Threat Detection

Rapid7 announced promotion of Key Sales Leaders

Rapid7, Inc. (Nasdaq: RPD), a leader in extended risk and threat detection, today announced the promotion of three long-tenured sales leaders to General Manager within a new regional model designed to enhance customer engagement, drive stronger customer expansion, and improve efficiency across the sales organization.

David Boffa will serve as General Manager of the Americas, David Howorth will serve as General Manager of EMEA, and Rob Dooley will serve as General Manager of APAC. As part of their expanded scope, each of these leaders will be responsible for retention, expansion, and new customer acquisition within their respective regions, and will report directly to Rapid7 Chairman and Chief Executive Officer, Corey Thomas.

“Rapid7’s Sales organization has long benefited from a deep bench of talented leaders with diverse and relevant experience driving commercial initiatives and winning in the market,” said Thomas. “I am pleased to recognize the continued contributions of David, David, and Rob, as they assume their new roles.”

As Rapid7 continues to execute on its Go To Customer strategy, Chief Customer Officer Larry D’Angelo will step down effective July 12, 2024, to pursue a new opportunity. As part of the integrated, regional customer engagement model, the company does not plan to replace this role.

“I would like to thank Larry for his dedicated service to Rapid7, and the significant progress he made in executing on our Go To Customer strategy,” said Thomas. “In today’s market, customers are increasingly turning to us for our deep security expertise and unique managed service offering and ecosystem that enables them to extend their technology capabilities. As the needs of our customers evolve and the business grows, now is the ideal time to realign our organizational structure to support these trends and accelerate our efforts to ensure that every customer can manage and monitor their attack surface with confidence. The regional leadership model supports Rapid7’s goal to become a leading platform consolidator in security operations by ultimately driving more efficient and effective sales coverage for the benefit of our customers, employees, and shareholders.”

Select Preliminary Financial Results for the Second Quarter 2024

Rapid7 today also provided select preliminary estimated Annualized Recurring Revenue (ARR) results for the three months ended June 30, 2024.

Based on currently available information, the Company anticipates second quarter 2024 Annualized Recurring Revenue (ARR) of $814 – 816 million, an increase of 8 – 9% year-over-year, and in-line with the Company’s expectations.

These preliminary financial results are based on the Company’s current estimate of its results for the quarter ended June 30, 2024, and remain subject to change based on the completion of closing and review procedures.

The Company plans to announce its full second quarter 2024 results on August 6, 2024.

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