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Red Flags Detected

  • 12% Workforce Reduction (August 2026 Restructuring) (new) — Second restructuring in two months, targeting $10-11M in severance charges to realign resources with core platform.
  • Arr And Arr Per Customer Decline (unchanged) — ARR fell 2.0% YoY and ARR per customer dropped 3.0%, reversing prior-year growth and signaling customer churn or downsells.
  • Fortune 100 Penetration Decline (40% → 34%) (worsened) — Enterprise customer penetration fell 6 percentage points, indicating potential churn among large accounts.
  • Israel Tax Authority Assessment Usd Exposure ($88m → $108m) (worsened) — FX-driven increase in dollar exposure to unresolved 324M shekel tax dispute; company continues to contest with no accrual.
NASDAQ: RPD Rapid7, Inc. 10-Q

revenue $210.9M, net income $6.1M. Rapid7 revenue falls 1.5% as 12% workforce cut announced; ARR declines 2%, margins compress

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

  • high

    Board approved 12% workforce reduction on August 7, 2026, expecting $10-11M in severance charges to simplify operations and realign resources with core platform. A second restructuring in two months.

    MD&A: Subsequent Events verify on EDGAR →
  • high

    ARR declined 2.0% YoY to $824M and ARR per customer fell 3.0% to $70, reversing prior-year growth. Fortune 100 penetration dropped from 40% to 34%, signaling enterprise churn.

    MD&A: Key Metrics verify on EDGAR →
  • high

    Non-GAAP operating margin compressed 350 basis points to 12.7% (from 16.2%) and gross margin fell 210 basis points to 69.0%, driven by higher product-subscription costs outpacing revenue.

    MD&A: Operating Results verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 11, 2026 · How we verify