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Rubrik’s Q1 FY26 excelled, beating guidance with 38% ARR growth to $1.18B and 49% revenue growth, highlighting strong cyber resilience market momentum.
June 5, 2025 – Rubrik, Inc. (NYSE: RBRK), the cyber resilience company, today delivered a powerful start to its fiscal year 2026, announcing first-quarter financial results that decisively surpassed all guided metrics and analyst expectations. The report, covering the quarter ended April 30, 2025, showcased robust growth in subscription annual recurring revenue (ARR) and overall revenue, a significant improvement in profitability, and a notable achievement of positive free cash flow, signaling strong momentum in its mission to secure the world’s data.
Rubrik’s performance highlights the increasing critical importance of cyber resilience in an era of escalating cyber threats. As organizations grapple with ransomware and other sophisticated attacks, Rubrik’s Zero Trust Data Security™ platform is resonating with customers, driving its transition to a predominantly subscription-based model. This quarter’s results underscore the success of this strategy and the company’s focused innovation and execution in a burgeoning market.
“Our outstanding first-quarter results not only surpassed all guided metrics but also underscore the power of our focused innovation and execution,” said Bipul Sinha, Rubrik’s Chief Executive Officer, Chairman, and Co-Founder. “We are winning the cyber resilience market, and I believe that our opportunity is bigger than ever.”
Rubrik reported total revenue for the first quarter of $278.5 million, a substantial 49% increase year-over-year from $187.3 million in Q1 FY2025. This figure comfortably beat the company’s own guidance of $259 million to $261 million and also topped analyst consensus estimates, which hovered around $260.4 million.
The outperformance extended to profitability. Non-GAAP net loss per share was $(0.15), a significant improvement from $(1.58) in the year-ago quarter. This result was considerably better than Rubrik’s guided range of $(0.33) to $(0.31) per share and also beat the analyst consensus estimate which was generally in the range of $(0.32) to $(0.33).
Subscription Annual Recurring Revenue (ARR), a key metric for SaaS-centric companies, grew 38% year-over-year to $1.18 billion as of April 30, 2025. This demonstrates the continued strong adoption and expansion of Rubrik’s subscription offerings.
Kiran Choudary, Rubrik’s Chief Financial Officer, added, “Q1 was a strong start to our second fiscal year as a public company, with another quarter of solid top-line growth at scale and continued improvement towards profitability.”
| Metric | Q1 FY2026 Actual | Rubrik’s Guidance (Q1’26) | Analyst Consensus (Q1’26) | Q1 FY2025 Actual | YoY Change (Actual) |
|---|---|---|---|---|---|
| Total Revenue | $278.5 million | $259M – $261M | ~$260.4 million | $187.3 million | +49% |
| Subscription Revenue | $265.7 million | N/A | N/A | $172.2 million | +54% |
| Subscription ARR | $1.18 billion | N/A (Full Year Guidance Provided) | N/A | $0.856 billion (approx) | +38% |
| Non-GAAP Net Loss Per Share | $(0.15) | $(0.33) – $(0.31) | ~$(0.32) – $(0.33) | $(1.58) | +90.5% improvement |
| GAAP Net Loss Per Share | $(0.53) | N/A | N/A | $(11.48) | +95.4% improvement |
| Non-GAAP Gross Margin | 80.5% | N/A | N/A | 75.4% | +510 bps |
| Subscription ARR Contribution Margin | 8.0% | 4.0% – 5.0% | N/A | (10.6)% | +1860 bps |
| Free Cash Flow | $33.3 million | N/A (Full Year Guidance Provided) | N/A | $(37.1) million | Positive Swing |
(Subscription ARR for Q1 FY25 estimated from 38% YoY growth to $1.18B. Analyst estimates based on pre-earnings reports.)
Rubrik’s first-quarter results clearly demonstrate the success of its strategic shift towards a subscription-based model, which now forms the bedrock of its revenue.
