Rapid7, Inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements. RAPID7, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 425,607 $ 246,664 Short-term investments 276,972 228,006 Accounts receivable, net of allowance for credit losses of $ 2,280 and $ 2,476 at June 30, 2026 and December 31, 2025, respectively 141,253 167,017 Deferred contract acquisition and fulfillment costs, current portion 46,302 48,370 Prepaid expenses and other current assets 41,045 47,230 Total current assets 931,179 737,287 Long-term investments — 184,119 Property and equipment, net 29,179 31,990 Operating lease right-of-use assets 41,500 45,485 Deferred contract acquisition and fulfillment costs, non-current portion 66,048 66,978 Goodwill 593,334 575,268 Intangible assets, net 63,340 65,105 Other assets 18,983 20,232 Total assets $ 1,743,563 $ 1,726,464 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 14,058 $ 11,041 Accrued expenses and other current liabilities 93,431 96,998 Convertible senior notes, current portion, net 598,206 — Operating lease liabilities, current portion 17,946 16,176 Deferred revenue, current portion 436,710 451,155 Total current liabilities 1,160,351 575,370 Convertible senior notes non-current portion, net 296,020 892,284 Operating lease liabilities, non-current portion 49,475 59,908 Deferred revenue, non-current portion 25,715 29,971 Other long-term liabilities 15,298 14,201 Total liabilities $ 1,546,859 $ 1,571,734 Stockholders’ equity: Preferred stock, $ 0.01 par value per share; 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; 0 shares issued and outstanding at June 30, 2026 and December 31, 2025 $ — $ — Common stock, $ 0.01 par value per share; 100,000,000 shares authorized at June 30, 2026 and December 31, 2025; 67,886,311 and 66,417,175 shares issued at June 30, 2026 and December 31, 2025, respectively; 67,316,056 and 65,846,920 shares outstanding at June 30, 2026 and December 31, 2025, respectively 672 658 Treasury stock, at cost, 570,255 shares at June 30, 2026 and December 31, 2025 ( 4,765 ) ( 4,765 ) Additional paid-in-capital 1,158,619 1,120,963 Accumulated other comprehensive (loss) income ( 372 ) 2,527 Accumulated deficit ( 957,450 ) ( 964,653 ) Total stockholders’ equity 196,704 154,730 Total lia