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RAPIDA Rapid7 Announces First Quarter 2021 Financial Results • Annualized recurring revenue ( ARR ) of $ 455.8 million , an increase of 30 % year - over - year • Revenue of $ 117.5 million , up 24 % year - over - year ; Products revenue of $ 109.3 million , up 25 % year - over - year • Total customer growth of 11 % year - over - year Total ARR per customer growth of 17 % year - over - year Exhibit 99.1 Boston , MA - May 6 , 2021 – Rapid7 , Inc. ( Nasdaq : RPD ) , a leading provider of security analytics and automation , today announced its financial results for the first quarter of 2021 . " Rapid7 delivered a strong start to 2021 as we accelerated year - over - year ARR growth to 30 % while demonstrating strong free cash flow dynamics in our business . These results are a great validation of the vision we laid out at our recent Investor Day as we work to deliver industry - leading capabilities coupled with our unique focus on world - class accessibility , " said Corey Thomas , Chairman and CEO of Rapid7 . " Looking ahead we remain focused on executing against our goal of delivering best - in - class security that meets customers where they are in their SecOps journey to help them close their security achievement gap . " First Quarter 2021 Financial Results and Other Metrics Three Months Ended March 31 , 2021 Annualized recurring revenue Number of customers ( 1 ) $ 455,797 $ 2020 ( dollars in thousands ) 350,884 % Change ARR per customer ( 1 ) $ 8,945 51.0 8,075 30 % 11 % $ 43.5 17 % ( ¹ ) Number of customers and ARR per customer are based on our new customer count methodology provided at our virtual investor day on March 10 , 2021. Prior period amounts have been revised to conform with the modified definition . rapid7.com