Rapid7, Inc. Common Stock Citi’s 2026 Global TMT Conference

Thank you for having us.

Yes. Thank you. I think the hands-down biggest thing is we recently had a new CEO join us, as well as a new head of Chief Product and Technology. I think those are the two most recent elements of what has been a pretty big shift in the management structure across the board. I joined in December of last year. Allan Peters joined. He runs our sales and marketing organizations. He joined in October. We have a very new team, but it is across the board. I think that speaks to the overall changes that we are seeing at Rapid7 that I would say the passion by a number of us, the good things we can do and that we need to work together on, but of significant changes, whether it is on the product, the go-to-market side of the house, just as we are embracing the markets.

I would say, I think a background kind of core element, to stick to my own area for a minute though is, as I joined the organization, there was a few things we really wanted to take off the table, and that was we have a large convertible bond that's going to mature next year. We want to make sure we've addressed that. We now have more than enough cash on hand to do that. We wanted to make sure we could provide clarity to the parts of our business that we felt was core, our core offerings. We break that out each quarter. We've really tried to focus on our ability to express the story and make it really clear, because as we're going through the transition, we don't want any distractions from the good things we're doing. We want to demonstrate that to our investors.

Well, I think a few of the major priorities that just jumped off the page were, one, around how we guide the business both internally and externally. That was probably the hands-down biggest thing that I was asked to jump on. And we've really focused on that. The guidance is always somewhat difficult. You build the resources. But the team has really rallied around it in terms of our ability to forecast, and this is internal as well as the guidance we give publicly, really trying to be on top of that. That's been a big focus. I think we've made a lot of very good progress there. And then the clarity of the business. I think one of the things we would hear from investors a lot of times is the story was complex, right?

Investors have many choices. They need to be able to see where we are, what we're doing, and being able to break that out. The core versus non-core business, the breaking out of the details even within core D&R versus exposure management. Getting those things unwrapped is really key. I think internally, we've really tried to drill into our overall data management side of the house so that we can express clearly to the board, to leaders of both the good and the bad in any given quarter. We've, I think, made some really nice enhancements there. All of these things you can keep going for the rest of your life on.

Where that leaves us, though, is that the parts of the journey where finance is really much more of in a support role. On the product and technology side, on the go-to-market side, we're not on the front lines. Our partners are out doing that, and they've been doing some really good work. We're really digging in, given how new Dan is on the product side, that he's absorbing a lot of data, but he's now getting his feet under him with his organization. He's bringing in new leadership underneath him. That's really been very exciting for a lot of us. Setting that product strategy, we need to partner with him constantly to help. The finance person in me wants to jump right to an ROI, but frankly, the best thing I can do is help making sure he has the data he needs to make good decisions.

As those products roll out or new changes come through, we'll of course monitor how that's going.

Yeah. I would say where I think we're furthest along would be in Allan Peters' organization. Allan, again, joined in October. He hustled to make some of the changes within his organization to get those in place by sales kickoff, right? To get the team started. I think he did a great job of it, and we've seen some nice increases in rep productivity develop over the first couple quarters of the year, right? That's a great sign of not only getting the team in, but having measurable, definitive success. That's been very exciting to us. With Wael joining, it's 100 days since he joined, but Wael was on the board prior to this, so I think that helps us to a great degree, but it is a big change.