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Rapid7 Q1 loss widens YOY

Rapid7 Inc. said its first-quarter normalized net income was a loss of 24 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 24 cents per share.

The per-share loss narrowed 36.3% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $9.6 million, compared with a loss of $4.7 million in the year-earlier period.

The normalized profit margin declined to negative 27.0% from negative 20.0% in the year-earlier period.

Total revenue rose 47.6% on an annual basis to $34.8 million from $23.6 million, and total operating expenses increased 67.3% year over year to $50.4 million from $30.1 million.

Reported net income came to a loss of $15.6 million, or a loss of 38 cents per share, compared to a loss of $19.0 million, or a loss of $1.50 per share, in the year-earlier period.