Rapid7 Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
RPD$14.49-3.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(149,260) | $(124,717) | $(146,334) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 45,939 | 41,038 | 33,501 |
| Amortization of debt discount and issuance costs | 4,138 | 4,085 | 3,982 |
| Stock-based compensation expense | 108,081 | 119,902 | 102,579 |
| Impairment of long-lived assets | 30,784 | — | — |
| Change in fair value of derivative assets | 15,511 | — | — |
| Deferred income taxes | (5,624) | (1,440) | 466 |
| Induced conversion expense | 53,889 | — | 2,740 |
| Other | 469 | (200) | 1,920 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (14,021) | (9,050) | (25,475) |
| Deferred contract acquisition and fulfillment costs | (18,534) | (15,910) | (22,526) |
| Prepaid expenses and other assets | (4,125) | (2,231) | (3,355) |
| Accounts payable | 5,449 | 7,977 | (2,077) |
| Accrued expenses | 2,422 | 3,741 | 19,205 |
| Deferred revenue | 30,472 | 52,516 | 85,562 |
| Other liabilities | (1,312) | 2,493 | 3,729 |
| Net cash provided by operating activities | 104,278 | 78,204 | 53,917 |
| Cash flows from investing activities: | |||
| Business acquisitions, net of cash acquired | (34,841) | — | (358,420) |
| Purchases of property and equipment | (4,366) | (20,382) | (9,010) |
| Capitalization of internal-use software | (15,878) | (17,145) | (9,854) |
| Purchases of investments | (276,829) | (122,765) | (93,092) |
| Sales and maturities of investments | 150,450 | 121,304 | 147,998 |
| Other investments | 2,710 | (1,000) | (3,000) |
| Net cash used in investing activities | (178,754) | (39,988) | (325,378) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of convertible senior notes, net of issuance costs of $7,909 and $14,976 for the years ended December 31, 2023 and 2021, respectively | 292,091 | — | 585,024 |
| Purchase of capped calls related to convertible senior notes | (36,570) | — | (76,020) |
| Payment of debt issuance costs | — | (71) | (300) |
| Payments for redemption, repurchase and conversion of convertible senior notes | (199,998) | (12) | (230,000) |
| Payments related to business acquisitions | (2,250) | (300) | (12,118) |
| Proceeds from capped calls settlement | 17,518 | — | — |
| Taxes paid related to net share settlement of equity awards | (5,570) | (7,462) | (16,044) |
| Proceeds from employee stock purchase plan | 11,323 | 11,943 | 9,276 |
| Proceeds from stock option exercises | 3,053 | 3,318 | 4,315 |
| Net cash provided by financing activities | 79,597 | 7,416 | 264,133 |
| Effect of exchange rate changes on cash ,cash equivalents and restricted cash | 1,202 | (2,845) | (1,272) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 6,323 | 42,787 | (8,600) |
| Cash, cash equivalents and restricted cash, beginning of period | 207,804 | 165,017 | 173,617 |
| Cash, cash equivalents and restricted cash, end of period | $214,127 | $207,804 | $165,017 |
| Supplemental cash flow information: | |||
| Cash paid for interest on convertible senior notes | $4,605 | $6,675 | $7,345 |
| Cash paid for income taxes, net of refunds | $1,624 | $1,571 | $3,305 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $213,629 | $207,287 | $164,582 |
| Restricted cash included in prepaid expenses and other assets | 498 | 517 | 435 |
| Total cash, cash equivalents and restricted cash | $214,127 | $207,804 | $165,017 |
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