Core Insights - Zacks Premium offers tools for investors to enhance their stock market engagement and confidence, including daily updates, research reports, and stock screens [1][2] Zacks Style Scores - The Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum methodologies, helping investors identify stocks likely to outperform the market in the next 30 days [3] - Stocks are rated from A to F, with A indicating the highest potential for outperformance [4] Value Score - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales to find attractive investment opportunities [4] Growth Score - The Growth Score assesses a company's future prospects by analyzing projected and historical earnings, sales, and cash flow to identify stocks with sustainable growth potential [5] Momentum Score - The Momentum Score capitalizes on price trends, using factors like recent price changes and earnings estimate revisions to identify favorable investment timing [6] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores, providing a comprehensive indicator for investors seeking stocks with strong value, growth forecasts, and momentum [7] Zacks Rank - The Zacks Rank is a proprietary model based on earnings estimate revisions, with a strong track record of delivering an average annual return of +23.93% for 1 (Strong Buy) stocks since 1988, significantly outperforming the S&P 500 [8][9] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B to maximize returns [10] Stock to Watch: Rubrik, Inc. (RBRK) - Rubrik, Inc. is a provider of data security solutions, offering a cloud-native platform designed for data management and cyber resilience [12] - RBRK currently holds a 3 (Hold) rating on the Zacks Rank, with a VGM Score of B and a Momentum Style Score of A, having increased by 8.3% over the past four weeks [13] - Recent upward revisions in earnings estimates for fiscal 2027 have led to an increase in the Zacks Consensus Estimate from $0.15 to $0.18 per share, with an average earnings surprise of +110.2% [13] - Given its solid Zacks Rank and strong Style Scores, RBRK is recommended for investors' consideration [14]

Core Insights - Rubrik, a cloud data management and cybersecurity company, has seen a 12% decline in stock price despite reporting strong earnings, attributed to investor concerns over modest forward guidance relative to high valuation [3][4] - The company reported a 51.2% year-over-year revenue increase in Q2, with subscription revenue run rate exceeding $1.25 billion, reflecting a 36% year-on-year growth [4] - Rubrik's anticipated Q3 revenue is projected between $319 million and $321 million, with a full-year forecast of $1.227 billion to $1.237 billion [4] Company Performance - Rubrik's cloud-native SaaS platform, Rubrik Security Cloud, integrates various data protection solutions, positioning the company to benefit from increasing cyber threats and ransomware attacks [5] - The adoption of cloud and multi-cloud technologies is driving demand for Rubrik's scalable security software, which outperforms traditional solutions [6] - AI-driven security features in Rubrik's platform enhance its capability to address emerging threats [7] Regulatory Environment - Stricter global data protection laws, such as GDPR and HIPAA, are pushing businesses to invest in compliance and security solutions, reinforcing Rubrik's market position [8] Financial Fundamentals - Rubrik's valuation remains high with a price-to-sales ratio of 14x compared to 3.2 for the S&P 500, and a negative P/E ratio due to ongoing losses [9] - Revenue growth is strong, with a 48% increase over the past year, while profitability remains a challenge with negative operating and net margins [9] - The company has generated $211 million in operating cash flow, indicating a cash flow margin of 19.5%, and maintains a low debt-to-equity ratio of 7.5% [9]

Financial Data and Key Metrics Changes - Subscription ARR reached approximately $1,200 million, growing 38% year over year [6][30] - Subscription revenue was $266 million, growing 54% year over year [6][32] - Free cash flow was over $33 million, a significant improvement from negative $37 million in the same quarter last year [7][36] - Non-GAAP gross margin was 80.5%, up from 75.4% year over year [33] Business Line Data and Key Metrics Changes - Net new subscription ARR reached $89 million in the first quarter [6][30] - Subscription NRR remained strong above 120% [6][32] - Customers with $100k or more in subscription ARR reached 2,381, growing 28% year over year [6][32] Market Data and Key Metrics Changes - Revenue from the Americas grew 51% to $203 million, while revenue from outside the Americas grew 43% to $75 million [33] - Cloud ARR reached $972 million, up 60% [30] Company Strategy and Development Direction - The company focuses on cyber resilience as a top cybersecurity priority, with a unique platform that combines data and identity security [9][10] - Rubrik aims to innovate continuously across data security and AI, leveraging a portfolio approach to manage innovations [11][14] - The company is expanding its offerings in identity resilience, which is seen as a significant growth opportunity [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the cyber resilience market and the demand for their differentiated offerings [37][76] - The company raised its guidance for the year, anticipating strong subscription ARR growth [39][40] Other Important Information - The company has a strong cash position with $762 million in cash and equivalents and $323 million in debt [36] - The company is investing in R&D to drive innovation in data security and AI [37] Q&A Session Summary Question: How long is the runway for the shift from legacy to next-gen solutions? - Management indicated that the shift is expanding the total addressable market (TAM) due to the rise in identity-based attacks and the need for comprehensive cyber resilience [46][48] Question: What is happening to sales cycles and awareness of Rubrik's capabilities? - Management noted that the current market environment is pushing enterprises to modernize their infrastructure, which is benefiting Rubrik's offerings [54][56] Question: How is the demand environment characterized? - Management stated that cyber resilience is a top priority for CIOs and CSOs, and they are not seeing any change in demand [75][76] Question: What is the size of the identity resilience opportunity? - Management emphasized that identity security is a critical component of their strategy, and they are seeing great momentum in this area [63][65] Question: What are the technical advantages Rubrik brings to identity security? - Management highlighted the unique ability to combine identity and data security, enabling faster recovery times and preventing malware reintroduction [114][115]

Table of Contents As filed with the Securities and Exchange Commission on April 16, 2024. Registration No. 333-278434 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 RUBRIK, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 46-4560494 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifi ...

Table of Contents RUBRIK, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) As filed with the Securities and Exchange Commission on April 1, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Delaware 7372 46-4560494 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 3495 Deer C ...