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]

Financial Data and Key Metrics Changes - Subscription ARR reached $1.35 billion, growing 34% year over year [4][21] - Net new subscription ARR reached a record $94 million [4][21] - Subscription revenue was $336 million, growing 52% year over year [4][23] - Subscription NRR remained strong, above 120% [4][22] - Free cash flow was $77 million, compared to $16 million in the same quarter last year [5][25] Business Line Data and Key Metrics Changes - Data protection, identity resilience, and AI operations are the three main business lines [8] - Identity resilience platform achieved approximately $20 million in subscription ARR, doubling the number of identity customers in Q3 [12][49] - Cloud ARR reached $1.17 billion, up 53% [21] - The number of customers with $100,000 or more in subscription ARR grew 27% to 2,638 [22] Market Data and Key Metrics Changes - Revenue from the Americas grew 51% to $256 million, while revenue from outside the Americas grew 41% to $94 million [23] - The company continues to see strong adoption of its Rubrik Security Cloud, contributing to overall revenue growth [21] Company Strategy and Development Direction - The company aims to lead in the security and AI operations space, focusing on cyber resilience and AI transformation [5][6] - Rubrik's strategy includes expanding its product offerings to address the evolving cyber landscape and the rise of AI agents [7][16] - The company plans to invest in R&D and go-to-market strategies to enhance its offerings in data, security, and AI [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robust cyber resilience market and strong demand for their offerings [20][26] - The company raised its outlook for Q4 and the full fiscal year 2026, anticipating continued strong performance [20][27] - Management highlighted the importance of understanding risks associated with cyber breaches and the need for effective recovery solutions [6][49] Other Important Information - The company has launched Rubrik Agent Cloud, a new product suite aimed at managing AI agents safely and confidently [16][18] - The integration with Microsoft Copilot Studio and Amazon Bedrock is expected to enhance the capabilities of Rubrik Agent Cloud [18][44] Q&A Session Summary Question: How additive can identity be to an average data protection deal? - Identity is completely additive to the deal, creating new budget and targeting the CISO organization [30] 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 [34] Question: How is the platform expansion influencing the sales strategy? - The strategy remains focused on providing a comprehensive platform that enhances customer value through multiple product adoption [36] Question: What is the outlook for net new ARR going into 2027? - Net new ARR is expected to show some quarterly movements, but the focus should be on the annual number [51] Question: Is Rubrik's platform playing a role in lowering insurance premiums for customers? - Yes, having both identity resilience and cyber recovery is attractive for insurance companies, leading to potential recommendations [53] Question: What is the go-to-market strategy for the agent market? - The focus is on operationalizing agents and providing governance controls, with expectations for a gradual market emergence [56]