Rubrik (RBRK) RBRK Q2 Financial Results Summary
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Rubrik (RBRK) Q2 2027: Strong Growth Across Metrics — Positive Outlook
Rubrik, Inc. (NYSE: RBRK) reported its second quarter fiscal year 2027 results, showcasing impressive growth that exceeded all guided metrics. The company achieved a revenue increase of $117.4 million, or +38% year-over-year, reaching a total of $427.3 million compared to $309.9 million in the same quarter last year.
This quarter's performance is a significant positive for shareholders, reflecting robust demand for Rubrik's cybersecurity and AI operations solutions. The strong growth in subscription Annual Recurring Revenue (ARR) and total revenue indicates that the company is effectively capitalizing on the increasing need for data protection and cyber resilience in a rapidly evolving technological landscape.
Key Financial Metrics
- Subscription ARR: Grew 33% year-over-year to $1.66 billion, with net new Subscription ARR up 35% year-over-year.
- Total Revenue: Increased 38% year-over-year to $427.3 million, compared to $309.9 million in Q2 FY 2026.
- Subscription Revenue: Rose 37% year-over-year to $407.2 million, up from $297.0 million in Q2 FY 2026.
- Gross Margin: GAAP gross margin was 78.4%, down from 79.5% in Q2 FY 2026; Non-GAAP gross margin was 81.0%, compared to 81.6% in the prior year.
- Net Loss per Share: GAAP net loss per share improved to $(0.30) from $(0.49) in Q2 FY 2026; Non-GAAP net income per share was $0.20, compared to a loss of $(0.03) in the same quarter last year.
- Operating Cash Flow: Cash flow from operations was $76.8 million, up from $64.7 million in Q2 FY 2026.
- Free Cash Flow: Reached $65.7 million, compared to $57.5 million in the prior year.
Shareholder Impact
The results indicate a strong quarter for shareholders, driven by significant growth in both subscription ARR and total revenue. The improvement in net loss per share also reflects better operational efficiency and a positive trajectory towards profitability. The raised guidance for fiscal year 2027 further underscores the company's confidence in its growth strategy and market position.
Guidance and Strategic Initiatives
Rubrik has raised its guidance for all key metrics for fiscal year 2027, which is a strong indicator of management's confidence in the company's future performance. The guidance includes:
- Subscription ARR: Expected to be between $1,880 million and $1,885 million.
- Total Revenue: Projected to be between $1,685 million and $1,693 million.
- Non-GAAP Net Income per Share: Estimated to be between $0.47 and $0.53.
Additionally, Rubrik's recent product launches and strategic partnerships, including the introduction of Rubrik AI and the expansion of its cloud offerings, position the company well to capture further market share in the cybersecurity space.
Forward-Looking Catalysts
Investors should closely monitor Rubrik's performance in the upcoming quarters, particularly how the company executes on its raised guidance and continues to innovate in the AI and cybersecurity sectors. The third quarter fiscal year 2027 outlook anticipates revenue of $429 million to $431 million, which will be a key indicator of the company's ability to maintain its growth momentum. Furthermore, the ongoing development of new products and enhancements to existing services will be critical as Rubrik navigates the competitive landscape of data protection and cyber resilience.
In summary, Rubrik's Q2 FY 2027 results reflect a strong performance that not only meets but exceeds expectations, setting a positive tone for the remainder of the fiscal year.
Note: The following tables contain amounts in thousands.
| Three Months Ended July 31, 2026 | Three Months Ended July 31, 2025 | Six Months Ended July 31, 2026 | Six Months Ended July 31, 2025 |
|---|---|---|---|
| $407,100 | $296,957 | $781,309 | $562,600 |
| $20,104 | $12,903 | $33,019 | $25,723 |
| $427,200 | $309,860 | $814,328 | $588,300 |
| Assets | July 31, 2026 | January 31, 2026 |
|---|---|---|
| Cash and cash equivalents | $416,166 | $380,196 |
| Short-term investments | $1,331,483 | $1,295,579 |
| Accounts receivable, net of allowances | $269,210 | $256,773 |
| Deferred commissions | $113,534 | $110,651 |
| Prepaid expenses and other current assets | $142,066 | $180,365 |
| Total current assets | $2,272,459 | $2,223,564 |
| Property and equipment, net | $92,767 | $83,830 |
| Deferred commissions, noncurrent | $164,336 | $157,592 |
| Goodwill | $223,197 | $199,606 |
| Other assets, noncurrent | $93,364 | $101,944 |
| Total assets | $2,846,123 | $2,766,536 |
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