Core Insights - Commvault has expanded its collaboration with Google Cloud to enhance data protection, security, and resilience capabilities for enterprises [1][5]. Group 1: New Capabilities - Commvault introduced new features including immutable protection, rapid recovery of data and cloud applications, and archiving for compliance support, all integrated within a single platform [3][7]. - The new capabilities for Google Cloud users include Air Gap Protect, Cloud Rewind, and enhanced data protection for Google Workspace [4][6]. Group 2: Industry Context - As enterprises migrate workloads to the cloud, the sophistication of ransomware and insider threats is increasing, with 80% of companies reporting more frequent cloud attacks [2]. - The average downtime following a ransomware attack is reported to be 24 days, leading to significant operational gaps for affected organizations [2]. Group 3: Strategic Importance - The expansion of Commvault's collaboration with Google Cloud is seen as a critical advancement for enterprises seeking cyber resilience in cloud environments, particularly in protecting backup infrastructure from ransomware attacks [5][7]. - Commvault's Air Gap Protect enables immutable backups stored in isolated locations, enhancing defenses against cyber threats [7].

Core Insights - Constellation has received approval from the NRC for a License Amendment Request related to the Digital Modernization Project at the Limerick Clean Energy Center [1] Company Summary - The NRC's approval is a significant step for Constellation in advancing its digital modernization efforts at the Limerick Clean Energy Center [1]

Core Insights - Commvault has announced its partnership with AWS to launch the Commvault Cloud on the AWS European Sovereign Cloud, aimed at providing cyber resilience for regulated industries in Europe [1][5]. Group 1: Commvault Cloud and AWS European Sovereign Cloud - The AWS European Sovereign Cloud will be an independently operated cloud infrastructure located entirely within the EU, designed to meet the needs of European governments and enterprises [3]. - Commvault's platform will offer a secure, cost-optimized resilience solution tailored for AWS customers, featuring AI-enabled capabilities for data protection and management [4][5]. Group 2: Features and Capabilities - The Commvault Cloud will include extensive cyber resilience features such as air-gapped backups, AI-enhanced threat detection, and cleanroom recovery orchestration, which are essential for compliance with regulations like GDPR, DORA, and NIS2 [4]. - The platform aims to simplify onboarding and resource protection across accounts within the Sovereign Cloud, enhancing operational recovery and data resilience [4]. Group 3: Market Context and Recognition - Commvault is responding to increasing pressure on European organizations to meet sovereignty requirements while addressing rising cyber threats [5]. - The company has achieved significant milestones with AWS, including the AWS Resilience Competency in the Recovery category and being named the 2025 AWS Global Storage Partner of the Year, highlighting its leadership in cloud-native data protection [5]. Group 4: Availability and Pricing - The Commvault Cloud is expected to be available on the AWS European Sovereign Cloud in the first half of 2026, with pricing to be finalized before general availability [6].

Core Insights - A new survey commissioned by Commvault reveals a paradox in the security habits of New Yorkers, highlighting both increased awareness of data protection and significant gaps in personal security practices [1][2]. Group 1: Consumer Expectations - New Yorkers are increasingly focused on how organizations manage their data, with many willing to reconsider or abandon brands that fail to meet their expectations [2]. - Over 85% of New Yorkers indicated they would (41.8%) or might (43.7%) stop using a company if it experienced a data breach, emphasizing the critical nature of data security for maintaining consumer trust [6]. - More than a third (38%) of respondents have already ceased using a service due to a lack of trust in its data protection capabilities [6]. Group 2: Personal Security Practices - The survey found that 48% of New Yorkers have been victims of a cyberattack, prompting increased vigilance regarding their data security [4]. - While 44% of respondents use unique passwords for all accounts, 56% still reuse passwords across multiple accounts, creating vulnerabilities [4]. - Slightly more than half (53%) of New Yorkers attempt to follow best practices like using two-factor authentication when on public WiFi, but 15% do not use any security measures at all [7]. Group 3: Business Implications - Companies must prioritize customer data protection to maintain confidence and loyalty, especially during critical periods like the holiday season [5]. - The findings suggest that businesses that fail to enhance their cyber resilience risk losing revenue and brand loyalty [2][5]. - As consumer expectations for security and resilience rise, businesses must adapt to retain trust in an increasingly competitive landscape [6][8].

