Rubrik, Inc.(US:RBRK)2025-12-04 21:06Financial Performance - Subscription ARR grew 34% year-over-year to $1.35 billion as of October 31, 2025[5] - Total revenue increased 48% year-over-year to $350.2 million, with subscription revenue at $336.4 million, a 52% increase from $221.5 million in Q3 FY 2025[6] - Total revenue for the three months ended October 31, 2025, was $350,166,000, representing a 48.2% increase from $236,178,000 in the same period of 2024[29] - Subscription revenue for the nine months ended October 31, 2025, reached $899,008,000, up 53.6% from $585,021,000 in the prior year[29] - Gross profit for the three months ended October 31, 2025, was $282,029,000, compared to $180,032,000 for the same period in 2024, indicating a gross margin improvement[29] - Non-GAAP total gross profit for the nine months ended October 31, 2025, reached $766,853, compared to $485,949 in the same period of 2024, reflecting a 57.8% growth[35] - GAAP total gross margin improved to 81% in Q3 2025 from 76% in Q3 2024, while non-GAAP total gross margin increased to 83% from 79%[35] Cash Flow and Financial Position - Free cash flow reached over $76 million, compared to $15.6 million in Q3 FY 2025[6] - Cash and cash equivalents increased to $307,100,000 as of October 31, 2025, from $186,331,000 at the beginning of the year[31] - The company reported a net cash provided by operating activities of $189,863,000 for the nine months ended October 31, 2025, compared to a cash outflow of $35,369,000 in the prior year[33] - Proceeds from the issuance of convertible senior notes amounted to $1,129,875,000, contributing to the company's financing activities[33] - The company reported a net cash used in investing activities of $(109,760) for Q3 2025, compared to $(72,139) in Q3 2024[37] Customer Growth and Market Position - The number of customers with $100K or more in subscription ARR increased by 27% year-over-year to 2,638[6] - Deferred revenue increased to $968,167,000 as of October 31, 2025, compared to $777,135,000 at the beginning of the year, indicating strong future revenue potential[31] Guidance and Outlook - Fourth quarter revenue guidance is between $341 million and $343 million[11] - Full year 2026 revenue outlook is projected between $1,280 million and $1,282 million[11] - Non-GAAP net loss per share for Q4 FY 2026 is expected to be between $(0.12) and $(0.10)[11] Operational Efficiency - Operating expenses for the nine months ended October 31, 2025, totaled $1,009,365,000, down from $1,439,068,000 in the previous year, reflecting a reduction in costs[29] - Non-GAAP operating expenses for the nine months ended October 31, 2025, were $1,014,253, compared to $887,818 in 2024, reflecting a 14.3% increase[37] - Operating cash flow margin improved to 24% in Q3 2025 from 10% in Q3 2024, indicating enhanced operational efficiency[37] Loss and Margin Improvement - Net loss for the nine months ended October 31, 2025, was $261,862,000, a decrease from $1,039,931,000 in the same period of 2024[29] - Non-GAAP net income for Q3 2025 was $22,853, compared to a loss of $37,782 in Q3 2024, showing a positive turnaround[36] - GAAP net loss per share for Q3 2025 was $(0.32), an improvement from $(0.71) in Q3 2024[36] - GAAP gross margin improved to 80.5%, up from 76.2% in Q3 FY 2025[6] Product Development and Partnerships - Launched Rubrik Agent Cloud to enhance Enterprise AI Agent adoption and risk management[6] - Expanded partnership with CrowdStrike to improve identity security and resilience against cyber threats[11]