Rapid7, Inc.
RPD · Services-Prepackaged Software · 66.8M shares · +6%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$108M (gross $4M, SBC $112M)
Reference price $6.35 · est. market cap ~$424M — last insider sale, 2026-04-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62Cybersecurity vendor with decent FCF but decelerated growth and thin margins.
Strengths
- Positive free cash flow — FCF $146.2M (46th), FCF margin 17.0%
- Solid gross margin — 70.3% (40th)
- Profitable returns on equity — ROE 15.1% (69th)
Risks
- Stalled growth — revenue +1.9% (31st)
- Thin operating margin — 1.3% (49th)
- Convertible-note leverage; competitive security market — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~96% of revenue from one customer/distributor — For the years ended December 31, 2025, 2024 and 2023, recurring revenue, defined as revenue from term software licenses, content subscriptions, managed services, cloud-based subscriptions and maintena
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Strong balance sheetStrong balance sheet — $659M cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
70.3%
Operating margin
1.3%
Net margin
2.7%
Return on equity
15.1%
Return on assets
1.4%
Revenue growth (QoQ)
-3.5%
Net-income growth
-8.4%
Current ratio
1.3×
Free cash flow
$146M
EBITDA
$57M
Tangible book value
-$486M
Cash & investments
$659M
Stock comp / revenue
12.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | MOHAMED WAEL | Grant | 842K | — |
| 2026-06-09 | Galligan Kevin G. | Grant | 15K | — |
| 2026-06-09 | Sondhi Reeny | Grant | 15K | — |
| 2026-06-09 | Brown Marc Evan | Grant | 15K | — |
| 2026-06-09 | Holzman Benjamin | Grant | 15K | — |
| 2026-06-09 | Kalowski Jeffrey | Grant | 57K | — |
| 2026-06-09 | Schodorf Thomas E | Grant | 15K | — |
| 2026-06-09 | Nye Benjamin | Grant | 15K | — |
| 2026-06-09 | BURNS MIKE | Grant | 15K | — |
| 2026-06-09 | BERRY MICHAEL J | Gift | 8.4K | — |
| 2026-06-09 | BERRY MICHAEL J | Gift | 8.4K | — |
| 2026-06-09 | MOHAMED WAEL | Tax withheld | 397 | $7.10 |
| 2026-06-09 | JANA Partners Management, LP | Other | 15K | — |
| 2026-06-09 | BRUNER JUDY | Grant | 15K | — |
| 2026-05-15 | Thomas Corey E. | Tax withheld | 5.4K | $6.50 |
| 2026-05-15 | Murphy Scott M | Tax withheld | 1.1K | $6.50 |
| 2026-04-22 | Murphy Scott M | Sell | 827 | $6.35 |
| 2026-04-15 | Murphy Scott M | Tax withheld | 344 | $5.76 |
| 2026-02-23 | Murphy Scott M | Sell | 1.3K | $6.51 |
| 2026-02-17 | Murphy Scott M | Grant | 20K | — |
| 2026-02-15 | Murphy Scott M | Tax withheld | 673 | $7.18 |
| 2026-02-15 | Thomas Corey E. | Grant | 65K | — |
| 2026-02-15 | Thomas Corey E. | Tax withheld | 22K | $7.18 |
| 2026-01-22 | Murphy Scott M | Sell | 764 | $12.70 |
| 2026-01-15 | Murphy Scott M | Tax withheld | 406 | $13.30 |
| 2025-12-18 | Thomas Corey E. | Tax withheld | 182K | $15.66 |
| 2025-12-18 | Thomas Corey E. | Option exercise | 200K | $12.98 |
| 2025-12-01 | Brown Rafeal E. | Grant | 467K | — |
| 2025-11-28 | JANA Partners Management, LP | Buy | 42K | $15.71 |
| 2025-11-26 | Schodorf Thomas E | Buy | 6.3K | $15.70 |
| 2025-11-25 | Brown Marc Evan | Buy | 3.0K | $15.21 |
| 2025-11-25 | JANA Partners Management, LP | Buy | 50K | $15.01 |
| 2025-11-24 | Thomas Corey E. | Buy | 14K | $13.82 |
| 2025-11-24 | Murphy Scott M | Sell | 1.4K | $13.97 |
| 2025-11-24 | JANA Partners Management, LP | Buy | 150K | $14.13 |
| 2025-11-20 | BURNS MIKE | Buy | 2.0K | $13.80 |
| 2025-11-15 | Thomas Corey E. | Tax withheld | 13K | $14.03 |
| 2025-11-15 | Adams Timothy M | Tax withheld | 9.2K | $14.03 |
| 2025-11-15 | Murphy Scott M | Tax withheld | 570 | $14.03 |
| 2025-10-22 | Murphy Scott M | Sell | 826 | $19.10 |
| 2025-10-15 | Murphy Scott M | Tax withheld | 344 | $18.37 |
| 2025-08-22 | Murphy Scott M | Sell | 1.4K | $20.25 |
| 2025-08-19 | Murphy Scott M | Sell | 5.5K | $21.29 |
| 2025-08-15 | Murphy Scott M | Tax withheld | 570 | $21.27 |
| 2025-08-15 | Thomas Corey E. | Tax withheld | 13K | $21.27 |
| 2025-08-15 | Adams Timothy M | Tax withheld | 9.2K | $21.27 |
