Michael Wiggins De Oliveira is an inflection investor. This means buying into cheap companies at the moment when their narrative is changing and the business is on a path toward becoming significantly more profitable over the next year.With a focus on tech and “the Great Energy Transition (including uranium)”, Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outsta ...

Group 1 - Chewy Inc. is expected to report quarterly earnings of 14 cents per share on revenue of $3.08 billion, with shares gaining 3.8% to $43.70 in after-hours trading [2] - Rubrik Inc. reported second-quarter results that exceeded expectations and raised its full-year fiscal 2026 revenue outlook to a range of $1.227 billion to $1.237 billion, up from a previous range of $1.179 billion to $1.189 billion, while shares fell 3.6% to $94.91 [2] - Daktronics Inc. is anticipated to post quarterly earnings of 25 cents per share on revenue of $213.41 million, with shares gaining 0.6% to $17.53 in after-hours trading [2] - Synopsys Inc. reported weaker-than-expected third-quarter results and lowered its fiscal 2025 adjusted EPS guidance from a range of $15.11 to $15.19 to a new range of $12.76 to $12.80, leading to a 19.3% dip in shares to $487.99 [2] - Oxford Industries Inc. is expected to report quarterly earnings of $1.18 per share on revenue of $410.85 million, with shares rising 0.3% to $40.88 in after-hours trading [2]

Core Insights - Rubrik, Inc. focuses on security and AI solutions, recently reporting earnings for Q2 FY 2026, ending July 31, 2025 [1] Financial Performance - The company announced an EPS of -$0.03, significantly better than the estimated EPS of -$0.33, indicating progress towards profitability despite a negative P/E ratio of -36 [2] - RBRK reported revenue of approximately $310 million, surpassing the estimated revenue of about $282 million, reflecting strong sales generation with a price-to-sales ratio of 19.5 [3] Valuation Metrics - The enterprise value to sales ratio is around 19.5, consistent with the price-to-sales ratio, indicating a stable valuation perspective [4] - The enterprise value to operating cash flow ratio is high at 160.1, suggesting low cash flow generation relative to enterprise value, which may concern investors [4] - The current ratio of 1.16 indicates a reasonable level of short-term liquidity, with slightly more current assets than current liabilities [4] Strategic Developments - The recent acquisition of Predibase enhances RBRK's capabilities in delivering secure, efficient, and accelerated GenAI solutions, potentially bolstering growth prospects in the competitive tech industry [4]

For the quarter ended July 2025, Rubrik, Inc. (RBRK) reported revenue of $309.86 million, up 51.2% over the same period last year. EPS came in at -$0.03, compared to -$0.40 in the year-ago quarter.The reported revenue represents a surprise of +9.81% over the Zacks Consensus Estimate of $282.19 million. With the consensus EPS estimate being -$0.33, the EPS surprise was +90.91%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Rubrik, Inc. (RBRK) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to a loss of $0.4 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +90.91%. A quarter ago, it was expected that this company would post a loss of $0.33 per share when it actually produced a loss of $0.15, delivering a surprise of +54.55%.Over the last four quarters, the company has surpasse ...

