Financial Performance - Rubrik's Subscription ARR reached $1347 million, demonstrating a 34% year-over-year growth[11] - Cloud ARR within the Subscription ARR reached $1175 million, showing a 53% year-over-year growth[43] - The company maintains a high Average Subscription Dollar-Based Net Retention Rate (NRR) of over 120%[33] - Rubrik's Non-GAAP Gross Margin stands at 83%[33] - The company anticipates revenue growth on a reported basis will lag Subscription ARR growth by a few percentage points in FY27, primarily due to headwinds from material rights[82] Customer Growth - The number of customers with over $100,000 in Subscription ARR has increased to 2638[33] Product and Strategy - Rubrik is focusing on Cyber Resilience and AI transformation with its platform[8] - The company is emphasizing a Code to Cloud Cyber Resilience Platform approach to eliminate multi-cloud complexity[17] - Rubrik is expanding its offerings in Identity Resilience to secure identity infrastructure[18] Future Outlook - The company projects Subscription ARR for FY2026 to be between $1439 million and $1443 million[79] - Rubrik expects a total contribution of approximately $68 million in non-recurring revenue related to material rights in FY26[82]

Core Insights - Rubrik (RBRK) is set to announce its third-quarter fiscal 2026 results on December 4, with expected revenues between $319 million and $321 million, indicating a year-over-year growth of 35% to 36% [1][9] - The Zacks Consensus Estimate for revenues stands at $320.93 million, reflecting a year-over-year increase of 35.88% [1][2] - The consensus estimate for loss is 17 cents per share, which has widened by a penny over the past month, compared to a loss of 21 cents per share in the same quarter last year [2] Revenue and Growth Expectations - Rubrik's fiscal third-quarter performance is anticipated to benefit from its strong position in the growing cyber resilience market and increasing demand for data security solutions [3] - The company has shown robust subscription Annual Recurring Revenue (ARR) growth, with a 27% year-over-year increase in customers with over $100K in subscription ARR, totaling 2,505 customers as of July 31, 2025 [4] - Cloud ARR grew by 57% year-over-year, reaching $1.1 billion, driven by the adoption of the Rubrik Security Cloud platform, which is expected to positively impact the upcoming quarter's performance [4][6] Subscription ARR and Margins - For the third quarter of fiscal 2026, Rubrik expects a non-GAAP subscription ARR contribution margin of approximately 6.5% [5] - The company anticipates subscription ARR growth in the upcoming quarter, with net new subscription ARR contributing approximately 21% to 22% of the full-year net new subscription ARR [5] Clientele and Partnerships - Rubrik's expanding clientele includes major players like Amazon Web Services (AWS), CrowdStrike, and Microsoft, which has been a key growth catalyst [12] - In November 2025, Rubrik announced a collaboration with AWS to enhance cyber resilience, integrating Rubrik's Preemptive Recovery Engine and Security Cloud with AWS's secure infrastructure [13] - The company also announced that Rubrik Agent Cloud will work with Microsoft Copilot Studio, facilitating secure scaling of AI agents [14] Competitive Landscape - Despite its expanding clientele, Rubrik faces stiff competition from Fortinet, which is enhancing its cybersecurity ecosystem [18] - Fortinet's partnership with Armis aims to provide a unified security ecosystem, increasing competition in the cybersecurity market [19] Market Performance - Rubrik shares have declined by 30.1% over the past six months, underperforming the broader Zacks Computer and Technology sector, which returned 27.8% [7] - The company's stock is considered to have a stretched valuation, with a forward 12-month Price/Sales ratio of 9.07X, significantly higher than the industry's 4.87X [10]

Core Insights - Commvault has achieved the AWS Resilience Competency in the Recovery category, recognizing its validated solutions for enhancing critical systems availability and resilience on AWS [1][2][3] Group 1: Company Achievements - The AWS Resilience Competency reflects Commvault's technical proficiency and proven success in supporting AWS customers' resilience goals [2][3] - Commvault's cloud-native platform provides visibility, automation, and recovery intelligence essential for securing critical workloads on AWS [3][6] Group 2: Product Offerings - Commvault supports a wide range of AWS workloads, including Amazon S3, Amazon EC2, and Amazon DynamoDB, through its Commvault Cloud platform [3][4] - The company has introduced a new multi-product listing in AWS Marketplace, featuring its key solutions: Commvault Cloud, Cloud Rewind, and Clumio [4] Group 3: Industry Context - Organizations are increasingly pressured to protect data from cyber threats and operational disruptions, particularly with the rapid adoption of AI technologies [3][6] - Commvault aims to enable customers to build a more resilient future by leveraging AWS services [3]

