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Rubrik

RBRK Q2 2026 Earnings

Reported Sep 9, 2025 at 4:08 PM ET · SEC Source

Q2 26 EPS

$-0.03

BEAT +91.23%

Est. $-0.34

Q2 26 Revenue

$309.9M

BEAT +9.78%

Est. $282.3M

vs S&P Since Q2 26

-34.0%

TRAILING MARKET

RBRK -21.5% vs S&P +12.4%

Market Reaction

Did RBRK Beat Earnings? Q2 2026 Results

Rubrik posted a decisive beat across the board in its fiscal second quarter of 2026, reporting revenue of $309.86 million, up 51.2% year-over-year and ahead of the $282.26 million consensus by 9.78%, while its non-GAAP loss per share of $0.03 came in… Read more Rubrik posted a decisive beat across the board in its fiscal second quarter of 2026, reporting revenue of $309.86 million, up 51.2% year-over-year and ahead of the $282.26 million consensus by 9.78%, while its non-GAAP loss per share of $0.03 came in far better than the $0.34 analyst estimate, a 91.23% positive surprise. The primary engine behind the quarter was subscription revenue, which climbed 55% year-over-year to $296.96 million, pushing subscription ARR to $1.25 billion as the company's base of customers contributing $100,000 or more in subscription ARR grew 27% to 2,505. Perhaps more telling was the swing to positive free cash flow of $57.54 million, compared to negative $32.01 million a year ago, reflecting improving unit economics and operational discipline. Management raised its full-year fiscal 2026 outlook, now targeting revenue of $1.23 billion to $1.24 billion and free cash flow of $145 million to $155 million, though at least one analyst views the shares as fairly valued given a 200%-plus run since the company's mid-2024 IPO.

Key Takeaways

  • • Subscription revenue grew 55% year-over-year to $297.0 million
  • • Subscription ARR grew 36% year-over-year to $1.25 billion
  • • Healthy new customer acquisition and robust expansion
  • • Non-GAAP gross margin expanded to 81.6% from 77.0% year-over-year
  • • Subscription ARR contribution margin improved to 9.4% from (8.2)%
  • • Increased operating efficiencies drove 19% free cash flow margin
24/7 Wall St

RBRK YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

RBRK Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 26 Q4 26

“We delivered a strong quarter with exceptional top-line growth and significant cash flow margin. We continue to build towards a highly profitable growth business. We're also pleased to close the acquisition of Predibase, which bolsters our ability to deliver secure, efficient and accelerated GenAI for our customers. We look forward to continuing to unlock new frontiers in data, security, and AI as we build a generational company.”

— Bipul Sinha, Q2 2026 Earnings Press Release

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