Subscription Revenue and ARR Surge: Subscription revenue was the primary growth engine, reaching $265.7 million, a 54% increase compared to $172.2 million in the first quarter of fiscal 2025. This now accounts for approximately 95% of Rubrik’s total revenue, up significantly from previous years, showcasing a successful migration away from legacy maintenance and other revenues. The Subscription ARR of $1.18 billion (up 38% YoY) further solidifies this trend. Rubrik’s focus on its Rubrik Security Cloud (RSC) platform and related SaaS solutions is clearly paying dividends, as customers increasingly opt for the flexibility, scalability, and continuous innovation offered by cloud-based subscription models. The company’s earnings presentation (though not detailed in the press release text itself) reportedly highlighted even stronger Cloud ARR growth, underscoring the traction of its cloud-native offerings.
Expanding High-Value Customer Base: Rubrik continues to attract and grow its relationships with larger enterprises. The company reported 2,381 customers with $100,000 or more in Subscription ARR, an increase of 28% year-over-year. This metric is crucial as it indicates Rubrik’s ability to land bigger deals and expand within existing enterprise accounts, which typically offer greater lifetime value and stickiness.
Marked Improvement in Profitability: One of the standout features of Rubrik’s Q1 report was the significant improvement in its profitability metrics:
Achieving Positive Free Cash Flow: A major milestone for any growth-oriented tech company is the transition to positive free cash flow. Rubrik achieved this in Q1 FY2026, reporting cash flow from operations of $39.7 million (compared to $(31.4) million in Q1 FY2025) and free cash flow of $33.3 million (compared to $(37.1) million in Q1 FY2025). This turnaround demonstrates improved operational efficiency and a more sustainable financial model as the company scales. At the end of the quarter, Rubrik had cash, cash equivalents, and short-term investments of $762.1 million.
Rubrik’s strong quarter was also supported by a series of strategic alliances and business developments aimed at expanding its market reach and enhancing its platform capabilities:
These collaborations and strategic hires underscore Rubrik’s commitment to building a comprehensive ecosystem and providing cutting-edge solutions to address the evolving cyber threat landscape.
Buoyed by its strong Q1 performance, Rubrik provided an optimistic outlook for both the second quarter and the full fiscal year 2026.
Second Quarter Fiscal 2026 Outlook:
Full Fiscal Year 2026 Outlook:
This guidance suggests management’s confidence in maintaining strong growth momentum while continuing to improve operational leverage and profitability throughout the fiscal year.
Rubrik’s results arrive at a time when data security has never been more critical. The relentless wave of cyberattacks, particularly ransomware, has elevated cyber resilience from an IT concern to a C-suite and boardroom imperative. Organizations are increasingly recognizing that traditional backup and recovery solutions are insufficient in the face of modern threats.
Rubrik’s Zero Trust Data Security™ approach, which assumes no user or system is inherently trustworthy, is designed to help organizations not only recover from attacks but also to proactively defend their data and ensure business continuity. The company’s focus on securing data across enterprise, cloud, and SaaS environments, powered by machine learning, positions it well to capitalize on this growing market demand.
Rubrik’s first-quarter fiscal 2026 earnings report is a clear testament to its strengthening market position and the successful execution of its SaaS-centric strategy. By exceeding its own guidance and analyst expectations across key metrics—from robust ARR and revenue growth to significantly improved profitability and positive free cash flow—Rubrik has demonstrated considerable momentum.
The company’s ability to attract large enterprise customers, forge strategic partnerships with major cloud providers and global systems integrators, and innovate in a rapidly evolving threat landscape bodes well for its future. As CEO Bipul Sinha stated, Rubrik appears to be “winning the cyber resilience market.” While still in its early days as a public company, this strong start to the fiscal year sets a positive tone and will likely be welcomed by investors looking for growth and a clear path to sustained profitability in the critical cybersecurity sector. The journey towards securing the world’s data is complex, but Rubrik’s Q1 performance indicates it is well-equipped for the challenge.
