Rapid7, Inc.

Good day, everyone. My name is Kahe Alani, and I'll be your conference operator today. At this time, I would like to welcome you to the Q2 2026 Rapid 7 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, and if you have joined via the webinar, please use the raise hand icon which can be found at the bottom of your webinar application. At this time, I would like to turn the call over to Matt Wells, Vice President of Investor Relations.

Thank you, Operator, and good afternoon, everyone. Today, we will be discussing Rapid7's second quarter fiscal 2026 financial results. We've distributed our earnings press release over the wire, and it can be accessed on our investor relations website. With me on the call are Corey Thomas, Executive Chairman, Wael Mohamed, CEO, and Rafe Brown, CFO. As a reminder, all participants are in a listen-only mode, and a question-and-answer session will follow our opening remarks. Before I hand the call over to Corey, I want to remind everyone that certain statements made during this conference call may be considered forward-looking statements under federal securities laws. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include, among other things, our outlook for the third quarter and full year 2026, our expectations regarding fiscal periods beyond 2026, Our transformation and restructuring initiatives, our strategy priorities and capital allocation, anticipated operational improvements, investments in our core platform and AI capabilities, and our expected growth drivers and financial performance. These forward-looking statements are based on our current expectations and beliefs and information currently available to us. While we believe any forward-looking statements we make are reasonable, actual results could differ materially due to a number of risks and uncertainties, including those contained in our filings with the SEC. Reported results should not be considered indicative of future performance. We do not undertake and expressly disclaim any obligation to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Further information on these forward-looking statements and risk factors are included in the filings we make with the SEC, including the section titled Cautionary Language Concerning Forward-Looking Statements in our earnings press release. Additionally, over the course of this call, we'll reference non-GAAP measures to describe our performance. Please review our earnings press release and filings with SEC for our rationale behind the use of non-GAAP measures and for a full reconciliation of these GAAP to non-GAAP metrics. These documents, in addition to a replay of this call, will be available on the Rapid7 Investor Relations website. And with that, I'd like to turn the call over to Corey.

Welcome to Rapid7's Q2 2026 earnings call. I join you today in a new role, but with the same passion and purpose, to ensure that organizations of all sizes can get the best results from their security operations. I have worked with the board, and especially with Wael, over the last year to revitalize our team, improve our execution, and fully leverage the opportunity that AI is providing. As part of that work, it was clear that we have significant opportunities, but only if we tighten our focus on our core offerings, sharpen our alignment and execution around those offerings, and deliver a more efficient model. The board and I recruited Wael, whom I have known and respected for many years, to do exactly that, deliver on Rapid7's full potential in the midst of one of the most exciting moments in technology. In many ways, Wael is accelerating a plan he helped develop. In other areas, he's providing sharper focus and leadership, as you will hear in his upcoming comments. Before I hand it over to Wael, I want to take a moment to acknowledge the incredible work of our colleagues at Rapid7, whose passion and care for our customers and their deep and energetic embrace of innovation continue to inspire me. With that, I turn the call over to Wael. Wael?