Rubrik, Inc. SEC 10-Q Report

Rubrik, Inc., a leading provider of Zero Trust Data Security solutions, has released its latest Form 10-Q report, showcasing significant improvements in both financial and operational performance. The company's robust growth in subscription sales and strategic business transitions have contributed to a notable enhancement in its overall financial health and market position.

Financial Highlights

• Total Revenue: $278.5 million, reflecting a significant increase from $187.3 million in the prior year, driven by strong growth in subscription sales.
• Gross Profit: $218.0 million, indicating a substantial improvement from $91.3 million, highlighting enhanced operational efficiency and cost management.
• Loss from Operations: $(93.1) million, a notable reduction from $(724.8) million, demonstrating improved cost control and operational performance.
• Net Loss: $(102.1) million, compared to $(732.1) million in the previous year, showing a significant narrowing of losses.
• Net Loss Per Share, Basic and Diluted: $(0.53), a marked improvement from $(11.48), reflecting better financial performance and share management.

Business Highlights

• Revenue Segments: Subscription revenue consists of SaaS subscriptions and subscription term-based licenses with related support services. SaaS includes products like Anomaly Detection and Sensitive Data Monitoring, as well as the Rubrik Security Cloud (RSC) platform. RSC is offered as a fully-hosted subscription or a hybrid cloud subscription.
• Geographical Performance: For the three months ended April 30, 2025, the Americas region accounted for $202.8 million in revenue, EMEA for $64.8 million, and APAC for $11.0 million. The United States alone contributed $195.3 million, representing 70% of total revenue.
• New Product Launches: The company launched the Rubrik Security Cloud (RSC) platform, a comprehensive Zero Trust Data Security platform, which is primarily adopted as a cloud-native, fully managed SaaS solution.
• Future Outlook: The company expects new and existing customers to continue adopting RSC. As part of the business transition, Rubrik is actively migrating existing customers from legacy CDM capabilities to RSC, which is offered on a subscription basis.
• Customer Segments: The company reported having 2,381 customers with $100,000 or more in Subscription ARR, reflecting a 28% growth compared to the previous year.
• Operational Strategy: Rubrik is transitioning the sale of Rubrik-branded Appliances from the company to its contract manufacturers, which was largely completed in fiscal 2025. This transition is expected to impact revenue growth through fiscal 2027.
• Business Model Evolution: The company is moving from a perpetual license model to a subscription pricing model, with a focus on SaaS and subscription term-based licenses. This transition includes offering Subscription Credits to qualifying customers instead of Refresh Rights.
• Market Adoption: The company is focused on the market adoption of its Zero Trust Data Security approach, emphasizing the need for data security and cyber resilience across enterprise, cloud, SaaS, unstructured data, and identity providers.

SEC Filing: Rubrik, Inc. [ RBRK ] - 10-Q - Jun. 06, 2025