In This Article:
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Subscription ARR: $1.093 billion, growing 39% year-over-year.
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Net New Subscription ARR: Over $90 million in the fourth quarter.
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Subscription Revenue: $244 million, growing 54% year-over-year.
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Subscription NRR: Remained strong above 120%.
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Customers with $100,000+ Subscription ARR: 2,246, growing 29% year-over-year.
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Customers with $1 million+ Subscription ARR: 162, growing 64% year-over-year.
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Subscription ARR Contribution Margin: Improved over 1,400 basis points year-over-year.
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Free Cash Flow: Over $75 million in the quarter; approximately $22 million for the full fiscal year.
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Total Revenue: Grew 47% year-over-year.
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Free Cash Flow Margin: 29% in the quarter.
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Non-GAAP Gross Margin: 80% in the fourth quarter.
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Cash Position: $705 million in cash, cash equivalents, restricted cash, and marketable securities.
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Debt: $322 million.
Release Date: March 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Rubrik Inc (NYSE:RBRK) reported a significant increase in subscription ARR, reaching $1.093 billion, a 39% year-over-year growth.
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Subscription revenue grew by 54% year-over-year, indicating strong demand for Rubrik's offerings.
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The company achieved a record net new subscription ARR of over $90 million in the fourth quarter.
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Rubrik Inc (NYSE:RBRK) reported a substantial improvement in profitability, with a free cash flow of over $75 million for the quarter.
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The company continues to expand its customer base, with a 29% increase in customers with $100,000 or more in subscription ARR.
Negative Points
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Despite strong revenue growth, Rubrik Inc (NYSE:RBRK) is still reporting non-GAAP earnings per share in the negative range for fiscal 2026.
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The company anticipates a moderation in cash flow for fiscal 2026, indicating potential challenges in maintaining the current growth momentum.
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There is a noted divergence between revenue growth and ARR growth, with revenue expected to grow at 30% compared to ARR's 24% growth.
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Rubrik Inc (NYSE:RBRK) is still early in its journey with its Annapurna platform, indicating that it may take time to see meaningful adoption and impact.
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The company faces ongoing competition from both legacy and new-generation vendors, which could impact its market share and growth prospects.
Q & A Highlights
Q: How do you feel about the Total Addressable Market (TAM) for data protection, especially with the shift to cloud and GenAI? A: Bipul Sinha, CEO, explained that Rubrik has transformed the traditional data protection market by integrating DSPM and cyber recovery, expanding their TAM to over $50 billion. The shift to cloud and GenAI increases the need for cyber resilience, further expanding their market opportunity.