Rubrik, Inc. Reports Fourth Quarter and Fiscal Year 2026 Financial Results

Key Investor Highlights

• All guided metrics exceeded expectations.
• Subscription Annual Recurring Revenue (ARR) grew 34% year-over-year, reaching \$1.46 billion in Q4.
• Cash, Cash Equivalents, and Short-Term Investments totaled \$1.68 billion as of January 31, 2026.

Fiscal 2026 Financial Performance

• Revenue:
  • Subscription revenue: \$1.26 billion, up 53% from \$828.7 million in fiscal 2025.
  • Total revenue: \$1.32 billion, up 48% from \$886.5 million in fiscal 2025.
• Net Loss per Share:
  • GAAP net loss per share: \$(1.78), improved from \$(7.48) in fiscal 2025.
  • Non-GAAP net loss per share: \$(0.01), improved from \$(1.57) in fiscal 2025.
  • GAAP net loss includes \$329.4 million in stock-based compensation expense (down from \$913.9 million in fiscal 2025).
• Operating Cash Flow:
  • Net cash provided by operating activities: \$282.9 million (up from \$48.2 million in fiscal 2025).
  • Free cash flow: \$253.3 million (up from \$32.8 million in fiscal 2025).
  • Operating cash flow margin: 25% (vs. 5% in fiscal 2025).
  • Free cash flow margin: 19% (vs. 2% in fiscal 2025).
• Balance Sheet:
  • Cash, cash equivalents, and restricted cash: \$380.2 million (up from \$186.3 million in fiscal 2025).
  • Short-term investments: \$1.30 billion (up from \$518.8 million).
  • Convertible senior notes, net: \$1.13 billion.
  • Total stockholders’ deficit: \$(519.6) million (improved from \$(553.7) million).

Fiscal 2027 Outlook

• First Quarter Fiscal 2027:
  • Revenue guidance: \$365 million to \$367 million.
  • Non-GAAP subscription ARR contribution margin: 10%-11%.
  • Non-GAAP net loss per share: \$(0.04) to \$(0.02).
  • Weighted-average shares outstanding: approximately 204 million.
• Full Year Fiscal 2027:
  • Subscription ARR guidance: \$1,829 million to \$1,839 million.
  • Free cash flow guidance: \$265 million to \$275 million.

Price-Sensitive Information & Shareholder Considerations

• Significant improvement in both GAAP and non-GAAP net loss per share.
• Strong subscription ARR and revenue growth indicate robust business momentum.
• Cash flow and margins show substantial improvement, highlighting operational efficiency.
• Stock-based compensation expense has decreased dramatically, potentially reducing dilution concerns.
• Guidance for FY2027 signals continued growth and positive cash flow trends.
• Balance sheet remains strong, with substantial cash and investments to support growth initiatives.
• No indication of emerging growth company status—Rubrik is subject to full financial reporting requirements.

Other Noteworthy Details

• The company has not flagged any written communications, soliciting material, or pre-commencement tender offer communications under SEC rules, suggesting no current or pending corporate actions that would impact shareholders outside regular reporting.
• Rubrik’s shares trade on the New York Stock Exchange under the symbol “RBRK”.
• Forward-looking statements are subject to risks described in the company’s filings, with particular caution about uncertainties related to stock-based compensation and other future expenses.
• Non-GAAP financial measures are provided for investor clarity, but the company notes reconciliation to GAAP on a forward-looking basis is not possible without unreasonable effort due to unpredictable future expenses.

Conclusion

Rubrik, Inc.’s Q4 and FY2026 financial results demonstrate strong growth in subscription ARR and revenue, improved net loss, and significantly enhanced cash flow metrics. The company’s guidance for fiscal 2027 points to ongoing expansion and operational strength. Investors should note the substantial improvement in profitability metrics and the reduction in stock-based compensation expense, both of which can positively influence the share price. The robust balance sheet and clear outlook on growth further support a positive investment narrative. These results and forward-looking statements are likely to be price-sensitive and may impact Rubrik’s share value.

Disclaimer

The information provided herein is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties. Investors should review Rubrik’s official filings with the SEC and consult their financial advisors before making investment decisions.

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