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RAPIDA COMPANY OVERVIEW August 10 , 2026
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2 Disclaimer This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical facts, including, without limitation, statements regarding our market opportunity, demand for our product and service offerings, expectations regarding our annualized recurring revenue ARR, free cash flow, and our other non-GAAP measures, our business strategy, our ability to integrate acquired businesses and realize the anticipated strategic and technological uplift of such acquired businesses, our ability to successfully develop, deploy, and achieve customer adoption of AI capabilities, plans and objectives for future operations, and statements regarding our financial guidance for the second quarter and full-year 2026, and the assumptions underlying such guidance, are forward-looking statements. Our use of the words “anticipate,ˮ “believe,ˮ “estimate,ˮ “expect,ˮ “intend,ˮ “may,ˮ “willˮ and similar expressions are intended to identify forward-looking statements. The events described in our forward-looking statements are subject to a number of risks and uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. Risks that could cause or contribute to such differences include, but are not limited to, macroeconomic uncertainty, unstable market and economic conditions, fluctuations in our quarterly results, the possibility that our restructuring plan may not achieve its intended benefits or may take longer than anticipated to complete or result in charges greater than currently estimated, our ability to successfully grow our sales of our cloud-based solutions, including through the shift to a consolidated platform sales approach, failure to meet our publicly announced guidance or other expectations about our business, our ability to grow our revenue, the ability of our products and professional services to correctly detect vulnerabilities, renewal of our customers' subscriptions, competition in the markets in which we operate, market growth, our ability to innovate, our sales cycles, our ability to successfully develop, deploy and realize the expected benefits of our artificial intelligence and automation capabilities, including risks related to performance, reliability, security and customer adoption of such technologies, our ability to successfully integrate acquired companies, including Kenzo Security, and achieve the expected synergies and benefits of such acquisitions in a timely manner or at all, exposure to greater than anticipated tax liabilities, our ability to operate in compliance with applicable laws, fluctuations in foreign currency exchange rates and their impact on our results, risks related to the accuracy, efficacy and perceived reliability of our threat intelligence, detection and response capabilities, including the potential for undetected vulnerabilities, false positives or failures in our systems, as well as other risks and uncertainties set forth in the ˮRisk Factorsˮ section of our most recent Annual Report on Form 10K filed with the SEC on February 19, 2026 and in the subsequent reports we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this presentation. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. This presentation also contains certain non-GAAP financial measures as defined by the SEC rules. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Please refer to our August 10, 2026 press release for additional information as to why we believe these non-GAAP financial measures are useful to investors and others in assessing our operating results. As required by Regulation G, we have provided a historical reconciliation of those measures to their most directly comparable GAAP measures, which is available in the end notes to this presentation. A reconciliation of non-GAAP guidance measures to the most comparable GAAP measures is not available on a forward-looking basis without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures.
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33 Company Overview $824M Q2 2026 ARR $29M Q2 2026 Non-GAAP Operating Income 11,500+ Global Customers $70k Q2 2026 ARR Per Customer Please see the Supplemental Disclosure section for a full reconciliation of GAAP to Non-GAAP metrics and the definition of Annual Recurring Revenue ARR.
