Rubrik, Inc. Earnings Recaps
Q2 2027
Aug 29, 2026
Rubrik's shares declined 3.2% after the earnings release, reflecting investor disappointment likely driven by a cautious outlook despite reported growth in subscription ARR and margin improvements. Despite strong top-line growth and margin expansion, the negative market reaction signals investor concern, possibly rooted in a more cautious outlook embedded in management’s forward guidance or underlying deceleration in key metrics not explicitly highlighted in the prepared remarks.
Key takeaways
- Subscription ARR reached $1.66 billion, up 33% year-over-year, with net new subscription ARR of approximately $96 million in the quarter.
- Subscription revenue grew 37% year-over-year to $407 million, and subscription NRR remained strong at over 119%.
- Customers generating over $100,000 in subscription ARR increased by 23% year-over-year to 3,084.
- Subscription ARR contribution margin improved by approximately 460 basis points year-over-year.
- Free cash flow reached $66 million this quarter, showing solid cash generation amid growth.
Q4 2026
Mar 13, 2026
Rubrik, Inc. delivered exceptional results in Q4 and FY 2026, significantly exceeding expectations with record subscription ARR growth and a marked increase in free cash flow, positioning the company for robust long-term profitability.
Key takeaways
- Subscription ARR surged to $1.46 billion, marking a 34% year-over-year increase.
- Q4 subscription revenue reached $365 million, up 50% year-over-year, while net new subscription ARR grew to $115 million.
- Free cash flow for the fiscal year was $238 million, over 10 times that of the previous year, with $70 million generated in Q4 alone.
- Customer expansion is evident, with the number of clients contributing over $100,000 in subscription ARR rising 25% to 2,805.
- Rubrik reported an impressive subscription NRR above 120%, with a competitive win rate exceeding 90% in Q4, highlighting strong market positioning.