Overview
- Adjusted earnings reached $0.10 per share versus expectations for a $0.17 loss, on revenue of $350.2 million up 48% year over year and above forecasts.
- Subscription ARR rose 34% to $1.35 billion, with 2,638 customers generating at least $100,000 in ARR, up 27% as enterprises invest to be “AI ready,” according to the CEO.
- Non-GAAP gross margin expanded to 82.8% and Rubrik posted its first positive non-GAAP operating income at $10.1 million, with free cash flow of $76.9 million and $1.6 billion in cash.
- Full-year revenue guidance increased to $1.28–$1.282 billion and the adjusted loss-per-share outlook narrowed to $0.20–$0.16, while Q4 revenue is guided to $341–$343 million.
- Shares jumped as much as 25% following the report, and the quarter featured new offerings like Rubrik Agent Cloud and Okta Recovery plus expanded partnerships with CrowdStrike and Cognizant.