income of $23.4 million in 2025 and $25.5 million in 2024 1.

Revenue grew 1.9 percent to $859.8 million in 2025, driven mostly by renewals, upselling and cross-selling to existing customers 1. Revenue from new customers declined 1.

In July 2024 it bought Noetic Cyber for $51.2 million of fair value 2. In March 2026 it bought Kenzo Security, which builds AI software that runs security investigations on its own, for $25.5 million of fair value 2.

It also borrowed through convertible notes, debt that can turn into shares 2. It issued $600.0 million due in 2027 and $300.0 million due in 2029 2.

Platform and products

The Command Platform is a cloud system that pulls security data from a customer's computers, networks and cloud accounts into one view of weaknesses and threats 1. Managed Threat Complete, its flagship, pairs round-the-clock monitoring and incident response by its analysts with managed vulnerability checks 1.

Incident Command is a newer product for spotting and investigating attacks, and Exposure Command maps where a customer is open to attack 1. Other lines cover cloud security, vulnerability management, application testing and penetration testing, where staff try to break in to find weak spots 1.

Product subscriptions brought in $831.3 million in 2025, up 2.8 percent, while professional services fell 18.9 percent to $28.5 million 1. Recurring revenue, meaning subscriptions and support that renew, was 96 percent of 2025 revenue 1.

The company had over 11,500 customers in 150 countries, including 36 percent of the Fortune 100, and no customer was more than 1 percent of revenue 1.

People, offices and rivals

The company had 2,613 full-time employees at the end of 2025, with 986 in sales and marketing and 888 in research and development 1.

Its Boston headquarters covers about 147,000 square feet of leased space 1. Its security operations centers sit in the U.S., Ireland, India, Australia and the Czech Republic 1.

It competes with security platform providers, managed detection and response firms, cloud security vendors and others 1. It says some rivals have greater resources 1.

On August 27, 2026, four directors resigned and the board named Maria Barrett and Julian Waits, with the board set at nine seats 4. The company paid the resigning directors the cash pay they would have earned through June 30, 2027 4.

The umbrella, in words

The company sells under its own name, with product brands such as Command Platform, Incident Command, Exposure Command and Surface Command, and it backs the open Metasploit testing framework 1. Its common stock is listed on the Nasdaq Global Market under the symbol RPD 3.

It owns whole companies it bought: Noetic Cyber, bought July 3, 2024, and Kenzo Security, bought March 26, 2026 2.

It invested $5.5 million in a private cybersecurity company on October 30, 2025, through a simple agreement for future equity, a contract to receive shares later 2.

Its Boston headquarters is leased, and it also leases international offices in Belfast, Prague, Melbourne, Reading, Tel Aviv, Singapore and Pune 1. J Benjamin Nye became lead independent director on August 27, 2026, succeeding Marc Brown, who stays on as a director 4.

The company expects the 2026 restructuring plan to be substantially complete by the end of the fourth quarter of 2026 3. Local law and consultation rules may stretch some cuts beyond that 3.

It expects charges of about $10 million to $11 million, most of them in the third and fourth quarters of 2026 3.

The company says it is preparing to repay its convertible notes due March 15, 2027 from cash, without taking on more debt 2. It held $425.6 million in cash, cash equivalents and restricted cash at the end of June 2026 2.

Julian Waits is to stay as chief experience officer until a successor is named, then serve in a non-executive role until December 31, 2026 4.

Its stated growth plan is more product investment, more new customers, more selling to current ones and closer ties with partners such as ServiceNow, Microsoft, AWS, GCP and Palo Alto Networks 1.

No clue on file points to a new direction yet.