Hi, I'm Vic Ayer, CIO, marketing services. It's time for security leaders to take a moment, step back and ask themselves what actions are needed. As the AI era intensifies threats, enterprises must understand the dangers across software and hardware.They must recognize that business operations have been upended by AI, meaning new measures are required to protect endpoints carrying key data. North American security leaders agree with 5G research showing 61% either have endpoint security or are in the process ...

Core Insights - Rubrik is a cybersecurity company specializing in Cyber Resilience, a niche that may not be widely recognized [1] Company Overview - Rubrik is listed on the NYSE under the ticker RBRK [1] - The company operates within the cybersecurity sector, focusing on enhancing resilience against cyber threats [1] Analyst Background - The author has a background in engineering and a strong interest in technology stocks, which influences their investment perspective [1]

Rubrik (NYSE:RBRK) FY Conference Summary Company Overview - **Company**: Rubrik - **Industry**: Cybersecurity and Data Management - **Market Opportunity**: Rubrik aims to deliver cyber resilience and recovery solutions to businesses and governments, addressing the increasing threat of cyber disasters [11][12][13] Financial Highlights - **Net New ERR**: Achieved a record of $94 million, contributing to a total ERR of $1.35 billion, representing a growth of 34% [15] - **Profitability**: Subscription ERR contribution margin improved to over 10% year-over-year [15] - **Free Cash Flow**: Recorded over $75 million in free cash flow for the quarter [15] - **Net Retention Rate**: Maintained a strong net retention rate of over 120% [15] Industry Dynamics - **Legacy Displacement**: Rubrik is experiencing accelerated bookings from displacing legacy players like Dell, Veritas, and IBM, indicating a significant market opportunity [16][17][19] - **Market Size**: The cyber resilience market is estimated to be around $50 billion, with Rubrik currently capturing only a small portion of it [17][18] - **Customer Base**: Any organization with significant data or applications is a potential customer for Rubrik, highlighting the vast market potential [18] Product Developments - **Rubrik Security Cloud**: Comprises nearly 90% of the total ERR, with a shift from on-premise to cloud solutions accelerating [20][21] - **Identity Protection**: The identity protection segment has grown to a $20 million ERR business within three quarters, addressing the increasing threat of identity-based attacks [23][25][26] - **Agent Cloud**: A new platform in beta aimed at securing and managing agentic work within enterprises, focusing on governance and operational oversight [34][36][38] Strategic Insights - **Cloud Transformation**: The transition from on-premise to cloud solutions is ongoing, with expectations of continued decline in on-prem ERR for several quarters [21][22] - **Customer Economics**: Transitioning customers to cloud solutions is designed to be frictionless, with no significant price increases for comparable feature sets [29][31] - **AI Integration**: The acquisition of Predibase aims to enhance Rubrik's capabilities in AI, focusing on operationalizing AI for cybersecurity [34][36] Market Outlook - **Demand Environment**: There is no observed change in demand for Rubrik's products, with a strong focus on educating customers about the importance of cyber resilience [47][48] - **Revenue Dynamics**: The company anticipates that reported revenue growth will lag behind ARR growth due to accounting nuances related to material rights [52][53] Future Milestones - **Focus Areas**: Rubrik will continue to prioritize top-line growth, innovation, and profitability as key metrics for success [55]

Core Insights - Rubrik's stock price is expected to reach a new all-time high by mid-2026 due to its critical role in the AI ecosystem [2] - The company's fiscal Q3 results showed a significant increase in revenue and subscriptions, indicating strong demand and growth [3][4] Financial Performance - Rubrik reported net revenue of $350.17 million for fiscal Q3, a nearly 50% year-over-year increase, significantly surpassing market expectations by almost 1000 basis points [3] - Subscription revenue increased by 52%, with annual recurring revenue (ARR) from clients generating over $100K up by 27% [3] - The company achieved adjusted earnings of 10 cents, exceeding expectations, with cash flow up 200% and free cash flow up 400% [4] Guidance and Outlook - Rubrik provided a strong Q4 guidance, expecting continued business momentum and raised its full-year revenue forecast to at least $1.28 billion, which is 400 basis points better than expected [4] - Analysts indicate a positive outlook for Rubrik, with a Moderate Buy rating and an upward trend in consensus price targets, suggesting a minimum target upside of 25% [5] Market Trends - There is a notable accumulation of Rubrik's stock by analysts and institutions in 2025, despite some price target reductions [5] - The overall trend remains positive, with several price target revisions indicating potential upside closer to $130, or about 35% [5]

