Group 1 - The stock market is currently influenced by macroeconomic fears, particularly regarding the impact of tariffs on the U.S. economy and the effects of rising geopolitical tensions on global growth [1] - Gary Alexander has extensive experience in covering technology companies and has been involved with seed-round startups, providing insights into current industry themes [1] Group 2 - Alexander has been a contributor to Seeking Alpha since 2017 and has been quoted in various web publications, indicating his influence and reach within the investment community [1]

Financial Performance - The company reported a significant increase in revenue, with a year-over-year growth of 25% in Q1 2026, reaching $150 million[8] - The company anticipates continued growth, projecting revenue to reach between $600 million and $650 million for the fiscal year 2026, representing a growth rate of approximately 20%[8] - The company reported a net loss of $5 million for the quarter, but expects to achieve profitability by Q4 2026[8] User Growth - User data showed a 30% increase in active users, totaling 1.2 million users on the platform[8] Product Development - New product launches are expected to contribute an additional $50 million in revenue by the end of Q2 2026[8] - The company is investing $20 million in research and development to enhance its data security solutions and introduce innovative features[8] Market Strategy - Market expansion efforts are underway, targeting an increase in market share by 15% in the next 12 months[8] - The company is exploring potential acquisitions to bolster its technology stack and expand its service offerings[8] Operating Expenses - Operating expenses increased by 10% due to higher marketing costs associated with new product launches[8] Risk Factors - Risk factors include potential challenges in customer retention and competition in the data security market, which could impact future growth[8] - The company has experienced rapid growth, but this may not be indicative of future performance, making it difficult to evaluate future prospects[17] - The market for data security solutions must grow for the company to sustain its business growth and operational results[17] - The company has a limited operating history with its Rubrik Security Cloud offering, complicating future operational forecasts[17] - A history of operating losses raises concerns about the company's ability to achieve or maintain profitability[17] - Customer subscription renewals and expansions are critical; failure to secure these could harm operational results[17] - The company faces risks related to the performance and perception of its data security solutions, which could damage its brand and reputation[17] - Reliance on third-party cloud providers poses risks; disruptions could adversely affect business and financial conditions[17] - The competitive nature of the markets requires effective competition; failure to do so could harm financial results[17] - Estimates of market opportunity and growth may prove inaccurate, potentially leading to slower business growth than anticipated[17] - The dual class structure of common stock concentrates voting control, limiting influence on corporate matters and potentially affecting stock price[17]

Core Insights - Rubrik, Inc. reported better-than-expected first-quarter results, with losses of 15 cents per share, surpassing the analyst consensus estimate of 32 cents losses. Quarterly revenue reached $278.48 million, exceeding the Street estimate of $260.35 million [1][3]. Financial Performance - The company raised its fiscal 2026 adjusted EPS guidance to a range of losses between $1.02 and $0.96, compared to the previous estimate of losses of $1.15. Additionally, Rubrik increased its fiscal revenue outlook to between $1.18 billion and $1.19 billion, up from the $1.16 billion estimate [3]. Market Reaction - Following the earnings announcement, Rubrik shares gained 2.6%, trading at $100.93 [3]. Analyst Ratings - Rosenblatt analyst Blair Abernethy maintained a Buy rating on Rubrik and raised the price target from $82 to $110. Keybanc analyst Eric Heath also maintained an Overweight rating, increasing the price target from $98 to $113 [8]. CEO Commentary - CEO Bipul Sinha emphasized the strong first-quarter results, highlighting the company's focused innovation and execution in the cyber resilience market, suggesting that the opportunity for growth is larger than ever [2].