| 2025-08-13 | JANA Partners Management, LP | Buy | 250K | $21.26 |
| 2025-08-12 | JANA Partners Management, LP | Buy | 163K | $20.07 |
| 2025-08-11 | JANA Partners Management, LP | Buy | 359K | $18.23 |
| 2025-07-15 | Murphy Scott M | Tax withheld | 343 | $22.53 |
| 2025-06-13 | BERRY MICHAEL J | Gift | 5.2K | — |
| 2025-06-13 | BERRY MICHAEL J | Gift | 5.2K | — |
| 2025-06-11 | Nye Benjamin | Grant | 1.7K | — |
| 2025-06-11 | MOHAMED WAEL | Grant | 1.3K | — |
| 2025-06-11 | Holzman Benjamin | Grant | 8.4K | — |
| 2025-06-11 | BURNS MIKE | Grant | 1.3K | — |
| 2025-06-11 | BRUNER JUDY | Grant | 8.4K | — |
| 2025-06-11 | Brown Marc Evan | Grant | 8.4K | — |
| 2025-06-11 | JANA Partners Management, LP | Grant | 1.2K | — |
| 2025-06-11 | BERRY MICHAEL J | Grant | 8.4K | — |
| 2025-06-11 | Brown Marc Evan | Grant | 1.6K | — |
| 2025-06-11 | Sondhi Reeny | Grant | 8.4K | — |
| 2025-06-11 | Schodorf Thomas E | Grant | 8.4K | — |
| 2025-06-11 | Schodorf Thomas E | Grant | 2.1K | — |
| 2025-06-11 | Nye Benjamin | Grant | 8.4K | — |
| 2025-05-15 | Murphy Scott M | Tax withheld | 569 | $23.55 |
| 2025-05-15 | Adams Timothy M | Tax withheld | 8.4K | $23.55 |
| 2025-05-15 | Thomas Corey E. | Tax withheld | 13K | $23.55 |
| 2025-05-15 | BERRY MICHAEL J | Gift | 13K | — |
| 2025-05-15 | BERRY MICHAEL J | Gift | 13K | — |
| 2025-04-22 | JANA Partners Management, LP | Grant | 15K | — |
| 2025-04-15 | MOHAMED WAEL | Grant | 15K | — |
| 2025-04-15 | BURNS MIKE | Grant | 15K | — |
| 2025-04-15 | Murphy Scott M | Tax withheld | 1.3K | $23.07 |
| 2025-04-07 | Luconi Christina | Sell | 10.0K | $23.04 |
| 2025-04-07 | Luconi Christina | Sell | 2.6K | $23.44 |
| 2025-03-28 | Holzman Benjamin | Option exercise | 6.4K | $17.05 |
| 2025-03-07 | Luconi Christina | Sell | 18K | $28.59 |
| 2025-03-07 | Luconi Christina | Sell | 3.2K | $29.19 |
| 2025-02-15 | Thomas Corey E. | Grant | 76K | — |
| 2025-02-15 | Thomas Corey E. | Tax withheld | 22K | $35.55 |
| 2025-02-15 | Luconi Christina | Grant | 11K | — |
| 2025-02-15 | Luconi Christina | Tax withheld | 3.5K | $35.55 |
| 2025-02-15 | Adams Timothy M | Grant | 18K | — |
| 2025-02-15 | Adams Timothy M | Tax withheld | 6.2K | $35.55 |
| 2025-02-14 | Thomas Corey E. | Grant | 129K | — |
| 2025-02-14 | Murphy Scott M | Grant | 23K | — |
| 2025-02-14 | Adams Timothy M | Grant | 52K | — |
| 2025-02-14 | Thomas Corey E. | Tax withheld | 4.5K | $35.55 |
| 2025-02-14 | Thomas Corey E. | Grant | 9.2K | — |
| 2025-01-21 | Thomas Corey E. | Option exercise | 100K | $9.77 |
| 2025-01-21 | Thomas Corey E. | Sell | 100K | $39.38 |
| 2025-01-02 | Thomas Corey E. | Sell | 14K | $40.77 |
| 2025-01-02 | Thomas Corey E. | Option exercise | 50K | $9.77 |
| 2025-01-02 | Thomas Corey E. | Sell | 36K | $39.60 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Shareholder vote | filing ↗ |
| 2026-06-01 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-03-30 | Material agreementExhibits | filing ↗ |
| 2026-02-10 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-11-04 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-08-07 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-06-25 | Material agreementDebt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-09 | 0001560327-26-000035 ↗ |
| 8-K | 2026-06-01 | 2026-05-26 | 0001193125-26-249850 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001560327-26-000033 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001560327-26-000032 ↗ |
| 8-K | 2026-03-30 | 2026-03-26 | 0001193125-26-131752 ↗ |
| 10-K/A | 2026-03-16 | 2025-12-31 | 0001193125-26-108405 ↗ |
| 10-K | 2026-02-19 | 2025-12-31 | 0001560327-26-000008 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0001560327-26-000004 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001560327-25-000062 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001560327-25-000059 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0001560327-25-000050 ↗ |
| 8-K | 2025-08-07 | 2025-08-06 | 0001560327-25-000048 ↗ |