$RPD
Rapid7, Inc.

2015 Q4 Form 10-Q Financial Statement

#000119312515376069 Filed on November 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $32.90M $28.31M $20.33M
YoY Change 50.23% 39.27%
Cost Of Revenue $9.000M $7.063M $4.656M
YoY Change 57.89% 51.7%
Gross Profit $23.90M $21.25M $15.67M
YoY Change 47.53% 35.58%
Gross Profit Margin 72.64% 75.05% 77.1%
Selling, General & Admin $29.90M $21.80M $15.29M
YoY Change 75.88% 42.58%
% of Gross Profit 125.1% 102.6% 97.56%
Research & Development $13.90M $9.945M $6.330M
YoY Change 113.85% 57.11%
% of Gross Profit 58.16% 46.8% 40.39%
Depreciation & Amortization $1.650M $1.100M $800.0K
YoY Change 50.0% 37.5%
% of Gross Profit 6.9% 5.18% 5.1%
Operating Expenses $44.70M $31.75M $21.62M
YoY Change 83.95% 46.83%
Operating Profit -$20.80M -$10.50M -$5.948M
YoY Change 156.79% 76.5%
Interest Expense -$100.0K -$1.067M -$703.0K
YoY Change -87.5% 51.78%
% of Operating Profit
Other Income/Expense, Net -$49.00K -$227.0K
YoY Change -78.41%
Pretax Income -$21.00M -$11.61M -$6.878M
YoY Change 135.96% 68.86%
Income Tax $100.0K $211.0K $89.00K
% Of Pretax Income
Net Earnings -$21.10M -$11.83M -$6.967M
YoY Change 134.44% 69.73%
Net Earnings / Revenue -64.13% -41.77% -34.27%
Basic Earnings Per Share -$0.79 $0.43
Diluted Earnings Per Share -$523.6K -$0.79 -$0.25
COMMON SHARES
Basic Shares Outstanding 41.59M shares 33.02M shares 12.79M shares
Diluted Shares Outstanding 33.02M shares 27.65M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $86.60M $124.0M
YoY Change
Cash & Equivalents $86.55M $124.0M
Short-Term Investments
Other Short-Term Assets $6.100M $4.200M
YoY Change
Inventory
Prepaid Expenses
Receivables $44.20M $32.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $136.9M $160.1M
YoY Change 105.99%
LONG-TERM ASSETS
Property, Plant & Equipment $7.532M $7.356M
YoY Change -4.92%
Goodwill $74.57M $15.85M
YoY Change 561.92%
Intangibles $11.39M $2.482M
YoY Change 884.86%
Long-Term Investments
YoY Change
Other Assets $200.0K $700.0K
YoY Change
Total Long-Term Assets $93.70M $26.42M
YoY Change 356.56%
TOTAL ASSETS
Total Short-Term Assets $136.9M $160.1M
Total Long-Term Assets $93.70M $26.42M
Total Assets $230.6M $186.5M
YoY Change 165.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.038M $2.868M
YoY Change -42.36%
Accrued Expenses $24.71M $15.73M
YoY Change 107.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $115.8M $93.97M
YoY Change 55.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $4.319M $4.305M
YoY Change 2.39%
Total Long-Term Liabilities $4.319M $4.305M
YoY Change -79.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.8M $93.97M
Total Long-Term Liabilities $4.319M $4.305M
Total Liabilities $162.5M $134.1M
YoY Change 32.93%
SHAREHOLDERS EQUITY
Retained Earnings -$340.3M -$319.2M
YoY Change 39.79%
Common Stock $415.0K $394.0K
YoY Change 229.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.526M $3.526M
YoY Change 0.0%
Treasury Stock Shares 401.6K shares 401.6K shares
Shareholders Equity $68.08M $52.46M
YoY Change
Total Liabilities & Shareholders Equity $230.6M $186.5M
YoY Change 165.12%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$21.10M -$11.83M -$6.967M
YoY Change 134.44% 69.73%
Depreciation, Depletion And Amortization $1.650M $1.100M $800.0K
YoY Change 50.0% 37.5%
Cash From Operating Activities $70.00K $2.270M -$940.0K
YoY Change -96.5% -341.49%
INVESTING ACTIVITIES
Capital Expenditures -$1.300M -$1.640M -$280.0K
YoY Change 42.86% 485.71%
Acquisitions
YoY Change
Other Investing Activities -$35.47M $0.00 $0.00
YoY Change
Cash From Investing Activities -$36.77M -$1.640M -$280.0K
YoY Change 3940.66% 485.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -670.0K 96.40M -20.00K
YoY Change -102.44% -482100.0%
NET CHANGE
Cash From Operating Activities 70.00K 2.270M -940.0K
Cash From Investing Activities -36.77M -1.640M -280.0K
Cash From Financing Activities -670.0K 96.40M -20.00K
Net Change In Cash -37.37M 97.03M -1.240M
YoY Change -230.76% -7925.0%
FREE CASH FLOW
Cash From Operating Activities $70.00K $2.270M -$940.0K
Capital Expenditures -$1.300M -$1.640M -$280.0K
Free Cash Flow $1.370M $3.910M -$660.0K
YoY Change -52.92% -692.42%

