Rubrik Shares Dip After Q2 Results: Earnings Beat, Revenues Beat, Guidance Above Estimates

Rubrik Inc. RBRK reported its second-quarter financial results after Monday's closing bell. Here's a look at the details from the report. 

The Details: Rubrik reported quarterly losses of 40 cents per share which beat the analyst consensus estimate of losses of 49 cents. Quarterly sales came in at $204.951 million, which beat the analyst consensus estimate of $196.209 million by 4.46%.

• Subscription ARR was up 40% year-over-year, growing to $919.1 million.
• Subscription revenue was $191.3 million, a 50% increase, compared to $127.5 million in the second quarter of fiscal 2024.
• GAAP gross margin was 73.1%, compared to 76.6% in the second quarter.
• Rubrik reported 1,969 customers with $100K or more in Subscription ARR, up 35% year-over-year.

“The long list of recent successful cyber attacks and IT outages is driving organizations to increasingly recognize the need for a robust cyber resilience plan to ensure business continuity in the face of cyber disruptions. Our Subscription ARR up 40% year-over-year in the second quarter to $919 million showcases the value we provide to enterprises in delivering complete cyber resilience, which combines cyber recovery and data security posture management,” said Bipul Sinha, Rubrik’s CEO.

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Outlook: Rubrik sees third-quarter losses of between 41 cents and 39 cents per share, versus the estimate of losses of 43 cents, and quarterly revenue in a range of $216.5 million to $218.5 million, versus the $215.15 million estimate. The company expects fiscal year losses of between $2.12 and $2.06 per share, versus the estimate of losses of $2.28 per share, and full-year revenue in a range of $830 million to $838 million, versus the $818.45 million estimate.

The company will host a conference call at 5 p.m. ET to discuss the results. 

RBRK Price Action: According to Benzinga Pro, Rubrik shares are down 4.05% after-hours at $30.76 at the time of publication Monday.

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