Companies /Technology

Rubrik, Inc.

NYSE: RBRK Software - Infrastructure
$91.50
▼ $2.17 (−2.32%) today
Markets open · 4:03pm ET

Q2 2026 Earnings

Reported Sep 9, 2025, 4:08pm ET · SEC source
$-0.03
Beat +91.23%
EPS · est. $-0.34
$309.9M
Beat +9.78%
Revenue · est. $282.3M
+1.9%
Beating market
RBRK vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−21%−14%−7%0Sep 9Sep 10report 4:08pm ETearnings+0.4%−19.2%
−21%−14%−7%0Sep 9Sep 10earnings+0.4%−19.2%
RBRK −19.2%S&P 500 +0.4%
−21%−14%−7%0Sep 9Sep 10report 4:08pm ETearnings+0.2%−19.2%
−21%−14%−7%0Sep 9Sep 10earnings+0.2%−19.2%
RBRK −19.2%NASDAQ +0.2%
−24%−16%−8%0Sep 8Sep 17report 4:08pm ETearnings+1.3%−23.5%
−24%−16%−8%0Sep 8Sep 17earnings+1.3%−23.5%
RBRK −23.5%S&P 500 +1.3%
−24%−16%−8%0Sep 8Sep 17report 4:08pm ETearnings+1.6%−23.5%
−24%−16%−8%0Sep 8Sep 17earnings+1.6%−23.5%
RBRK −23.5%NASDAQ +1.6%
−18.05%
Day of report
−3.51%
Next session
−8.46%
One week
+2.01%
30 days

S&P 500 over the same 30 days: +0.12%.

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 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

“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.”

Rubrik CEO, on the earnings call

Forward Guidance & Outlook

Rubrik raised its full-year fiscal 2026 outlook. For Q3 FY2026, the company guides revenue of $319M–$321M, non-GAAP subscription ARR contribution margin of approximately 6.5%, and non-GAAP net loss per share of $(0.18) to $(0.16) on approximately 200 million weighted-average shares. For the full fiscal year 2026, the company expects subscription ARR of $1,408M–$1,416M, revenue of $1,227M–$1,237M, non-GAAP subscription ARR contribution margin of approximately 7.0%, non-GAAP net loss per share of $(0.50) to $(0.44) on approximately 197 million shares, and free cash flow of $145M–$155M.

RBRK YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$200.0M$204.9M$309.9MRevenue$149.8M$246.3MGross Profit$-65,658,581$-94,463,000Operating Income$-65,803,951$-95,929,000Net Income
$0$200.0MRevenueGross ProfitOperating IncomeNet Income

RBRK Revenue by Segment

Subscription$297.0M+55.0%
Other$10.9M
Maintenance$2.0M

Figures from SEC filings and company reports. Not investment advice.