$RPD
Rapid7, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515296245 Filed on August 19, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $25.79M $17.88M
YoY Change 44.24%
Cost Of Revenue $6.727M $4.210M
YoY Change 59.79%
Gross Profit $19.06M $13.67M
YoY Change 39.45%
Gross Profit Margin 73.92% 76.45%
Selling, General & Admin $19.51M $14.74M
YoY Change 32.37%
% of Gross Profit 102.32% 107.79%
Research & Development $8.131M $6.328M
YoY Change 28.49%
% of Gross Profit 42.65% 46.29%
Depreciation & Amortization $1.000M $900.0K
YoY Change 11.11%
% of Gross Profit 5.25% 6.58%
Operating Expenses $27.64M $21.06M
YoY Change 31.21%
Operating Profit -$8.573M -$7.393M
YoY Change 15.96%
Interest Expense -$737.0K -$703.0K
YoY Change 4.84%
% of Operating Profit
Other Income/Expense, Net $163.0K $4.000K
YoY Change 3975.0%
Pretax Income -$9.147M -$8.092M
YoY Change 13.04%
Income Tax $97.00K $95.00K
% Of Pretax Income
Net Earnings -$9.244M -$8.187M
YoY Change 12.91%
Net Earnings / Revenue -35.84% -45.79%
Basic Earnings Per Share
Diluted Earnings Per Share -$237.1K -$640.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.00M
YoY Change
Cash & Equivalents $27.00M
Short-Term Investments
Other Short-Term Assets $6.300M
YoY Change
Inventory
Prepaid Expenses
Receivables $26.40M
Other Receivables $0.00
Total Short-Term Assets $59.66M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $7.607M
YoY Change
Goodwill $15.76M
YoY Change
Intangibles $2.767M
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K
YoY Change
Total Long-Term Assets $26.81M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $59.66M
Total Long-Term Assets $26.81M
Total Assets $86.47M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.990M
YoY Change
Accrued Expenses $12.77M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.976M
YoY Change
Total Short-Term Liabilities $86.76M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $13.17M
YoY Change
Other Long-Term Liabilities $5.050M
YoY Change
Total Long-Term Liabilities $18.22M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $86.76M
Total Long-Term Liabilities $18.22M
Total Liabilities $136.5M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$293.2M
YoY Change
Common Stock $132.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.526M
YoY Change
Treasury Stock Shares 401.6K shares
Shareholders Equity -$296.6M
YoY Change
Total Liabilities & Shareholders Equity $86.47M
YoY Change

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$9.244M -$8.187M
YoY Change 12.91%
Depreciation, Depletion And Amortization $1.000M $900.0K
YoY Change 11.11%
Cash From Operating Activities -$1.240M -$2.280M
YoY Change -45.61%
INVESTING ACTIVITIES
Capital Expenditures -$630.0K -$880.0K
YoY Change -28.41%
Acquisitions
YoY Change
Other Investing Activities -$3.340M $0.00
YoY Change
Cash From Investing Activities -$3.970M -$880.0K
YoY Change 351.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.290M -770.0K
YoY Change 67.53%
NET CHANGE
Cash From Operating Activities -1.240M -2.280M
Cash From Investing Activities -3.970M -880.0K
Cash From Financing Activities -1.290M -770.0K
Net Change In Cash -6.500M -3.930M
YoY Change 65.39%
FREE CASH FLOW
Cash From Operating Activities -$1.240M -$2.280M
Capital Expenditures -$630.0K -$880.0K
Free Cash Flow -$610.0K -$1.400M
YoY Change -56.43%