Group 1: AI and Labor Market Trends - The adoption of AI is creating new job opportunities, particularly in AI-related skills such as machine learning, which increased by 16%, and quality assurance, which rose by 19% [5][6] - There is a strong demand for creative skills, with graphic design being the top AI-related skill and video editing also ranking highly [6][15] - 85% of businesses report that AI literacy is becoming increasingly important, up from about 50% in August, indicating a growing recognition of the value of AI in business processes [9][10] Group 2: Cybersecurity and Company Performance - Rubric reported a record quarter, exceeding all guided metrics and raising its outlook for the year, driven by demand for cyber resilience and AI transformation [17][19] - The company's subscription annual recurring revenue (ARR) grew by 34% year-over-year to $1.35 billion, with a free cash flow of $77 million, representing a 22% margin [19] - Rubric is focusing on ensuring the safety of AI agents through its new platform, which allows for monitoring and governance of AI actions [20][21] Group 3: Consumer Behavior in the Food Industry - Consumers are increasingly opting for smaller pizzas and fewer toppings, reflecting a trend of cautious spending as they face economic pressures [31][32] - The cost of ingredients has significantly increased, with prices for items like pepperoni rising from $30 for 10 pounds to $130-$140, impacting pricing strategies for pizza businesses [36][38] - The overall inflation in food prices has led to a shift in consumer behavior, with many opting for simpler, more affordable options [34][39]

Financial Data and Key Metrics Changes - Subscription ARR reached $1.35 billion, growing 34% year over year [5][24] - Net new subscription ARR reached a record $94 million [5][24] - Subscription revenue was $336 million, growing 52% year over year [5][26] - Total revenue was $350 million, up 48% [26] - Free cash flow was $77 million, compared to $16 million in the same quarter last year [29] Business Line Data and Key Metrics Changes - Subscription NRR remained above 120% [5][25] - Customers with $100K or more in subscription ARR reached 2,638, growing 27% year over year [6][25] - The identity resilience platform achieved about $20 million in subscription ARR, with significant growth in the number of identity customers [15][81] Market Data and Key Metrics Changes - Revenue from the Americas grew 51% to $256 million [26] - Revenue from outside the Americas grew 41% to $94 million [26] - Cloud ARR reached $1.17 billion, up 53% [24] Company Strategy and Development Direction - The company aims to lead in the security and AI operations space, focusing on cyber resilience and AI transformation [7][9] - Rubrik's strategy includes expanding its product offerings in data protection, identity resilience, and AI operations [10][18] - The company is investing in R&D and go-to-market strategies to enhance its offerings and market penetration [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for cyber resilience solutions and the growth potential in the AI sector [23][30] - The company anticipates continued strong performance and is raising its outlook for the fourth quarter and full year [23][31] Other Important Information - The company has launched Rubrik Agent Cloud, a new product suite for managing AI agents [18][21] - The integration with Microsoft Copilot Studio and Amazon Bedrock is expected to enhance the capabilities of Rubrik Agent Cloud [21][68] Q&A Session Summary Question: How additive can identity be to an average data protection deal? - Identity is completely additive to the deal, serving as a net new buyer for Rubrik, particularly in the CISO organization [37][38] Question: What is driving the acceleration in legacy replacement bookings? - The acceleration is driven by the need for modernization ahead of AI and the recognition of the risks posed by cyber attacks [46] Question: How is the platform expansion influencing sales strategy? - The strategy remains focused on being a true platform company, making it easier for customers to adopt and consume Rubrik products [53][54] Question: How is Rubrik positioned to capture the AI agent opportunity? - Rubrik is well-positioned due to its focus on data, identity, and business applications, providing a complete agentic operations platform [59][60] Question: What is the monetization strategy for Rubrik Agent Cloud? - Rubrik Agent Cloud is a separate product suite, and customer feedback has been strong during its beta phase [70]