Rubrik Stock Jumps After Q3 Earnings: Here's Why

Core Insights - Rubrik, Inc. reported Q3 earnings that exceeded expectations, with adjusted earnings of 10 cents per share compared to a consensus estimate of a loss of 17 cents [1] - The company's quarterly revenue reached $350.17 million, surpassing the Street estimate of $319.25 million and showing a significant increase from $236.18 million in the same period last year [2] Financial Performance - Subscription Annual Recurring Revenue (ARR) grew by 34% year-over-year to $1.35 billion [5] - The number of customers with $100K or more in subscription ARR increased by 27% year-over-year, totaling 2,638 [5] - The subscription ARR contribution margin improved to 10.3%, compared to -3.3% in the third quarter of fiscal 2025 [5] - Non-GAAP gross margin was reported at 82.8%, up from 79.2% in the third quarter of fiscal 2025 [5] Future Outlook - Rubrik raised its fiscal 2026 adjusted loss per share guidance to a range of a loss of 20 cents to a loss of 16 cents, significantly better than the analyst estimate of a loss of 49 cents per share [4] - The company also increased its fiscal 2026 revenue outlook to between $1.28 billion and $1.282 billion, compared to the previous estimate of $1.23 billion [4] Market Reaction - Following the earnings report, Rubrik's stock price rose by 10.1% to $77.60 in extended trading [4]