Overview

• Subscription annual recurring revenue rose 36% year over year, with cloud subscriptions up 57%, surpassing expectations.
• Net new annual recurring revenue was about $71 million, ahead of consensus.
• Rubrik exceeded FactSet estimates on revenue, subscription ARR, operating income, and free cash flow in fiscal 2Q26.
• Management raised full‑year fiscal 2026 guidance, as analysts also pointed to product momentum from Agent Rewind and Identity Resilience.
• Cantor Fitzgerald reaffirmed an Overweight rating with a $115 price target, while Mizuho reiterated Neutral at $97, citing a roughly 200% post‑IPO gain and 51% year‑to‑date rise.