Rubrik: Fiscal 4Q26 and FY26 Financial Results

Summary:

Results exceeded all guided metrics
Fourth quarter subscription ARR grew 34% YoY to $1.46 billion
Fourth quarter revenue grew 46% YoY to $377.7 million
2,805 customers with $100K or more in subscription ARR, up 25% YoY

Rubrik, Inc., a security and AI operations company, announced financial results for the fourth quarter and fiscal year 2026, ended January 31, 2026.“The acceleration in net new subscription ARR growth in Q4 at our scale demonstrates that Rubrik is an increasingly critical platform for the AI era. We are moving beyond traditional data security to ‘mission control’ for the AI enterprise – delivering risk and recovery critical to safely scale AI transformations,” said Bipul Sinha, CEO, chairman, and co-founder, Rubrik.

Commenting on the company’s financial results, Kiran Choudary, CFO, Rubrik, added, “We concluded fiscal 2026 with an exceptionally strong performance, highlighted by a record $115 million in net new subscription ARR and significant free cash flow. We look forward to continuing to execute in our large and growing market opportunity in fiscal 2027 and beyond.”

Fourth Quarter Fiscal 2026 Financial Highlights

Subscription Annual Recurring Revenue (ARR): Subscription ARR was up 34% YoY, growing to $1.46 billion as of January 31, 2026
Revenue: Subscription revenue was $364.9 million, a 50% increase compared to $243.7 million in the fourth quarter of fiscal 2025. Total revenue was $377.7 million, a 46% increase compared to $258.1 million in the fourth quarter of fiscal 2025. This includes $18 million in revenue from material rights. Revenue excluding material rights increased 43% YoY in the fourth quarter of fiscal 2026
Gross Margin: GAAP gross margin was 81.5%, compared to 77.4% in the fourth quarter of fiscal 2025. This includes $4.4 million in stock-based compensation expense, compared to $5.1 million in the fourth quarter of fiscal 2025. Non-GAAP gross margin was 83.7%, compared to 79.7% in the fourth quarter of fiscal 2025
Subscription ARR Contribution Margin: Subscription ARR contribution margin was 11.6% compared to 2.1% in the fourth quarter of fiscal 2025, reflecting the strong net new subscription ARR in the quarter and an improvement in operating leverage in the business
Net Loss per Share: GAAP net loss per share was $(0.43), compared to $(0.61) in the fourth quarter of fiscal 2025. GAAP net loss includes $84.9 million in stock-based compensation expense, compared to $86.0 million in the fourth quarter of fiscal 2025. Non-GAAP net income per share, diluted, was $0.04, compared to non-GAAP net loss per share, diluted, of $(0.18) in the fourth quarter of fiscal 2025
Cash Flow from Operations: Cash flow from operations was $93.0 million, compared to $83.6 million in the fourth quarter of fiscal 2025. Free cash flow was $70.1 million, compared to $75.2 million in the fourth quarter of fiscal 2025
Cash, Cash Equivalents, and Short-Term Investments: Cash, cash equivalents, and short-term investments were $1.68 billion as of January 31, 2026

Fiscal 2026 Financial Highlights

Revenue: Subscription revenue was $1.26 billion, a 53% increase compared to $828.7 million in fiscal 2025. Total revenue was $1.32 billion, a 48% increase compared to $886.5 million in fiscal 2025
Gross Margin: GAAP gross margin was 80.1%, compared to 70.0% in fiscal 2025. This includes $18.9 million in stock-based compensation expense, compared to $67.0 million in fiscal 2025. Non-GAAP gross margin was 82.3%, compared to 78.0% in fiscal 2025
Net Loss per Share: GAAP net loss per share was $(1.78), compared to $(7.48) in fiscal 2025. GAAP net loss includes $329.4 million in stock-based compensation expense, compared to $913.9 million in fiscal 2025. Non-GAAP net loss per share was $(0.01), compared to $(1.57) in fiscal 2025
Cash Flow from Operations: Cash flow from operations was $282.9 million, compared to $48.2 million in fiscal 2025. Free cash flow was $237.8 million, compared to $21.6 million in fiscal 2025

Recent Business Highlights

As of January 31, 2026, Rubrik had 2,805 customers with Subscription ARR of $100,000 or more, up 25% YoY
Announced the promotion of Jesse Green to CRO. Mr. Green, who successfully served as President, Rubrik Americas, will now lead Rubrik’s global revenue organization and continue to scale and accelerate our rapid growth and industry leadership
Announced the general availability of Rubrik Agent Cloud or RAC to manage risk and accelerate Enterprise AI Agent adoption. RAC now integrates with Amazon Bedrock AgentCore and Microsoft Copilot Studio for unified visibility, governance, and surgical rollback across agents
Introduced Rubrik Security Cloud Sovereign, designed to enable customers to retain control over their data’s location and access in response to evolving regulatory landscapes
Announced Intelligent Business Recovery for Microsoft 365 offering automated, business-aware recovery for critical users and data across Exchange, OneDrive, SharePoint, and Teams. This new solution intelligently defines the recovery scope for rapid business restoration and reduced downtime
Announced Rubrik DevOps Protection to protect Azure DevOps and GitHub repositories and pipelines with a single, policy-driven SLA engine
Entered into a multi‑year technology partnership with McLaren Racing in which Rubrik became an Official Partner of the McLaren Mastercard Formula 1 Team and the Arrow McLaren IndyCar Team. Rubrik’s technology portfolio will help secure McLaren Racing’s data to power critical technical development processes and operations
Introduced Rubrik CXO Visionaries, a community designed for C-level IT and security leaders focused on cyber resilience. Rubrik CXO Visionaries offers global executives peer insights, strategic influence, and brand amplification within a trusted network

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