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3344000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
14095000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2456000
us-gaap Operating Income Loss
OperatingIncomeLoss
-25689000
us-gaap Gross Profit
GrossProfit
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-191000
us-gaap Maintenance Revenue
MaintenanceRevenue
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-90000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-28369000
us-gaap Income Taxes Paid Net
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294000
us-gaap Stock Issued1
StockIssued1
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-77973000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
187000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18540000
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
87161000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
382000
us-gaap Share Based Compensation
ShareBasedCompensation
2833000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
25068000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
43952000
us-gaap Operating Expenses
OperatingExpenses
83080000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-6183000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24490000
us-gaap Cost Of Services
CostOfServices
11766000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
483000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1591000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-58000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1275000
us-gaap Allocated Share Based Compensation Expense
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2833000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14638000
us-gaap Amortization Of Debt Discount Premium
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1129000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2646000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1601000
us-gaap Paid In Kind Interest
PaidInKindInterest
130000
us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
4127000
us-gaap Effect Of Exchange Rate On Cash Continuing Operations
EffectOfExchangeRateOnCashContinuingOperations
-140000
us-gaap Depreciation
Depreciation
2900000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3700000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
576000
us-gaap Cost Of Revenue
CostOfRevenue
20282000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
4582000
rpd Proceeds From Issuance Of Initial Public Offering And Private Placement
ProceedsFromIssuanceOfInitialPublicOfferingAndPrivatePlacement
112916000
rpd Initial Public Offering Cost Incurred But Not Yet Paid
InitialPublicOfferingCostIncurredButNotYetPaid
641000
rpd Product Revenue
ProductRevenue
44524000
rpd Cost Of Revenue Product
CostOfRevenueProduct
4389000
rpd Conversion Charge Relating To Ipo Participation Payment
ConversionChargeRelatingToIpoParticipationPayment
14161000
rpd Employee Stock Purchase Plan Purchase Price As Percentage Of Market Value
EmployeeStockPurchasePlanPurchasePriceAsPercentageOfMarketValue
0.85 pure
rpd Temporary Equity Increase Decrease To Redemption Value Adjustment
TemporaryEquityIncreaseDecreaseToRedemptionValueAdjustment
35061000
CY2015Q2 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.017 pure
CY2015Q2 rpd Related Party Transaction Maturity Period
RelatedPartyTransactionMaturityPeriod
P18M
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
908107 shares
CY2014Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27651192 shares
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1164643 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12790450 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-6967000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5469000
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
20329000
CY2014Q3 us-gaap Revenues
Revenues
20329000
CY2014Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-703000
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2890000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5948000
CY2014Q3 us-gaap Gross Profit
GrossProfit
15673000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-227000
CY2014Q3 us-gaap Maintenance Revenue
MaintenanceRevenue
5011000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6878000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6967000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
89000
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
12155000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2014Q3 us-gaap Cost Of Services
CostOfServices
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CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
632000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
CY2014Q3 us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
1118000
CY2014Q3 us-gaap Depreciation
Depreciation
800000
CY2014Q3 us-gaap Cost Of Revenue
CostOfRevenue
4656000
CY2014Q3 rpd Product Revenue
ProductRevenue
12428000
CY2014Q3 rpd Cost Of Revenue Product
CostOfRevenueProduct
1105000
CY2014Q3 rpd Temporary Equity Increase Decrease To Redemption Value Adjustment
TemporaryEquityIncreaseDecreaseToRedemptionValueAdjustment
-12436000
CY2014Q3 rpd Temporary Equity Increase Decrease Accretion To Redemption Value
TemporaryEquityIncreaseDecreaseAccretionToRedemptionValue
-12436000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.79
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33020484 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33020484 shares
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-11825000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
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CY2015Q3 us-gaap Revenues
Revenues
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CY2015Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1067000
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
5070000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-10498000
CY2015Q3 us-gaap Gross Profit
GrossProfit
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CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-49000
CY2015Q3 us-gaap Maintenance Revenue
MaintenanceRevenue
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CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11614000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-25986000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
211000
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
16265000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
31747000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9945000
CY2015Q3 us-gaap Cost Of Services
CostOfServices
4054000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1427000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5537000
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2015Q3 us-gaap Cost Of Services Maintenance Costs
CostOfServicesMaintenanceCosts
1505000
CY2015Q3 us-gaap Depreciation
Depreciation
1100000
CY2015Q3 us-gaap Cost Of Revenue
CostOfRevenue
7063000
CY2015Q3 rpd Product Revenue
ProductRevenue
16240000
CY2015Q3 rpd Cost Of Revenue Product
CostOfRevenueProduct
1504000
CY2015Q3 rpd Conversion Charge Relating To Ipo Participation Payment
ConversionChargeRelatingToIpoParticipationPayment
14161000

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