Rubrik shares soared 16% in extended trading Thursday after the company posted a surprise profit and lifted its annual forecast. The results show how AI-driven demand is boosting the data security sector.
Rubrik, Inc., RBRK
The company earned $0.10 per share in the third quarter. Analysts had forecast a loss of $0.17 per share. Last year, Rubrik lost $0.21 per share in the same period.
Revenue reached $350.2 million, up 48% year-over-year. Wall Street expected $320.51 million. The performance marks another strong quarter for the cyber resilience specialist.
Subscription ARR hit $1.35 billion by October’s end. That represents 34% growth from the previous year. The metric tracks predictable revenue from ongoing contracts and subscriptions.
Customer spending is rising too. Accounts generating over $100K in subscription ARR grew 27% year-over-year. Companies are investing more in data protection as AI adoption spreads.
The company improved its gross margin during the quarter. It also narrowed its net loss compared to last year. Rubrik held $1.60 billion in cash and short-term investments at quarter end.
Fourth quarter revenue is expected between $341 million and $343 million. Analysts projected $325.06 million. The company anticipates an adjusted loss of $0.10 to $0.12 per share, beating the $0.13 loss estimate.
Full-year guidance got an upgrade. Subscription ARR should reach $1.439 billion to $1.443 billion. Revenue projections now sit at $1.28 billion to $1.282 billion, topping the $1.23 billion consensus.
The annual loss forecast improved too. Adjusted net loss per share is now expected at $0.16 to $0.20, much better than the $0.49 loss Wall Street anticipated.
Rubrik rolled out new offerings during the quarter. Rubrik Agent Cloud and Rubrik Okta Recovery both launched. The company strengthened ties with CrowdStrike and Cognizant through expanded partnerships.
The data security company focuses on cyber resilience and enterprise AI acceleration. Its platform helps organizations protect data across multiple environments. Rubrik ended the quarter with stronger margins and a growing enterprise customer base.
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