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Rapid7 cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$29.9M in Q3 2026 · $140M over twelve months

Operating cash flow$30.1M
Capital spending−$213K
Free cash flow+$29.9M
Cash / net income8.6×
Cash conversion cycle38 days

Analysis

In Q3 2026, Rapid7 generated $30.1M of operating cash flow and spent $213K on capital projects, leaving free cash flow of $29.9M. That is $4.9M less than in Q3 2025 ($34.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $145M; the largest uses were acquisitions ($23.3M), capital spending ($4.6M), taxes on employees’ shares ($1.0M); besides operations, cash came from other investing ($89.6M), other financing ($230K); the cash balance rose by $205M.

Operating cash flow was $30.1M against net income of $3.5M — 8.6× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue −$30.2M, stock-based pay +$23.2M, receivables +$15.3M.

Its cash conversion cycle was 38 days (receivables 58 + inventory 0 − payables 20).

Free cash flow

Rapid7: free cash flow by quarterRapid7: free cash flow by quarter$62.6MQ4 2024$28.4MQ1 2025$46.6MQ2 2025$34.8MQ3 2025$36.4MQ4 2025$37.7MQ1 2026$35.8MQ2 2026$29.9MQ3 2026
Operating cash flow less capital spending.
Rapid7: operating cash flow against capital spendingRapid7: operating cash flow against capital spendingOperating cash flowCapital spending$63.8M$1.2MQ4 2024$29.8M$1.4MQ1 2025$47.5M$948KQ2 2025$39.0M$4.1MQ3 2025$37.6M$1.2MQ4 2025$39.8M$2.1MQ1 2026$37.0M$1.2MQ2 2026$30.1M$213KQ3 2026
Latest (Q3 2026): Operating cash flow $30.1M, Capital spending $213K.

Capital allocation, year by year

Rapid7: where the cash came from (up) and went (down), by fiscal yearRapid7: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $53.9MFY2021: Net borrowing $355MFY2021: Shares issued $4.3MFY2021: Capital spending −$9.0MFY2021: Acquisitions −$358M$413MFY2021FY2022: Operating cash flow $78.2MFY2022: Net borrowing −$12KFY2022: Shares issued $3.3MFY2022: Capital spending −$20.4M$81.5MFY2022FY2023: Operating cash flow $104MFY2023: Net borrowing $92.1MFY2023: Shares issued $3.1MFY2023: Capital spending −$4.4MFY2023: Acquisitions −$34.8M$199MFY2023FY2024: Operating cash flow $172MFY2024: Shares issued $1.6MFY2024: Capital spending −$3.4MFY2024: Acquisitions −$37.3M$173MFY2024FY2025: Operating cash flow $154MFY2025: Net borrowing −$46.0MFY2025: Shares issued $1.6MFY2025: Capital spending −$7.6M$155MFY2025
Over these 5 years operating cash flow totalled $562M; the largest uses were acquisitions ($431M) and net borrowing ($46.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$732M
Debtnone
Net cash$732M

Rapid7 funds itself: free cash flow was $140M over the last twelve months, with $732M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Rapid7: sources (+) and uses (−) of cash, Q3 2026Rapid7: sources (+) and uses (−) of cash, Q3 2026Other investing−$121MCash drawn (+) / kept (−)$89.9MOperating cash flow$30.1MOther financing$1.4MCapital spending−$213KExchange rates−$149KTaxes on employees’ shares−$118K
Rapid7: sources (+) and uses (−) of cash, TTM to Q3 2026Rapid7: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)−$205MOperating cash flow$145MOther investing$89.6MAcquisitions−$23.3MCapital spending−$4.6MTaxes on employees’ shares−$1.0MExchange rates−$283KOther financing$230K

From profit to cash

Rapid7: net income to operating cash flow, Q3 2026Rapid7: net income to operating cash flow, Q3 2026Net income$3.5MDepreciation & amortization$10.5MStock-based pay$23.2MDeferred taxes−$3.2MOther non-cash−$548KReceivables$15.3MPayables−$578KAccrued liabilities−$537KDeferred revenue−$30.2MPrepaid and other assets$9.6MOther liabilities−$4.4MOperating cash flow$30.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202658—2038
Q2 202660—1841
Q1 202665—1649
Q4 202565—1847
Q3 202562—2239
Q2 202562—2041
Q1 202566—2442
Q4 202466—1749

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$30.1M−$213K——$89.9M$29.9M
Q2 2026$37.0M−$1.2M——−$82.3M$35.8M
Q1 2026$39.8M−$2.1M−$23.3M—−$96.6M$37.7M
Q4 2025$37.6M−$1.2M——−$116M$36.4M
Q3 2025$39.0M−$4.1M——$131M$34.8M
Q2 2025$47.5M−$948K——$37.4M$46.6M
Q1 2025$29.8M−$1.4M—$1.6M$43.4M$28.4M
Q4 2024$63.8M−$1.2M−$103K$130K−$112M$62.6M

Rapid7: income statement and cash flow

Rapid7, Q3 2026: revenue $212M (-2% year over year), operating margin 4.2%. The chart follows the revenue to costs, profit and cash.

Rapid7: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.