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Rubrik’s Q1 FY26 excelled, beating guidance with 38% ARR growth to $1.18B and 49% revenue growth, highlighting strong cyber resilience market momentum.
June 5, 2025 – Rubrik, Inc. (NYSE: RBRK), the cyber resilience company, today delivered a powerful start to its fiscal year 2026, announcing first-quarter financial results that decisively surpassed all guided metrics and analyst expectations. The report, covering the quarter ended April 30, 2025, showcased robust growth in subscription annual recurring revenue (ARR) and overall revenue, a significant improvement in profitability, and a notable achievement of positive free cash flow, signaling strong momentum in its mission to secure the world’s data.
Rubrik’s performance highlights the increasing critical importance of cyber resilience in an era of escalating cyber threats. As organizations grapple with ransomware and other sophisticated attacks, Rubrik’s Zero Trust Data Security™ platform is resonating with customers, driving its transition to a predominantly subscription-based model. This quarter’s results underscore the success of this strategy and the company’s focused innovation and execution in a burgeoning market.
“Our outstanding first-quarter results not only surpassed all guided metrics but also underscore the power of our focused innovation and execution,” said Bipul Sinha, Rubrik’s Chief Executive Officer, Chairman, and Co-Founder. “We are winning the cyber resilience market, and I believe that our opportunity is bigger than ever.”
Rubrik reported total revenue for the first quarter of $278.5 million, a substantial 49% increase year-over-year from $187.3 million in Q1 FY2025. This figure comfortably beat the company’s own guidance of $259 million to $261 million and also topped analyst consensus estimates, which hovered around $260.4 million.
The outperformance extended to profitability. Non-GAAP net loss per share was $(0.15), a significant improvement from $(1.58) in the year-ago quarter. This result was considerably better than Rubrik’s guided range of $(0.33) to $(0.31) per share and also beat the analyst consensus estimate which was generally in the range of $(0.32) to $(0.33).
Subscription Annual Recurring Revenue (ARR), a key metric for SaaS-centric companies, grew 38% year-over-year to $1.18 billion as of April 30, 2025. This demonstrates the continued strong adoption and expansion of Rubrik’s subscription offerings.
Kiran Choudary, Rubrik’s Chief Financial Officer, added, “Q1 was a strong start to our second fiscal year as a public company, with another quarter of solid top-line growth at scale and continued improvement towards profitability.”
| Metric | Q1 FY2026 Actual | Rubrik’s Guidance (Q1’26) | Analyst Consensus (Q1’26) | Q1 FY2025 Actual | YoY Change (Actual) |
|---|---|---|---|---|---|
| Total Revenue | $278.5 million | $259M – $261M | ~$260.4 million | $187.3 million | +49% |
| Subscription Revenue | $265.7 million | N/A | N/A | $172.2 million | +54% |
| Subscription ARR | $1.18 billion | N/A (Full Year Guidance Provided) | N/A | $0.856 billion (approx) | +38% |
| Non-GAAP Net Loss Per Share | $(0.15) | $(0.33) – $(0.31) | ~$(0.32) – $(0.33) | $(1.58) | +90.5% improvement |
| GAAP Net Loss Per Share | $(0.53) | N/A | N/A | $(11.48) | +95.4% improvement |
| Non-GAAP Gross Margin | 80.5% | N/A | N/A | 75.4% | +510 bps |
| Subscription ARR Contribution Margin | 8.0% | 4.0% – 5.0% | N/A | (10.6)% | +1860 bps |
| Free Cash Flow | $33.3 million | N/A (Full Year Guidance Provided) | N/A | $(37.1) million | Positive Swing |
(Subscription ARR for Q1 FY25 estimated from 38% YoY growth to $1.18B. Analyst estimates based on pre-earnings reports.)
Rubrik’s first-quarter results clearly demonstrate the success of its strategic shift towards a subscription-based model, which now forms the bedrock of its revenue.
