Rapid7 vs Snyk: Revenue, Profit and Business Model
Rapid7 had $835M of annual revenue in FY2024 and a net loss of $98M. Snyk had $309.2M of annual revenue in FY2025 and a net loss of $197.9M.
Latest financial snapshot
Financial summary
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.
Snyk
Snyk does not report quarterly results, but its UK statutory accounts give a yearly view. Revenue reached $278.4 million in 2024 and $309.2 million in 2025, an 11% increase that marked a sharp slowdown from 50% growth in 2023. The 2025 operating loss was $202.7 million and the net loss $197.9 million, up from $166.5 million in 2024. Cash, short-term investments and restricted cash totalled $291.3 million at the end of 2025, or $367.8 million including longer-term investments (down from $412.4 million). The company raised more than $1 billion as a private company, peaking at an $8.5 billion valuation in 2021 before a $196.5 million Series G at $7.4 billion in 2022.
Revenue and profit by year
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 |
Snyk
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $309.2M | -$197.9M | -64.0% | — | Source |
| FY2024 run-rate | $278.4M | -$166.5M | — | — | Source |
| FY2023 | $220M | — | — | — | Source |
Where the revenue comes from
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.
Snyk
No segment breakdown is published.
Business model and strategy
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.
Snyk
How it makes money
Snyk sells subscription software (SaaS). A free tier for individual developers and open-source projects drives bottom-up adoption; paid Team and Enterprise plans are priced mainly by the number of contributing developers and the products used.
Growth strategy
Snyk is repositioning around securing AI-driven software development. It bought Zurich-based Invariant Labs in June 2025 to research threats to AI agents, such as Model Context Protocol (MCP) vulnerabilities and tool poisoning, and is building an AI-native security platform alongside its existing scanners.
Competitive advantage
Snyk's edge rests on developer adoption and workflow placement. Its tools run where developers already work (VS Code, JetBrains IDEs, GitHub, GitLab, Bitbucket, CI pipelines), open fix pull requests instead of only reporting issues, and draw on a vulnerability database curated by Snyk's own security research team. Being independent of any single code host or cloud lets it serve enterprises that use several of them.
Questions about Rapid7 vs Snyk
Which company has higher revenue — Rapid7 or Snyk?
Rapid7 had $835.0M (FY2024), while Snyk had $309.2M (FY2025). By latest annual revenue, Rapid7 is the larger business, with Snyk showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Rapid7 vs Snyk?
Rapid7 has a market capitalisation of $2.5B. A public market cap figure for Snyk was not available (it may be privately held).
How does revenue per employee compare for Rapid7 and Snyk?
Rapid7 has $363k / employee in revenue per employee, while Snyk has $312k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Rapid7 and Snyk make money?
Rapid7 and Snyk generate revenue in fundamentally different ways. 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. Snyk: Snyk sells subscription software (SaaS).
Is Rapid7 bigger than Snyk?
By last reported revenue, Rapid7 ($835.0M (FY2024)) is the larger company compared to Snyk ($309.2M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
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 Rapid7 vs Snyk overview