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Rubrik, Inc. Class A (RBRK)
:RBRK
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Rubrik, Inc. Class A
(NYSE:RBRK)
Rating:49Neutral
Price Target:
$88.00
▲(3.32% Upside)
Positive Factors
Acquisition
RBRK announced the acquisition of Predibase, a platform that enables developers to fine-tune and securely deploy and operationalize open-source AI models at scale.
Revenue Growth
RBRK's remaining performance obligations grew by 22.8% year-over-year, indicating strong future revenue expectations.
Strategic Vision
The Predibase acquisition fits squarely within RBRK’s strategic vision to be the 'security backbone for GenAI adoption.'
Negative Factors
Channel Partner Reliance
The reliance on a small number of channel partners decreased slightly, but still accounts for a substantial portion of revenue and accounts receivable.
Market Competition
With little to no competition in a market that is inflecting, Rubrik can sustain near-30% ARR growth going forward.
Rubrik, Inc. Class A (RBRK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.48B
Dividend YieldN/A
Average Volume (3M)2.81M
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth43.89%
EPS Growth49.74%
CountryUS
Employees3,200
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.15
Shares Outstanding123,563,324
10 Day Avg. Volume2,077,553
30 Day Avg. Volume2,811,351
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue13.42
Enterprise Value/Gross Profit17.55
Enterprise Value/Ebitda-29.41
Forecast
1Y Price Target
$113.47Price Target Upside33.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering18
Rubrik, Inc. Class A Business Overview & Revenue Model
Company DescriptionRubrik, Inc. provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors. Rubrik, Inc. was formerly known as Scaledata, Inc. and changed its name to Rubrik, Inc. in October 2014. The company was incorporated in 2013 and is based in Palo Alto, California.
How the Company Makes MoneyRubrik, Inc. generates revenue primarily through the sale of its software solutions and services, which are offered under subscription and licensing models. The company capitalizes on the growing need for efficient data management by providing cloud-based and on-premises solutions that help organizations protect and optimize their data. Key revenue streams include software subscriptions, professional services, and maintenance and support contracts. Additionally, Rubrik's strategic partnerships with major cloud service providers and technology vendors enhance its market reach and contribute to its revenue growth.
Rubrik, Inc. Class A Earnings Call Summary
Earnings Call Date:Jun 05, 2025
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 09, 2025
Earnings Call Sentiment Positive
Rubrik demonstrated strong financial performance with significant year-over-year growth in subscription revenue and ARR, robust customer growth, and improvements in profitability and cash flow. The company is expanding its innovation efforts and cloud offerings, positioning itself as a leader in cyber resilience. However, there are ongoing challenges with competition and anticipated earnings losses, which highlight areas for further strategic focus.Q1-2026 Updates
Positive Updates
Strong Financial Performance
Rubrik's subscription ARR reached approximately $1.2 billion, growing 38% year-over-year, with net new subscription ARR at $89 million in the first quarter. Subscription revenue was $266 million, growing 54% year-over-year.
Customer Growth and Retention
Customers with $100,000 or more in subscription ARR reached 2,381, growing 28% year-over-year, and subscription NRR remained strong above 120%.
Profitability and Cash Flow
Material improvements in subscription ARR contribution margin, up over 1,800 basis points year-over-year, and over $33 million in free cash flow reported.
Innovation and Market Expansion
Continued innovation across data security and AI vectors with new products such as Rubrik Annapurna and identity resilience solutions.
Expansion of Cloud Offerings
Introduced code-to-cloud cyber resilience and expanded capabilities for Google Cloud and Oracle Cloud Infrastructure, strengthening coverage of all major hyperscalers.
Negative Updates
Non-GAAP Earnings Loss
Projected non-GAAP earnings per share for Q2 and full year fiscal 2026 are negative, indicating expected continuing losses.
Market Challenges and Competition
Ongoing competition with legacy and new-gen vendors in the cybersecurity space, emphasizing the need to continuously innovate and expand.
