Benzinga | Jul 20, 2021 06:28AM EDT

Rapid7 Acquires IntSights Cyber Intelligence For $335M, Issues Robust Q2 Preliminary Results

* Security analytics and automation provider Rapid7, Inc (NASDAQ:RPD) acquired IntSights Cyber Intelligence Ltd for $335 million in cash and stock.

* IntSights specializes in contextualized external threat intelligence and proactive threat remediation.

* It will help to provide customers with a unified view into threats, attack surface monitoring, relevant insights, and proactive threat mitigation for organizations.

* It also enhances Rapid7's cloud-native extended detection and response (XDR) offering, InsightIDR, by enabling alerts to ensure efficient security operations, earlier threat detection, and accelerated response times.

* Rapid7 held $503.8 million in cash and equivalents as of Mar. 31.

* Preliminary Results: Rapid7 anticipates Annualized Recurring Revenue to end the Q2 2021 at $489 million, growing 29% year-over-year.

* Additionally, Rapid7 expects revenue and non-GAAP income from operations for Q2 2021 to exceed the high-end of its previous guidance provided on May 6.

* The company now sees to top the high end of previous revenue guidance of $121.7 million- $123.3 million, versus the consensus of $122.6 million. Prior non-GAAP income from operations guidance was $4.3 million to $5.3 million.

* The prior non-GAAP EPS guidance was $0.02-$0.03, versus the analyst consensus of $0.02.

* Rapid7 will discuss full financial results on its Q2 earnings conference call on Aug. 4.

* Price action: RPD shares closed higher by 1.66% at $103.43 on Monday.