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-51987000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1368000
us-gaap Paid In Kind Interest
PaidInKindInterest
51000
us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
2622000
us-gaap Effect Of Exchange Rate On Cash Continuing Operations
EffectOfExchangeRateOnCashContinuingOperations
-87000
us-gaap Depreciation
Depreciation
1900000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2361000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
376000
us-gaap Cost Of Revenue
CostOfRevenue
13219000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
4493000
rpd Initial Public Offering Cost Incurred But Not Yet Paid
InitialPublicOfferingCostIncurredButNotYetPaid
610000
rpd Basic And Diluted Earnings Per Share Pro Forma
BasicAndDilutedEarningsPerShareProForma
-0.80
rpd Product Revenue
ProductRevenue
28284000
rpd Cost Of Revenue Product
CostOfRevenueProduct
2885000
rpd Pro Forma Net Income Loss Available To Common Stockholders Basic And Diluted
ProFormaNetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-31087000
rpd Pro Forma Adjustment To Common Stock Issuable In Connection With Ipo Participation Payment
ProFormaAdjustmentToCommonStockIssuableInConnectionWithIpoParticipationPayment
1939990 shares
rpd Pro Forma Adjustment To Reflect Common Stock Issuable Upon Closing Of Initial Public Offering
ProFormaAdjustmentToReflectCommonStockIssuableUponClosingOfInitialPublicOffering
7417500 shares
rpd Pro Forma Adjustment To Reflect Common Stock Issuable Upon Closing Of Private Placement Issuance
ProFormaAdjustmentToReflectCommonStockIssuableUponClosingOfPrivatePlacementIssuance
312500 shares
rpd Conversion Charge Relating To Ipo Participation Payment
ConversionChargeRelatingToIpoParticipationPayment
14161000
CY2015Q2 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.017 pure
CY2015Q2 rpd Related Party Transaction Maturity Period
RelatedPartyTransactionMaturityPeriod
P18M
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.85
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17632113 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12762938 shares
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-8187000
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
17880000
CY2014Q2 us-gaap Revenues
Revenues
17880000
CY2014Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-703000
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2393000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7393000
CY2014Q2 us-gaap Gross Profit
GrossProfit
13670000
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11561000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
21063000
CY2014Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
15464000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6328000
CY2014Q2 us-gaap Cost Of Services
CostOfServices
2036000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000
CY2014Q2 us-gaap Maintenance Revenue
MaintenanceRevenue
4474000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8092000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
95000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
25790000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
631000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3174000
CY2014Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
CY2014Q2 us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
1152000
CY2014Q2 us-gaap Depreciation
Depreciation
900000
CY2014Q2 us-gaap Cost Of Revenue
CostOfRevenue
4210000
CY2014Q2 rpd Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-23651000
CY2014Q2 rpd Product Revenue
ProductRevenue
11013000
CY2014Q2 rpd Cost Of Revenue Product
CostOfRevenueProduct
1022000
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.59
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21169248 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12745051 shares
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-9244000
CY2015Q2 us-gaap Revenues
Revenues
25790000
CY2015Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-737000
CY2015Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
4898000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-8573000
CY2015Q2 us-gaap Gross Profit
GrossProfit
19063000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
163000
CY2015Q2 us-gaap Maintenance Revenue
MaintenanceRevenue
6253000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9147000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
97000
CY2015Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
23788000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14457000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
27636000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8131000
CY2015Q2 us-gaap Cost Of Services
CostOfServices
3976000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
831000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5048000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2015Q2 us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
1412000
CY2015Q2 us-gaap Depreciation
Depreciation
1000000
CY2015Q2 us-gaap Cost Of Revenue
CostOfRevenue
6727000
CY2015Q2 rpd Basic And Diluted Earnings Per Share Pro Forma
BasicAndDilutedEarningsPerShareProForma
-0.60
CY2015Q2 rpd Pro Forma Weighted Average Shares Outstanding Basic And Diluted
ProFormaWeightedAverageSharesOutstandingBasicAndDiluted
38797656 shares
CY2015Q2 rpd Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-33032000
CY2015Q2 rpd Product Revenue
ProductRevenue
14639000
CY2015Q2 rpd Cost Of Revenue Product
CostOfRevenueProduct
1339000
CY2015Q2 rpd Pro Forma Net Income Loss Available To Common Stockholders Basic And Diluted
ProFormaNetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-23405000
CY2015Q2 rpd Pro Forma Adjustment To Common Stock Issuable In Connection With Ipo Participation Payment
ProFormaAdjustmentToCommonStockIssuableInConnectionWithIpoParticipationPayment
1939990 shares
CY2015Q2 rpd Pro Forma Adjustment To Reflect Common Stock Issuable Upon Closing Of Initial Public Offering
ProFormaAdjustmentToReflectCommonStockIssuableUponClosingOfInitialPublicOffering
7417500 shares
CY2015Q2 rpd Pro Forma Adjustment To Reflect Common Stock Issuable Upon Closing Of Private Placement Issuance
ProFormaAdjustmentToReflectCommonStockIssuableUponClosingOfPrivatePlacementIssuance
312500 shares
CY2015Q2 rpd Conversion Charge Relating To Ipo Participation Payment
ConversionChargeRelatingToIpoParticipationPayment
14161000

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