Abnormal AI vs Rapid7: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Abnormal AI. Rapid7 had $835M of annual revenue in FY2024 and a net loss of $98M.
Latest financial snapshot
Abnormal AI
- Latest annual revenue
- Unavailable here
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- —
Rapid7
- Latest annual revenue
- $835M (FY2024)
- Net income
- -$98M
- Net margin
- -11.7%
- Revenue growth
- +25.2% a year, FY2015–FY2024
Financial summary
Abnormal AI
Abnormal is private and does not publish audited financials. The company has disclosed ARR milestones: a 3x increase in 2020, a tripling in 2021, more than $100 million in August 2023 and more than $200 million in August 2024, when it said ARR was still growing over 100% a year. Reuters reported in 2023 that it was not yet profitable. Funding totals $546 million in expected proceeds across a $24 million Series A (2019), $50 million Series B (2020), $210 million Series C at a $4 billion valuation (2022) and $250 million Series D at $5.1 billion (2024).
Rapid7
Rapid7's financial profile illustrates steady cloud subscription growth, disciplined operational expense containment, and strong free cash flow generation. In fiscal year 2024, Rapid7 delivered consolidated net revenue of $777.0 million, representing a 14% year-over-year increase compared to $685.1 million in FY2023. Annualized Recurring Revenue (ARR) expanded to $796 million, propelled by double-digit expansion in Managed Detection and Response (MDR) and Cloud SIEM/XDR bookings. GAAP gross margin stood at 70%, while Non-GAAP gross margin reached 74%, benefiting from cloud infrastructure efficiencies on Amazon Web Services. Non-GAAP operating income surged to $95 million, reflecting successful margin optimization and corporate restructuring initiatives. The company generated over $90 million in free cash flow. Rapid7 maintains a solid balance sheet with approximately $415 million in cash, cash equivalents, and marketable securities, ensuring strong financial resilience and self-funded growth.
Revenue and profit by year
Abnormal AI
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2024 run-rate | $200M | — | — | — | Source |
| FY2024 run-rate | $200M | — | — | — | Source |
| FY2023 run-rate | $100M | — | — | — | Source |
Rapid7
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2024 | $835M | -$98M | -11.7% | +7.4% | Source |
| FY2023 | $777.6M | -$132.4M | -17.0% | +13.5% | Source |
| FY2022 | $685.1M | -$123.5M | -18.0% | +28.0% | Source |
| FY2021 | $535.4M | -$144.3M | -27.0% | +30.1% | Source |
| FY2020 | $411.5M | -$99.6M | -24.2% | +25.9% | Source |
| FY2019 | $326.9M | -$61.9M | -18.9% | +33.9% | Source |
| FY2018 | $244.1M | -$51.6M | -21.1% | +21.5% | Source |
| FY2017 | $200.9M | -$57.1M | -28.4% | +27.6% | Source |
| FY2016 | $157.4M | -$33.9M | -21.5% | +42.6% | Source |
| FY2015 | $110.4M | -$45.3M | -41.0% | — | Source |
Where the revenue comes from
Abnormal AI
- Inbound Email Security subscriptions
Not formally reported
The core product, sold as an annual subscription. It connects to Microsoft 365 or Google Workspace through APIs and removes messages that deviate from each user's normal behavior.
- Add-on security products
Not formally reported
Sold to existing customers on the same platform: account takeover detection, AI Phishing Coach training, Email DLP, Identity Threat Protection, AI Governance and AI Cloud Security.
Rapid7
- Managed Detection & Response (MDR & InsightIDR)46.0%
24/7 managed security operations center (SOC), cloud SIEM, user entity behavior analytics (UEBA), and incident response.
- Vulnerability Risk Management (InsightVM)34.0%
Continuous network asset scanning, vulnerability remediation prioritization, and live endpoint agents.
- Cloud Security & Application Testing (InsightCloudSec & InsightAppSec)12.0%
Multi-cloud security posture management, container compliance, and dynamic application security testing (DAST).
- Professional Security Advisory & Incident Response8.0%
Elite penetration testing, Metasploit Pro commercial tools, and emergency breach forensics.
Business model and strategy
Abnormal AI
How it makes money
Abnormal sells annual software subscriptions to organizations, most of them large enterprises. Its core product, Inbound Email Security, connects to Microsoft 365 or Google Workspace through APIs, builds a baseline of each user's normal behavior, and removes messages that deviate from it.
Growth strategy
Abnormal grows by landing large enterprises with email security and then adding products on the same platform. Geographic expansion has added Germany (2025), Japan (from 2025, with SoftBank as reseller from 2026), Singapore (IMDA accreditation in 2026) and the U.S. public sector through FedRAMP Moderate and GovRAMP authorizations.
Competitive advantage
Abnormal's advantage is its API-based deployment and behavioral models. Because it connects directly to Microsoft 365 or Google Workspace, customers do not need to change MX records, and the platform can see internal mail and sign-in activity that an external gateway does not. In 2026 it launched Attune 1.0, a behavioral foundation model trained on more than one billion derived behavioral signals.
Rapid7
How it makes money
Rapid7 operates an enterprise Software-as-a-Service (SaaS) subscription and managed services business model with strong recurring revenue and high customer lifetime value: (1) Insight Platform SaaS Subscriptions (~80% of revenue), billed annually on a per-asset, per-user, or data-ingestion basis across InsightVM (vulnerability management), InsightIDR (cloud SIEM/XDR), InsightCloudSec (cloud security), and InsightConn…
Growth strategy
Under CEO Corey Thomas, Rapid7 is executing a four-pillar growth strategy: (1) Expanding MDR Market Leadership: Scaling Managed Detection and Response services to mid-sized enterprises facing severe cybersecurity talent shortages, delivering enterprise-grade 24/7 SOC protection at a fraction of internal build costs;
Competitive advantage
Rapid7's foundational competitive moat combines deep attacker-centric threat intelligence with integrated human-in-the-loop security operations.
Questions about Abnormal AI vs Rapid7
Which company has higher revenue — Abnormal AI or Rapid7?
Rapid7 had $835.0M (FY2024). A comparable annual revenue figure for Abnormal AI was unavailable here.
What is the market cap of Abnormal AI vs Rapid7?
Rapid7 has a market capitalisation of $2.5B. A public market cap figure for Abnormal AI was not available (it may be privately held).
How does revenue per employee compare for Abnormal AI and Rapid7?
Rapid7 generates $363k / employee in revenue per employee. A comparable figure for Abnormal AI requires matching employee and revenue data from the same reporting period.
How do Abnormal AI and Rapid7 make money?
Abnormal AI and Rapid7 generate revenue in fundamentally different ways. Abnormal AI: Abnormal sells annual software subscriptions to organizations, most of them large enterprises. Rapid7: Rapid7 operates an enterprise Software-as-a-Service (SaaS) subscription and managed services business model with strong recurring revenue and high customer lifetime value: (1) Insight Platform SaaS Subscriptions (~80% of revenue), billed annually on a per-asset, per-user, or data-ingestion basis across InsightVM (vulnerability management), InsightIDR (cloud SIEM/XDR), InsightCloudSec (cloud security), and InsightConnect (SOAR automation); (2) Managed Detection and Response (MDR) Services (~15% of revenue), providing 24/7/365 managed threat monitoring, human-led threat hunting, and automated incident response delivered by Rapid7's elite global Security Operations Centers; and (3) Professional Security Services & Metasploit Pro (~5% of revenue), encompassing adversary emulation, red-teaming penetration testing consulting, and commercial Metasploit software licensing.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Abnormal AI vs Rapid7 overview