Rubrik, Inc.

Rubrik, Inc. reported strong FY2026 results with total revenue of $1.32B, up 48% YoY from $887M, driven primarily by subscription revenue growth of 53% to $1.26B, representing 96% of total revenue. Gross profit reached $1.05B, a 70% increase, with gross margin expanding to 80% from 70%, reflecting improved operating leverage despite higher hosting costs for SaaS adoption. Operating loss narrowed to $345.4M from $1.13B, and net loss improved to $348.8M from $1.15B, with EPS at -$1.78 versus -$7.48. Key metrics included Subscription ARR of $1.46B, up 34% YoY, Cloud ARR $1.29B up 48%, and 2,805 customers with over $100K ARR, up 25%. Operating cash flow was positive at $282.9M, free cash flow $237.8M. Balance sheet showed $380.2M cash equivalents, $1.30B short-term investments, total assets $2.77B, offset by $3.29B liabilities including $1.13B convertible notes. International revenue grew to $364.5M from $250.4M. Management highlights ongoing RSC adoption, RAC launch, and investments in R&D and sales amid cyber resilience demand, though subscription credits benefits expected to decline.

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