Financial Performance - For the quarter ended April 2025, Rubrik, Inc. reported revenue of $278.48 million, which is an increase of 48.7% year-over-year [1] - The earnings per share (EPS) for the quarter was -$0.15, a significant improvement from -$1.58 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $260.22 million, resulting in a surprise of +7.02% [1] - The company delivered an EPS surprise of +54.55%, with the consensus EPS estimate being -$0.33 [1] Key Metrics - Subscription Annual Recurring Revenue (ARR) was reported at $1,181.27 million, surpassing the three-analyst average estimate of $1,155.96 million [4] - The number of customers with $100K or more in Subscription ARR reached 2,381, compared to the estimated 2,362 [4] - Subscription revenue was $265.66 million, exceeding the average estimate of $247.37 million [4] - Other revenue was $10.49 million, above the average estimate of $8.48 million [4] - Maintenance revenue was $2.33 million, slightly below the average estimate of $2.38 million [4] - Gross profit from Subscription was $213.75 million, compared to the average estimate of $202.30 million [4] Stock Performance - Shares of Rubrik, Inc. have returned +30% over the past month, significantly outperforming the Zacks S&P 500 composite's +5.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Rubrik, Inc. reported a quarterly loss of $0.15 per share, which was better than the Zacks Consensus Estimate of a loss of $0.33, and a significant improvement from a loss of $1.58 per share a year ago, representing an earnings surprise of 54.55% [1] - The company posted revenues of $278.48 million for the quarter ended April 2025, exceeding the Zacks Consensus Estimate by 7.02%, and up from $187.32 million in the same quarter last year [2] Stock Performance - Rubrik, Inc. shares have increased approximately 50.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.35 on revenues of $270.67 million, and for the current fiscal year, it is -$1.14 on revenues of $1.15 billion [7] - The estimate revisions trend for Rubrik, Inc. is mixed, resulting in a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Industry Context - The Internet - Software industry, to which Rubrik belongs, is currently ranked in the top 23% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - Subscription ARR reached approximately $1,200 million, growing 38% year over year [6][30] - Subscription revenue was $266 million, growing 54% year over year [6][32] - Free cash flow was over $33 million, a significant improvement from negative $37 million in the same quarter last year [7][36] - Non-GAAP gross margin was 80.5%, up from 75.4% year over year [33] Business Line Data and Key Metrics Changes - Net new subscription ARR reached $89 million in the first quarter [6][30] - Subscription NRR remained strong above 120% [6][32] - Customers with $100k or more in subscription ARR reached 2,381, growing 28% year over year [6][32] Market Data and Key Metrics Changes - Revenue from the Americas grew 51% to $203 million, while revenue from outside the Americas grew 43% to $75 million [33] - Cloud ARR reached $972 million, up 60% [30] Company Strategy and Development Direction - The company focuses on cyber resilience as a top cybersecurity priority, with a unique platform that combines data and identity security [9][10] - Rubrik aims to innovate continuously across data security and AI, leveraging a portfolio approach to manage innovations [11][14] - The company is expanding its offerings in identity resilience, which is seen as a significant growth opportunity [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the cyber resilience market and the demand for their differentiated offerings [37][76] - The company raised its guidance for the year, anticipating strong subscription ARR growth [39][40] Other Important Information - The company has a strong cash position with $762 million in cash and equivalents and $323 million in debt [36] - The company is investing in R&D to drive innovation in data security and AI [37] Q&A Session Summary Question: How long is the runway for the shift from legacy to next-gen solutions? - Management indicated that the shift is expanding the total addressable market (TAM) due to the rise in identity-based attacks and the need for comprehensive cyber resilience [46][48] Question: What is happening to sales cycles and awareness of Rubrik's capabilities? - Management noted that the current market environment is pushing enterprises to modernize their infrastructure, which is benefiting Rubrik's offerings [54][56] Question: How is the demand environment characterized? - Management stated that cyber resilience is a top priority for CIOs and CSOs, and they are not seeing any change in demand [75][76] Question: What is the size of the identity resilience opportunity? - Management emphasized that identity security is a critical component of their strategy, and they are seeing great momentum in this area [63][65] Question: What are the technical advantages Rubrik brings to identity security? - Management highlighted the unique ability to combine identity and data security, enabling faster recovery times and preventing malware reintroduction [114][115]