Subscription Revenue and ARR Surge: Subscription revenue was the primary growth engine, reaching $265.7 million, a 54% increase compared to $172.2 million in the first quarter of fiscal 2025. This now accounts for approximately 95% of Rubrik’s total revenue, up significantly from previous years, showcasing a successful migration away from legacy maintenance and other revenues. The Subscription ARR of $1.18 billion (up 38% YoY) further solidifies this trend. Rubrik’s focus on its Rubrik Security Cloud (RSC) platform and related SaaS solutions is clearly paying dividends, as customers increasingly opt for the flexibility, scalability, and continuous innovation offered by cloud-based subscription models. The company’s earnings presentation (though not detailed in the press release text itself) reportedly highlighted even stronger Cloud ARR growth, underscoring the traction of its cloud-native offerings.
Expanding High-Value Customer Base: Rubrik continues to attract and grow its relationships with larger enterprises. The company reported 2,381 customers with $100,000 or more in Subscription ARR, an increase of 28% year-over-year. This metric is crucial as it indicates Rubrik’s ability to land bigger deals and expand within existing enterprise accounts, which typically offer greater lifetime value and stickiness.
Marked Improvement in Profitability: One of the standout features of Rubrik’s Q1 report was the significant improvement in its profitability metrics:
Achieving Positive Free Cash Flow: A major milestone for any growth-oriented tech company is the transition to positive free cash flow. Rubrik achieved this in Q1 FY2026, reporting cash flow from operations of $39.7 million (compared to $(31.4) million in Q1 FY2025) and free cash flow of $33.3 million (compared to $(37.1) million in Q1 FY2025). This turnaround demonstrates improved operational efficiency and a more sustainable financial model as the company scales. At the end of the quarter, Rubrik had cash, cash equivalents, and short-term investments of $762.1 million.
Rubrik’s strong quarter was also supported by a series of strategic alliances and business developments aimed at expanding its market reach and enhancing its platform capabilities:
These collaborations and strategic hires underscore Rubrik’s commitment to building a comprehensive ecosystem and providing cutting-edge solutions to address the evolving cyber threat landscape.
Buoyed by its strong Q1 performance, Rubrik provided an optimistic outlook for both the second quarter and the full fiscal year 2026.
Second Quarter Fiscal 2026 Outlook:
Full Fiscal Year 2026 Outlook:
This guidance suggests management’s confidence in maintaining strong growth momentum while continuing to improve operational leverage and profitability throughout the fiscal year.
Rubrik’s results arrive at a time when data security has never been more critical. The relentless wave of cyberattacks, particularly ransomware, has elevated cyber resilience from an IT concern to a C-suite and boardroom imperative. Organizations are increasingly recognizing that traditional backup and recovery solutions are insufficient in the face of modern threats.
Rubrik’s Zero Trust Data Security™ approach, which assumes no user or system is inherently trustworthy, is designed to help organizations not only recover from attacks but also to proactively defend their data and ensure business continuity. The company’s focus on securing data across enterprise, cloud, and SaaS environments, powered by machine learning, positions it well to capitalize on this growing market demand.
Rubrik’s first-quarter fiscal 2026 earnings report is a clear testament to its strengthening market position and the successful execution of its SaaS-centric strategy. By exceeding its own guidance and analyst expectations across key metrics—from robust ARR and revenue growth to significantly improved profitability and positive free cash flow—Rubrik has demonstrated considerable momentum.
The company’s ability to attract large enterprise customers, forge strategic partnerships with major cloud providers and global systems integrators, and innovate in a rapidly evolving threat landscape bodes well for its future. As CEO Bipul Sinha stated, Rubrik appears to be “winning the cyber resilience market.” While still in its early days as a public company, this strong start to the fiscal year sets a positive tone and will likely be welcomed by investors looking for growth and a clear path to sustained profitability in the critical cybersecurity sector. The journey towards securing the world’s data is complex, but Rubrik’s Q1 performance indicates it is well-equipped for the challenge.
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