Core Insights - Rubrik Inc. (NYSE:RBRK) is recognized as a promising stock with significant upside potential, particularly following the announcement of two new offerings aimed at enhancing cyber resilience for enterprises [1] Group 1: New Offerings - Rubrik introduced the Intelligent Business Recovery for Microsoft 365, which enhances traditional data recovery methods by providing automated, business-aware recovery that restores critical users and their associated data across Microsoft 365 applications [2] - The DevOps Protection for Azure DevOps & GitHub addresses the need to protect intellectual property and artifacts within modern DevOps platforms, which are increasingly targeted by cyberattacks. This offering aims to secure the entire software and AI development lifecycle [3] Group 2: Company Overview - Rubrik Inc. provides data security solutions globally, serving various sectors including financial, retail, transportation, energy, healthcare, technology, and public sectors [4]

Core Insights - Commvault is showcasing its cyber resilience and recovery solutions at Microsoft Ignite, emphasizing its leadership in unified resilience at enterprise scale [1] - The company is participating in discussions on improving organizational readiness for cyberattacks, highlighting actionable strategies for recovery [2] - Commvault is offering product demonstrations of its complete cyber resilience platform, including features like Cloud Rewind and Air Gap Protect [3] - The SHIFT Virtual 2025 event will feature insights from Commvault executives on AI trends and the company's latest offerings [4] Company Overview - Commvault is recognized as a leader in unified resilience at enterprise scale, focusing on data security, identity resilience, and cyber recovery on a cloud-native, AI-enabled platform [4] - The company aims to enable organizations to safely adopt AI while protecting against AI-driven threats, ensuring comprehensive recovery capabilities [4]

Joining me now in a CNBC exclusive, Convault CEO Sanjay Merchandonni. Sanjay, I want to talk to you about your news today and your outlook for 2026. But first, we haven't spoken on air since earnings.So, uh, tell us about this shift in term duration. What's happening beneath the surface with your subscription revenues. >> Hey, John.Yeah, we haven't spoken in a few weeks, but um you know what what what what is happening essentially is that we had a bit of a mix shift between our term license or software and ...

Core Insights - Commvault announced an expansion of its Identity Resilience portfolio, enhancing capabilities to detect threats in Active Directory (AD), log malicious changes, and roll back to a trusted state [1][4][11] - The integration of Commvault's AD forest recovery with Cleanroom Recovery allows for isolated recovery testing without disrupting production systems [5][6][7] Identity Resilience Enhancements - The new advancements enable enterprises to identify hard-to-detect threats in AD, maintain an audit trail of changes, and reverse unwanted modifications in real time [9][11] - Commvault's solutions address the significant risk posed by AD, which is targeted in 90% of attacks due to its control over access to critical business operations [3][5] Integration with Cleanroom Recovery - The integration allows customers to recover AD forests in a cleanroom environment, facilitating preemptive testing of recovery plans [6][7] - This approach minimizes disruption to identity systems while ensuring readiness for potential attacks [5][6] Overall Impact - Commvault's end-to-end Identity Resilience portfolio aims to provide comprehensive protection and recovery solutions, reducing total cost of ownership (TCO) for customers [7][11] - The advancements will be available for early access in early 2026, following their introduction at SHIFT 2025 [8][11]

