Rapid7 (RPD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Rapid7 published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Rapid7 reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2026 results include $10.0 million of restructuring expense from the 2026 Restructuring Plan, which cuts Rapid7's workforce by about 12%, and a $5.5 million impairment of a strategic equity investment. Both are excluded from non-GAAP results.
• Rapid7 reports in thousands; figures here are in millions.

Source: Rapid7 Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Rapid7 splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Rapid7's Product subscriptions revenue was $206 million in Q3 2026, down 2% from $210 million in Q3 2025, 97% of total revenue.
• Rapid7's Professional services revenue was $6.3 million in Q3 2026, down 19% from $7.8 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Rapid7 gives its outlook as a table in the release: Q4 2026 revenue of $208 to $210 million and full-year 2026 revenue of $841 to $843 million, ARR of approximately $812 million, and non-GAAP EPS of $0.53 to $0.55 for Q4 and $1.94 to $1.96 for the year.

In its Q3 2026 release, Rapid7 said:

“Rapid7 anticipates ARR, revenue, non-GAAP income from operations, non-GAAP net income per share and free cash flow to be in the following ranges:”

“Guidance for the fourth quarter 2026 and full-year 2026 does not include any potential impact of foreign exchange gains or losses.”

“The company is operating with greater discipline, our core business is becoming more stable, and our cash generation outlook for the year remains on track.”

Source: Rapid7 Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the RPD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue and diluted net income per share, each as first reported in that quarter's release.

We do not hold a confirmed date for Rapid7's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Rapid7's total revenue fell 2.5% to $212.4 million in Q3 2026, from $218.0 million a year earlier. Product subscriptions were $206.1 million, down 1.9%, and professional services were $6.3 million, down 19.1%. (Rapid7 Q3 2026 release, Nov 4, 2026; Rapid7 Form 10-Q, Q3 2026, Nov 4, 2026)

Product subscriptions cover cloud-based subscriptions, managed services such as managed detection and response (MDR), term software licenses, content subscriptions and maintenance. Professional services are deployment and training, incident response, penetration testing and security advisory work. (Rapid7 Form 10-K, 2025, Feb 10, 2026)

Rapid7's 10-Q says revenue fell mainly because of lower exposure management revenue and, to a lesser degree, its non-core and standalone products, partly offset by growth in detection and response. In Q3 the decline in non-core and standalone revenue was larger than in earlier quarters. Professional services fell mainly on lower penetration-testing revenue. (Rapid7 Form 10-Q, Q3 2026, Nov 4, 2026)

Customers in the United States generated $147.3 million of revenue in the quarter, down from $154.8 million, while the rest of the world rose to $65.1 million from $63.2 million. No single customer, including channel partners, accounted for 10% or more of total revenue in 2025. (Rapid7 Form 10-Q, Q3 2026, Nov 4, 2026; Rapid7 Form 10-K, 2025, Feb 10, 2026)

Remaining performance obligations were $527.1 million for the next twelve months and $281.4 million after that, at September 30, 2026. (Rapid7 Form 10-Q, Q3 2026, Nov 4, 2026)

Rapid7's GAAP diluted EPS was $0.05 in Q3 2026, against $0.15 a year earlier, on net income of $3.5 million. Non-GAAP EPS was $0.60, up from $0.57, on non-GAAP net income of $47.4 million. (Rapid7 Q3 2026 release, Nov 4, 2026)

Non-GAAP results exclude stock-based compensation ($23.2 million in the quarter), amortization of acquired intangible assets ($4.0 million), restructuring expense ($10.0 million), the $5.5 million impairment of a strategic equity investment and amortization of debt issuance costs ($1.1 million). The restructuring belongs to the 2026 Restructuring Plan, which reduces the workforce by about 12% and is expected to be substantially complete by the end of Q4 2026. The impairment wrote off a SAFE investment that Rapid7 judged fully impaired. (Rapid7 Q3 2026 release, Nov 4, 2026; Rapid7 Form 10-Q, Q3 2026, Nov 4, 2026)

The two EPS figures also use different share counts. GAAP diluted EPS used 70,172,655 weighted shares, while the non-GAAP figure used 80,602,546, because it adds 10,429,891 shares for the convertible senior notes on an if-converted basis. GAAP operating expenses fell to $138.9 million from $147.1 million, with sales and marketing down to $65.6 million from $79.3 million. (Rapid7 Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Rapid7 publishes a numeric outlook in its release. For Q4 2026 it expects revenue of $208 to $210 million, a decline of 3% to 4%, non-GAAP income from operations of $40 to $42 million and non-GAAP EPS of $0.53 to $0.55. For full year 2026 it expects revenue of $841 to $843 million, non-GAAP EPS of $1.94 to $1.96, ARR of approximately $812 million and free cash flow of approximately $130 million. (Rapid7 Q3 2026 release, Nov 4, 2026)

The guidance excludes stock-based compensation, amortization of acquired intangibles, restructuring and other items, and Rapid7 does not reconcile it to GAAP on a forward-looking basis. (Rapid7 Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Rapid7, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Rapid7's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning RPD is on is RPD a buy or a sell?, what analysts expect next is on the RPD forecast, and what the company does is on the Rapid7 (RPD) stock page.

Every number on this page can be traced to a document Rapid7 published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.