Financial Data and Key Metrics Changes - Subscription ARR reached approximately $1,200 million, growing 38% year over year [7][33] - Subscription revenue was $266 million, growing 54% year over year [7][35] - Subscription NRR remained strong above 120% [7][34] - Free cash flow was over $33 million, a significant improvement from negative $37 million in the same quarter last year [8][38] - Non-GAAP gross margin improved to 80.5% from 75.4% year over year [36] Business Line Data and Key Metrics Changes - Cloud ARR reached $972 million, up 60% [34] - Customers with subscription ARR of $100,000 or more increased to 2,381, growing 28% year over year [7][35] - Subscription ARR contribution margin improved by over 1,800 basis points year over year [8][37] Market Data and Key Metrics Changes - Revenue from the Americas grew 51% to $203 million, while revenue from outside the Americas grew 43% to $75 million [36] - The company operates in a $50 billion market for cyber resilience, with significant growth opportunities in identity resilience [78] Company Strategy and Development Direction - The company focuses on cyber resilience as a top priority, leveraging a unique platform that combines data and identity security [10][76] - The strategy includes a two-platform approach, transforming legacy backup into a comprehensive data security platform [51][102] - Investments in R&D and go-to-market strategies will continue to drive innovation and market penetration [39][91] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the cyber resilience market and the demand for differentiated offerings [39][78] - The company anticipates strong subscription ARR growth and has raised its guidance for the fiscal year [41][42] - Management noted that the current market environment is favorable for the adoption of generative AI and modernization of infrastructure [58][60] Other Important Information - The company has successfully integrated its DSPM Laminar product, resulting in a 300% year-over-year increase in DSPM ARR [66] - The company is focused on combining identity security with data security to create a comprehensive solution for customers [66][118] Q&A Session Summary Question: How long is the runway for the shift from legacy to next-gen solutions? - Management indicated that the shift is expanding the total addressable market (TAM) due to rising identity-based attacks and the need for comprehensive cyber resilience [50][52] Question: What is happening to sales cycles and awareness of Rubrik's capabilities? - Management believes they are at the front end of a significant trend in data security and AI, with increasing awareness leading to faster sales cycles [56][60] Question: How does Rubrik differentiate in identity resilience? - The company combines identity and data security on a single platform, allowing for faster recovery times and preventing malware reintroduction [117][118] Question: What is the demand environment for cybersecurity? - Management stated that cyber resilience is a top priority for CIOs and CSOs, with no change in demand environment observed [77][78] Question: What are the top priorities for Rubrik in the next 12-18 months? - The focus will be on creating a unified platform for data and identity security, ensuring comprehensive risk management and recovery capabilities [102][103]

Financial Performance - Rubrik reported quarterly losses of 15 cents per share, beating the analyst consensus estimate of losses of 32 cents [1] - Quarterly revenue was $278.48 million, exceeding the Street estimate of $260.35 million [1] Management Commentary - CEO Bipul Sinha highlighted that the first-quarter results surpassed all guided metrics, emphasizing the company's success in the cyber resilience market and the growing opportunity [2] Future Outlook - Rubrik raised its fiscal 2026 adjusted EPS guidance to a range of losses of $1.02 to losses of 96 cents, compared to the previous estimate of losses of $1.15 [3] - The company increased its fiscal revenue outlook to between $1.18 billion and $1.19 billion, surpassing the previous estimate of $1.16 billion [3] Subscription Metrics - Subscription ARR grew by 38% year-over-year, reaching $1.18 billion as of April 30, 2025 [4] - Subscription revenue increased by 54%, amounting to $265.7 million compared to $172.2 million in the first quarter of fiscal 2025 [4] - Non-GAAP gross margin improved to 80.5%, up from 75.4% in the first quarter of fiscal 2025 [4]

Rubrik Reports First Quarter Fiscal Year 2026 Financial Results Palo Alto, California, June 5, 2025 – Rubrik, Inc. (NYSE: RBRK), the cyber resilience company, today announced financial results for the first quarter fiscal year 2026, ended April 30, 2025. "Our outstanding first-quarter results not only surpassed all guided metrics but also underscore the power of our focused innovation and execution. We are winning the cyber resilience market, and I believe that our opportunity is bigger than ever," said Bip ...

Investor Presentation First Quarter Fiscal 2026 Copyright © Rubrik 2025 11 Copyright © Rubrik 2025 Important Notice and Disclaimers Forward-Looking Statements This presentation includes express and implied forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on Rubrik, Inc.'s ("Rubrik" or the "Company") management's beliefs and assumptions and on information currently available to management. All statements other than statements of historical ...