Financial Data and Key Metrics Changes - Subscription ARR surpassed $1.25 billion, growing 36% year-over-year [4][20] - Subscription revenue was $297 million, growing 55% year-over-year [4][22] - Total revenue was $310 million, up 51% [22] - Free cash flow generated was over $57 million, representing a 19% margin [5][24] - Non-GAAP gross margin was 82%, compared to 77% in the year-ago period [22][23] Business Line Data and Key Metrics Changes - Net new subscription ARR reached $71 million in the second quarter [4][20] - Subscription NRR remained strong, above 120% [4][21] - Customers with $100,000 or more in subscription ARR crossed 2,500, growing 27% year-over-year [4][21] Market Data and Key Metrics Changes - Revenue from the Americas grew 53% to $225 million [22] - Revenue from outside the Americas grew 46% to $85 million [22] Company Strategy and Development Direction - Company is evolving into a security and AI company, focusing on cyber resilience and enterprise AI acceleration [6][8] - The Rubrik Security Cloud platform combines data security posture management, identity resilience, and cyber recovery [6][8] - The company aims to lead the cyber resilience market while building a future for enterprise AI [8][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities ahead, particularly in the cyber resilience market [6][20] - The company raised its outlook for the year, anticipating strong subscription ARR growth [20][24] - Management noted that the market is shifting towards an assumed breach mindset among IT and security leaders [7][8] Other Important Information - The company reported a significant improvement in subscription ARR contribution margin, up about 1,800 basis points year-over-year [4][23] - The acquisition of Predibase is expected to enhance the company's capabilities in generative AI [16][17] Q&A Session Summary Question: What has changed strategically to drive profitability? - Management highlighted the large and expanding market of cyber resilience and the efficiencies gained as the business scales [33][34] Question: Any impact from the sales compensation change on net new ARR? - Management indicated that the change has not materially impacted performance so far, with expectations for more insights by year-end [41][42] Question: How is the company leveraging data growth in its pricing model? - Management explained that the pricing model combines data volume and security features, allowing for growth as customer data and applications expand [47][48] Question: What drove the early renewal activity this quarter? - Management noted that early renewals were tied to expansion deals and were not directly related to the sales compensation structure changes [52][54] Question: What is the outlook for the federal market? - Management sees the federal market as a significant opportunity, continuing to invest in growth and recently receiving FedRAMP moderate certification [85]

Financial Data and Key Metrics Changes - Subscription ARR surpassed $1.25 billion, growing 36% year-over-year [5][21] - Subscription revenue was $297 million, growing 55% year-over-year [5][23] - Free cash flow generated was over $57 million, marking a significant improvement [5][25] - Non-GAAP gross margin was 82%, up from 77% in the previous year [23][24] - Subscription ARR contribution margin improved by approximately 1,800 basis points year-over-year [24] Business Line Data and Key Metrics Changes - Net new subscription ARR reached $71 million in the second quarter [5][21] - Customers with $100,000 or more in subscription ARR crossed 2,500, growing 27% year-over-year [5][22] - Subscription net retention rate remained strong, above 120% [5][21] Market Data and Key Metrics Changes - Revenue from the Americas grew 53% to $225 million, while revenue from outside the Americas grew 46% to $85 million [23] - Cloud ARR reached $1.1 billion, up 57% [21] Company Strategy and Development Direction - Company is evolving into a security and AI company, focusing on cyber resilience and enterprise AI acceleration [7][9] - The Rubrik Security Cloud platform is central to their strategy, combining data security and identity resilience [7][9] - Continued investment in R&D to drive innovation in data, security, and AI markets [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities within the cyber resilience market [7][25] - The company raised its outlook for the year, anticipating strong subscription ARR growth [25][29] - Management noted that the market is shifting towards an assumed breach mindset among IT and security leaders [8] Other Important Information - The company reported a significant increase in free cash flow margin to 19% [34][36] - Material rights related to cloud transformation contributed approximately 7% to revenue growth this quarter [23][28] Q&A Session Summary Question: Free cash flow margin and profitability changes - Management attributed the increase in free cash flow margin to stronger ARR performance and capital structure optimization [34][36] Question: Impact of sales compensation changes on net new ARR - Management indicated that the sales compensation change did not materially impact performance in the first half of the year [42][43] Question: Drivers of early renewal activity - Early renewals were linked to expansion deals and multi-year contracts, not directly related to compensation structure changes [54][56] Question: Data growth leverage and pricing model - Management explained that pricing is based on both data volume and security features, with multiple growth vectors available [49][50] Question: DSPM market adoption and competitive landscape - Management believes that combining data and identity resilience is crucial for complete cyber resilience, and sees a growing opportunity in the DSPM market [68][69] Question: Competitive environment and deal win rate - Management reported a strong win rate against both legacy and new Gen vendors due to their differentiated platform [74][75] Question: Fed market opportunities - Management noted ongoing investments in the Fed market, highlighting recent wins and the importance of cyber resilience for federal organizations [87][88] Question: Deal sizes and renewal patterns across tiers - Management confirmed that nearly half of new deals are in the enterprise tier, with various expansion paths available for customers [90][91]

