Skip to content
AnalystLens

Rubrik 8-K Report, Financial Results (Sep 9, 2024)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed September 9, 2024
Period End
September 9, 2024
Security
RBRK
In the record · 2024–202610-K210-Q88-K15

RBRK filed 2 annual reports (10-K), 8 quarterly reports (10-Q) and 15 current reports (8-K) between 2024 and 2026.

  1. Material agreement8-K · Jun ’25Jun ’25
  2. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed September 9, 2024. Cited figures are marked; the original filing is the authoritative source.

Rubrik, Inc. (NYSE: RBRK) filed this Form 8-K on September 9, 2024 under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release announcing results for the fiscal second quarter ended July 31, 2024 (Exhibit 99.1).

Subscription ARR grew 40% year-over-year to $919.1 milliona, total revenue rose 35% to $205.0 million, and the company reported 1,969 customers with $100K or more in Subscription ARR, up 35% year-over-year. Management said results exceeded all guided metrics and raised full-year fiscal 2025 guidance across all metrics. Profitability remained negative on a GAAP basis.

GAAP net loss was $176.9 millionb, or $(0.98) per share, compared with $(0.98)... more precisely, $(1.35) per share in the prior-year quarter, and the GAAP net loss included $105.0 million of stock-based compensation tied to equity vesting after the initial public offering. Non-GAAP net loss per share was $(0.40), against $(1.33) a year earlier. Subscription ARR Contribution Margin improved to (8)% from (22)%, and cash flow from operations was $(27.1) million, with free cash flow of $(32.0) million.

Cash, cash equivalents and short-term investments totaled $601.3 millionc as of July 31, 2024. For the third quarter of fiscal 2025, Rubrik guided to revenue of $216.5 million to $218.5 million and non-GAAP EPS of $(0.41) to $(0.39). For full fiscal 2025, guidance calls for Subscription ARR of $1,026 million to $1,032 million, revenue of $830 million to $838 million, non-GAAP EPS of $(2.12) to $(2.06), and free cash flow of $(67) million to $(57) million, including $23 million of one-time payroll taxes related to the public offering.

02—Key points

Key Highlights

  1. Subscription ARR rose 40% year-over-year to $919.1 million as of July 31, 2024.
  2. Total revenue increased 35% to $205.0 million; subscription revenue grew 50% to $191.3 million.
  3. GAAP gross margin was 73.1% versus 76.6% a year earlier, including $7.0 million of stock-based compensation; non-GAAP gross margin was 77.0%.
  4. GAAP net loss per share was $(0.98) versus $(1.35); non-GAAP net loss per share was $(0.40) versus $(1.33).
  5. Subscription ARR Contribution Margin improved to (8)% from (22)%, and was (6)% excluding $22.8 million of employer payroll taxes tied to IPO-related equity vesting.
  6. Free cash flow was $(32.0) million for the quarter, compared with $(13.4) million a year earlier; cash and short-term investments were $601.3 million.
  7. Full-year fiscal 2025 guidance was raised across all metrics, with revenue of $830 million to $838 million and Subscription ARR of $1,026 million to $1,032 million.

03—Questions

Frequently Asked Questions

  1. What did Rubrik report for the fiscal second quarter of 2025?

    Total revenue was $205.0 million, up 35% year-over-year, and Subscription ARR was $919.1 million, up 40%. The company said it exceeded all guided metrics and had 1,969 customers with $100K or more in Subscription ARR, up 35%.

  2. Why was the GAAP net loss so much larger than the non-GAAP net loss?

    The GAAP net loss of $176.9 million included $105.0 million in stock-based compensation expense, which the company attributed to the vesting of certain equity awards after and as a result of its initial public offering. Non-GAAP net loss was $71.1 million, or $(0.40) per share.

  3. How did the company change its full-year fiscal 2025 outlook?

    Rubrik raised guidance across all metrics. Full-year fiscal 2025 guidance now calls for revenue of $830 million to $838 million, Subscription ARR of $1,026 million to $1,032 million, non-GAAP EPS of $(2.12) to $(2.06), and free cash flow of $(67) million to $(57) million, including $23 million of one-time payroll taxes related to the public offering.

  4. What is the status of the company's cash position and cash flow?

    As of July 31, 2024, cash, cash equivalents and short-term investments totaled $601.3 million. Cash flow from operations was $(27.1) million for the quarter, and free cash flow was $(32.0) million, compared with $(13.4) million in the prior-year quarter.

04—Continue

← View all 8-K filings