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44 Financial overview
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55 Annualized Recurring Revenue Please see the Supplemental section for a full reconciliation of GAAP to Non-GAAP metrics. Non-GAAP guidance excludes estimates for stock-based compensation expense, amortization of acquired intangible assets, amortization of debt issuance costs, and certain other items such as acquisition-related expenses, impairment of long-lived assets, restructuring expense, induced conversion expense, change in the fair value of derivative assets, non-ordinary course litigation-related expenses and discrete tax items. Annualized recurring revenue ARR) is displayed in millions $824M ARR of in Q2 2026 6% ARR CAGR of from Q2 2022 toQ2 2026
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66 ARR per Customer of Approximately $70k Please see the Supplemental section for a full reconciliation of GAAP to Non-GAAP metrics. Non-GAAP guidance excludes estimates for stock-based compensation expense, amortization of acquired intangible assets, amortization of debt issuance costs, and certain other items such as acquisition-related expenses, impairment of long-lived assets, restructuring expense, induced conversion expense, change in the fair value of derivative assets, non-ordinary course litigation-related expenses and discrete tax items. Annualized recurring revenue ARR) is displayed in thousands $70k ARR Per Customer was approximately in Q2 2026 3% ARR per customer CAGR of from Q2 2022 to Q2 2026
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77 Guidance
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88 Q3 and Full Y ear 2026 Guidance 1The guidance provided above is forward-looking in nature. Actual results may differ materially. See the cautionary note regarding “Forward-Looking Statementsˮ below. Guidance for the third quarter 2026 and full-year 2026 does not include any potential impact of foreign exchange gains or losses. 2Please see the Supplemental section for a full reconciliation of GAAP to Non-GAAP metrics. Non-GAAP guidance excludes estimates for stock-based compensation expense, amortization of acquired intangible assets, amortization of debt issuance costs, and certain other items such as acquisition-related expenses, impairment of long-lived assets, restructuring expense, induced conversion expense, change in the fair value of derivative assets, non-ordinary course litigation-related expenses and discrete tax items. A reconciliation of non-GAAP guidance measures to the most comparable GAAP measures is not available on a forward-looking basis without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures. Q3 2026 Full Year FY 2026 Annualized Recurring Revenue (‘ARRʼ) Approximately $812 million Not provided ARR Growth YoY 3% Not provided Revenue $208 to $210 million $837 to $841 million Revenue Growth YoY 5% to 4% 3% to 2% Non-GAAP Operating Income 1,2 $34 to $36 million $129 to $133 million Non-GAAP Net Income Per Share 1,2 $0.44 to $0.47 $1.78 to $1.83 Weighted-average Shares Outstanding, Diluted 80.1 79.4 Free Cash Flow Not guided quarterly Approximately $130 million
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99 Supplemental Disclosure and Reconciliation
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1010 GAAP to Non-GAAP Reconciliation Q2 2026
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1111 GAAP to Non-GAAP Reconciliation Q2 2025
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12 Endnotes Annualized Recurring Revenue ARR ● ARR is defined as the annual value of all recurring revenue related to active contracts as of the last day of the period. ARR is measured at a specific point in time and does not incorporate consideration of any anticipated contract terminations or other prospective events, regardless of whether such events may exert a favorable or adverse influence on the metric. ARR should be viewed independently of revenue and deferred revenue, as ARR is an operating metric and is not intended to be combined with or replace these items. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as professional services revenue in our consolidated statement of operations. We use ARR and believe it is useful to investors as a measure of the overall success of our business. Recurring Revenue ● Recurring revenue is defined as revenue from the sale of term software licenses, content subscriptions, managed services, cloud-based subscriptions and maintenance and support calculated as % of total revenue. Customer ● A Customer is defined as any entity that has an active recurring revenue contract as of the specified measurement date, excluding InsightOps and Logentries only customers with a contract value of less than $2,400 per year. ARR per Customer ● ARR per Customer is defined as ARR divided by the number of Customers at the end of the period. Non-GAAP metrics ● Non-GAAP gross margins represent the GAAP gross profit, excluding stock-based compensation expense and amortization of acquired intangible assets calculated as a % of revenue. See GAAP to Non-GAAP reconciliation. ● Operating expenses and operating income margin presented are on a non-GAAP basis and exclude stock-based compensation expense, amortization of acquired intangible assets, and certain other items such as acquisition-related expenses, restructuring expense, and litigation-related expenses. ● Free cash flow is defined as cash flow provided by operations less purchases of property and equipment and capitalization of internal-use software costs. Guidance ● Guidance for the third quarter and full-year 2026 does not include any potential impact of foreign exchange gains or losses. ● Non-GAAP guidance excludes estimates for stock-based compensation expense, amortization of acquired intangible assets, amortization of debt issuance costs and certain other items such as restructuring expense and discrete tax items. A reconciliation of non-GAAP guidance measures to the most comparable GAAP measures is not available on a forward-looking basis without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures.
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1313 THANK YOU