Financial Data and Key Metrics Changes - Total ARR for the third quarter was $528.1 million, reflecting a 14% year-over-year growth on a reported basis and 13% on a constant currency basis [29] - Total revenue reached $131.7 million, exceeding guidance by $3.7 million, representing approximately 13% year-over-year growth on a reported basis and 12% on a constant currency basis [29] - Adjusted EBITDA margin was approximately 31.4%, with adjusted EBITDA of $41.4 million, which was $4.4 million above the high end of guidance [30] - Dollar-based net revenue retention was approximately 102% on a reported basis, indicating improvement year-over-year and quarter-over-quarter [30][25] Business Line Data and Key Metrics Changes - The data protection solution led net new ARR growth in the quarter, showcasing strong demand for security operations and unified endpoint management (UEM) [20][25] - The company launched anomaly detection as a service, enhancing its data protection capabilities and shifting focus from reactive defense to proactive resilience [19] Market Data and Key Metrics Changes - Approximately 45% of revenue was generated outside of North America, indicating a diversified market presence [31] - The company reported a significant increase in detected threats against small and mid-market businesses, highlighting the growing need for cybersecurity solutions [8] Company Strategy and Development Direction - The company is focused on driving security success, scaling its go-to-market strategy, and boosting customer expansion, with a channel-first model proving effective [19][21] - N-able is embedding AI capabilities across its platform to enhance cybersecurity solutions, positioning itself as a leader in the evolving cybersecurity landscape [10][17] - The company aims to democratize security by providing advanced AI SOC capabilities at a fraction of the cost, targeting small and mid-market businesses [15] Management's Comments on Operating Environment and Future Outlook - Management emphasized the critical role of AI in driving demand for cybersecurity solutions and the importance of embedding AI into their platform [10][26] - The outlook for the fourth quarter includes expected total revenue in the range of $126.5-$127.5 million, representing approximately 9% year-over-year growth [33] - The company raised its full-year ARR outlook to $530-$531 million, reflecting a commitment to balancing profitability with growth [34] Other Important Information - The company executed a share repurchase program, demonstrating confidence in its long-term value [26] - N-able's recent initiatives, such as sponsoring CATNIP, aim to standardize AI language across organizations, enhancing automation and efficiency [11] Q&A Session Summary Question: What are the keys behind the building momentum in ARR revenue? - Management attributed the acceleration to successful execution around the Adlumen acquisition and broadening channel presence [39][46] Question: How confident is management that net revenue retention has bottomed? - Management expressed high confidence that net revenue retention bottomed in the first quarter and has been improving due to successful cross-selling and gross retention efforts [49][50] Question: How is the Adlumen acquisition performing relative to initial expectations? - Management indicated that the acquisition thesis is holding true, with strong demand and successful scaling within the MSP community [70][71] Question: What is the company's approach to investing in AI? - Management confirmed ongoing investments in AI, viewing it as a significant opportunity for both short-term and mid-term growth, while maintaining a focus on achieving 30% EBITDA margins [76][80]

Financial Performance & Growth - N-able's Annual Recurring Revenue (ARR) reached $528 million as of September 30, 2025[8] - The company achieved a Net Retention Rate of 102% (TTM)[8] - N-able experienced 14% ARR growth[8] - The Non-GAAP Adjusted EBITDA Margin (TTM) was 31%[8] - The Non-GAAP Gross Margin (TTM) was 81%[8] - The company projects full-year 2025 revenue between $507.7 million and $508.7 million, representing a 9% year-over-year growth (8% at constant currency)[62] - The company projects full-year 2025 Adjusted EBITDA between $148.2 million and $149.2 million, with a 29% margin[62] Market Opportunity & Strategy - The Small and Mid-market IT Total Addressable Market (TAM) is estimated at $2.1 trillion in 2025[13] - N-able estimates its total TAM across Unified Endpoint Management (UEM), Data Protection, and Security Operations at $44 billion[22] - N-able sees a cross-sell opportunity of over $2.5 billion across its product lines[52]

Core Insights - Veeam App for Microsoft Sentinel enhances cyber resilience by providing organizations with real-time backup intelligence and automated threat response [1] Company Summary - The Veeam App for Microsoft Sentinel is designed to empower organizations in managing their backup processes effectively [1] - The application focuses on improving cyber resilience through advanced features that facilitate real-time monitoring and automated responses to threats [1] Industry Summary - The integration of backup intelligence and threat response automation is becoming increasingly critical in the cybersecurity landscape [1] - Organizations are seeking solutions that not only protect data but also enhance their ability to respond to cyber threats in real-time [1]