Financial Data and Key Metrics Changes - Subscription ARR surpassed $1.25 billion, growing 36% year-over-year [4][20] - Subscription revenue was $297 million, growing 55% year-over-year [4][22] - Total revenue was $310 million, up 51% [22] - Free cash flow generated was over $57 million, representing a 19% margin [5][24] - Non-GAAP gross margin was 82%, compared to 77% in the year-ago period [22][23] Business Line Data and Key Metrics Changes - Net new subscription ARR reached $71 million in the second quarter [4][20] - Subscription NRR remained strong, above 120% [4][21] - Customers with $100,000 or more in subscription ARR crossed 2,500, growing 27% year-over-year [4][21] Market Data and Key Metrics Changes - Revenue from the Americas grew 53% to $225 million [22] - Revenue from outside the Americas grew 46% to $85 million [22] Company Strategy and Development Direction - Company is evolving into a security and AI company, focusing on cyber resilience and enterprise AI acceleration [6][8] - The Rubrik Security Cloud platform combines data security posture management, identity resilience, and cyber recovery [6][7] - The company aims to lead the cyber resilience market while building a future for enterprise AI [8][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities ahead, particularly in the cyber resilience market [6][20] - The company raised its outlook for the year based on strong performance and market demand [20][24] - Management highlighted the importance of cyber resilience for businesses transitioning to AI enterprises [33][34] Other Important Information - The company reported a significant improvement in subscription ARR contribution margin, up about 1,800 basis points year-over-year [4][23] - The acquisition of Prettibase is expected to enhance capabilities in generative AI [17][18] Q&A Session Summary Question: Free cash flow margin and profitability changes - Management noted that strong ARR performance and margin improvement drove the 19% free cash flow margin, with expectations for continued improvement in the second half [33][35] Question: Impact of sales compensation changes on net new ARR - Management indicated that the sales compensation change did not materially impact performance in the first half, with expectations for a clearer picture by year-end [41][42] Question: Drivers of early renewal activity - Early renewals were primarily tied to expansion deals and multi-year contracts, not directly related to changes in sales compensation structure [52][54] Question: Non-cloud ARR decline - The decline in non-cloud ARR is attributed to ongoing migrations to cloud solutions, with expectations for stabilization in the future [52][55] Question: DSPM market adoption and competitive landscape - Management believes that combining data security and identity resilience will drive future growth in the DSPM market, with a holistic approach to cyber resilience [66][67] Question: Competitive environment and deal win rates - The company continues to win a majority of deals against both legacy and new Gen vendors due to its differentiated platform [72][73] Question: Fed market opportunities - The company is investing in the Fed market, which is seen as a significant opportunity for cyber resilience solutions [85][86] Question: Deal sizes and renewal patterns across tiers - Nearly half of new deals are in the Enterprise tier, with expansion paths varying based on customer needs and existing contracts [88][90]

Rubrik (NYSE:RBRK) Q2 2026 Earnings Call September 09, 2025 05:00 PM ET Speaker2Good afternoon, ladies and gentlemen, and welcome to the Rubrik Second Quarter Fiscal Year 2026 Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press *0 for the operator. This call is being recorded on Tuesday, September 9, 2025. I would now like to turn t ...

Joining me now for an exclusive interview before the analyst call is Rubric co-founder and CEO Bipple SA. Bipple, I got to draw a bit of a parallel here between you guys and Oracle in that what's happening in AI, what we've seen with some of the biggest tech companies out there is having ripple effects throughout the enterprise ecosystem. How is it affecting uh resilience, recovery, and cyber security.Great to be with you again, John. uh AI is really forcing enterprises to transform their infrastructure, tr ...