Company Guidance
During the Rubrik First Quarter Fiscal Year 2026 results conference call, the company presented strong financial performance and raised its guidance for the year. Key metrics highlighted include a subscription annual recurring revenue (ARR) of approximately $1.2 billion, marking a 38% year-over-year growth, with net new subscription ARR reaching $89 million. Subscription revenue was reported at $266 million, a 54% increase year-over-year, and the subscription net retention rate (NRR) remained robust at over 120%. The number of customers with $100,000 or more in subscription ARR increased to 2,381, reflecting a 28% year-over-year growth. Rubrik also achieved significant improvements in profitability, with the subscription ARR contribution margin up by over 1,800 basis points year-over-year, and generated over $33 million in free cash flow for the quarter. The company emphasized its strategic focus on cyber resilience, innovative product offerings, and the integration of data and identity security as key drivers of its success.Rubrik, Inc. Class A Financial Statement Overview
Summary
Rubrik, Inc. shows strong revenue growth but struggles with profitability and financial stability. High leverage and negative equity are critical concerns that overshadow positive cash flow trends.Income Statement
Rubrik, Inc. has experienced significant revenue growth, with total revenue increasing from $627.9M in Jan 2024 to $977.7M in TTM (Trailing-Twelve-Months). However, profitability remains a challenge, as evidenced by negative net income and EBIT margins. The gross profit margin stands at a reasonable level, but high operating expenses lead to negative EBIT and EBITDA margins, indicating operational inefficiencies.30
Negative
Balance Sheet
The balance sheet reveals a concerning negative stockholders' equity, indicating that liabilities exceed assets. The debt-to-equity ratio cannot be calculated due to negative equity, but the company carries a significant amount of debt. This high leverage poses financial risks. Moreover, the equity ratio is negative, further emphasizing financial instability.20
Very Negative
Cash Flow
Rubrik, Inc. has shown improvement in cash flow generation, with a positive free cash flow in the TTM (Trailing-Twelve-Months) period. Operating cash flow to net income and free cash flow to net income ratios highlight that the company is generating cash despite reporting net losses. However, the cash flow position remains sensitive, given the negative net income.40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 977.71M | 886.54M | 627.89M | 599.82M | 506.15M | 387.75M |
| Gross Profit | 747.46M | 620.80M | 389.69M | 320.25M | 269.87M | 217.20M |
| EBITDA | -446.00M | -1.08B | -196.34M | -153.79M | -144.90M | -125.51M |
| Net Income | -524.83M | -1.15B | -354.16M | -277.75M | -254.40M | -213.09M |
Balance Sheet | ||||||
| Total Assets | 1.47B | 1.42B | 873.61M | 769.18M | 518.98M | 509.92M |
| Cash, Cash Equivalents and Short-Term Investments | 762.06M | 705.14M | 279.25M | 295.91M | 138.81M | 217.31M |
| Total Debt | 322.82M | 332.43M | 309.29M | 216.04M | 33.21M | 5.97M |
| Total Liabilities | 2.03B | 1.98B | 1.58B | 1.14B | 623.61M | 430.04M |
| Stockholders Equity | -556.53M | -553.73M | -704.54M | -372.62M | -104.63M | 79.87M |
Cash Flow | ||||||
| Free Cash Flow | 98.37M | 31.34M | -16.85M | -15.01M | -103.23M | -74.62M |
| Operating Cash Flow | 119.26M | 48.23M | -4.52M | 19.29M | -82.78M | -58.74M |
| Investing Cash Flow | -390.01M | -383.44M | -93.62M | -125.19M | 8.42M | -1.60M |
| Financing Cash Flow | 51.18M | 398.02M | 95.95M | 171.82M | 22.87M | 137.51M |
Rubrik, Inc. Class A Technical Analysis
Positive
85.17
Price Trends
87.73
Negative
83.06
Positive
73.55
Positive
Market Momentum
-0.45
Negative
50.53
Neutral
63.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RBRK, the sentiment is Positive. The current price of 85.17 is below the 20-day moving average (MA) of 87.67, below the 50-day MA of 87.73, and above the 200-day MA of 73.55, indicating a neutral trend. The MACD of -0.45 indicates Negative momentum. The RSI at 50.53 is Neutral, neither overbought nor oversold. The STOCH value of 63.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RBRK.
Rubrik, Inc. Class A Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.51B | 24.17 | 152.34% | ― | 6.29% | 62.03% | |
72 Outperform | $6.43B | ― | -25.73% | ― | 14.29% | -14.42% | |
72 Outperform | $41.68B | ― | -2.68% | ― | 25.46% | 49.20% | |
71 Outperform | $11.03B | 27.28 | 9.21% | ― | 3.98% | -31.18% | |
69 Neutral | $16.03B | 142.15 | 2.61% | ― | 12.68% | ― | |
56 Neutral | $6.56B | -1.65 | 0.45% | 6.25% | 14.92% | 10.98% | |
49 Neutral | $16.48B | ― | 218.28% | ― | 43.89% | 49.74% |
* General Sector Average
Performance Comparison
RBRK
Rubrik, Inc. Class A
87.53
53.32
155.86%
AKAM
Akamai
78.27
-21.81
-21.79%
VRNS
Varonis Systems
58.49
1.88
3.32%
BOX
Box
32.46
0.52
1.63%
OKTA
Okta
93.03
-3.51
-3.64%
ZS
Zscaler
273.07
79.10
40.78%
Rubrik, Inc. Class A Corporate Events
M&A TransactionsShareholder Meetings
Rubrik, Inc. Acquires Predibase, Inc. in Strategic Move
Neutral
Jun 27, 2025
On June 24, 2025, Rubrik, Inc. announced its agreement to acquire Predibase, Inc., which will become a wholly owned subsidiary. The acquisition allows Predibase securityholders to receive compensation in cash or Rubrik’s Class A common stock, with a significant portion opting for stock. The transaction is structured to comply with securities regulations, and shares will be issued to accredited investors. On June 25, 2025, Rubrik held its Annual Meeting of Stockholders, where stockholders elected Class I directors and ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026.
Private Placements and FinancingBusiness Operations and Strategy
Rubrik, Inc. Announces $1 Billion Convertible Notes Offering
Neutral
Jun 13, 2025
On June 10, 2025, Rubrik, Inc. announced its intention to offer $1.0 billion in Convertible Senior Notes due 2030, with the possibility of an additional $150 million, in a private placement to institutional buyers. The proceeds are intended for strategic flexibility, including debt refinancing, capped call transactions to offset share dilution, and general corporate purposes such as acquisitions or strategic investments.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.